Office News

Welcome Alison & River!

Alison will be working in

administration and will be one of

the friendly faces to greet you

upon your arrival to our office.

River is currently doing a School

Based Traineeship to complete a

Certificate III in Business. River will

be working as a receptionist and

will be another friendly face to

greet you on Thursdays.

Daniel & Naomi have

moved on.

Daniel & Naomi have moved on

to pursue new career

opportunities. We wish them well

with their future endeavours

Update your details! If you have moved recently or changed your name, bank

account details or contact details, please ensure we have your

correct details so we can update the ATO if necessary.

Looking for Financial Advice? “Financial Advice is not just for the

wealthy it’s for everyone! We can

help build and protect your

wealth”

Have you got enough insurance to cover your family?

Did you know you can get life, TPD and income protection

insurance all paid by your super? We can set it up for you and

can make future claims at no cost to you.

If you choose to continue with ongoing financial advice our

fees start at $44 per month plus 0.33% off funds under

management, paid by your super fund.

Contact us if you wish to book a no-obligation free

appointment with Peter to discuss your financial advice needs!

Be Rewarded

At Richard Start Accountants,

we appreciate your business! If

you are happy with our services

we would love you to refer your

family and friends to us. We like

to reward referrers with two

Movie Tickets for referring one

new client to us, or if you refer

two clients we will refund you a

WHOPPING $100 off your fee!

Have you updated your Will or are you about to buy or

sell a property?

We have Jenny Morrow Legal on site and Jenny is available to prepare Wills, Enduring Powers of

Attorney, Medical Treatment Powers and Advance Care Directives. Jenny also provides conveyancing

services and can advise on deceased estate matters, and on a number of other legal issues.

If you want to make an appointment with Jenny feel free to call our office on 5338 7455 or contact

Jenny on 0417 045 198.

JENNY MORROW LEGAL

Too busy for a tax appointment?

Don’t forgot we also offer a drop off service for the completion

of tax returns. Just bring in all your information and leave it with

us. We will call you when it’s ready to sign!

Keep your tax information! Individuals with simple returns: (Wages, bank interest, dividends)

2 years from the date you lodge your tax

Individuals with complex tax returns: (Rental property, depreciating assets, etc.)

5 years from the date you lodge your tax

Trust: Must keep all relevant records for 5 years after they were prepared or obtained.

Company: The seven-year rule applies for all receipts, forms and applications.

Investments: You will need to keep purchase documents until assets are sold and 5 years

after that.

Superannuation

Everyone is still able to salary sacrifice a maximum of $25,000 per year into super (including

employer contributions)

The after tax contributions to super remains at $100,000 per year and there is a lifetime cap

on pension based super funds of $1.6 million.

Earning under $37,697 this year? Make $1,000 non-concessional (after tax) contribution to

your super and the government will put $500 into your super as a co-contribution. That’s a

50% return on your Money.

Taxable Payments Annual Report

The due date for the 2019 Taxable payments annual report is the 28th of August 2019. If you

have any questions about this please contact Marcus at our office.

The 2019 Budget The good news for businesses is the $30,000 instant asset depreciation for small businesses

has been extended until the 30th of June 2020

The bad news for property investors is that travel to the property will no longer be

deductable, nor will the depreciation on fans, dishwashers, and other fixtures that came

with an established property.

TAX RATES 2019-20

Taxable Income Tax on Taxable Income % on excess

(Marginal Rate)

$0 - $18,200 Nil 0%

$18,201 - $37,000 19 cents to each $1 19%

$37,001 - $90,000 $3,572 plus 32.5 cents to each $1 32.5%

$90,001 - $180,000 $19,822 plus 37 cents to each $1 37%

$180,000 and above $54,232 plus 45 cents to each $1 45%

Richard Start- Partner

CERTIFIED PRACTISING ACCOUNTANT

Richard has completed a Bachelor of

Science through the University of Melbourne

and a Bachelor of Commerce through the

University of Ballarat. Richard was admitted

to CPA status in 1999. After working with a

local accounting firm, he then began his

own practice in July 2000. In 2012, Richard

became of member of the Tax Institute of

Australia and gained the standing of a

Chartered Tax Adviser.

