2012 june year end tax

ABN: 24 068 930 021

PO BOX 6034 NARRAWEENA NSW 2099

Telephone: (02) 9401 7040 Fax: (02) 9971 7433

Email: [email protected]

Member of the Institute of Public Accountants Liability limited by a scheme approved under Professional Standards Legislation

In the Loop with Tax 2012 NEWSLETTER OF LOOPHOLE ENTERPRISES PTY LTD 30 June 2012.

With 30 June fast approaching it is time to consider the opportunities available to manage your business and

taxation affairs. General tax planning ideas should be considered prior to year end. The list is not exhaustive.

There is a lot of information in this newsletter but read what is only relevant to you.

KEY CHANGES

- Flood Levy ceases 30 June 2012

- Resident tax rates – expected to be less than $80,000, consider deferring some income from YE12 to

take advantage of higher tax free threshold from 1st July 2012.

- As tax rates for non-resident individuals will increase from 1st July, consider bringing forward income

into YE12.

- Medical expenses will be means tested from 1 July 2012 with an adjusted taxable income above $84k

for singles and $168k for couples/families. Consider incurring expenses before 30 June.

- Private health insurance rebate will be reduced or eliminated for higher income earners from 1 July

2012. Reductions will apply to premiums paid after 1 July 2012. Consider prepaying private health

insurance before 30 June to get private health insurance rebare.

- Employment Termination payment offset – employees about to cease employment and who have a total

annual taxable income of over $180k may want to consider ceasing employment before 1 July 12. The

government will limit the ability of high income earners to use Employment Termination Payment offset

on payments such as golden handshakes from1/7.

- Super – if you will be over 50 yrs of age as at 30 June 12, you may want to consider a concessional

super contribution of up to $50k before 1/7/12. The $50k concessional cap will not apply for 2012/13 or

2013/14 yrs. The government at this stage has deferred it for another 2 years.

- SUPER – from 1 July 2012 the government will increase the super contributions tax from 15% to 30%

for contributions for individuals with income greater than $300,000.

- Super Guarantee and contractors – employers need to ensure they make super contributions for all

eligible employees including contractors.

- The 50% capital gains tax discount for non-residents will be removed on capital gains accrued after 8

May 2012. Non-residents may need to get a market valuation of assets as at 8 May 2012 to protect the

50% discount on pre 8 May 12 accrued values.

- Building & construction reporting – from 1 July 12, businesses engaged in this industry will be required

to record their payments to contractors and then report these payments to the ATO.

- Companies Directors Penalties - directors need to pay more attention to company PAGY and Super

guarantee charge liabilities as the government is in the process of introducing stricter penalties for

directors of companies that fail to make these payments. When making part payments to the ato, make

sure you highlight to the ato that it is a Payg payment. Once paid off, pay off the balance of GST

remaining.

ABN: 24 068 930 021


Telephone: (02) 9401 7040 Fax: (02) 9971 7433



- COMPANY LOSSES – From 1 July 12, companies will be entitled to carry back up to $1 million of

losses to the previous tax year [year ended 30 June 2012] but limited to company’s franking account.

- Bad debt reduction – from 8 may 12, bad debt deductions will no longer be available where the debtor

and creditor are related parties.

- Loans from private companies – DIV7a – Shareholders of a private company and the shareholders’

associates may be assessed with a deemed dividend if the company provides them with loans, payments,

debt forgiveness or use of company assets, unless all the requirements of Div7A are complied with.

- TRUSTS Distributions and resolutions – This year the ATO is looking to ensure the trustee income

distribution determinations and resolutions are correctly made and required by the required times.

Generally, this must be done by 30 June. It is essential that trustees make these determinations prior to

30 June regardless whether the trust will make a profit or not. The ATO will be reviewing a number of

trusts and request evidence that this determination has been made. I suggest a written evidence of 2011-

12 trustees determination of income of the trust be prepared by 30 June 2012. If unsure please call me to

discuss.

