Accounting Taxation Business Specialists The Entrance, NSW, Davis Stewart Rowland

What's Changed in 2009?

New Income Tax Rates
Medicare Levy threshold increase
Changes to superannuation contributions caps
Super co-contribution reduced
New rules targeting executive perks
Employee share schemes changes
Foreign employment income taxed under new rules
Account based pension drawdown relief extended
Crack down on deductions for non-commercial business
Family Tax Benefit must be now claimed through Centrelink

For information about the above changes and more talk to us.

Question & Answers

Question: Would a logbook on an Excel spreadsheet be accepted by the ATO as a valid logbook?

Answer: For the purposes of claiming car expense deductions, a log book maintained in an Excel file should be valid as long as it contains the following details for each business trip:

the date the journey began and the date it ended
the car's odometer readings at the start and end of the journey
how many kilometres the car travelled on the journey; and
the reason for the journey

The logbook entries must be made at the end of the journey, or as soon as possible afterwards, and they must be in English. The odometer records maintained for the car should also show the make, model, engine capacity and registration number of the car.

Contact our office to find out more....

We at Davis Stewart Rowland are accounting, taxation and business specialists and we are focused on providing premium financial services that exceed our client’s expectations. We achieve this through uncompromising dedication to four core principles:

Integrity – Adopting a steadfast adherence to a strict ethical code ensures the foundation of our relationships with clients is based on honesty, responsibility and accountability.

Empathy – we understand that life sometimes ‘throws us a curve ball’ and situations can change quite dramatically. We can help.

Knowledge – With a dedication to ensuring our professional staff has the tools to keep up to date with current legislation and innovative ideas, our clients are guaranteed that we will do our upmost to formulate a solution to their requirements.

Growth – Everyone wants their investments or business ideas to get to that next level, we work with our clients to make that a reality.

We have a unique appreciation of the issues business owners and investors face, which makes us an integral part of our clients’ advisory team. Our comprehensive approach includes benchmarking, tax minimisation plans, cashflow forecasting, business information processing and management and strategic advice.

Whatever your needs we can help find the solutions. Our website is one important link in that process, so please browse our site and enquire or contact us for more information.