Boston Blog

Stay informed with tax, business and accounting news

Phone number change:

We are ditching the landline phone number as of November 2019 to enhance our mobility!! For all future phone calls please feel free to call us on our mobile number 0435 747 022.

Tax Returns 2019, ATO and Self Sensorship:

Tax time is here again so if you're looking for a professional to prepare your tax return then feel free to make an enquiry. We will do everything possible to make sure you receive what you are entitled to. With the Australian Taxation Office closely scrutinising...

Tax Office Targets Small Business:

The Australian Tax Office has announced on their website recently that they are actively targeting small businesses who accept mostly cash payments. The ATO believe that these small businesses are deliberately not paying the government their cut and would prefer them...

Christmas Holiday celebrations:

The Boston Accounting team would like to wish everyone a Merry Christmas. We hope you all have a safe and festive time. Be careful on the roads. Don’t drink too much and post things on the internet. The office will be closed from 22 December 2017 and will re-open...

Real Life changes – Budget 2017:

Budget 2017 - The Medicare Levy is increasing by 0.5% to 2.5%. This is to pay for the NDIS. Doesn’t sound like much but the govt increased the Levy from 1.5% to 2% just a couple of years ago, again to fund the NDIS. Prediction: Medicare Levy at 5% within a decade to...

Backpackers Tax

The tax rates for working holiday makers (backpackers tax) on a 417 or 462 visa changed on 1 January 2017. They now pay 15% tax on all income up to $37,000 after which foreign resident tax rates apply. So if you employ backpackers on your farm or business you will...

People don’t like to be sold:

Have you gone to your old accountants this year and see there’s a new name on the door? Or received a letter/email advising you that you've been sold to a new accountant? We have had about 50 new clients this year alone due to people coming to us after realising they...

Government brings forward Farmers deductions:

In a surprising and welcome update to the recent budget announcements, the government has brought forward its change in depreciation for farmers for fences, water assets and fodder storage assets. The immediate deduction for fences and water assets and the three year...

Federal Budget quick breakdown:

Ok so the 2015/2016 Federal budget has been handed down. There's not much to it, was a bit of a dud, but it’s nice to see some ads on the tv promoting the small tax savings for small business. Let’s have a quick look:   - $20,000 immediate deduction for assets –...

Australia to join Asian Infrastructure Investment Bank:

With nothing of interest to post over the past few months it is with great surprise that the Australian government has developed a backbone and broken away from its US masters by intending to join the newly established Asian Infrastructure Investment Bank (AIIB)...