- Trust streaming – Under new trust streaming provisions , trustees are permitted to stream franked

dividends and capital gains to beneficiaries who are specifically entitled to the franked dividends or

capital gains, provided the trust deed permits this and the specific entitlement is recorded in the trust

accounts or records. Franked dividends must be recorded by 30 June, and capital gains by 31 aug. If the

capital is included in the income of the trust, it has to be determined by 30 June 2012.

- TFN Trust reporting – trustees of resident family trusts, discretionary trusts and other closely held trusts

are required to report the trust beneficiaries’ tax file number to the ATO by the end of the month after

the end of the quarter in which the trustee received the TFN. Therefore only report beneficiaries that

have not previously been reported. If the beneficiary does not provide their TFN to the trustee, the

trustee will have to withhold tax from distribution at 46.5%. Minors are exempt from TFN if income is

less than 416..

- SMALL BUSINESS ASSET WRITE-OFFS

Consider deferring purchases until after 1st July 2012 as from this date, small businesses will receive an

immediate write-off of capital asset purchases with a value of $6,500 or less. Motor vehicles purchased

by small businesses after 1st July 2012 valued at more than $6500 will be entitled to an immediate

depreciation write-off of $5000 and the balance of the value of the car will be depreciated as part of the

small business depreciation pool.

Current tax thresholds 30 June 2012 New tax thresholds from 1 July 2012

Income range ($) Tax rate (%) Income range ($)

0 – 6,000 Nil 0 – 18,200

6,001 – 37,000 19 18,201 – 37,000

37,001 – 80,000 32.5 37,001 – 80,000

80,001 – 180,000 37 80,001 – 180,000

180,001+ 45 180,001+

ABN: 24 068 930 021


Telephone: (02) 9401 7040 Fax: (02) 9971 7433



Super government co-

Contributions

Year of entitlement Maximum entitlement Matching rate Lower

threshold

Higher

threshold

2011-2012 $1,000 100% $31,920 $61,920

2012-2013 $500 50% $31,920 $46,920

Private Health Insurance Incentive Tiers from 1 July 2012

Tier Income ($) Private health insurance rebate Medicare levy

surcharge Singles Families Under 65 yrs

old

65 – 69 years

old

70 years or

over

0 – 84,000 0 – 168,000 30% 35% 40% Nil

1 84,001 –

97,000

168,001 –

194,000

20% 25% 30% 1%

2 97,001 –

130,000

194,001 –

260,000

10% 15% 20% 1.25%

3 130,001 + 260,001 + 0% 0% 0% 1.5%

The concessional contributions cap for people aged 50 and over on 30 June 2012 will halve from $50,000 to $25,000 from 1 July 2012 to 30 June

2014.

Contributions Type Under 50 Over 50 to age 64 EXCESS TAX

31.5% in addition to the

15% paid by the fund

Can be paid by the fund

Concessional $25,000 $25,000

Non Concessional $150,000* $150,000 31.5% in addition to the

15% paid * People under age 65 at any time in the financial year may effectively bring forward two years’ worth of non-

concessional contributions, allowing them to contribute $450,000 at any time over a three-year period without

exceeding the cap. If a person has invoked the two-year bring forward rule in a particular financial year their non-

concessional cap will remain at three times the non-concessional cap in the first year.

Financial years

Low income offset 2011-12 2012-13 2015-16

LITO amount $1,500 $445 $300

Taxable income the

LITO begins to be

reduced at

$30,000 $37,000 $37,000

ABN: 24 068 930 021


Telephone: (02) 9401 7040 Fax: (02) 9971 7433



PLANNING CONSIDERATIONS

INDIVIDUALS

DEDUCTIBLE PERSONAL SUPER CONTRIBUTIONS [Self-employed] – Personal contributions

by individuals to super funds are non-deductible if more than 10% of their income is from

employment. That includes reportable super, [Fringe Benefit Tax] FBT and Leave entitlements.

