Why not start 2010 with a new way to cut down your bookwork time. Talk to us about converting to Banklink for your record keeping. Our Banklink service package provides you with:

• Preparation of annual or quarterly financial statements
• Coding of monthly transactions
• Preparation of business and personal tax returns
• Preparation and lodgement of quarterly business activity statements
• Business advice & phone assistance
• Support by our team of professional accountants and administration support team 

Taggart Partners will work with your manual or electronic accounting systems to make your bookwork easy for you.
 

Taggart Partners can prepare six-monthly financial statements for your business. Accounts for July to December 2009 will allow you to monitor trading results and plan for any taxation liabilities accrued. 

For more information please contact Ross, Melanie or Cameron on 4962 2022.

Banklink provides our clients with an efficient way to manage bookwork and spread accounting work over the full year.

Our Banklink service package provides you with:

• Preparation of annual and quarterly financial statements
• Coding of monthly transactions
• Preparation of business and personal tax returns
• Preparation and lodgement of quarterly business activity statements
• Business advice & phone assistance
• Support by our team of professional accountants and administration support team

Taggart Partners will work with your manual or electronic accounting systems to make your bookwork easy for you.

The Australian Taxation Office (ATO) computer system will be unavailable from 22 January to 27 January 2010. 

The ATO advised that some processing will be suspended in the days leading up to the 22 January and processing will be delayed in the weeks following up until mid February 2010.

All businesses and individual taxpayers expecting a tax refund should aim to have their returns lodged as early as possible to reduce the likelihood of any delays.

A new financial year can be a great time to check that you are on the right financial track. Here are three simple tips that might get you started in 2010/2011.

• Revisit your budget
  – Taggart Partners has some terrific templates for home budgets that will help you understand what you earn and how you spend it now and for your future. Also check-out http://www.understandingmoney.gov.au – it’s full of great tips for saving money and how to plan your own budget.
   
• Financial Planning
  – make an appointment to see your financial planner. Circumstances change so ensure you meet at least annually with your financial planner to review your retirement and wealth creation plans.
   
• Visit Taggart Partners
  – it’s a great time to make sure you have all the necessary things in place for 2010/2011. We can help you make sure your tax plan fits with your income, your financial plans are on track and your business plans reflect your current activities.
   

Streamline your payroll by saving time and getting the right advice.

ADP's payroll solutions ensure that your payroll needs are met on time, every time, helping you to streamline your payroll process, improve productivity and simplify administration.

This is why ADP provides flexible corporate payroll services that improve payroll management for employers. They manage the time-consuming tasks of payroll processing so you can focus on your business.

Taggart Partners outsource its payroll to ADP Payroll, it is a simple, cost effective and a time efficient way to manage the team’s payroll.

For information: www.adppayroll.com.au

The next time you bring bookwork in to Taggart Partners why not pop it on a U.S.B. memory stick? U.S.B. drives are easy to access, and provide fast and effective transfer of information between locations and people.

Are you aware of the changes to industrial relations legislation? Taggart Partner is working with leading Industrial Relations expert and Principal of Effective Workplace, Greg Kerr, to assist our clients understand what these changes mean to their businesses. If you would like to know more please contact you adviser.

Hurry, time is running out to get a tax break on eligible business assets. Small business can claim an additional tax deduction of 50% of the cost of eligible new assets. You must commit to the purchase before 31st December 2009 and take delivery of equipment, cars or capital assets by no later than 31 December 2010 to claim a 50% tax deduction. This offer is part of the Federal Government’s stimulus package and applied to businesses with an annual turnover of less than $2 million. Businesses with turnover above $2 million may also be eligible for an additional tax deduction of 30%. Call us for further information

Taggart Partners has noticed a recent change in the attitude of the Australian Taxation Office around outstanding income tax debts and payment arrangements.

During the GFC the ATO has been supportive of small business and allowed many to pay tax debt over an extended period of time (and in some cases interest free).

Recently we have seen a change in this approach with the ATO taking firmer action on small business debt collection. While some payment arrangements are still available to small businesses, we have observed that the ATO is being more proactive in enforcing conditions of these payment arrangements.

The best possible way to ensure that you stay in favour with the ATO is to communicate with it about any issues you might have now or might have in the future. Please let us know if you have any issues with paying your instalments or debts to the ATO as we may be able to assist.