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Alliance Accounting & Business Solutions
A boutique chartered accounting firm established to meet the needs of small and medium size businesses.
A boutique chartered accounting firm established to meet the needs of small and medium size businesses.

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We love to celebrate birthdays!

One of our core Values is Care: We are better together. We care for one another, respect one another and champion one another to achieve.

Happy Birthday Matt & Chris! Thanks for the laughs! Can't wait to try that cake :)

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Recently there has been a surge in people receiving hoax phone calls from people claiming to be from the ATO. We want you to be aware of these bogus phone calls. Here's what to listen for:

The caller:
•Wants you to pay a debt or asks for your personal details.
•Threatens that if you don’t pay you will be arrested and sent to jail, or
•Tries to make you call another number outside normal business hours.

It's not just scam phone calls you need to be aware of. Fake SMS and email messages offering a tax refund in exchange for personal details are also prominent.

This type of communication is usually a scam.

If you get a phone call that seems suspicious:
•Ask the caller for their full name and extension number and phone number.
•If you receive an email or SMS, do not open any attachments or hyperlinks.
•Contact our office so we can verify the legitimacy of the contact you received.

As your accountant we will confirm correspondence with the ATO and help protect you from fraud.

Remember, we're here to help you. Having our firm take care of your ATO correspondence adds an extra layer of protection against potential fraud. If we're not listed as your ATO contact, let us know so we can have the ATO contact our office on your behalf.

Remember, we're here to help you. Having our firm take care of your ATO correspondence adds an extra layer of protection against potential fraud. If we're not listed as your ATO contact, let us know so we can have the ATO contact our office on your behalf.

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A big shout out to one of our accountants, Cameron who celebrated his birthday recently. We love what we do...we work hard, laugh often and enjoy every moment. Happy Birthday Cam!

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Special Announcement

Congratulations to our Director, Kim Davis and her husband, Andy who have welcomed their first child into the world.

Arriving two weeks early, Ruby Lynn Davis was born at 1:37am last Thursday 16 March, weighing 6lb 8oz.

Both Mum and baby are doing well.

Not one to slow down, Kim has continued working, to ensure it's business as usual.

For matters relating to your tax or financial affairs, please contact our office, as per usual.

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New Tax Rates for Visa Holders

You may recall the 'Backpacker Tax' being discussed in the news late last year. Well, these changes came into effect on 1 January 2017 and they impact more than just backpackers. Known as the 'Working Holiday Maker Tax Rates', these new tax rates will affect all employees who hold a 417 and 462 visa.

What You Need to Do:

If you employ a working holiday maker who is in Australia on a 417 or 462 visa, you: •Must register with the ATO before 31 January 2017, to withhold tax at the working holiday maker rate
•Can visit to check if a worker has a 417 or 462 visa using the Visa Entitlement Verification Online service
•Must withhold tax at 15% on income up to $37,000 and apply foreign resident tax rates on income over $37,000

What Happens Next:

The working holiday tax rates only apply to income earned from 1 January 2017.

If you currently employ holiday makers you will need to issue two payment summaries this year: •One for the period 31 December 2016
•A second for any period to 30 June 2017


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Time is Nearly Up to Claim the $20,000 Immediate Tax Deduction on Assets

Are you a Small Business? Are you planning to purchase a big-ticket item in the future?

Now might be the time to do so. As of 30 June 2017, the instant asset write-off amount will revert back to the previous threshold of $1,000.

Since 12 May 2015, Small Businesses have been eligible to claim an immediate tax deduction for assets they start to use or have installed ready for use, which cost up to $20,000.

If you are considering a purchase of this nature perhaps consider doing so prior to 30 June 2017, so you can take full advantage of the current threshold before it’s reduced.

To be eligible to claim the deduction, the following criteria apply:

The business is a Small Business Entity – your aggregated turnover for the current year is likely to be less than $2 million.