Individuals must notify the fund they intend to deduct their personal super contributions. Notice of

intent to claim must be completed. Before lodgment of return, an acknowledgment advice must have

been received by the fund. This is an ATO requirement.

SUPER CONCESSIONAL CAPS – From 1/7/2012, the annual concessional contributions cap is

$25,000 is for all including those aged over 50. Take care not to exceed the super contribution caps.

Exceeding the caps may result in additional tax of 31.5%. Exceeding the non-concessional cap may

result in tax of 46.5%.

CO-CONTRIBUTION REDUCTION – Personal contributions of up to $1000 for people earning

less than $61920. To be eligible you must be employed or self-employed This government will

reduce this to $500 from 1st July 2012.

Consider commencing a Transition to Retirement Income Stream [TRIS]. Eligible individuals over

the age of 55 who intend to continue working should consider commencing a TRIS.

For persons aged 65 to 74 it is necessary to pass a ‘gainful employment test’ in order for their fund

to be able to accept contributions. The test requires the person to be gainfully employed for a period

of at least 40 hours in any 30 day consecutive period.

EDUCATION TAX REFUND – to be eligible must have lodged a claim for Family Tax benefit Part

A for a child and have had that application approved. Check with Centrelink if uncertain. YE11 was

the last year for retention of receipts and claim via the tax return.

Foreign source income and capital gains – ATO has double tax agreements with overseas countries.

Be aware that if you are receiving foreign income or have disposed of assets, please remember to

include this information when lodging returns.

Spouse contributions – a taxoffset of up to $540 is available where a spouse contribution of up to

$3000 is made. In order to receive the full offset, a $3000 non-concessional contribution is made on

behalf o the spouse. The spouse’s taxable income must be less than $10,800. No offset is available

when the spouse’s taxable income is over $13.800. The $3,000 counts towards the non-concessional

limit of the receiving spouse.

Depreciation – immediate deduction for items valued less than $300 [for non-business taxpayers]

including: income producing assets used for non-business eg. Tools of trade or briefcase, or small

items of furniture in a rental property; not part of set of assets costing more than $300; and not

identical to other assets which in total cost more than $300.

Franking credits – if shares are not held at risk for at least 45 days, the franking offset may not be

available [except for individuals whose franking offset is less than $5000]. Beneficiaries of a trust

and partner of a partnership have to satisfy the two rules.

Dependent spouse rebate will be phased out for spouses under the age of 40 from 1st July 2011. Mature age workers tax offset to phase out from 1/7/12. It will be limited to taxpayers born before 1/7/57. Taxpayers must have turned 55 prior to 1 July 2012 to receive the offset.

DEFER INCOME until after 1st July 2012.

ABN: 24 068 930 021


Telephone: (02) 9401 7040 Fax: (02) 9971 7433



MEDICAL EXPENSES –include dependants up to the age of 21. Medical expenses include dental, optical, a

carer who looks after a person who is blind, therapeutic treatment, medical aids, artificial limbs or eyes,

maintaining a properly trained dog for guiding people with a disability, laser eye surgery and IVF. Medical

expenses must be performed by a qualified medical practitioner. It does not include cosmetic operations, dental

that relate to cosmetic e.g. teeth whitening, chemist type items e.g. panadol and cough medicine, Inoculations

for overseas travel, life insurance medical examinations, ambulance charges or funeral expenses. For the 2012

year the medical expenses rebate threshold is $2060.

From 1 July 12, the threshold will increase by an index factor for taxpayers under the adjusted taxable income

means test amounts [$84k individuals and $168k for couples/families]. Those over the adjusted taxable income

means test, the net medical expenses threshold will increase to $5000. The percentage of offset will decrease

from 20% to 10%.

Private Health Insurance rebate – if you know you will be over the above thresholds [$84k single $168k

couple/family] then you want to prepay your premiums. Talk to your health insurance provider to discuss what

you need to do.

