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SMSs for SMSFs (now say that three times!)

28 November 2019

To protect your retirement savings from fraud and misconduct, the ATO will now send you an email and/or a text message when changes are made to your self-managed super fund (SMSF) records. They will start sending these from 30 November 2019.
From time to time our superannuation division update these records on your behalf.  We may update these records if:

  • You change your address
  • Your SMSF’s banking details change
  • There is a change in membership of your SMSF
  • You change the trustee of your SMSF

We also review these details each year as part of the annual compliance work to ensure the records are up to date and complete.

If you do receive an email or text message from the ATO regarding changes made to your SMSF’s records that you have not made please contact us. We can confirm if the changes were made by us and if required contact the ATO to report suspicious changes.
 

Remember: legitimate emails and text messages from the ATO never ask you to reply by text or email or to provide personal information. View the ATO’s  current SMS and email activities if you're unsure about the authenticity of any ATO correspondence.

Meet the team - Mitch Webb from Goulburn

17 November 2019

Meet Mitch Webb, an Accountant in our Goulburn office. 

1.      What sparked your interest in a career with Boyce?

Word-of-mouth around Goulburn has always been very positive about Boyce. I was near the completion of a Bachelor of Accounting at The University of Canberra when I heard about the possibility of a role at Boyce Goulburn. I had six interviews in total as the team was trying to determine the best-fit role for me. I ended up completing my degree on a Friday and starting at Boyce as a Graduate Accountant on the Monday!

2.      What do you love about your job?

I am just about to celebrate my first anniversary with Boyce, having started in November 2018. I am really enjoying the social aspect of the firm, it’s a great team environment. I also find the puzzle of tax planning challenging and rewarding. Some of our clients are primary producers and the current drought is having implications on their business. It’s feels good to be able to assist them with their tax and take away that stress for them.

3.      What do you love about living and working in Goulburn?

I’m originally from Sydney, but I have been living in Goulburn for a few years now. I was travelling to Canberra for Uni several days a week while I was studying. I like the fact that Goulburn is a country town with lots of friendly people, but it’s also close to major cities like Sydney and Canberra. I often head to Canberra on the weekend to catch-up with Uni friends and it only takes me an hour to get there.

4.      What do you enjoy doing in your spare time outside of work hours?

I love going to the gym and I compete in bodybuilding competitions. In 2018 I won the Australian Novice Bodybuilding Championship. I am currently starting to prepare for my next competition in 2020. I feel like a have a really positive work/life balance. I love my job and my sessions in the gym, so things have really fallen into place for me. 

To find out more about career opportunities with Boyce, click here.

Tony Quirk Award Finalists 2019

12 November 2019

The Tony Quirk Award Finalists have been announced and we are excited to shine a spotlight on the Boyce team members from our five regional offices who are in the running to win the highly coveted, annual TQ Award.

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Loans currently available for agriculture & rural small business

8 November 2019

On 7 November 2019, the Government  announced an overhaul to the Regional Investment Corporation (RIC) funding rules which would see a couple of key changes.

Previously, the RIC was making available loans of up to $2 million with low interest rates (3.11%).

The main changes are as follows:

   1. Changes to the repayment options which have been announced are:

  • The first two years, interest and repayment free
  • The following three years, interest only
  • The following five years, interest and principal

   2. Small Business Drought loans of up to $500,000 will be available for small businesses that directly provide primary production related goods and services to farm businesses in ‘the most drought affected communities. There is currently no guidance on how this will be determined.

At this stage this is an annoucement from the Government, and more specific requirements will follow. It also remains to be seen how they are going to determine which areas are eligible for the Small Business Drought loan. 

Furthermore, there is currently no guidance on what will happen with interest charges on RIC loans already approved and those currently in the application stage.

Boyce will continue to send updates as new information becomes available.

Please click here to read the latest press release regarding these changes or visit www.ric.gov.au.

Should you wish to register your interest or find out more information, please email info@ric.gov.au, call 1800 875 675 or contact your local Boyce accountant.

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