SPOILER ALERT – Don’t even think about keeping the xmas receipts!Spreading the joy – entertaining clients

According to Integrity Wealth, Entertaining your clients, be it Locksmith Brisbane, Photographers Brisbane, Bobcat Hire Brisbane, Plumbers Brisbane, Hair Salons Brisbane, at Christmas is not tax deductible. Our Brisbane Tax Accountants. tells us that if you take them out to a nice restaurant, to a show, or any other form of entertainment, then you can’t claim it as a deductible business expense and you can’t claim the GST credits either. It’s goodwill to all men but not much more.

Better to give a smile and share the love. And if you would like to take your Brisbane Accountant out on the town… Call Integrity Wealth 07 3326 8500! – We love to party…

It may be time to review your salary sacrifice agreement - Call Integrity  today!

Two recent changes to the law mean that you should have a closer look at your salary sacrifice.

There is an increase to the super guarantee rate from 1 July 2013. The increase is from 9% to 9.25% – this can have a huge impact even though it seems insignificant. The problem is concessional contribution caps.

Let’s look at 54 year old Johnny who runs his own mobile locksmith Brisbane business. He earns $160,000 p/annum. Before July, Johnny’s employer paid the SG amount of 9% ($14,400) and Johnny salary sacrificed $10,600 to use his full concession cap. From 1 July, Johnny will need to reduce the amount he sacrifices by $400 or breach his cap.

It’s such a minor amount but without this change the ATO will include the excess $400 contribution in Johnny’s assessable income, which will then be taxed at Johnny’s marginal tax rate with additional penalty interest charges applying. If you have a salary sacrifice arrangement in place and are close to your contribution cap, then the increase to the SG might be enough for you to breach your limits.

The second change relates to the increase in the concessional contributions cap. This financial year, the concessional contributions cap is $35,000 for those 59 and over on 30 June 2013 and $25,000 for everyone else. The higher cap will allow an additional $10,000 to be salary sacrificed into super for those eligible.

We can help you out on the following services:

1. Bookkeeping Services - 2. Insurance - We tailor insurance to meet your needs and we do the shopping around for you.3. Finance & Lending (In Brisbane 4. Financial Strategy Investments5. Private Superannuation - Private Superannuation Planners Brisbane6. Success & Planning.-

The Businesses Below Come Highly Recommended. Be sure to check them out: And by the way, yes they are our clients. 
Locksmith Brisbane - Commercial Photographers - Excavator Hire Brisbane - Charcoal.Supplier.Hairdressers Brisbane, Hair & Beauty Cleveland, WeddingPhotographers, Beauty Salon Cleveland,  Hairdressers Brisbane