BUSINESSES

Non-commercial Business Losses – from 1st July 2009, business losses by individuals are

quarantined where the individual’s adjusted taxable income is $250,000 or more, unless a

determination is received from the ATO. Salary package expenses can reduce the taxable income but

the ATO is currently considering this practice. Does your business meet one of the Business tests?

Tests include a. Assessable income of $20k or more; b. profit from the business in 3 out of 5

previous years; c. real property of $500k or more, or other assets of $100k used in business; d. the

commissioner exercises his discretion. For individuals with an adjusted taxable income in escess of

$250k, they will have losses quarantined.

SUPER GUARANTEE & CONTRACTORS – Under the SGC rules, employers are required to

make contributions for eligible employees. Employees include independent contractors who are

engaged under a contract primarily for the provision of labour. You can go to the ATO website and

use the tool to assist in determining whether the individual is a contractor or employee.

www.ato.gov.au. These contractors if caught under SGC are also caught under workers

compensation.

SUPER GUARANTEE & ordinary hours – Super contributions are generally based on an

employee’s ordinary hours of work. Ordinary hours of work generally refer to standard hours of

work and do not apply to overtime payments. The OTE list can be downloaded from the ATO

website.

COMPANY LOSS TESTS - must satisfy two tests – the continuity of ownership test and the same

business test.

YEAR END ISSUES

A small business entity is one that has an annual turnover of less than $2 million; must have actively

traded as a business. Benefits include small business CGT concessions, simplified depreciation and

trading stock rules.

TIMING OF INCOME – Determine whether the business is on cash or accruals tax accounting

basis. Consider deferring income receipt until after 30th June 2012. If the business has trading losses

current and prior years, consider accelerating the receipt of income prior to 30th June to recoup

losses.

http://www.ato.gov.au/

ABN: 24 068 930 021


Telephone: (02) 9401 7040 Fax: (02) 9971 7433



INCOME RECEIVED IN ADVANCE – Income received in advance is not taxed until the services

are provided. The income can be credited to the balance sheet.

TIMING OF EXPENSES – Expenses are deductible if incurred by 30th June 2012. Provisions are

not deductible. Some accruals are not deductible. Prepayments can be deductible if they meet the

rules. Generally if an expense eg subscription is for less than 12 months it can be deductible. If its

for e.g. 18 months then the expense is pro-rated over the two years. If in a profit situation, pay

creditors before 30th June.

REPAIRS – Deduct expenses for repairs and maintenance incurred before 30th June 2012. If they

are capital in nature, substantial replacement or improving an existing asset must be depreciated.

GIFTS – Donate to charities before 30th June. Check the recipient is endorsed by the ATO. Gifts are

not deductible if some benefit is received e.g. fund raising event.

BAD DEBTS – Review all debts before 30th June. If in accruals accounting, write-off bad debts

before 30th June. If on cash basis, they are an add back adjustment.

TRADING STOCK – Valuation – choose cost, market value or replacement. Identify any obsolete

stock. Scrap any unwanted stock. A small business entity can choose not to undertake a stock

valuation IF the difference between opening and closing value is less than $5000.

PREPAYMENTS – Prepay deductible expenses before 30th June. The prepayment rules can operate

to spread the deduction over more than one year. The prepayment rules do not apply to salary,

amounts to be paid by law, or expenditure under $1000. Small Business Entity and non-business

individuals are allowed to prepay expenses if they do not extend beyond 12 months.

DIRECTORS FEES – conduct shareholdings meeting before 30th June 2012 to approve directors

fees to get deductions for 2021 year. Make sure they are paid and PAYG withholding tax is deducted

accordingly.

SALE OF INVESTMENTS – Where CGT assets will be realised for a gain, delay sale until after

30th June. Crystallise capital losses if to offset against capital gains. If assets have been held for

more than 12 months, consider delay of sale until 12 months to take advantage of the CGT discount

concessions.

