MDB Accountants Pty Ltd

MDB Accountants Pty Ltd We are excited and our vision for MDB Accountants is to provide a boutique service to deal exclusively with our own clients and those that you may refer to

MDB Accountants is now up and running with Jo-Anne Lewis the partner in control. Jo-Anne comes along with her CPA qualification and over 15 years of tax accounting experience to small and medium business clients. Jo-Anne's incentive to get into accounting was her Grandfather and so you know that is where the name MDB – being his initials comes from. We are excited and our vision for MDB Accountant

s is to provide a boutique service to deal exclusively with our own clients and those that you may refer to us. So going forward we are excited about working with you on this and would appreciate any referrals of friends and associates who would benefit from working with us.

19/06/2015

30 June 2015 - Super guarantee contributions must be paid by this date to qualify for a tax deduction in the 2014–15 financial year

19/06/2015

What will change on 1 July 2015
For Business

Small business tax cut - 1.5% for companies and 5% tax discount for unincorporated small businesses under $2m (capped at $1,000)*
Employee share scheme rule changes to make the schemes more attractive particularly to start-ups (covered in our April update)*
'Fly in fly out' and 'drive in drive out' (FIFO) workers will be excluded from the Zone Tax Offset (ZTO) where their normal residence is not within a 'zone'*
Start-ups able to immediately deduct a range of professional expenses required to start up a business – such as professional, legal and accounting advice.*
The way work related deductions for car expenses are calculated will change. The '12% of original value method' and the 'one‑third of actual expenses method' will be removed. The 'cents per kilometre method' will be modernised, replacing the three current engine size rates with one rate set at 66 cents per kilometre to apply for all cars.
Superannuation

The terminally ill will be able to access super earlier*
Employers with 20 employees or more must use SuperStream for employee contributions.
Individuals

Changes to family tax benefits – income test changes, add on child payment removed, and changes to large family supplement.
* announced change not yet law.

Address

Suite 1111/340 Scottsdale Drive
Robina, QLD
4226

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