Perks- Focussed, Client-driven Accounting & Financial Services Firm in South Australia & Northern Territory

The resident individual tax rates will change for the 2009/10 income year. The new rates are:

Taxable income ($)

Tax payable ($)

0 - 6,000

Nil

6,001 - 35,000

15% of excess over 6,000

35,001 - 80,000

4,350 + 30% of excess over 35,000

80,001 - 180,000

17,850 + 38% of excess over 80,000

180,001+

55850 + 45% of excess over 180,000

Taxable income ($)	Tax payable ($)
0 - 6,000	Nil
6,001 - 35,000	15% of excess over 6,000
35,001 - 80,000	4,350 + 30% of excess over 35,000
80,001 - 180,000	17,850 + 38% of excess over 80,000
180,001+	55850 + 45% of excess over 180,000

Low-income tax offset

The maximum amount of offset an individual resident taxpayer will be entitled to will increase to $1,350 for 2009/10 ($1,200 for 2008/09).

Offsetting Business Losses against Other Income
Taxpayers who exceeded the new income threshold can, in limited circumstances, still offset their business losses.

Phoenix Activities - Government Flags Possible Action
The Government has flagged possible action to combat fraudulent phoenix activities.

Dodgy GST Arrangements and Artificial Credits on Tax Office Radar
A Taxpayer Alert warning taxpayers about uncommercial arrangements to obtain reduced input tax credits.

"Perks have provided me with excellent advice regarding the management of my company.” Warren Rogers

"Perks is more than just our accountants. They’re genuinely our business partner and advisors.” Jenny Sherman

“The proactive nature and forward thinking of the team at Perks has made us stop and think." Neil and Andrew Pike

"Perks has always swiftly responded and seamlessly fallen into stride with us to explore opportunities.” John Kain

"Perks has been our accountants, financial and business advisors for over two decades – critical at every stage of our business journey. " Greg Ennis

"Their detailed understanding of the process...and hands-on approach all combined to achieve an excellent result." Chris Day