Welcome to Morrows Insight for October 2014.
This month we feature Cooke and Dowsett, a long time client with which Morrows has worked to set clear goals for business growth and development. Kiren Chitkara, Lawyer, discusses the recent celebrity trend in estate planning and we have a range of current tax, SMSF and client service topics for you.
Client spotlight: Cooke and Dowsett – click here
Cooke and Dowsett was founded in 1992 by Scott Dowsett who restructured the business in 2008 bringing in Chadd Cooke as part owner and director.
Together, Scott and Chadd have more than 40 years combined plumbing expertise and industry knowledge which they have used to build a business specialising in commercial plumbing, design and construction, project management and other plumbing services.
To Bequeath or not to Bequeath? – click here
The media tend to publish stories fairly frequently about wealthy individuals not leaving their wealth to their children or next of kin through their Will, or even about individuals who have been left out of Wills.
Morrows Legal has experienced lawyers who can work with you through this process to ensure that you are aware of your obligations and appropriate estate planning documentation can be prepared for you.
Immediate asset write-off now repealed – click here
In another update from the Government, the small business write-off on depreciating assets costing less than $6,500 in the year acquired or installed ready for use has been removed. This concession was put in place on 1 July 2012 and is unavailable from 1 January 2014. What does this mean for my tax return?
Staff Profile: Lisa-Marie Petitto – click here
Lisa-Marie joined Morrows in 2006 during her co-op year at university. She now works in the Business Services and Tax team completing client accounts, returns and special advice projects as well as mentoring junior staff. Lisa’s passion has been recognized with two Vision Award nominations for her work with developing our service offer to medical professionals, working with younger staff and her no compromise approach to quality.
In Brief: Electronic BAS – click here
The Australian Taxation office has recently made changes to the delivery of activity statements. You may be affected by these changes depending on the type of statement you receive and how it was lodged last quarter.
In Brief: Morrows Annual Client Feedback Survey – click here
For the last two years, we have invited our clients to participate in a feedback survey to help us to understand what we are doing well and how we might improve.
In Brief: Changing residency and SMSF – click here
If your SMSF ceases to be an Australian superannuation fund, it can result in your superannuation being taxed at penalty rate of 47% – nearly half your retirement savings!
In Brief: ShareFile and the Benefits for you – click here
Morrows recently announced a new provider of our Secure Client Area service. The service itself has been available for many years and creates efficiencies for you, our clients, as well as Morrows, in working with you.
Key Dates and Events
Please click here to view upcoming key dates and events.