From the 30 June 2012 there are some major tax changes coming. MYOB puts the top 5 as -
- Personal tax changes related to clean energy legislation (Carbon Tax)
- Removal of Temporary Flood and Cyclone Reconstruction Levy (Flood Levy)
- Taxable payments reporting – building and construction industry
- Changes to leave loading
- Changes to Pay As You Go (PAYG) Withholding Payment Summaries
What does this mean for you?
Most importantly you need to ensure that if you are using either MYOB or Quickbooks that you are registered to receive their update to ensure that you will be able to manage these issues. One of the other key reasons for updating your accounting system is to ensure that you get the later Tax Tables because once again this year they will be different from last year.
If you are not on MYOB’s or Quickbooks update program then visit there website today and get registered … it usually only costs around $50 a month to make sure you are up to date.
Would you like some help with this issue … then give Chris a call our MYOB and Quickbooks trainer expert and he will be happy to help. Our number is 1800 66 00 00.
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Did you know we have MYOB Courses and Quickbooks Courses coming up in June. Visit our website for more information.
Chris Le Roy