All depreciating assets, (including new and second hand), are eligible with exception of: •Horticultural plants;
•Capital works;
•Assets allocated to a low-value pool or software development pool;
•Primary production assets depreciated using the normal depreciation rules; and
•Assets leased out to another party on a depreciating asset lease.

The cost price of $20,000 includes the cost of acquiring the asset plus any incidental costs required to install the item and have it ready for use. These may include: •Remuneration for services provided;
•Costs of transfer;
•Stamp duty or similar duty;
•Cost of a conveyancing kit; and
•Borrowing expenses.
If you are GST registered, then the GST exclusive amount is taken to be the cost of the asset. If you are not GST registered, then the GST inclusive amount is taken to be the cost of the asset.


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Our first staff member celebrating their birthday this year is Umair. When Umair's not working hard at the office, you'll find him on the cricket pitch. No matter how hot it is! Happy birthday Umair!

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We work hard, laugh often and enjoy every moment.
It was great to take a break from the hard work to laugh together over lunch, as we welcomed our new manager Melanie to Team Alliance.

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Our team and their spouses, had a great time celebrating a successful year with dinner and a show.
2 Photos - View album

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The wide ranging superannuation reforms originally announced in the 2016-17 Federal Budget have passed Parliament. As the majority of the reforms start from 1 July 2017, it’s important to consider how these might impact on you and whether you need to take any action before then. Here’s a few things that you need to know

Non-Concessional Contributions Capped

Once your super balance has reached $1.6m, from 1 July 2017 you will no longer be able to make non-concessional contributions to super. This does not stop you from making non-concessional contributions in the current 2017 financial year. If the balance of your superannuation pensions exceed $1.6m at 1 July 2017, the Tax Commissioner will direct your fund to reduce your retirement phase interests back to $1.6m and you will be subject to an excess transfer balance tax. Your overall super balance can be more than $1.6m but only $1.6m can be in a tax-free pension. Keeping the excess balance in super, albeit in accumulation phase, may still be worthwhile because of the low 15% tax rate.

Non-Concessional Contributions Reduced

Non-concessional contributions reduced to $100,000 per annum (from the current $180,000). If you are under 65, you have until 30 June 2017 to use the current caps and contribute up to $540,000 this financial year. You can do this using the ‘bring forward’ rule that allows you to bring forward up to three years worth of non-concessional contributions in one year (and then make no or limited contributions for the next two years). The advantage of using the bring forward rule now is that your three years worth of contributions utilise the current caps. If you contribute more than $180,000 this financial year but not the full $540,000, you still trigger the bring forward rule but any further contributions from 1 July 2017 are subject to the new $100,000 cap. Meanwhile, concessional contributions will be reduced to $25,000 per annum.

Impacts on High Income Earners

More high income earners to pay higher tax rate – High income earners with incomes of $300,000 or more pay 30% tax on super contributions they make, rather than the usual 15%. From 1 July 2017, this threshold will reduce to $250,000. Earnings on fund income no longer tax-free. From 1 July 2017, the income from assets supporting transition to retirement income streams will no longer be exempt from tax but included in the fund’s assessable income. For example, if your super fund earns interest from a term deposit, that interest is currently tax-free in a transition to retirement pension. From 1 July, that interest will be included in the fund’s assessable income.

There are Some Positives in the Reforms

Claiming a tax deduction on super contributions – If you are under the age of 75, from 1 July 2017, you will be able to claim a tax deduction for personal superannuation contributions. Currently, you need to earn less than 10% of your income from salary or wages. This effectively allows all individuals, regardless of their employment circumstances, to make concessional superannuation contributions up to the concessional cap. Note that if you are over 65 you will need to meet the work test to make contributions to super. ‘Carry forward’ unused super cap – Where your superannuation balance is less than $500,000, from 1 July 2018 you will be able to make additional (carry forward) concessional contributions if you have not fully utilised your concessional contributions cap in previous years. With the delayed start date of this reform, the first year that the carry forward amount can be used is 2019-20.
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