Peter Angel- Partner

CERTIFIED PRACTISING ACCOUNTANT

FINANCIAL ADVISER

Peter started working with Richard Start

Accountants in 2012, and in 2016 became a

Partner. Having various qualifications in

Economics, Accounting, and Financial

Planning, Peter is available for appointments

and to answer any query to help you with

your Income Tax, Personal Insurances and

various Financial Advice needs.

Annette Laver – Senior Accountant

CERTIFIED PRACTISING ACCOUNTANT

Upon successful completion of a Bachelor of

Commerce (Accounting) in 2004 and CPA in

2009, Annette began employment with Richard

Start Accountants in 2013. She has joined our

team with a wealth of knowledge in all areas of

taxation from basic taxation advice to complex

areas including but not restricted to

Superannuation and auditing of Self-Managed

Super Funds.

Marcus Darmody – Accountant

CERTIFIED PRACTISING ACCOUNTANT

Marcus began working with Richard Start

Accountants prior to completing his

accounting degree in 2014 and is now a

CPA. Marcus works on the preparation

Business Activity Statements and is also

available for appointments to complete

Taxation returns for our clients. He is also our

first contact for companies and Corporate

Compliance matters.

Mary Jansen- Office Manager

Mary started working with Richard Start

Accountants in 2009. After a long career in

banking and finance, Mary has contributed a

fresh and valued approach to the operation of

the administration department. Mary is

available to make appointments for Richard

and her extensive knowledge in managing

various ATO dealings makes her administrative

support impeccable.

Liana Hodge – Receptionist

Liana began with Richard Start Accountants

in January 2018. Liana provides support to

staff members from all departments and

can assist in making appointments and

directing incoming queries to the relevant

person. Liana can also assist you with any

instore or over the phone payments and

other enquiries. Liana will be ready to greet

you at the Reception Desk to assist you in

your enquiries.

Alison McKenna – Administration

Alison started working at Richard Start

Accountants in February 2019 and is one of

the newest members of our team. Alison

looks after the daily banking, assessments,

assisting the accountants and lodgements.

You will also see Alison sharing the

Reception Desk giving you a warm

welcome when you come into the office.

Welcome to our team!

RICHARD START ACCOUNTANTS

2019 Tax Return Checklist

Income

o Salary & wages – PAYG Payment Summaries

o Allowances, Benefits, Earning, Directors Fees, etc

o Lump Sum and Termination Benefits – including ETP Payment Summaries

o Centrelink payments tax statements for Newstart, Pensions etc

o Centrelink or Veterans Affairs – Tax Statements

o Capital Gains – Details of any assets sold during the year eg. Shares, Property, etc.

Including purchase of sale information including dates and related costs.

o Interest – Bank Statement, Term Deposits and high interest saver.

o Dividends – Dividend statements (2 per year)

o Income form Partnerships, Managed Trust Funds or Trusts. (Yearly Statement)

o Income from Business.

o Rental Property- Rental statement, Loan Statement, Rates, Water, Repairs, Bank

Fees, Insurance and other expenses.

o Other income- Jury Fees, Income Protection Payments Received.

