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What contributions can you make to super?

What contributions can you make to super?

5 December 2013

In the years since the introduction of contribution caps (generally from 1 July 2007), the maximum amount you may contribute to your superannuation has changed quite a few times. As the 2013/14 financial year sees us in the midst of another period of change, it is timely to consider what level of contributions you can make to superannuation now and in coming years, and at what rate those contributions will be taxed. Also, as mistakes can and will occur, we will consider whether remedies are available if the maximum limits are exceeded.

In general the two types of contributions are:

  • Concessional contributions, and
  • Non-concessional contributions.

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New Government | Tax and Super Update

New Government | Tax and Super Update

19 November 2013

The newly elected Abbott Coalition Government has moved quickly to honour key election promises by proposing a range of legislative changes and taxation measures to Parliament which the Treasurer Joe Hockey says will provide certainty to business and significantly reduce red tape and associated costs.

In honouring two key election commitments, the Coalition has:

  • Introduced a package of carbon tax repeal bills and announced new powers for the Australian Competition and Consumer Commission (ACCC) to monitor prices and take action against businesses that attempt to exploit other businesses and consumers by charging unreasonably high prices or making false or misleading claims about the effect of the carbon tax repeal on prices.
  • Introduced a bill to repeal the Mineral Resources Rent Tax (MRRT) and many of the associated tax concessions which were to be funded from the amounts raised by the MRRT.

The Treasurer also announced the Government’s plans in relation to a backlog of 96 tax and superannuation announcements from the previous Labor government which remain unresolved and unlegislated.

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BFS nominated in prestigious award

BFS nominated in prestigious award

23 October 2013

The Boyce Financial Services (BFS) team was honoured to be nominated as one of five finalists in the prestigious “Lonsdale Associate of the Year” award at the 2013 Lonsdale & IOOF Alliances National Conference held in Perth.

BFS won the “Lonsdale Associate of the Year” award in 2011 and has previously been nominated as a finalist twice before in 2010 and 2012. 

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Boyce celebrates 40 years in business

Boyce celebrates 40 years in business

23 October 2013

Simply bursting with pride is how Michael Boyce feels on the 40th anniversary of Boyce Chartered Accountants.

Michael Boyce was a founding partner of the small accounting practice that opened its doors on 2 October 1973 in the central business district of Sydney, where the first clients were mostly young farmers looking for a fresh approach to financial management.

Within a period of nine months, the first rural branch of the firm was established in the Monaro region of New South Wales, and there began the proud history of rural practice that defines Boyce to this day.

(Michael Boyce is pictured centre right with wife Robyn, and Boyce MD Bernard Kennedy at the 40th anniversary celebrations held in Sydney)

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Dubbo business winners announced

Dubbo business winners announced

23 October 2013

The Directors of Boyce Dubbo are thrilled that two of our clients have taken out major awards at the annual Rhino Business Awards presented by the Dubbo Chamber of Commerce and Industry.

The Earlyrise Baking Co., a long-time Boyce Dubbo client, won the coveted Gold Rhino award as Dubbo's best business. The Stevenson family accepted the award in front of a large number of the local business community at the gala awards evening.

As well as the Gold Rhino, the Earlyrise Baking Co. won the 'Excellence in Products and Services' (>10 employees) award category. Well done to this hard-working and creative business team.

The Fast Lane, an innovative drive-through coffee business, took out the 'Excellence in Products and Services' (<10 employees) award and the highly contested 'People's Choice Award' - a great result for this relatively young business.

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