Newsletter

November 2011
Small Business Benchmarks 
The ATO has identified 46,000 business potentially under-reporting their cash income.  A significant portion of these businesses are associated with a relatively small number of registered agents. The ATO will be contacting tax agents with a high number of clients operating outside its small business benchmarks to identify any particular reasons for this.
Client Alert
 > Business tax losses under Tax Forum spotlight
> Tax Office views on SMSFs, real property and borrowing rules
 > Tax law changes to tackle phoenix activities
> Small business depreciation rule changes on the horizon
> Standard deduction for work expenses next year
> Partnership not ended, so director still liable, says Court
> Dutch retiree took reasonable care, finds Tribunal
> Super guarantee charge is a valid tax, says High Court

 For more details go to the Client Alert Library

Breaking News - Land Tax - What is Land Tax?
 Land Tax is a tax levied on the owners of land in NSW as at midnight on 31 December of each year. In general, your principal place of residence (your home) or land used for primary production (a farm) is exempt from land tax.  You may be liable for land tax if you own or part-own:

> vacant land, including vacant rural land
> land where a house, residential unit or flat has been built
> a holiday home
> investment properties
> company title units
> residential, commercial or industrial units, including car spaces
> commercial properties, including factories, shops and warehouses
> land leased from state or local government

Rates & Thresholds
2012: The Valuer General has determined that the land tax threshold for the 2012 land tax year is $396,000. The premium land tax threshold for the 2012 land tax year is $2,421,000.
2011: The Valuer General has determined that the land tax threshold for the 2011 land tax year is $387,000.  The premium land tax threshold for the 2011 land tax year is $2,366,000.

The amount of tax is $100 plus 1.6 per cent of the land value between the threshold and the premium rate threshold (2366000) and two percent thereafter. 

You can register for land tax online, or contact OSR by phone during business hours and register over the phone. You can also download and complete a hardcopy registration (initial return) form and return this to OSR.

Pinnacle IT Support
Pinnacle Accounting Partners offers IT support and consultancy with full time in-house IT staff able to provide on-site and remote support. Pinnacle can provide a range of hardware from the leading hardware manufacturers such as Hewlett Packard, Asus, Sony, Netgear and Toshiba and software from Microsoft and Trend Micro.

Support Options
Onsite Support - Pinnacle will come to you, providing support for your systems where and how they are used.
Remote Access - Customers are provided a Pinnacle IT Support Calling Card that enables secure remote access to your computer.
Web Based Support Centre - Customers also have access to our web based support centre to submit support requests or review previous issues.

To arrange a review of your current Information Technology investment or to discuss any support and consultancy requirements, contact Pinnacle Accounting Partners on 02 69601200 or email info@pinnacleap.com.au. 

> Family Assistance Office
   

> Rural Assistance Authority
   

> Sustainable Pensions
   

> Bridges Financial Services Pty Limited
     
   

Team Profile - Jacqui Fawcett
   



Administration Manager
   
   
   
   
   
   
   

Jacqui brings to Pinnacle more than 20 years experience in the banking industry and is also a Justice of the Peace.

Jacqui is the Administration and Client Services Manager and has been with the firm for ten years. Jacqui carries out  company secretarial work for clients,  liaises with the ATO and provides administration support to the Pinnacle team.

In her spare time Jacqui enjoys gardening, zumba, relaxing and spending time with her family.
   
   
   
   
   
   
   
   
   
   

Yvette Stewart

   
HR Co-ordinator

Yvette commenced with Pinnacle in November 2011 and has over 12 years experience in Human Resources and OH&S.  Yvette holds a Certificate IV in Frontline Management, Human Resources and a Return to Work Co-ordinator's Certificate..

Yvette has extensive knowledge in the areas of policy and procedure development, workers compensation, Industrial Relations issues, union and conflict negotiation, training, traineeships, apprenticeships and school based traineeships..

For any queries please do not hesitate to contact Yvette on::

Phone:   02 696012000
Email:    ystewart@pinnacleap.com.au
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   

Contact Us
   

135 Yambil Street
   

P 02 6960 1200
   

F 02 6960 1299
   

E info@pinnacleap.com.au
   

W www.pinnacleap.com.au
   

     
   
   
 

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