The PRWIRE Press Releases https:// 2019-06-17T23:36:19Z 15 minute coffee breaks are costing Australian businesses 2019-06-17T23:36:19Z 15-minute-coffee-breaks-are-costing-australian-businesses How much are coffee breaks costing your business? Media Release - 18 June 2019 JURA Australia reveals innocent 15 minute coffee breaks are costing Australian businesses much more money and time than they may realise. On average, according to JURA’s ‘Best Coffee Machines For Office’ Calculators, coffee breaks are costing businesses with 10 employees over $10,000 and 270 hours in lost time every year. Investing in a JURA coffee machine for your office space will increase productivity as it will minimise trips outside the office and is proven to boost employee morale. George Liakatos, General Manager of JURA Australia says, “Productivity is key in business. Employees need to feel empowered and committed to the overall mission and goals in order to be productive during their working hours. JURA fully automatic coffee machines are the ultimate workplace perk that cuts costs, saves time and delivers big for Australian businesses. Our range of professional machines increase employee morale and productivity all while saving precious company money. It’s a win-win for both employer and employee.” While the small company statistics may be scary – for larger companies with 50 employees, coffee breaks can cost the business an average of $46,000 and 1,350 hours in lost time each year! In this case, the cost of a JURA coffee machine would pay for itself within only two months of use. The average coffee break in Australian workplaces is 15 minutes, but offices with a coffee machine can get back that valuable work time. A JURA coffee machine for your office is a cost-effective approach that guarantees barista quality coffee at the touch of a button, as the machines use freshly ground beans, not capsuled pods. What is the JURA difference? All machines use beans, not pods (tastes like barista quality and great option for sustainably conscious businesses) The JURA J.O.E app allows users to create a coffee profile for each user down to the grind, amount of milk and type of coffee (save even more time as employees can save their own personal drink settings!) Save money, calculate how much here: www.bestcoffeemachineforoffice.com.au/calculators/ Simply press a profile and the machine will start making the personalised coffee (at the touch of a button) Easy to clean, simply plug in, add the cleaning solution and the job is done (no maintenance worries!) All in the one unit (except the milk container) The best office coffee machines: JURA WE8: 30 cups per day Featuring a wide choice of speciality coffees, the WE8 is equipped with a 3L water tank, a bean container for 500g of coffee beans and a grounds container with the capacity of 25 portions. The One-Touch function creates trend specialities like latte macchiato, flat white or cappuccino very simply at the touch of a button. The modern TFT display make operation incredibly simple even for inexperienced users. RRP $2,690. JURA X8: 80 cups per day The X8 is incredibly versatile: it can prepare the full range of speciality coffees finished with milk and milk foam as well as black coffees and the classic pot of coffee. For tea lovers, it also prepares hot water at different temperature levels. With its solid, height-adjustable dual spout, it can create a speciality coffee – or even two beverages simultaneously – and dispense them into the cups or glasses, at the touch of a button. RRP $3,949. *All calculations are general in nature and based on prices and offerings of JURA professional coffee machines. To discuss your exact needs and deals contact JURA or your local distributor. About JURA: JURA’s products stand for innovation, ease of use and sustainability. JURA believe in the perfect cup of coffee, using fresh beans, freshly ground and extracted at the touch of a button. The product range includes both machines for domestic use and professional models for the office and food service industry. In recent years the long-established Swiss brand has grown to become a global player, operating in around 50 countries. www.au.jura.com For more information, hi-res imagery or to trial a JURA coffee machine, please contact 360 PR: Rachel King – 02 9571 4448 – rachel@360pr.com.au Level Lemonade Now Available Nationally 2019-06-17T22:56:06Z level-lemonade-now-available-nationally Level Lemonade, the new “better for you” soft-drink range taking lemonade to a new level, is now available nationally at Caltex in three flavours; Original Lemon, Lemon&Orange and Lemon&Pineapple. In one single 300ml bottle, Level Lemonade contains the highest amount of magnesium found in any other drink on the market and also includes 100% of your daily intake of Vitamin C, while also being low in sugar. Based on the latest nutritional recommendations, Level Lemonade shows you how delicious a soft drink can be while also being ‘better-for-you’. One of Australia’s leading Dietitians and Nutritionists, Rebecca Gawthorne says, “Australians are becoming increasingly health conscious and seeking healthier alternatives to high sugar foods and beverages, including soft drink. I’m excited that Level Lemonade is now available nationally, as it gives Aussies the opportunity to choose a better drink option that tastes delicious and fits in with their healthy lifestyle.” “As well as being low in sugar, Level Lemonade contains Magnesium and Vitamin C. Magnesium is needed by our bodies to generate energy, make new proteins and helps keep our muscles and nerves healthy. Vitamin C helps protect our bodies cells from damage and is important for our skin, bones, connective tissue and immune system,” adds Rebecca. Level Beverages, the creators behind the new range, is excited to expand their existing range of “better for you” drink brands, which already consists of 28 BLACK natural energy drink and AriZona Iced Tea. Australia is the first country in the world to receive this truly innovative soft-drink range, with other Asia Pacific markets to follow. Managing Director of Level Beverages since 2013, Chrish Graebner, says, “We are very proud – after many years of research and development – to launch what we believe truly to be the next generation of soft-drinks. Looking for a healthful carbonated beverage is a major global consumer trend.” Level Lemonade is a premium soft drink and is ideal for anyone, the soft drink lover, for the sport and fitness fanatic, health conscious or maybe even for those in need of a hangover preventative to take as your last drink of the night. There’s a time and a place for everyone! Key differences between Level Lemonade and other soft drinks on the market include: High in Magnesium – with 160 mg per bottle Level Lemonade contains the highest amount of magnesium found in any other drink. Low Sugar – Level Lemonade is 97.5% sugar free. High in Vitamin C – The tangy drink will provide the 100% recommended daily intake of Vitamin C! High in Fizz – Level Lemonade has been carefully designed for consumers who like carbonated soft drinks, but are looking for a healthier alternative. “With kombucha being a popular choice for consumers of late, I am convinced that there are many people out there looking for a healthier, refreshing alternative who do not like the taste proposition of a fermented drink,” says Chrish. Level Lemonade is available now at Caltex nationally for RRP $3.85, selected Ezy Marts, a growing number of other fine retailers or online: www.level-lemonade.com @levellemonade #levellemonade For further information, images or product samples please contact: Rachel King @ 360 PR: rachel@360pr.com.au or (02) 9571 4448 Sydney CBD North Shore Sports Podiatrist Says Shoe Selection Prevent Injuries 2019-06-17T22:00:59Z sydney-cbd-north-shore-sports-podiatrist-says-shoe-selection-prevent-injuries Choosing your shoes wisely Probably the most popular form of footwear on the planet, sneakers have a long history. Did you know track and field star Jessie Owens wore Adidas when he won four gold medals at the 1936 Olympics? Comfortable, versatile and trendy, running shoes have since become the go-to in casual footwear. But with so many brands and styles competing for your sneaker spend, it can be a tough choice deciding which to buy. These days there are athletic shoes for every kind of sport, from tennis and hiking to basketball and trail running. And then there are some that simply aren’t intended for sports at all. Podiatrists are reporting an increase in cases of people suffering various foot problems and injuries, as a result of wearing the wrong footwear for their chosen fitness activity. Choosing fashion