SMALL BUSINESS ENTITIES - Consider small business concessions available so long as assets

are less than $6 million or annual turnover is less than $2 million. Rollover provisions, retirement

exemptions, active asset provisions may reduce CGT liability.

CEASING BUSINESS or BUSINESS SOLD – Consider the payments of employee entitlements, the

transfer of employee entitlements to a new employer and redundancy payments. There are CGT

business concessions as well as super contributions available. Consider whether expenses incurred

after the business ceases may still be deductible.

DEPRECIATION – scrap obsolete items by 30th June 2011. Replacement of some items of less than

$100 ($300 if not in business) may be immediately deductible. Small business concessions –

immediate deduction for items costing less than $1000 if assets are pooled[from 1st July 2012 to

increase to $6,500] – automatic pooling at the rate of 30% [5% if life is more than 25 years].

IMPUTATION – if shares are not held at risk for at least 45 full days the franking offset may not be

available [except for individuals whose franking offset is less than $5000). For discretionary trusts

receiving dividends, the franking offset will be lost unless a family trust election is made. If the trust

is in a loss, those franking credits will also be lost.

ABN: 24 068 930 021


Telephone: (02) 9401 7040 Fax: (02) 9971 7433



YEAR END TAX EFFECTIVE INVESTMENTS – Ensure the promoter has obtained a product

ruling. Ensure the scheme is in accordance with product ruling. Check if the investment is subject to

a Taxpayer alert. Remember if a scheme is too good to be true, it usually is!

HOME OFFICE CLAIM – Home office expenses may be deductible where you carry on business or

employment activities at home. Portion of interest, rent and insurance are not deductible unless you

are carrying on a business from home and the area is separate and distinguished from private living

areas. Converting the spare room is not sufficient. Important note that when claiming interest

expenses etc, that your house will be subject to CGT on the portion allocated to home office

claimed. Power, heating and depreciation can be claimed at a flat rate established by the ATO even

if the room is not exclusively set aside for a home office [34c per hour] but keep a 4 week log book.

Otherwise prepare a floor plan and only claim the percentage in relation to utilities. Note if an office

is provided by the employer, working from home simply as a convenient place to do part of the work

will not be sufficient to claim home office expenses.

PAYMENT SUMMARIES – Employers are required to report on PAYG payment summaries and

reportable super contributions. Do not report the 9% super guarantee. Only the excess over and

above the 9% SGC.

CAR EXPENSES – check log books that they are current and details are correct. A signed log book

is required. If change of business activity of more than 10% would require a new log book. A new

job where a car allowance is paid, a new log book is required. Ensure year end odometer readings

are taken.

FBT - MAKE SURE ALL FBT UPDATES FOR COMPANIES HAVE BEEN COMPLETED AS

AT 31st MARCH, SIGNED AND RETURNED TO ME.

PSI – personal services entity will receive income for the reward of personal services, efforts or

skills e.g. Consultant. The Personal Services Income [PSI] rules may limit the deductions. The PSI

rules do not a apply to a Personal services business if it passes the results test. Where more than 80%

of PSI is derived from a single client and you do not pass the results test, you will be caught under

the PSI rules unless you apply to ATO.

DEBT/EQUITY RULES – review all shares, loans and other instruments issued to raise finance

whether they are debt or equity. Consider whether payments made on instruments are to be treated as

deductible debt [interest] or non-deductible equity [capital].

ENTERTAINMENT – generally xmas parties are non-deductible and GST cannot be claimed. If

your company is not registered for FBT, then entertainment costs cannot be claimed. Entertainment

includes, alcohol, lunches, social functions. These will be treated as non-deductible. Client gifts such

as a bottle of wine will be allowable [within reason]. Small minor benefits of $300 paid to staff will

be non-deductible, FBT and GST exempt. Please refer to xmas newsletter for further detail.If

employee has a meal whilst traveling on a business trip its deductible and no FBT. Employer

provides sandwiches and is for working lunch in office (not entertainment) tax deductible and no

FBT. Social functions non-deductible and no FBT. If you wish to claim client lunches, then client

portion $100 non-deductible and No FBT, employee portion $50 tax deductible and subject to Fringe

Benefits Tax.