Deductions

o Work related care expenses – Log Book. Work related Travel – Kilometres Travelled

o Work related Travel:

- Domestic travel expenses (meals, accommodation, car hire when required to

sleep away from home) receipts required

- International travel expenses (travel diary and full receipts required)

o Uniform, Protective clothing - Receipts

o Self-Education Expenses; Course Fees, Travel and Books.

o Phone/Mobile – now need one month of itemised bills with business percentage

calculated. If you want to claim this, you’ll need to work this out before the

appointment.

o Home Office, Internet – Now need a diary taken over four weeks, Calculating

percentage of interest usage and hours of work done at home during this period.

o Tools, Materials, Union fees, Stationery, Subscriptions, computer, Apps etc

o Donations – Receipts

o Interest and Dividend Deductions

o Costs relating to managing your tax affairs if a new client

o Income Protection, accident and sickness Insurance Premiums

Income Tests (usually does not affect taxable income, but are still required to be included

in your tax return)

o Spouse Income

o HECS or SFSS load details

o Privet health Insurance Details – Tax Statement

o Reportable Fringe Benefits (this should be on your group certificate)

o Child Support – paid or received

General

o Transactional Bank Account Details – Account Name, BSB and Account Number so

that your refund can be direct credited to your account.

o Email address if you have one, so the Assessment Notice can be emailed to you.

If you have completed the checklist you can now call to make an appointment.

Phone: 03 5338 7455

Due to changing requirements for the Australian Tax Office we now require

more information for clients in order to claim phone, internet and home office

expenses.

For internet we now need a diary taken over four weeks, calculating

percentage of internet usage based on hour of personal and business usage.

Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7 Week’s Total

Business time hrs

Personal time hrs

Day 8 Day 9 Day 10 Day 11 Day 12 Day 13 Day 14 Week’s Total

Business time hrs

Personal time hrs

Day 15 Day 16 Day 17 Day 18 Day 19 Day 20 Day 21 Week’s Total

Business time hrs

Personal time hrs

Day 22 Day 23 Day 24 Day 25 Day 26 Day 27 Day 28 Week’s Total

Business time hrs

Personal time hrs

28 day Total

hrs

hrs

Business Percentage = Total Business/Total All Hours = _______/_________=________%

(ig 56hrs / 168hrs = 33.3%)

Internet = Total Yearly bills x Business Percent. = $ x % = $_______.

(ig $90x12 x 33.3% = $360)

Total Business time

Total personal time

For home office we now need a diary taken over four weeks showing number

of hours worked from home

Total for the 28 day period = ________ hrs x 13 periods = _______ hrs for the year

(ie 56hrs x 13 = 728 hrs)

For Phone/Mobile we now need one moth itemised bills with business

percentage calculated. If you want to claim this, you’ll need to work this out

before the appointment.

Choose a month to work out the business usage of your phone.

Itemised phone bill for the chosen month.

Business use for the month.

Personal use for the month.

Business percentage for the month.

$ $ $ %

Phone usage = Total Yearly Bills x Business percent = $ x % = $ .

(ig $90x12 x 25% = $270)

Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7 Weeks’s Total

Business time

hrs

Day 8 Day 9 Day 10 Day 11 Day 12 Day 13 Day 14 Week’s Total

Business time

hrs

Day 15 Day 16 Day 17 Day 18 Day 19 Day 20 Day 21 Weeks’s Total

Business time

hrs

Day 22 Day 23 Day 24 Day 25 Day 26 Day 27 Day 28 Week’s Total

Business time

hrs

Total Business time

hrs 28 Day Total

Totals from Worksheets

Mobile/Phone business percentage calculated from one month itemised

phone bill with personal calls ruled out.

Phone usage = Total Yearly Bills x Business Percentage = $ x % = $ .

Internet from a diary kept over four weeks, calculating percentage of internet

usage based on hours of personal and business usage, Total internet bills for

the year aggregated.

Business Percentage = Total Business / Total All Hours = _______/________=________%

Internet = Total Yearly bills x Business percentage. = $ x % = $ .

Home Office from a diary kept over four weeks. The total numbers of hours

was calculated and this is used to calculate for the total year.

Total for the 28 day period = ____ ___ hrs x 13 periods _________ hrs for the year.

(ig 56hrs x 13 = 728hrs)

____________________________ _____________________

Signature of taxpayer Date