Beneath The Surface

Beneath The Surface Public Accountant MIPA - empowering women with financial literacy Who is Rana Jewell? Cash flow is vital. Rana is also an investor. Why?

If you are looking to work with a quality accountant here is is a bit about Rana's style. She is a woman of conviction who is unafraid to give you an opinion if you seek it. She cut her teeth in small business (over 25 years ago) before launching into self-employment as an accountant and tax agent in October 1999. So she understands the difficulties, and rewards, of running a small business. She w

ill expect you to keep good records and want to sight relevant tax invoices and bank statements. So that if you have a tax office enquiry, she (and you) knows in advance that you have reasonably arguable and substantiated claims. She pays attention to your affairs and will speak up if she notices you are falling behind. Rana sometimes asks tough questions, but with your welfare at heart. As one new client recently commented: "I have not had this level of service before". Please phone for an appointment 07 3351 4689

10/07/2018

Personal Income Tax Cuts passed - Parliament has passed the Government's Personal Income Tax plan - first stage takes effect from 1 July 2018.

1. Low and Middle Income Tax Offset (in addition to the Low Income Tax Offset) is a non-refundable tax offset of up to $530 per annum to Australian resident low and middle income taxpayers. The offset will be available for the 2019, 2020, 2021 and 2022 income years and will be received as a lump sum on assessment after an individual lodges their tax return.
2. The top threshold of the 32.5% personal income tax bracket will increase from $87,000 to $90,000. From 1 July 2022, the 19% personal income tax bracket will increase from $37,000 to $41,000, and the top threshold of the 32.5% personal income tax bracket will further increase from $90,000 to $120,000. The low income tax offset will also be lifted to $645.
3. The 37% tax bracket will be removed entirely from 1 July 2024, and the top threshold of the 32.5% personal income tax bracket will be increased from $120,000 to $200,000.

Please speak to your accountant before making tax decisions on your specific circumstances.

09/07/2018

Hello All - it's tax time again - we are working on our 2018 checklist for you - do you have any topics you'd like me to write on?

Merry Christmas to all our clients and colleagues - a photo of a joyful accountant and tax agent, practising life/work b...
15/12/2017

Merry Christmas to all our clients and colleagues - a photo of a joyful accountant and tax agent, practising life/work balance

Rana Jewell from Beneath The Surface out and about at Hills Chamber of Commerce Brisbane socialising with Brian Battersb...
25/07/2017

Rana Jewell from Beneath The Surface out and about at Hills Chamber of Commerce Brisbane socialising with Brian Battersby - OAM and Carol Lee Beckx

07/05/2015

Recently we were asked what the super guarantee rate was for 2015-16? Under current legislation, the super guarantee rate will remain at 9.5% until 1 July 2021 when it will increase to 10%. It will then increase by 0.5% increments until it reaches 12% from 1 July 2025. Any questions?

11/03/2015

A WARNING that the tax office will never ever email you to ask you for confidential information. I just received a scam email that pretends to be from the tax office – if you receive something similar, please follow your computer security procedure to block the sender and delete the email. DO NOT hit any links in this type of email, EVER.

04/03/2015

Do you release at end of financial year that banks only report to you interest income on CURRENT accounts. As a result some clients have unwittingly come to grief with the tax office by underreporting their interest income. If you have closed a bank account or finalised a term deposit during the financial year, please do this extra step at year end: ask the bank to check their ARCHIVES

21/11/2012

Today we had a fabulous win for a client - the tax office had knocked back her legal costs for workplace hassles and paying a solicitor to get things back on track. We lodged a very legalistic objection on her behalf and successfully got her extra tax refunds that run into 5 figures!

15/10/2012

A commonly overlooked part of individual tax returns is the medical expenses tax offset. This is where the Government will reduce your tax liability by 20 cents in the dollar, for each dollar you spend on family medical expenses over a certain threshold ($2,060 for 2011-12) after refunds from Medicare and private health funds. There are some exclusions, including cosmetic surgery expenses and others. Speak to your accountant today with your questions, or check out the tax office website for more detail

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Park Road Ferny Hills
Ferny Hills, QLD
4055

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Monday 9am - 4:30pm
Tuesday 5pm - 7pm

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