EXEMPT FROM FBT – minor benefits <300, laptops, computer software, protective clothing,

briefcase and tools of trade.

SUPER – consider all super and any additional amounts [e.g. Super salary sacrifice amounts prior to

30th June, 2012 in order to claim deductions. Contributions are paid when received by the super

fund [if a cheque] or credited to its bank account [if transferred electronically]. A mere book entry

ABN: 24 068 930 021


Telephone: (02) 9401 7040 Fax: (02) 9971 7433



alone does not satisfy this requirement. Be aware of the caps for the year for those under and over 50

as at 30th June.

MODERN AWARD RATES are to change again 1st July 2012. Please review your award rates if

modern award applies.

PAID PARENTAL LEAVE [PPL] is to be reported as taxable income for the purpose of disclosure.

For more information please go to ATO website for Employer obligations and requirements for

application. Parental Leave pay started on 1 July 2011. Employers will be responsible for providing

Parental leave Pay to their eligible long-term employees. Employers will need to withhold the usual

PAYG tax; will NOT have to make super contributions on Parental Leave Pay so it will need to be

quarantined from other amounts that attract SGC; do not have to pay payroll tax on PLP; will not

incur increased workers compensation premiums due to PLP. Any costs incurred in administering

are tax deductible. For more info phone 131158 for employer toolkit or 136150.

DIRECTORS PENALTIES FOR UNPAID SUPER – From 1 July 2011, directors penalties will

extend to super guarantee amounts unpaid. The directors will be made personally liable for their

company’s failure to pay its SG obligations. There is a duty on the director to ensure that the

company meets its obligations to remit amounts; goes into voluntary administration; or begins to be

wound up.

REPORTABLE SUPER ON PAYMENT SUMMARIES – only include super that has been paid on

behalf of employee under a salary sacrifice arrangement. 9% SGC should not be included.

CHOICE OF SUPER – employees have a right to choose their super if they are employed under a

federal award, under a former state award or under another award or agreement. Employer must

provide a Standard choice form [NAT 13080] within 28 days of the day they start work.

SUPER – if you are over 55 y/o, consider salary sacrifice and use a transition to retirement pension

while still working; SGC 9% are required to be made quarterly; ensure minimum pension payment

have been made for those in pension phase; make sure you take into account contributions already

made and ensure contributions do not exceed limits; review salary sacrifice arrangements.

Losses – check companies and trusts seeking to claim a deduction for current year or prior year

losses satisfy the rules 30 June.

CGT small business concessions – 15 yr exemption, active asset reduction, retirement exemption

and small business rollover. To qualify for basic concession, taxpayer must be a small business

entity and the assets satisfy the active assets test. For the 15yr exemption, taxpayer must be retiring

and assets must have been held for 15 years; retirement exemption must be retireing and if taxpayer

is less than 55, contribute proceeds to a superfund; trust/company special rules determine if the

entity can access concessions.

FBT STATUTORY RATES for car benefits – the statutory fractions that currently apply will be

phased out and replaced with a 20% flat rate. The new rate will apply regardless of the number of

kms travelled.

Aboliton of Entrepreneurs Tax Offset from 2012-13.

All new hire purchase contracts from 1/7/12, the GST will be deductible upfront.

ABN: 24 068 930 021


Telephone: (02) 9401 7040 Fax: (02) 9971 7433



TO CHECK

Payroll tax – the NSW OSR has been conducting many audits this year. Threshold is $678,000 and

rate is 5.45%

Superfund deeds have been updated for YE 2011. Superfund deeds should be updated every 3 years

which also include product disclosure statements.