over function and using casual sneakers for physical activity could see you suffering from ‘expensive sneaker disease’. Sneakers with a low pitch increase pressure on the achilles and calf tendons. Wearing shoes with the wrong width (either too narrow or too wide) can cause corns, calluses and bunions. And unstable shoes with insufficient support can wreak havoc on your ankles, especially during activities that involve quick changes in direction. RELATED ARTICLE: Foot Podiatrist from Footwork Podiatry in North Shore Sydney CBD Sports Clinic Explains Sore Ankle Flexibility, Growing Pain and Flatfeet Footwear Australia's leading Sports Podiatrist and Director for Footwork Podiatry, Mark Lin, recommends seeing a podiatrist before taking up a new sport, so as to get expert advice on the best type of shoes for your feet. “People’s feet are as individual as they are, and shoes that work for one may not work for another. Choosing the right shoes for the right activity is also very important, and good ankle support is crucial to avoid excessive stress and potential injuries. Investing in the right shoes can save you costly injuries later on. A good athletic shoe should provide both ankle and arch support and have a wide toe box that bends upwards, to give your toes plenty of room to move around naturally. Undertaking sports on a regular basis in shoes intended as casual wear will result in pain and injury at some point, affect your performance, and potentially cause long-term damage to your feet." Hence the importance of choosing your shoes wisely based on the activities you plan to perform in them. Ultimately, you’ll be doing your feet and your wallet a huge favour by choosing the right shoes for the right purpose, rather than being won over by the latest style. Footwork Podiatry is passionate about helping people improve and maintain their health, and share a philosophy that advocates special treatment of the feet due to their complexity. They believe that looking after the feet is the key to maintaining an active healthy lifestyle for as long as possible. RELATED ARTICLE: Roseville Sydney CBD Sports Podiatry Cures Runners Of Achilles Tendinitis, Runners Knee Offering a range of advanced treatment methods and hands-on healing techniques, they can assist with any foot pain or injury you may have. Footwork Podiatry is situated in Roseville on Sydney’s North Shore and Sydney CBD. Footwork Podiatry takes top-quality care seriously and is your go-to source for any running related injuries. Find them in two convenient locations, in Roseville on Sydney’s North Shore and Sydney CBD. For further information, visit the Sports and Podiatrist Clinicto book online, or call Mark Lin or Wei Lee and their friendly team on +61 2 9416 7889. The information contained in this guide is provided in good faith and is not intended to be nor is it to be used as a substitute for any sort of professional, medical or podiatric advice. An accurate diagnosis can only be made following personal consultation with a podiatrist. Any users should always seek the advice of their podiatrist, or other qualified healthcare providers before commencing any treatment. Syndicated by Baxton Media, the Market Influencers. Tree and Stump Removal Arborist Vegetation Pruning South East Melbourne Victoria 2019-06-15T22:00:57Z tree-and-stump-removal-arborist-vegetation-pruning-south-east-melbourne-victoria Pruning tips for tree health and safety Pruning is the most common tree maintenance procedure and is done for a variety of reasons. Removing dead, dying or diseased branches improves the health of the tree and promotes healthy growth. Dead branches also pose a danger to people and property. In urban areas, branches may get too close to electrical lines or block traffic views. In areas prone to cyclones, pruning dead limbs and thinning out branches is a good idea before cyclone season begins. Excess foliage can result in trees being top heavy and being more vulnerable to toppling over in storms, with the additional danger of falling branches that could damage buildings or other property. RELATED ARTICLE: Melbourne Arborist Vegetation Management Expert Specialist James O'Brien Tree Removal OB Trees Stump Removal Pruning Victoria Pruning may also be done to regulate the size and shape of the tree, or to improve the quality of the flowers, fruit or timber. Other specific types of pruning may be undertaken to maintain a mature tree in a safe, healthy and attractive condition. Knowing the basic terms commonly used to describe tree work operations will allow you to ask for what you want and understand what your arborist recommends for your tree requirements. Thinningis a process of selective branch removal to improve the structure of the tree, reduce weight on heavy limbs and to increase light penetration and air flow throughout the tree. This can also increase foliage and decrease the risk of disease. Crown Thinning involves theremoval of a portion of smaller branches, usually from the outer crown, to create a uniform density of foliage and an evenly spaced branch structure. Crown thinning does not alter the overall size or shape of the tree, but does allow more light to pass through the tree and reduces weight and wind resistance. Crown Lift or Crown Raising involves the removal of the lowest branches, to effectively increase light transmission to areas closer to the tree or to provide clearance for buildings, vehicles, people, and vistas. Good practice dictates that crown lifting should not typically include the removal of large branches growing directly from the trunk, as this can lead to long term problems with disease and decay or biomechanical instability in the short term. In mature trees lifting should be restricted to secondary branches or shortening of primary branches rather than removal of the whole branch. Crown Reduction reduces the size of a tree, often for power line clearance. This is achieved via a reduction in height and/or spread of the crown of a tree. A crown reduction may be undertaken to reduce mechanical stress on individual branches or the whole tree, reduce shading or to make the tree more suited to its immediate environment. Pruning in young trees Proper pruning of young trees is essential to developing a strong structure and desirable form. Pruning trees correctly while they are young will ensure that they require less corrective pruning as they mature. For most young trees, it’s essential to maintain a single dominant leader growing upward, and secondary branches should be pruned so as not to outgrow the main leader. Leading Australian arborist James O'Brien has been providing high-quality tree care to Melbourne clients for nearly a decade, including pruning, landscaping and tree removal. “The best time for pruning most trees is in late winter when the tree is dormant. Tree work undertaken in the spring may cause a tree to become more vulnerable to attack by pests and disease, and if done in autumn the tree may not be able to get all the nutrients that it needs and suffer undue stress. Pruning should also be avoided during periods of seasonal weather extremes such as drought or heavy frost, or during a period of physiological stress following previous tree work, or construction-related damage. Pruning should always be preceded by a proper evaluation of the tree’s condition, and significant pruning such as a crown lift, reduction or crown thinning should be carried out by a qualified arborist. Improper pruning can create lasting damage or even shorten the tree's life,” says O'Brien. OB TREES Arborist and Vegetation Management Specialists service southeast Melbourne suburbs. And specialise in professional tree care, providing fast, simple solutions for all your pruning, horticultural and landscaping needs. The team are fully qualified, insured arborists with years of hands-on experience in everything from tree pruning, removal and preservation to hedge trimming, stump removal, risk management, vegetation management and tree obstruction resolution. For further information visit OB TREES Arborist and Vegetation Management Specialistsor call their friendly team on +61 435 912 457 Syndicated by Baxton Media, the Market Influencers. Accountant Thomas Mousa TLK Partners Business Wealth Advisors Sydney Financial 2019-06-14T22:00:27Z accountant-thomas-mousa-tlk-partners-business-wealth-advisors-sydney-financial Financial 'Lambs to the slaughter' warns financial expert This year we have seen a significant power shift for consumers, with the government investing heavily in heightened financial protections. Through thorough reviews of bank reforms and consumer lending policies, control is slowly being readjusted back into the hands