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    Latest Accounting News

Telephone: 03 9727 1244
Facsimile: 03 9727 0244
Email: Email Us

Address: Suite 2, 96 Manchester Rd, Mooroolbark VIC 3138
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Hot Issues
Part 1 – Budget reminders. Under the Hood.
Part 2 – Budget reminders. Under the Hood.
Part 3 – Budget reminders. Under the Hood.
Comprehensive list of COVID-19 initiatives and packages.
Businesses not meeting obligations warned as ATO restarts compliance programs
Employers cautioned over ‘hard and fast’ decline in turnover eligibility
‘Follow the spirt of the law’, warns ATO
$120m in JobKeeper clawed back by ATO, new compliance areas highlighted
Budget 2020 - A very comprehensive break down.
Budget 2020 - Fact Sheets
Budget 2020 - At a Glance, Overview, Outlook
Temporary home office expenses shortcut extended again
JobKeeper extension – changes implemented
JobKeeper Participants – are “workers”
Commissioner registers updated JobKeeper alternative tests
Varying Pay As You Go (PAYG) Instalments
Reminder of Medicare Levy Surcharge (MLS)
September update of latest COVID-19 initiatives.
ATO JobKeeper 2.0 guidance surfaces
Expats Return to Australia – Travel Expenses
Profession to be relied on for post-JobKeeper turnover certificates
Update of Superannuation contribution rules from July 1, 2020
Expats & COVID-19 Impacts on tax residency
Economic recovery could be slower than anticipated: RBA
High Court rules in favour of employers on personal leave accruals
JobKeeper Phase 2 - Latest Update
Articles archive
Quarter 3 July - September 2020
Quarter 2 April - June 2020
Quarter 1 January - March 2020
Quarter 4 October - December 2019
Quarter 3 July - September 2019
Quarter 2 April - June 2019
Quarter 1 January - March 2019
Quarter 4 October - December 2018
Quarter 3 July - September 2018
Quarter 2 April - June 2018
Quarter 1 January - March 2018
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Quarter 4 of 2015
Articles
FBT – Christmas Parties and Taxi Fares
Merry Christmas for 2015 and Happy New Year.
Common errors in claiming deductions for super contributions
Employee Christmas Parties and Gifts – Any FBT?
Collectables Require Action Now
Why the ATO’s new powers make SMSF compliance more important than ever
Self Managed Superannuation Funds – Is it for Retirement?
ATO warns against misusing partnerships
The Scammers Shame
ATO offers SMSF 'unwinding' for aggressive tax arrangements
Salary and Wages PAYG Shortfall
SuperStream
Australian Taxation Office (ATO) Telephone Scammers – BEWARE!
Navigating the BDBN minefield
SMSFs warned on emerging LRBA issue
Short Access to Term Deposits
Retirees taking super in lump sum is a ‘myth'
Short Access to Term Deposits


                   


Investors will need to provide the bank with 31 days notice if you access the funds in your term deposit before the maturity date.


Investors in term deposits will often be confused by the excessive detail provided (often after the deposit is made).  The bank will go to great length to explain how difficult it will be to redeem the deposit only.  Only rarely will this matter.


If you have less than 31 days remaining on your term deposit, the earliest you can access funds is at maturity.


If you don’t provide the bank with alternative instructions, on maturity, your term deposit will automatically roll over for the same term at the applicable interest rate offered on the maturity date.  This is often where the bank wins (and you lose).  The rate you chose on first investment will often be less than the rate for a different term.  So be alert and prepared to continually change the term of investment (as well as bank).


Exceptions are if you are experiencing hardship.




24th-October-2015
 
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