Land tax – If you have purchased a property prior to midnight 31st December, and it is not your

principle place of residence, then that property may be subject to land tax. Vacant land including

rural land, a holiday home, investment properties, company title units, residential, commercial or

industrial units, commercial properties including factories, land leased from state or local

governments are included. The 2012 land tax threshold is $396,00. The premium land tax threshold

for the 2012 land tax year is $2,421,000.

Trust deeds – always be aware of your trust deed rules. Resolutions to be in place by 30 June. Self-employed workers certificates of service for 2011-12 must be lodged by 30 June 2013.

Certificates with bar codes should be destroyed. Helpline 131441 or www.longservice.nsw.gov.au. NSW budget decision for first home buyers grant of $7000 about to come to an end on 30

th

September this year. Sole traders urged to use Personal Property securities register – small businesses and sole traders

should register their security interest with the PPS register that came into effect on 30/1/12.

Businesses can no longer rely solely on retaining title of their goods and reclaiming them if they

supply their goods to customers who become insolvent, bankrupt or sell their goods to another

entity. Personal property includes almost everything except land. It also includes intellectual

property.

Money can’t buy happiness, but it sure makes misery easier to live with….

Lidia

http://www.longservice.nsw.gov.au/

ABN: 24 068 930 021


Telephone: (02) 9401 7040 Fax: (02) 9971 7433



YEAR END CHECKLIST

YEAR END CHECKLIST

INDIVIDUALS

[] PAYG Statements

[] Interest earned

[] Dividend Statements

[] Deduction receipts

[] Rental statements [Agent statements]

[] Rental deductions – Interest, rates, land tax, repairs, insurance etc.

[] Centrelink payments

[] Private health Insurance statement

[] Details of any assets sold – property/shares

[] Medical expenses over $2,060

[] Copy of Instalment Activity Statements

BUSINESS

[] Backup copy of software – Cashflow Manager or MYOB

[] Hardcopy of financial reports

[] Stock-take 30/6/12

[] Copy of Bas Statements

[] Debtors 30/6/12

[] Creditors 30/6/12

[] Travel or car logs/diaries

[] Detail of asset purchases/sales

[] Any new loan/lease contracts required

Important Disclaimer: This newsletter is issued as a guide to clients and for their private information.

Clients should not act solely on the basis of the material contained in this newsletter. I therefore recommend

that formal advice be sought before acting in any of these areas. The contents of this newsletter remains the

property of Loopholes.

ABN: 24 068 930 021


Telephone: (02) 9401 7040 Fax: (02) 9971 7433



OFFICE CLOSURE Please note that due to family commitments, I will be away for the week commencing 9th July to 15th July. If there is anything urgent, you can leave me a message on the answering machine or via email..

I’LL BE AWAY DURING THIS TIME AS WELL AS UPGRADING COMPUTER/SOFTWARE FOR 2011 TAX

SEASON.

I APOLOGISE FOR ANY INCONVENIENCE AND THANK YOU IN ADVANCE FOR YOUR

UNDERSTANDING.

IF THERE ARE ANY URGENT MATTERS, PLEASE SEND ME AN EMAIL OR LEAVE A MESSAGE ON THE

ANSWERING SERVICE.

2011

Office Hours MONDAY 9.00am to 5.00pm

Monday night by appointment only

TUESDAY 9.00am to 5.00pm

WEDNESDAY 9.00am to 5.00pm

THURSDAY 9.00am to 5.00pm

Thursday night by appointment only

FRIDAY OFFICE CLOSED

SATURDAY By appointment only

SUNDAY OFFICE CLOSED PLEASE NOTE FROM FRIDAY TO SUNDAY THERE WILL ONLY BE AN ANSWERING SERVICE. Contact 5 Gilles Crescent, Beacon Hill NSW 2100

PO Box 6034 Narraweena NSW 2099

T: (02) 9401 7040 F: (02) 9971 7433

E: [email protected]