of the Aussie public. In fact, the 2019 Coalition government’s budget pledged $640 million to continue to restore trust in the financial sector by implementing the recommendations of the Royal Commission. These developments are encouraged and importantly, long overdue. However, the government, despite many calls and promises to do so, has been slow to enact change against one of the most glaringly obvious issues facing Australian consumers — predatory finance practices such as payday loans. Australian financial expert, Thomas Mousa, senior partner of Sydney-based TLK Partners says, "effective interest can run into hundreds of per cent with payday loans and that interest further devastates families who are already devastated." They have failed to recognise the low hanging fruit that could save thousands of vulnerable Australians from financial hardship. We only need to look to the Senate Inquiry into Financial Hardship that explicitly noted payday loans are perpetuating debt cycles among vulnerable Australians and aren’t being taken out for emergencies, but to pay off existing loans and meet cash shortfalls. Little is being done to crack down on the issue and while politicians drag their feet on stamping out predatory lending, there are serious implications for Australians. RELATED ARTICLE: Retirement Planning Financial Management Wealth Tax Advisors Sydney NSW TLK Partners With the rising cost of living headlining Morrison’s budget this year and an election on the books, it’s clear that now, more than ever, we may need to rethink the way Australians get paid to better suit their personal financial pain points. In 2018, 2.1 million Australians aged 18 and over shared that they experience severe or high financial stress according to the Centre for Social Impact and NAB. Similarly, research from MLC found that 46 per cent of Australians are living pay-cheque to pay-cheque. And this isn’t looking like it’s going to change any time soon. Recent Australian Bureau of Statistics (ABS) stats showed that more than one million Australians have two jobs to make ends meet. Fortunately, there is a path forward and a way of managing financial concerns that employers can provide by focusing on financial wellness, providing important benefits to employees and their bottom line. A Harvard study found that investing in employee financial wellness leads to an increase in retention, boosts morale and increases productivity. This is more than just office yoga, it’s offering people a chance to take back financial control and relieve part of their financial stress. RELATED ARTICLE: Property Tax Wealth Advice Accountants Kingsgrove Sydney by Expert Matthew Mousa TLK Partners We know that financial vulnerability can lead to stress. And we know that financial stress isn’t reserved for one sector of the population, it’s felt by those across all income brackets. AMP found earlier this year that those who earn between $50,000 to $74,999 are the most likely to feel stressed about money – but that doesn’t exclude the rest of us. Mousa says, "there are more demands put on our income at this time than at any other point in history," and he says, "that demand is getting worse." The data tells the story loud and clear: employee financial concerns can have a detrimental impact on business. AMP found it costs an estimated $31.1 billion per year in lost revenue for Australian businesses. That’s a massive hit on Australia’s economy and one that isn’t being taken seriously enough. Employers have an important role to play in helping the rest of us tackle predatory lending. Eradicating established practices like payday loans isn’t simple, and is going to require both politicians and businesses taking responsibility for the financial wellness of Australians. But positive progress is being made, and the potential is huge. So, while politicians are slow to act, employers have the power to cultivate change — and lucky for us, they’re only getting started. TLK Partners Wealth Management Companies Kingsgrove, Beverly Hills | Tax Accountant & Agent | Property Advisersare financial management, retirement planning and wealth advisers serving enterprises and private individuals who hope to take care of their future through sound financial management. Visit their website or contact them at (02) 8090 4324 for an appointment to discuss your financial management and investment needs. This material is of a general nature only, and it does not take into consideration your financial circumstances, needs or objectives. Before making any decision based on this content, you should assess your own circumstances, seek professional advice or contact our office to be directed to the appropriate professional. Whilst all care has been taken in presenting the material neither TLK Partners or its associated entities guarantee that the material is free of error and, the information may have changed since being published. Syndicated by Baxton Media, the Market Influencers. Aged Care Pension Administration Wealth Financial Planning Sydney Tax Accountant 2019-06-13T22:00:57Z aged-care-pension-administration-wealth-financial-planning-sydney-tax-accountant Red-tape is killing small businesses The engine room of the economy may be at risk of stalling, as new research reveals the weight of administration and red tape is costing small business an average of 541 hours in time, and $14,857 in money each year. This is a total annual cost of more than $20.16 billion per year for Australian small businesses. The In The Zone research from leading Australian accounting software provider, Reckon, revealed that almost half of small business owners (46%) say the admin and red tape of running their business is ‘killing the dream’ that made them start it in the first place. The survey of more than 1,300 small business leaders across Australia sought to investigate the benefits and barriers to achieving peak performance – or being ‘in the zone’ – at work. It comes ahead of the deadline to adopt Single Touch Payroll (STP), which is the biggest compliance change for employers since the introduction of GST almost 20 years ago, and will require more frequent reporting of payroll information to the ATO. “Being ‘in the Zone’ – is, a continual, concentrated, mental effort of heightened focus, efficiency and productivity,” says financial expert Thomas Mousa, partner and director of Sydney-based TLK Partners. RELATED ARTICLE: TLK Partners Sydney, NSW Aged Care and Financial Income Protection Expert Delivers Investors Tax Wealth Clients Warning to Australian Investors Over a fifth (22%) of small business leaders said that the pressure of admin makes it hard for them to get ‘in the zone’ and do their best work to succeed and grow the business. Per week, many spend more time on administration and payroll (at an average of 10 or more hours) than they do operating at their peak (an average of fewer than 10 hours). Some of the biggest barriers preventing small business owners from achieving peak performance include having to do administrative tasks, feeling tired or stressed from work, or interruptions from phone calls and emails. Entrepreneur, and CEO and Founder of The Remarkable Woman, Shivani Gopal, encourages all small business owners to realise the financial and emotional benefits of seeking ways to get ‘in the zone’. “Small changes can have a big impact. This research shows that even simple steps such as moving to a more comfortable workspace, using music or exercise can boost productivity and happiness – to the point of positive financial returns,” said Gopal. To stay on top of their admin, payroll and compliance requirements, respondents are willing to make a number of sacrifices at the expense of their health and wellbeing. 84 per cent of small business leaders said they would make a lifestyle sacrifice because of admin workload or requirements, with 50 per cent specifically saying they would sacrifice their wellbeing, including sleep. RELATED ARTICLE: Trading Cryptocurrency are Not Viable Investments Says Kingsgrove Financial Wealth Advisor of TLK Partners in Sydney The In the Zone research revealed that the average small business owner gets approximately 4.5 hours sleep per night, far less than the recommended 7-9 hours [1]. 