Tydd & Associates Pty Ltd

16/04/2025

15/04/2025

A little over 8 years ago we created our business…an incredible journey filled with growth, challenges and unforgettable moments.
Towards the end of last year we reached another milestone by selling the business.
We are beyond grateful to everyone who supported us along the way, our valued clients,
friends and especially our hardworking team…nothing would have been possible without you❤️
Today we farewell the face of the Moree Office, Janelle Daley, who has done an incredible job of running our office (like a business owner) for the past 5 years. Thank you for inspiring our 9 day fortnight (way ahead of your time).
We express our deepest appreciation for your unwavering dedication and the positive impact you’ve had on our team.
Your professionalism, authenticity and work ethic have been truly remarkable.
Although your presence will be greatly missed, we wish you every happiness in your future.

29/10/2024

Unexpected life events can strain your finances. Did you know your superannuation might be accessible early in certain situations? From preventing home foreclosure to covering urgent medical expenses, there are specific compassionate grounds for early super release. The ATO approved $1.04 billion in early releases in 2023-24. Before considering this option, it's crucial to understand the qualifying circumstances, application process and potential impacts on your future. While it should be a last resort, it's valuable to know your options during challenging times. Call us on 67425001 to learn more.

27/10/2024

A salary sacrifice arrangement with your employer to make extra superannuation contributions could boost your super savings for a first home or for retirement. You should explore the potential benefits and consider your financial goals over the short and long term before committing to a salary sacrifice agreement. Contact us on 67425001 to learn more.

25/10/2024

Tax offsets reduce the tax you pay on your taxable income. Offsets available to individuals include the seniors and pensioners tax offset, beneficiary tax offset, private health insurance tax offset, invalid and invalid carer tax offsets, zone tax offset and lump sum in arrears tax offset. Most offsets aren't refundable, which means they can't reduce your tax below zero. However, some (such as the private health insurance tax offset) are refundable. Contact us on 67425001 to learn more.

23/10/2024

Now is a great time to make sure your GST-registered business is ready to meet the business activity statement (BAS) due dates coming up in late October. When you register for an Australian business number (ABN) and GST, the ATO will send you a BAS when it’s time for you or your registered agent to lodge information about your business’s GST, pay as you go (PAYG) and other taxes. Your BAS will be due monthly or quarterly, and some businesses report GST annually. Contact us on 67 425001 to learn more.

21/10/2024

The ATO announced a lifestyle assets data-matching program for 2023-24 to 2024-25, sourcing information from insurers for specific asset classes above set thresholds. This program aims to identify compliance issues related to FBT, GST, CGT, and super obligations. It addresses tax risks such as incorrect GST credit claims for assets purchased for personal use but claimed as business expenses, and inaccurate FBT reporting. Businesses should be aware of these potential issues and ensure proper reporting and documentation of asset usage to avoid ATO scrutiny.

19/10/2024

With the latest statistics showing a significant rise in liquidations and the ATO focusing on debt collection, many small businesses are facing significant financial pressures and may be considering how to improve their circumstances. The small business restructure rollover is a strategic tool for small businesses looking to restructure without the immediate burden of tax liabilities. It allows for greater flexibility in organising business assets, potentially leading to more efficient and effective business operations.

17/10/2024

If you are the trustee of a SMSF, each year you need to value the SMSF’s assets at market value and provide supporting evidence to the auditor. The market value of an asset is the amount that a willing buyer and seller would agree to in an arms-length transaction. The person who conducts the valuation must base their valuation on objective and supportable data. In certain instances, the law requires valuations be undertaken by a qualified, independent valuer. But it is advisable to use a qualified, independent valuer in all cases.

14/10/2024

Under proposed "Payday Super" reforms, employers will need to pay superannuation guarantee contributions to their employees every pay cycle, rather than quarterly. The goal of the reforms is to strengthen the superannuation system by ensuring employees receive their contributions more often and helping to reduce unpaid super. The Government has released a fact sheet detailing key elements of the current policy design, before further consultation is undertaken.

12/10/2024

If you’re saving for your first home, making extra voluntary super contributions as part of the First Home Super Saver Scheme can be a tax-effective savings strategy. But when it’s time to access your savings, the process can be a little tricky. Fortunately, the government has recently made changes to the scheme to improve its flexibility for users. Learn how the scheme works, what’s changing, and what you need to do to get it right.