Australia’s June 30 financial year end has arrived. With it brings lots of tax changes. This is due to the end of the flood levy, the introduction of carbon tax and simplification of the Tax Scales offered by the Australian Taxation Office (ATO).
Saasu announced and made the required changes for FREE on June the 12th. So no need to burn money buying updates. We give you free tax table updates. Like!
Here’s the changes we made to our online accounting software:
Flood Levy removed
From 1 July 2012, the temporary flood and cyclone reconstruction levy (flood levy) including exemptions from paying the flood levy will no longer apply. The flood levy has been removed from the 2012-13 tax tables.
Changes to the Tax-free Threshold affecting your employees
Tax free Threshold rises to $18,200. This means that employees who claim the tax-free threshold will have less tax withheld from their pay.
Changes to Leave Loading
There is no longer a separate withholding tax scale for employees who are entitled to leave loading. Tax Scale 7 now appears as Tax Scale 2 which is defined by the ATO as "Where the payee claimed the tax-free threshold with or without leave loading"
Wishing you a prosperous new financial year.
Thanks Paddy. Nice job on the video! We hired a company last month. We have videos being released in two weeks for getting started and other early use areas in our app. Edu videos though – not sales videos. We’ll see what people think and go from there. We aren’t locked in so always happy to look at what’s on offer out there. Will keep in touch.
Hey guys,
You know we have been happily using your product for over a year now and I tell both SME and tax advisors that I meet to check out your product. The issue is, despite my recommendations, when I later ask how they went, rarely has there been any implementation.
I think the reason is that the benefits and ease of transition and ease of use could be better spelt out on your website. A nice VIDEO would do the trick – perhaps one for the accountants and one for the businesses.
I have been back at school increasing my learning in video production and I would LOVE to make a video for you guys. Nominal cost – just glad to help. My latest video is here for your perusal.
http://youtu.be/kN1dHwKamF0
I wrote it, found the talent, directed and edited the video. Total cost about $2500+GST
I could do a lot for you for a similar budget. Give me a bell if you would like to discuss further and share some of your ideas on the subject.
Kind regards,
Paddy