13 per cent of respondents even say they do their admin and payroll before 6am. “Health and wellbeing is a huge cultural conversation, but unfortunately it seems small business owners are not heeding advice, or simply not able to due to the demands placed on them, which is a real concern,” said Gopal. Small business leader and Managing Director at T.E.C.K.nology Indigenous Corporation, Leslie Lowe, explains that the pressures of running a small business can make it difficult to create a work-life balance. “Running your own business can be incredibly stressful. There have been a number of times when I found myself prioritising work over health and wellbeing, such as skipping on sleep, when the everyday demands of sustaining a profitable business and admin pressures build up. To stay on top of emails, admin and compliance reporting, I’m often up at 4am to make an early start on the day,” said Lowe. The research found that the pressure of administrative tasks and red tape has caused 58 per cent of small business leaders to make an error that has had a financial implication, such as over or underpaying a supplier or employee, or transferring payments to the wrong person. This could also be due to time-poor small business leaders trying to juggle several things at once. 84 per cent say they have done their business admin or reporting while multitasking – for instance, a quarter have watched TV or used a streaming service while doing admin and payroll tasks. Concerningly, ahead of the STP requirements, 21 per cent or 659,000 of small business leaders in Australia don’t believe or don’t know if their business meets all existing compliance requirements, let alone upcoming changes from 1 July. Around a quarter (24%) also admit that they do not currently use an accounting and payroll software, which is a pre-requisite to getting STP-compliant with the ATO. "Helping businesses remain compliant is the speciality of TLK Partners," Mousa concluded. TLK Partners Wealth Management Companies Kingsgrove, Beverly Hills | Tax Accountant & Agent | Property Advisers are financial management, retirement planning and wealth advisers serving enterprises and private individuals who hope to take care of their future through sound financial management. Visit their website or contact them at (02) 8090 4324 for an appointment to discuss your financial management and investment needs. This material is of a general nature only, and it does not take into consideration your financial circumstances, needs or objectives. Before making any decision based on this content, you should assess your own circumstances, seek professional advice or contact our office to be directed to the appropriate professional. Whilst all care has been taken in presenting the material neither TLK Partners or its associated entities guarantee that the material is free of error and, the information may have changed since being published. Syndicated by Baxton Media, the Market Influencers. Aged Care Pension Effects Business Wealth Financial Planning Tax Accountant 2019-06-12T22:00:54Z aged-care-pension-effects-business-wealth-financial-planning-tax-accountant 4 in 10 New Businesses Fail in First 4 Years Australia is home to more than 2,065,523 small businesses employing less than 19 people, accounting for 97 per cent of all Australian businesses by employee size. While small business failures are still a concern with four in 10 not surviving more than four years, there has been growth in the numbers of small businesses over the year. Many businesses in Australia are still family owned and are often too busy dealing with today’s operations to worry about who will be running the business when the owners no longer wish to. However, putting off establishing a clear-cut succession plan in a family business can inevitably lead to future problems and can drive a deep wedge into the closest of families. Australian financial expert Thomas Mousa, a chartered accountant, director and partner at Sydney-based TLK Partners says, "To ensure continuity, a succession plan is essential for every family business and this is regardless of whether the family runs a global empire, family farm or corner store." "Although you can talk about the family business around the kitchen table, it is a good idea to have formal family meetings with a structured business agenda. Consider having someone external to the family facilitate these. This is also an opportunity to encourage open discussions to ensure there isn’t a break-down of communication between all the family members involved in the business," Mousa suggests. RELATED ARTICLE: Compliance Costs for Wealth Management and Financial Services Could Harm Your Business says Sydney Chartered Tax Accountants TLK Partners Have a plan for the exit of the older generation by setting dates and ensure there is enough retirement planning to ensure the older generation is well looked after for in retirement. Mousa says, "If you fail to have the total support of the older generation then they are unlikely to relinquish their control and position in the business." Who replaces the older generation is a vital issue for the business to succeed. "It may not always be appropriate for the eldest child to automatically take the lead (whether they expect to or not). There must be open and frank discussions on this issue and a firm decision made on a suitable successor. Having someone to take over the business for the right reasons and not based on an obligation is essential, so choose wisely," Mousa said. "Getting the right advice is essential," Mousa explains, "it is crucial that all-important planning issues are discussed with your professional advisers. A solicitor will assist in drafting documents including any applicable loan documentation, an accountant will assist with the tax implications on the sale of the business and your financial planner will assist in the retirement planning for the older generation and superannuation." RELATED ARTICLE: Superannuation Tax Estate Planning Private Wealth Financial Planning Sydney TLK Partners Mousa recommends to "set dates for future meetings so that discussions continue until the succession plan business has been completed and all family members have been provided for." It is important that you keep your succession plan current. Changes in personal circumstances, health and goals can prompt an alteration in a succession plan and these should be reviewed and updated to ensure that what you have agreed upon remains relevant. "TLK Partners promote a simple and commonsense approach of preparing in advance, seeking professional advice supported by sound, unemotional management, to set the future of the business in good stead and allow it to continue in its success for many years to come, " Mousa concludes. TLK Partners Wealth Management Companies Kingsgrove, Beverly Hills | Tax Accountant & Agent | Property Advisers are financial management, retirement planning and wealth advisers serving enterprises and private individuals who hope to take care of their future through sound financial management. Visit their website or contact them at (02) 8090 4324 for an appointment to discuss your financial management and investment needs. This material is of a general nature only, and it does not take into consideration your financial circumstances, needs or objectives. Before making any decision based on this content, you should assess your own circumstances, seek professional advice or contact our office to be directed to the appropriate professional. Whilst all care has been taken in presenting the material neither TLK Partners or its associated entities guarantee that the material is free of error and, the information may have changed since being published. Syndicated by Baxton Media, the Market Influencers. Road rage and bad driving sees more dash cams being installed 2019-06-12T01:38:58Z road-rage-and-bad-driving-sees-more-dash-cams-being-installed It seems that not a day goes by when we don’t hear about a road rage incident or see a case of really bad driving. This is prompting more drivers to install dash cams — or car dashboard cameras — in their vehicles to insure themselves against adverse outcomes that may occur as a result. Along with many other reasons to use a dash cam, it’s the user’s hip pocket that’s the winner: protecting their finances and personal property, and importantly, their time. For example, with rear-ending being the most common type of car accident in Australia, drivers of the car who did the rear-ending are usually considered at fault unless they can prove otherwise. If they are innocent, a dash cam with a crisp clear recording can help prove it straight away. Clear footage can also help identify vehicles that leave the scene of an incident. Insurance companies love dash cams because they can then chase the real instigator of the crash and the affected driver isn’t recorded as being at fault. At its heart, a dash cam continuously records video and audio as well as other information such as location, date, time and speed. Leading Australian safety products company, Andatech, has introduced new DriveSense Ranger dash cams that use the latest generation