BBB Partners

19/05/2023

https://bbbpartners.com.au/ato-mygov-scams-becoming-increasingly-common/

Scam emails and text messages and phone calls claiming to be from the ATO and MyGov are becoming increasingly common. These emails, text messages and phone calls are designed to trick individuals into sharing their personal information, such as their tax file number, bank account details, or credit....

19/05/2023

https://bbbpartners.com.au/help-debt-indexation-increase-to-7-1-can-you-clear-your-loan-before-1-june-2023/

From 1 June 2023, there will be a significant increase in the Higher Education Loan Program (HELP) repayment indexation rate from 3.9% to 7.1% (See: Indexation rate table). The Australian Government adjusts the outstanding HELP debt in accordance with the inflation rate. This adjustment is known as....

19/05/2023

https://bbbpartners.com.au/20000-small-business-instant-asset-write-off/

Small businesses, with an aggregated turnover of less than $10 million, will be able to immediately deduct the full cost of eligible depreciating assets costing less than $20,000 that are first used or installed ready for use between 1 July 2023 and 30 June 2024. “Immediately deductible” means a...

19/05/2023

https://bbbpartners.com.au/payday-super-increasing-payment-frequency-of-employee-super/

From 1 July 2026, employers will be required to pay their employees’ super guarantee entitlements on the same day that they pay their salary and wages. Currently, at a minimum SG is paid quarterly. The Government will undertake a consultation process with the aim of providing details of the final ...

19/05/2023

https://bbbpartners.com.au/30-tax-on-super-earnings-above-3-million/

As part of the Federal budget, the Government re-proposed the planned additional tax of 15% on earnings to apply to individuals with a total superannuation balance over $3 million at the end of a financial year from 1 July 2025. The definition of Total Superannuation Balance (TSB) for the new tax, i...

22/08/2022

WE HELP SPECIALISTS FROM DAY ONE TO RETIREMENT AND BEYOND Medical graduates MEDICAL GRADUATES You’re at the very start of a career that will bring you rewards of many kinds. We can help you to manage HECS debt and, importantly, set up a few simple strategies that will get you on a path to being…...

21/07/2022

The appeal in the Thomas and Naaz Pty Ltd payroll tax case has been dismissed, which is disappointing news for all Medical and Allied Health Clinics.

Please click on the below article to hear our thoughts on the issue.

The appeal in the Thomas and Naaz Pty Ltd v Chief Commissioner of State Revenue [2022] NSWCATAP 220 (Thomas and Naaz) payroll tax case has been dismissed, which is disappointing news for all Medical and Allied Health Clinics. This means, for this case, the application of payroll tax on payments made...

08/03/2022

02/07/2021

Happy EOFY!

It's time to start preparing your tax return, so why not come and see us?

Phone: (03) 9693 7777
Email: [email protected]

Book in your tax return meeting online here: https://bit.ly/3jzO0FP

Accounting and Wealth Advisers to Medical and other professionals

26/05/2021

Tax Time Tip!

Do you ever get to Tax Time and go 'Oh damn! where are all my receipts' from the previous financial year? Do not worry, you are not the only one!

The Medical Graduates Team at BBB Partners are here to give you some tips that we encourage our clients to use when collating documents throughout the year for tax time; so, no need to trawl through emails come tax time.

1. Set yourself up with an email account with Cloud document storage.

2. Create separate EOFY tax folders within Dropbox / Google Drive / OneDrive / your email account.

3. As you receive your tax-related information, pop them in their relevant tax folder immediately.

4. Share the tax folder with your BBB adviser.

Book an appointment below with the Medical Graduates Team to be ahead of the pack this tax time!

Maybe it’s understanding the best way to package your future hospital salary, making the most of your tax return, buying your first home or protecting everything you’ve worked hard to achieve.