November 2012
Perrier Ryan Financial Planning - our team grows
We are very pleased to welcome David Currie to the Perrier Ryan team. David is a qualified financial adviser with six years’ experience. His reputation for providing high quality strategic advice to a range of clients prompted us to approach him to join our team.
David now joins Ben Littleton in offering excellent financial advice services to our clients. His focus is to review financial requirements for our existing clients, ensuring their plans continue to meet their needs.
At Perrier Ryan, we are committed to ensuring our clients are in the best financial position possible, and expanding our team enables us to do this even more effectively.
Have your Pie and eat it too (your Perrier Ryan pie, that is)
At Perrier Ryan we know each of our clients has different financial needs. What you – our client – may not yet know is that our diverse Perrier Ryan team can meet all of those needs. We offer a range of services to help you secure your financial future, delivered in an efficient, professional and friendly manner.
To help you feel confident about your financial situation, and your financial future, we’ve whipped up the Perrier Ryan pie.
Each piece of the pie is integral to each other, and our team has the expertise and experience to provide the best advice for each slice. Together, we will put your pie together.
Come in and talk pie with us. With our ingredients, and tried and true method, you’ll have a pie that suits your tastes – and satisfies.
Have you seen the 0.5% interest rate advertising on a new car?
Is it too good to be true?
We’ve all seen the recent advertising – the ads where the interest rate forms part of the main incentive to buy a new car. But is this the best option?
Below, we’ve set out an example of how financing a car this way can work against you. Let’s have a look at the numbers.
With the 0.50% option:
* You buy a new small car for $25,000 at 0.50% over 36 months.
* In the deal’s fine print, it will possibly mention you have no room to negotiate on price or the finance term.
* The repayment based on the three-year term is $699.52 per month.
* The total cost of the car is $25,182.72.
With pre-approved finance:
* You are in a position to negotiate a significantly lower price.
* You agree to pay $21,000, drive-away.
* If you financed this amount over three years at 8.70%, the repayments would be $660.06 per month
* The total cost of the car is $23,762.16.
You just saved $1,420.56 over the financed term.
The lesson: it’s worth arranging your finance first and then negotiating the price. You might find this allows you to buy the additional accessories for your new car with what you save.
If you are looking to buy a new car, call the office today or email me (Andrew) at andrewf@perrierryan.com.au.
Latest news from the Australian Taxation Office
ATO Holiday period - lodge your return early!
As in previous years, the ATO will close during the Christmas-New Year holiday period. To increase the likelihood of receiving your notices of assessment and any associated refunds before the holiday period, we would need to lodge your return electronically by 6 December 2012.
The ATO will suspend return and form processing from 3.00pm Eastern Daylight-Saving Time (EDT) Friday, 21 December 2012 to 9.00am EDT Wednesday, 2 January 2013. As a result, returns lodged after Thursday, 6 December 2012 will take longer than usual to process.
For returns lodged electronically between 7-21 December 2012, the ATO has advised refunds would only start issuing again from 2 January 2013. Refunds for returns lodged from 22 December 2012 will start to issue in the week beginning 14 January 2013.
If we receive any additional significant updates from the ATO regarding the holiday period processing, we will advise by a newsletter update
Here you'll find the latest business and individual tax information in the October Taxwise Newsletters.
Business Update
Topics covered inlcude changes and updates to, and advice on:
* Individual income tax rates – withholding obligations
* Living Away From Home Allowance
* Company Loss Carry-Back Measure
* Refunding excess GST
* Tax and GST Compliance for small and medium enterprises
* Small business benchmarks
* Selling your business
* Proof of ID for non-resident businesses
* Goods taken from stock for private use
* Common mistakes with reporting trust income
* New PAYG instalment options
* GST – claiming input tax credits (creditable purpose)
* New super data and e-commerce standard
There is also information on the ATO's Guide for Employers. Click here for the full business newsletter.
Individual Update
Topics covered include changes and updates to, and advice on:
* ATO Compliance Program
* New tax rates – residents and non-residents
* Household Assistance Package
* Tax offsets
* School Kids Bonus
* Private Healthcare and Medicare Levy surcharge changes
* Superannuation
* Living Away From Home Allowance
* Personal Services Income – ATO letters
* Reasonable travel and overtime meal allowances
* New PAYG instalment options
* Employment termination payments – withholding rates
Click here for the full individual newsletter.