technology and provide exceptional camera quality. G-sensor detects vibrations Ensuring the video footage is protected when needed is crucial, which is assisted by the gravity sensor (G-sensor) in the device. DriveSense dash cams have a built-in G-sensor that uses indicators such as vibrations and sudden jolting motions to alert the user to protect the recorded file so it cannot be deleted or overwritten. The G-sensor sensitivity can be set to low, medium, high or switched off completely. A film file can also be manually selected to lock or protect, which is then saved in a separate folder in the microSD card and cannot be deleted. Andatech’s two dash cam models comprise the DriveSense Ranger Dash Cam with WiFi and GPS ($249) and the DriveSense Ranger Duo Dash Cam ($299), which has both a front and rear dash cam with GPS. DriveSense features Features of the DriveSense Ranger dash cams include: * Recording in high resolution super HD 1080p at 30 frames per second to ensure it will pick up details such as licence plate numbers. * 1.5 or 2-inch LCD colour screen that is lightweight and compact without blocking the field of view. * A built-in accelerometer that records the speed of the vehicle while driving and is shown in every video recording. * 150-degree wide angle view with six-layer glass and infrared vision that provides an excellent field of view, comfortably covering up to five lanes of traffic. * 4x digital zoom to check details of licence plates, road signs and street names and large f/2.0 aperture, which provides vivid recordings under low light conditions and clear images even at night. * Ability to record videos in 3, 5 or 10 minute segments or continuously. Once the memory is full, the dash cam will start writing over older files seamlessly (excluding locked files). DriveSense dash cams have auto start up and shut down and users can enable or disable motion detection. Following the easy installation, it can connect directly to a smartphone for viewing and downloading files using the free DriveSense app. Andatech’s dash cams provide crisp clear recordings, full functionality and connectivity for an easy, seamless user experience. Both units come with a 32GB micro SD card and one-year warranty. For more information visit: https://www.andatechdistribution.com.au/collections/dash-cam About Andatech: Andatech is a 100% Australian owned company that designs, supplies, supports and services safety products including high quality alcohol and drug testing equipment. The company has the widest range of Australian Standard-certified breathalysers in Australia, which are designed for personal use, workplaces, hospitality venues (wall mounted) and as car interlock devices. Drug testing kits cover saliva and urine testing of up to 9 drug groups, providing error-free results. Andatech’s distribution channel offers consumer safety and air quality products including dash cams, FIR heater, dehumidifiers, air purifiers and humidifiers. https://www.andatech.com.au/ https://www.andatechdistribution.com.au/ Aged Care Pension Effects Property Wealth Financial Planning Tax Accountant 2019-06-11T22:00:59Z aged-care-pension-effects-property-wealth-financial-planning-tax-accountant Almost 66% of Australians will qualify for some kind of aged pension The aged care pension provides benefits to retirees. It pays an income until death that is adjusted for inflation, providing a benefit against poverty and higher prices in our later years. Even though age pension benefits may sometimes be quite small, the fact that they continue until death can help manage the risk of living longer than planned for in retirement. For example, a male/female couple both aged 67 today has a 50 per cent chance that at least one of the couple makes it to age 90 and a 5 per cent (1 in 20) chance that one of them makes it to age 99. Australian financial expert, Thomas Mousa, is a Chartered Accountant and partner at Sydney-based TLK Partners who specialise in aged care advice. “Because the age pension is means tested and personal situations and goals vary so much, this is one of the occasions when it makes sense to consider using a financial advisor to help understand the rules and factor the age pension into your broader retirement financial plan,” Mousa said. RELATED ARTICLE: Aged Care Property Investor Rental Income Tax Advice Kingsgrove Chartered Accountant “To decide how much age pension you are entitled to receive, the government considers your assets and your income. The level of pension received is based on which of those means tests produces the lower benefit,” Mousa explains. Mousa says, “On a basic level, the lower your assets and income, the more age pension you will be entitled to as its role as a safety net kicks in up to the maximum amount of $843.60 a fortnight for a single pensioner and $635.90 each for a couple, as at June 2019.” A financial advisor experienced in the interaction of the social security and superannuation systems can help understand how these rules work and in particular the key breakpoints where benefits reduce. An advisor can also help make decisions about how these breakpoints interact with financial goals. Financial advisors can also help guide through other key considerations, including Rules on the treatment of annuities for means testing;Pension loan schemes to increase age pension using home equity; and links between age pension and related benefits, such as the Commonwealth Seniors Health Card. RELATED ARTICLE: Sydney Aged Care Estate Financial Wealth Planners and Tax Experts of TLK Partners in Kingsgrove Warn Ageing Investors in Sydney Mousa says, "Whether considering options for yourself or deciding how best to help someone close to you, aged care is a complex area that requires careful thought and planning. The uncertainty around where and when to move, how much it will cost and where the money will come from can be overwhelming and stressful. Early and effective planning is critical to ensure that client affairs are properly structured to maximise benefits, reduce costs and retain control. The complexities in aged care may require legal, taxation and financial planning expertise, so you need a competent, experienced team to assist you. TLK Partners provide a range of options for clients to consider so they can make an informed choice that best suits their circumstances," Mousa concluded. TLK Partners Wealth Management Companies Kingsgrove, Beverly Hills | Tax Accountant & Agent | Property Advisers are financial management, retirement planning and wealth advisers serving enterprises and private individuals who hope to take care of their future through sound financial management. Visit their website or contact them at (02) 8090 4324 for an appointment to discuss your financial management and investment needs. This material is of a general nature only, and it does not take into consideration your financial circumstances, needs or objectives. Before making any decision based on this content, you should assess your own circumstances, seek professional advice or contact our office to be directed to the appropriate professional. Whilst all care has been taken in presenting the material neither TLK Partners or its associated entities guarantee that the material is free of error and, the information may have changed since being published. Syndicated by Baxton Media, the Market Influencers. SE Melbourne Tree Trimming Surgeon and Stump Removal Vegetation Pruning Arborist 2019-06-10T22:00:41Z se-melbourne-tree-trimming-surgeon-and-stump-removal-vegetation-pruning-arborist Choosing a qualified arborist is a wise decision People and companies offering tree work abound, but owning a chainsaw and a ladder doth not an arborist make! Leaving your tree work to an inexperienced or unaccredited tree feller could result in serious injury to people, damage to property and harm to your trees that have taken many years to grow. To avoid ill-advised and poorly executed tree work, it’s essential to check that contractors have the necessary skills and competencies carefully. Tree work can be hazardous and requires extensive training and experience to be done safely. RELATED ARTICLE: Melbourne Arborist Vegetation Management Expert Specialist James O'Brien Tree Removal OBTrees Stump Removal Pruning Victoria It’s therefore recommended to confirm the following with any prospective contractor before commencing with tree work: Evidence of insurance; Relevant qualifications (ask to see certificates for chainsaw and other machine use, arboricultural knowledge and training); Confirm quotations will be in writing; Membership of industry associations; and Provision of references with telephone numbers. When satisfied the contractor