Monthly Archives: July 2017

I’m back, at Deakin that is…

This week saw me return to the Deakin University Warrnambool campus and it’s starting to feel like home again.

I attended Deakin University as a student all the way back in 1993 – 1995 where I obtained my Bachelor of Commerce. I had always intended to go to the Warrnambool Institute of Advanced Education, it just happened that WIAE had changed to Deakin by the time I got there!

In 1st trimester this year I was invited to lecture and present tutorials (actually I think they are called seminars these days), for the first year subject “Accounting for Decision Making”, and this trimester I am back for the second year subject “Management Accounting”.

You might be thinking that accounting is accounting – it deals with numbers and that is all, but actually there is more to accounting than you might be aware of.

Management accounting focuses on a businesses ability to effectively use the resources it has available. It is management accounting that provides both financial and non-financial information so that managers can plan, control and make decisions effectively.

So for the next three months you can call me Professor Bron!

Regards

Some advice from me to you…

You will be well aware that the 2017 tax season is underway.

Some of you may have even started or completed your 2017 tax return – if this is you, please remember that refunds won’t be issued  by the Australian Taxation Office (ATO) until after 18th July.

But the advice I want to give you today is…start preparing for your 2018 tax return NOW!

That’s right, I want you to start thinking about your 2018 tax return so that every time you make a decision this financial year, you think about the documentation you need to keep.

I have always found it surprising how much documentation I have to support my deductions when I make a conscious effort to file it away – and sorting through a few papers is far less traumatic than racing around at the end of the year looking for paperwork I can’t even remember the details of!

I make a point of not accepting any ‘shoeboxes’ of documents anymore, but I do accept summaries of shoeboxes, after all the onus is on you to keep the records. And if a manual system is not for you, you may like to look at the ATO myDeductions tool.

Regards

2017 Inspiration Series – July

The July instalment of the Business in Heels – South West Victoria 2017 Inspiration Series is coming up next Thursday 13th July.

You too can join in the fun and festivities at Proudfoot’s Boathouse from 6.30pm- 8.30pm.

You’ll receive a drink on arrival and canapes prepared from fresh local produce – plus you’ll have the chance to meet and connect with like-minded business and professional women from across our region.

Membership is FREE, and if you join as a member you can come along to all our events for just $40 each – here’s the booking link for next week.

Our inspiring special guest for July is Colleen Lansdell – Colleen, and our Branch Director Bron Levett met in early 2016, and since then their mutual respect for each other has grown!

Come along and hear Colleen’s story, in her own words “My heartfelt belief is that everything in life happens for a reason, sometimes we just need to trust the universe and follow the map before us…even when we don’t understand where it is taking us. I am living proof of this!”

I do hope to see you there, and I would ask that you share the details with your network.

PS we thank Colleen for stepping up and filling in for us this month with late notice, please show your support by joining in the fun

PPS As always there is a prize for the best shoe (heel or flat, we don’t mind!)

Regards

Tax return fees for the 2017/18 year

A new financial year is upon us and I know many of you are keen to get your 2017 income tax return lodged (perhaps even more keen to receive a refund?).  I can make no promises on the refund as this depends on your personal circumstances, but I can promise an efficient and easy to use service!

The Australian Taxation Office (ATO) will begin processing tax returns this Friday, and payment of refunds will commence from 18th July.

What does it cost for The Tax Chic to prepare your income tax return?

Effective 1st July, 2017 the standard income tax return fee is $155 (a standard return includes employment income, interest income and basic deductions).

Should you need to report business income, rental income, investment income or complex deductions, additional fees will be incurred and are charged in increments of $55.

Simply contact me or email bron@thetaxchic.com and I’ll let you know how to proceed (it’s very simple, and you don’t even need to leave the house!)

PS to read more about the App I use, take a look here.

Regards