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A MESSAGE FROM OUR DIRECTORS

Welcome to the February 2020 issue of the Bongiorno newsletter. This quarter we cover:

  1. huge changes to income protection policies from 31 March this year

  2. an urgent reminder about Single Touch Payroll (deadline 1 July 2020)

  3. how you can benefit from catch-up concessional superannuation contributions.

  4. ways to set up your Will to ensure your children (and your children’s children) benefit, and

  5. tax relief and grant options in the wake of the bushfire crisis

Don’t forget to scroll to the end for important upcoming dates!

HUGE CHANGES TO INCOME PROTECTION INSURANCE

We are genuinely concerned about the long-term ramifications these changes will have on our clients. 

Read full article >>

SINGLE TOUCH PAYROLL - URGENT ACTION REQUIRED!

If you haven’t already put systems in place, you need to act in the next few months or risk getting caught out.

Read full article >>

SUPERANNUATION AND CATCH-UP CONCESSIONAL CONTRIBUTIONS

The 2019-2020 financial year represents the first time you can use catch-up concessional super contributions. Under the new rules, you can carry forward and contribute any unused concessional contribution cap amounts that accrued in the previous five years.

Read full article >>

INTERGENERATIONAL WEALTH TRANSFER, WILLS AND TESTAMENTARY TRUSTS

With around $3.5 trillion to be transferred from older to younger Australians in the next 20 years, we’re poised to see the biggest wealth handover in our country’s history. And yet, a recent survey from Perpetual has revealed that just over three-quarters of Australians don’t have a Will in place.

Read full article >>

TAX RELIEF IN THE WAKE OF THE BUSHFIRE CRISIS

Our hearts go out to the people affected by the recent bushfire crisis. If you or your community has been affected, the ATO is offering special concessions and tax relief options to approximately 3.5 million eligible businesses, individuals and self-managed superannuation funds.

Read full article >>

ATTENTION BANKLINK USERS

For clients who use BankLink, Amex is also now available. Simply go to the Amex site to authorise access.

If you need help with the process, please let us know.

IMPORTANT DATES

28/2/20:   

 December 2019 BAS

31/3/20: 

2019 tax return lodgement date for high taxpayers

15/5/20:

2019 tax return lodgement date for all other taxpayers