meets these requirements, obtaining a quotation is the next stage, which should reflect the following information: Clear and full specification of the work to be undertaken. What will happen to the timber, brushwood and tree stumps. Who will be responsible for obtaining permission if the trees are protected. What steps will be taken to protect you and your property, and whether GST is included. Tree work contractors should always be equipped with the following protective clothing and equipment: Industrial chainsaw helmet; Full-face visor including eye protection; Ear defenders for hearing protection; Rope and harness for fall protection; Chainsaw trousers and boots for cut protection; and Modern chainsaw with safety features. Melbourne specialist arborist James O'Brien of OB Trees, comments, “Where tree pruning or felling is concerned, economising on safety will generally cost more in the long run. There are a multitude of risks that need to be taken into account, especially if a large tree needs to be cut down. If the tree is at the roadside, traffic protection must be in place, including road signage and traffic management. Ensuring that pedestrians and vehicles are not at risk of being hit by falling timber and that neither buildings, fencing, other trees or street infrastructure will be damaged is imperative. The last thing needed is for someone to be injured on site. And it’s not only the climber that needs protective gear, but the groundsman should also always have head injury protection too and high visibility clothing if necessary.” OB Trees guarantee the highest safety standard and work under the stringent Occupational Health and Safety Standards. Details of their numerous qualifications which make their work risk-free can be found on their website. OB Trees have been established arborists in Melbourne for almost 10 years and guarantee high quality, professional service. Their areas of expertise include risk management, emergency management and vegetation management for both residential and commercial clients. OB TREES Arborist and Vegetation Management Specialists service southeast Melbourne suburbs. And specialise in professional tree care, providing fast, simple solutions for all your pruning, horticultural and landscaping needs. The team are fully qualified, insured arborists with years of hands-on experience in everything from tree pruning, removal and preservation to hedge trimming, stump removal, risk management, vegetation management and tree obstruction resolution. For further information visit OB TREES Arborist and Vegetation Management Specialists or call their friendly team on +61 435 912 457 Syndicated by Baxton Media, the Market Influencers. Financial Expert Thomas Mousa Reminds Small Business Single Touch Payroll Legislated From July 2019 2019-06-10T22:00:22Z financial-expert-thomas-mousa-reminds-small-business-single-touch-payroll-legislated-from-july-2019 Single Touch Payroll Legislated From July 2019 The ATO sent letters to business owners inviting them to start reporting through Single Touch Payroll (STP) almost a year ago, but as of 1 July 2019, it will be legislation. So, if you’re a small business owner with 19 employees or less and use payroll software you’re included. Financial expert Thomas Mousa, director and partner at Sydney-based TLK Partners says “small business clients should speak with their accountants to ensure compliance and reach out to their software providers to ensure STP is available by the end of June.” RELATED ARTICLE: Superannuation Tax Estate Planning Private Wealth Financial Planning Sydney TLK Partners “Single Touch Payroll allows employers to notify the ATO of their employees’ superannuation and tax obligations each payday,” Mousa said. “Employers can do this by using payroll or accounting software with the STP feature. Most packages have this feature available now,” Mousa continued. Single Touch Payroll is streamlining the payroll reporting process while also ensuring that employers are compliant and paying superannuation and employee tax obligations on time. The due dates for payment of PAYG Withholding Tax and superannuation will not change. Mousa says, “A major benefit of the system removes the requirement to prepare Payment Summaries and the Annual Payment Summary Statements. And, in the future, the ‘wages’ and ‘PAYG’ labels will be pre-filled in Business Activity Statements. That means less administration for you!” Mousa stated. RELATED ARTICLE: Aged Care, Estate Planning and Private Wealth Management Tax Accountant Financial Expert of TLK Partners Sydney Explains Credit Card Debt Problems STP will also allow your employees to view their year-to-date tax and super information through the myGov website. They can also view their payment summary information at the end of the year there. New employees will be able to lodge their Tax File Number Declaration and Super Choice Forms through STP. From 1 July 2018, employers with 20 or more employees started reporting tax and superannuation information using STP. Employers with 19 employees or less will also have to report using STP from 1 July 2019. "TLK Partners keeps its clients up-to-date with a whole range of ATO related matters, an ensure compliance for them," Mousa concludes. TLK Partners Wealth Management Companies Kingsgrove, Beverly Hills | Tax Accountant & Agent | Property Advisers are financial management, retirement planning and wealth advisers serving enterprises and private individuals who hope to take care of their future through sound financial management. Visit their website or contact them at (02) 8090 4324 for an appointment to discuss your financial management and investment needs. This material is of a general nature only, and it does not take into consideration your financial circumstances, needs or objectives. Before making any decision based on this content, you should assess your own circumstances, seek professional advice or contact our office to be directed to the appropriate professional. Whilst all care has been taken in presenting the material neither TLK Partners or its associated entities guarantee that the material is free of error and, the information may have changed since being published. Syndicated by Baxton Media, the Market Influencers. Sports Podiatry Roseville Sydney CBD On Feet Injury Foot Pain Ankle Sprains Toes 2019-06-10T22:00:09Z sports-podiatry-roseville-sydney-cbd-on-feet-injury-foot-pain-ankle-sprains-toes Who should you consult first for an ankle sprain - a GP, Physiotherapist or Podiatrist? A sprained ankle is a common injury that many people will suffer from at some time in their lives. An unexpected movement can cause the foot to suddenly twist, forcing the ankle joint out of its normal position, and stretching or even tearing the ligaments around the ankle. People will often consult their GP or a physiotherapist as their first point of contact when they suffer an ankle sprain or injury. But a GP or physiotherapist may not always have enough experience and the specialised knowledge to effectively determine the extent of the injury and prescribe appropriate treatment to help you get relief from pain and provide a long-term rehabilitation plan to restore the ankle strength and movement. RELATED ARTICLE: Leading Sydney CBD and North Shore Sports Podiatrist New Toe Nail Bracing Treatment for Ingrown Toenails Eliminates Need for Surgery A delay in the correct treatment often means prolonging the recovery time, with the added risk of long term damage to the ankle. This can negatively impact daily physical activity, lead to an inability to take part in sports activities and result in lingering or recurring pain that can last for years. An incorrectly treated ankle sprain can even lead to the early onset of arthritis in the ankle. Mark Lin, the Principal Sports Podiatrist and Director for Footwork Podiatry, comments, “It’s really important to get the right diagnosis from the start in order to avoid long term damage. Seeing a sports podiatrist will ensure that you get the best rehabilitative treatment, to eliminate pain, restore full movement and function, and reactivate the muscles to support the ankle. Our specialised techniques will address any joint displacement and realign the ankle joint, facilitating a full and speedy recovery and prevent a recurrence. With timely treatment, our patients are usually able to get back to their usual level of daily movement including sports activity in the shortest possible time. In many cases, our treatment will not only restore optimal function but actually make the ankle stronger and more stable than before the injury. This is because we also address any pre-existing biomechanical issues during the