What’s New
Mercia started in 1998 in Perth & we are as passionate and committed to outstanding client service as we were the day we started. Our people and advice focus on your needs and goals, our technical expertise is not only backed by over 40 years of experience but by the depth of national groups technical research. Our site is filled with links, Info, Rates & Calculators about everything you would expect from a full service Tax, Business, Finance & Investment Advisory firm … read more about us.
Did you know we can help with:
- your personal asset protection affairs
- Wills
- Structuring
- BFA’s
- Insurance
- Superannuation and much more
If your occupation lends itself to risk or you’re in business call us to find out how we can help you.
We are more than just a traditional Accounting Firm, we are a full service group with staff having different expertise from preparing tax returns and financials through to business advisory, finding the best loan, to comparing insurance, superannuation and investment options that are tailored to your needs. We have the expertise to create and implement the optimum structure that will deliver Asset Protection, Tax efficiency, Cash-flow which often saving thousands as a result of our recommendations. We aim to improve a client’s financial position by providing this holistic approach.
Newsletters
We issue bi-monthly tax, investment, property, finance and business advisory newsletters.
We are pleased to supply you with the August/September 2019 edition of Client Alert, which contains information on a number of important taxation developments up to and including 23 August 2019:
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- Warning to watch out for myGov tax scams – The government’s Stay Smart Online website warns there has been a surge in scammers impersonating myGov and the ATO to trick people into giving them money or personal details
- ATO has refunded $10 billion so far –The ATO says that $10 billion has been refunded to Australian taxpayers so far this tax time, an increase of over $2 billion from this time last year.
- ATO watching for undisclosed foreign income this tax time – The ATO reminds taxpayers who receive any foreign income from investments, family members or working overseas to make sure they report it this tax time.
- Unusual claims disallowed –Almost 700,000 taxpayers have claimed $2 billion of “other” expenses including non-deductible items such as dental costs, child care and Lego sets.
- ATO contacting small employers about Single Touch Payroll –The ATO is writing to small employers who have yet to start reporting or apply for a deferral, to remind them of their STP obligations.
- Disclosing business tax debt information: ATO consultation – The law is being changed to let the ATO report business tax debt information to credit reporting bureaus where businesses avoid their tax debts.
- Cross-border recovery of taxation debts –An updated practice statement outlines options available for the ATO to recover a tax debt where the debtor is outside Australia.
- ATO superannuation focus areas –The ATO has released its presentation to the 2019 Association of Superannuation Funds of Australia National Policy Roadshow outlining emerging focus areas for 2019–2020.
- Compassionate release of super only available in limited cases –The ATO has recently seen a significant increase in queries about compassionate release of super.
- Personal services income rules: unrelated clients test–The Federal Court has set aside an AAT decision that income a business analyst derived through a company was subject to the PSI rules.
If you want to read more about these tax changes click here.
Budget 2019
To find out more about the 2019 Special Budget please click here.