About Natasha

Natasha is the principle of ND Accounting & Taxation Services, and a registered tax agent. With over 17 year's experience in the accountancy & taxation field Natasha wanted to offer Warrawong, Wollongong, Shellharbour, Wollongong, in fact all of the Illawarra a personalised experience. From helping people establish and grow their small businesses to maximising tax returns for individuals look forward Natasha assists in simplifying accounting or taxation requirements.

Tax Integrity Package–Establishing the Tax Avoidance Taskforce

  The government will provide $678.9 million to the ATO over the forward estimates period to establish a new Tax Avoidance Taskforce.  This will enable the ATO to undertake enhanced compliance activities targeting multinationals, large public and private groups and high wealth individuals. The Tax Avoidance Taskforce will conduct operations to improve tax compliance in [...]

Increasing the small business entity (‘SBE’) turnover threshold

  From 1 July 2016, the government will increase the SBE turn over threshold from $2 million to $10million. The current $2 million turnover threshold will be retained for access to the small business capital gains tax (‘CGT’) concessions, and access to the SBITO (i.e., the increased 8% tax discount) will be limited to entities [...]

Reducing the company tax rate over 10 years

  The government will reduce the company tax rate to 25% over 10 years (i.e., by 1 July 2026). This measure will commence from 1 July 2016, whereby the government will cut the small business company tax rate to 27.5%, and make this tax rate available to small companies with an annual aggregated turnover of [...]

Small Business Income Tax Offset (‘SBITO’)

From 1 July 2016, the government will increase the current 5% tax discount (referred to as the SBITO) to 8%. The discount is currently available to an individual in receipt of income from an unincorporated small business entity (‘SBE’) (i.e., basically, an entity with an aggregated turnover of less than $2 million), and applies to [...]

Budget’s Personal Income Tax Relief

  From1 July 2016, the government will increase the 32.5% personal income tax threshold from $80,000 to $87,000. This measure will reduce the marginal rate of tax on incomes between $80,000 and $87,000 from 37% to 32.5%, preventing around 500,000 taxpayers facing the 37% marginal tax rate.

Income tax relief for Australian Defence Force

  Income tax relief for Australian Defence Force personnel deployed overseas The government will provide a full income tax exemption for Australian Defence Force personnel deployed on Operation PALATE II in Afghanistan.  This income tax exemption has effect from 1 January 2016, and will remain in effect until 31 December 2016. The government will also [...]

Medicare levy low income thresholds – Budget Announcement

Medicare levy low income thresholds for 2015/16   For 2015/16, the Medicare Levy low income thresholds will be as follows: • Individuals $21,335 (previously $20,896) • Families$36,001 (previously $35,261) The family income threshold (i.e., $36,001) will be increased by $3,306 (previously $3,238) for each dependent child or student. • For single seniors and pensioners with [...]

2016/17 Budget Superannuation reform changes

1. Effective Budget Night –7.30pm (AEST) 3 May 2016 1.1 New lifetime cap for non-concessional superannuation contributions. The government will introduce a $500,000 lifetime non-concessional contributions cap. The lifetime cap will take into account all non-concessional contributions made on or after 1 July 2007 (i.e., from the 2008 income year) and will be indexed in [...]

December 2015 Quarterly Activity Statement (2nd quarter)

  December 2015 Quarterly Activity Statement (2nd quarter), for those whom report GST quarterly, is due for lodgement and payment. It’s BAS TIME - Due 29th February This quarterly BAS if for the period 1 October to 31 December 2015. The quarterly BAS includes, GST, should you have employee’s their Pay As you Go Withhold [...]

December 2015 Quarterly Superannuation Guarantee Contributions (2nd quarter)

  December 2015 Quarterly Superannuation Guarantee Contributions (2nd quarter). Contributions are to be made to the fund by this date. (NB: Employers who do not pay minimum super contributions by this date must pay the super guarantee charge, and lodge a “Superannuation guarantee charge statement – quarterly (NAT 9599)” with the ATO by the 28th [...]