treatment of the injury.” RELATED ARTICLE: North Shore Sydney CBD Foot Podiatrist Says Kinesiology Sports Tape Might Help Prevent Injuries and Reduce Inflammation Pain Footwork Podiatry will not only assess and treat your symptoms, but they will also perform a measurable and functional assessment to determine whether you are at risk of other pain and injuries. Their latest evidence-based assessment system allows them to collect meaningful data that converts to an accurate treatment plan as well as determine when you can get back to playing sports safely. “We believe the body has an incredible capacity to heal itself from injuries. Our range of revolutionary, evidence-based treatment modalities, advanced manual therapies, alternative solutions and unique hands-on treatment techniques work to stimulate the body’s own healing response. Using Foot mobilisation, Trigenics, low-level laser therapy, and corrective exercises, we offer the most effective treatment to treat a sprained ankle,” says Lin. The team at Footwork Podiatry undertake regular in-house training and ongoing professional development in order to stay at the forefront of musculoskeletal skills. This ensures that their customers receive the most up-to-date and evidence-based clinical assessment and treatment. Footwork Podiatry is situated in Roseville on Sydney’s North Shore and Sydney CBD. They are dedicated to improving the quality of life and achieving people's optimal well-being. Visit the Sports and Podiatrist Clinic to book online, or call Mark Lin or Wei Lee and their friendly team on +61 2 9416 7889 to get the best treatment advice for a sprained ankle and any other foot and leg injuries or conditions. The information contained in this guide is provided in good faith and is not intended to be nor is it to be used as a substitute for any sort of professional, medical or podiatric advice. An accurate diagnosis can only be made following personal consultation with a podiatrist. Any users should always seek the advice of their podiatrist, or other qualified healthcare providers before commencing any treatment. Syndicated by Baxton Media, the Market Influencers. Financial Expert Thomas Mousa Says ATO Report On Private Trusts Is Ludicrous 2019-06-09T22:00:59Z financial-expert-thomas-mousa-says-ato-report-on-private-trusts-is-ludicrous Financial Expert Warns An ATO Commissioned Report On Private Trusts Is Absurd Trusts designed to maximise income tax, protect assets and wealth is not a new scenario, but a recent report commissioned by the Australian Taxation Office suggests that wealthy people are avoiding paying billions in tax by using private trusts. The report prepared by RMIT University said income from trusts was more than $340 billion in 2013-14, but there is no register of trusts in Australia and failure to lodge tax returns is a key problem. The mechanism for taxing trusts in Australia was introduced into the Income Tax Assessment Act in 1922. Trusts are widely used in Australia for investment, real estate and business purposes to hold a property for individuals, families and companies. The report found 73 per cent of trusts in Australia is discretionary trusts involved in trading or investment. That is in contrast to other countries where they are mostly used for the administration of wills and deceased estates, donations to charities and to provide income for people unable to manage their own affairs. The report revealed in 2015-16, there were nearly 850,000 trusts in Australia — one for every 29 people, with assets of more than $3 trillion — and the prediction is there could be more than a million trusts by 2022. RELATED ARTICLE: Investor and Property Acquisition Tax Investment Specialists TLK Partners Sydney Leading Australian financial and wealth expert Thomas Mousa, a partner at Sydney-based TLK Partners said, "it is perfectly legal for trusts to hold assets and maximise taxation within the realms of the laws of Australia." One of the authors of the report, John Glover, a professor of law at RMIT, said Australia was behind other countries when it came to the regulation of trusts. "The largest part of the tax office's information about trusts comes through the voluntary lodgement of trust tax returns and that's an inadequate way to proceed," Glover said. Mousa retorted, "The suggestion that hundreds of thousands of Australians are 'doing the wrong thing' is fear mongering to the general population and is just plain wrong." "For instance, the advice TLK Partners provides to its clients is legal, using the laws of Australia to protect its clients' assets and to maximise their wealth. The laws surrounding trusts have been around since the 1920s and if this were such an issue the government would have changed the laws already," Mousa explained. RELATED ARTICLE: Depreciating Assets Property Tax Aged Care Advisors Kingsgrove NSW The report, "Current issues with trusts and the tax system", said some wealthy Australians and high net wealth individuals were putting money into discretionary trusts to manipulate the tax system so they could pay less tax. "It's absurd," Mousa exclaimed, "the suggestion that wealthy Australians are manipulating the system when 'playing by the rules' is ludicrous. I read these reports and think I'm taking crazy pills," Mousa said. There seem to be many misconceptions with respect to trusts and taxation. Income from trusts is often taxed at the corporate tax rate of 30 per cent, compared to the highest marginal income tax rate of 45 per cent and sometrusts could also be taxed at lower rates of 15 per cent for superannuation trusts. The report said "income tax shuffles" were used to understate earnings by exploiting differences in the definition of income under tax law and trusts law. This can occur when a trustee uses deductions from the trust's taxable (net) income to lower the distributable income paid to the beneficiaries. Income splitting is another tactic used to reduce tax when the trustee makes payments to the beneficiaries with the lowest earnings. "All perfectly legal," Mousa exclaims, "these 'tactics' are available to every Australian today, they have been for almost 100 years," Mousa said. "A conservative estimate indicates that $672 million to $1.2 billion of tax revenue could be sheltered annually," the report found. In five ATO investigations reviewed by the academics, it was estimated $195 million in tax was avoided on an income of $729 million. The ATO thanked RMIT for its report but said it did not agree with all the findings or methodologies adopted. "Reports like these can be dangerous, especially when they gain traction in the media," Mousa said. "The aim of TLK Partners has always been to maximise the wealth of every Australian using every legal means available to them, one of many strategies we may adopt could involve the use of private trusts, depending on the client's individual requirements," Mousa concluded. TLK Partners Wealth Management Companies Kingsgrove, Beverly Hills | Tax Accountant & Agent | Property Advisers are financial management, retirement planning and wealth advisers serving enterprises and private individuals who hope to take care of their future through sound financial management. Visit their website or contact them at (02) 8090 4324 for an appointment to discuss your financial management and investment needs. This material is of a general nature only, and it does not take into consideration your financial circumstances, needs or objectives. Before making any decision based on this content, you should assess your own circumstances, seek professional advice or contact our office to be directed to the appropriate professional. Whilst all care has been taken in presenting the material neither TLK Partners or its associated entities guarantee that the material is free of error and, the information may have changed since being published. Syndicated by Baxton Media, the Market Influencers. Financial Expert Thomas Mousa Says Tax Ruling Clarifies Carrying On A Business 2019-06-08T22:00:27Z financial-expert-thomas-mousa-says-tax-ruling-clarifies-carrying-on-a-business What ‘Carrying On A Business’ Really Means The ATO has clarified the definition of determining whether a company carries on a business for the 2015-16 and 2016-17 income years with the release of a new tax ruling. Recently, the Australian Tax Office released Tax Ruling 2019/1, replacing the previous draft, setting out what it means when a company carries on a business for accessing the lower corporate tax rate of 27.5 per cent in the 2015-16 and 2016-17 income years, and for determining the franking percentage to be applied to dividends paid to shareholders. Leading Australian financial expert Thomas Mousa, director and partner of Sydney-based TLK Partners, explains what this means for business. The ruling comes after Treasury Laws Amendment (Enterprise Tax Plan Base Rate Entities) Bill 2017 was passed, changing the meaning of the term ‘Base rate entity’ which a company needs to be from 1 July 2017 to get the lower corporate tax rate of 27.5 per cent. Mousa says, “You have to consider what the key elements are when determining what amounts to carrying on a business, which includes: whether the person intends to carry on a business; the nature of the activities, particularly whether they have a profit-making purpose; whether the activities are repeated and regular, organised in a business-like manner, including the keeping of books, records and the use of a system; the size and scale of a company’s activities including the amount of capital employed in them, and whether the activity is better described as a hobby or recreation.” Mousa says “the ruling was not intended to be a statement of the Australia Tax Office’s views on carrying on business more broadly throughout the tax system, but confined to the specific matters set out in the ruling and the associated examples. It’s clear that Accountants and Tax Practitioners should be aware that it is entirely possible that a company could have become entitled to use the lower tax rate in the 2016 or 2017 years because it was carrying on a business and below the relevant turnover threshold, but on applying the Base Rate Entity rules for the 2018 or later years it may be decided that the 30 per cent tax rate should now be applied going forward. Mousa agrees, “This may require careful examination not only of the tax rate that has been applied to its taxable income in each of the years, but also the franking rates that have been applied to dividends paid during those years. While some of the wording in the ruling has been tidied up from the draft, the substance of the ATO’s views is largely unchanged, and there are just a couple of areas where the extent of application of the concept of ‘carrying on a business’ has been clarified,” Mousa said. On the same day, the Australian Tax Office released draft determination TD 2019/D4 ruling that a company whose only activity is renting out an investment property cannot claim the capital gains tax (CGT) small business concessions. RELATED ARTICLE: CGT TAX Accountants Sydney NSW Are Investor and Property Acquisition Investment Specialists “The ATO Tax Ruling 2019/D4 makes it clear that a property investment company would not be eligible to apply the small business capital gains tax concessions as it is carrying on a business in a ‘general sense’, because the main use of the property asset would be to derive rental income, specifically excluding it from qualifying as an ‘active asset’ as stated in the ruling,” Mousa said. Mousa Says, “Business and investor clients must be kept abreast of the latest Tax Rulings instigated by the ATO to ensure compliance and to maximise profitability.” “TLK Partners are experts at that,” Mousa concludes. TLK Partners Wealth Management Companies Kingsgrove, Beverly Hills | Tax Accountant & Agent | Property Advisers are financial management, retirement planning and wealth advisers serving enterprises and private individuals who hope to take care of their future through sound financial management. Visit their website or contact them at (02) 8090 4324 for an appointment to discuss your financial management and investment needs. This material is of a general nature only, and it does not take into consideration your financial circumstances, needs or objectives. Before making any decision based on this content, you should assess your own circumstances, seek professional advice or contact our office to be directed to the appropriate professional. Whilst all care has been taken in presenting the material neither TLK Partners or its associated entities guarantee that the material is free of error and, the information may have changed since being published. Syndicated by Baxton Media, the Market Influencers. Financial Expert Thomas Mousa Says Crypto Currency On The ATOs Radar This Tax Time 2019-06-07T22:00:23Z financial-expert-thomas-mousa-says-crypto-currency-on-the-atos-radar-this-tax-time ATO To Focus On Crypto Transactions During ‘Tax Time’ Taxpayers who have bought, sold or transferred cryptocurrency will be subject to greater ATO scrutiny ahead of tax time this year say leading Australian financial expert. The ATO can identify individuals or businesses who have or may be engaged in buying, selling or transferring cryptocurrency during the 2014–15 to 2019–20 financial years using a new reporting technology. A data-matching program will give the ATO visibility over whether up to 1 million taxpayers are correctly meeting their taxation and superannuation obligations in relation to cryptocurrency transactions and ownership. Financial expert, Thomas Mousa, partner and director of TLK Partners in Sydney says “the ATO will give taxpayers 28 days to clarify any information that has been obtained from data providers connected to the new reporting system before any compliance action is taken.” ATO deputy commissioner Will Day said, “We want to help taxpayers to get it right and ensure they are paying the correct amount of tax.” “Where people find that they have made an error or omission in their tax return, they should contact the ATO as soon as possible. Penalties may be significantly reduced in circumstances where we are contacted prior to an audit.” The ATO has adjusted its systems in recent years to deal correctly with the burgeoning Cryptocurrencies, and the latest tool in their arsenal is a data-matching program marking a renewed effort from the agency to stamp out non-compliance ahead of tax time 2019. Mousa says, “It is understood the ATO will be working with other regulators, in particular, the Australian Transaction Reports and Analysis Centre (AUSTRAC) and ASIC, as well as other international regulators as part of the Joint Chiefs of Global Tax Enforcement (J5), to investigate cryptocurrency-related tax evasion and money laundering.” RELATED ARTICLE: Trading Cryptocurrency are Not Viable Investments Says Kingsgrove Financial Wealth Advisor of TLK Partners in Sydney “The ATO will be targeting up to 1 million taxpayers participating in Cryptocurrency, and in a country with a population of 25 million, it is quite astounding the number of cryptocurrency users has grown to already,” Mousa said. “Clients must be made aware of the ATO’s no-nonsense stance on this matter,” Mousa explained, “it is vital that advisers raise the message with their clients early on, ahead of any action from the Tax Office.” Part of the issue for clients is what is called a “supernova moment”. A great example of this is the rise of bitcoin in 2017. Conversely, Bitcoins demise from almost $30,000 to about $7,000. During these periods of the dramatic rise and falls, some taxpayers may have undeclared gains from say 2015 - 2017 and other with substantial losses. The big issue that vests with taxpayers that may have realised gains in which they have a tax obligation that they haven’t declared for some reason or another and they won’t have any money to pay the bill because they’ve got losses after the event in a different financial year. “If they left it in or traded one crypto for another crypto unless they actually cashed out and banked the money, they might have ridden the market down and may have trouble paying any tax bill,” Mousa explained. “Cryptocurrency advice is available to all clients of TLK Partners, and it is fundamentally important that advice is sought before this tax time to avoid heavy penalties,” Mousa concluded. TLK Partners Wealth Management Companies Kingsgrove, Beverly Hills | Tax Accountant & Agent | Property Advisers are financial management, retirement planning and wealth advisers serving enterprises and private individuals who hope to take care of their future through sound financial management. Visit their website or contact them at (02) 8090 4324 for an appointment to discuss your financial management and investment needs. This material is of a general nature only, it does not take into consideration your financial circumstances, needs or objectives. Before making any decision based on this content, you should assess your own circumstances, seek professional advice or contact our office to be directed to the appropriate professional. Whilst all care has been taken in presenting the material neither TLK Partners or its associated entities guarantee that the material is free of error and, the information may have changed since being published. Syndicated by Baxton Media, the Market Influencers.