Meet Leanne Rudd – CEO, The Money Edge
Welcome to The Money Edge
At The Money Edge we take a holistic approach to our clients and as such we offer a variety of services to ensure we are able to provide our clients with the best solutions for their situation.
Unique solutions for our clients are delivered by a team of highly skilled and qualified staff members who thrive on helping our clients achieve their goals and desired lifestyle.
Our Latest Blogs
- The ATO has recently warned employers that it considers that annual leave loading should normally be part of ordinary tiThe ATO has released updated benchmark data drawn from over 1.5 million small businesses around the country to ‘heThe ATO has noticed some common errors made in activity statements since the introduction of ‘GST at settlementATO Assistant Commissioner Peter Holt has announced that, in the 2019/20 financial year, the ATO will be visiting a furtThe Australian Taxation Office Online Terms and Conditions are changing from 1 June 2019. The most important changes areThe Australian Taxation Office has issued an urgent warning about an email scam. An extremely convincing phishing emailThe small business income tax offset (also known as the unincorporated small business tax discount) can reduce the tax yRecently my husband and I went through the process of building our first family home and we can wholeheartedly say thatOn Tuesday 2 April, the Federal Government handed down its Budget for the 2019-20 financial year. This is the first BudgSingle Touch Payroll is a way of sending tax and super information to the Australian Taxation Office (ATO) from your payThe ATO has published the key superannuation rates and thresholds for the 2019/20 year. Some of these rates and thresholOn 29 January 2019, the Prime Minister announced that legislation will be introduced to: extend the small business instaThe ATO has again warned taxpayers to be alert for scammers impersonating the ATO, as it appears they have changed tactiThe ATO has recently reminded small businesses of the expanded tax concessions potentially available to them, as outlineUnderstanding STP obligations Single Touch Payroll (‘STP’) is a Government initiative aimed at cutting red tape for emplThe rules for claiming deductions for payments to workers are changing. From 1 July 2019, businesses can only claim deduRecently the Treasury released a consultation paper proposing changes to the treatment of complying Debit Loans to ShareThe ATO’s next round of pre-emptive SMS lodgement reminders have been scheduled for February 2019. If you have a DFuel tax credit rates change regularly. They are indexed twice a year, in February and August, in line with the consumerChoose a schedule which covers all scenarios Capital Gains Tax (CGT) has always been a complicated topic for property inThe Federal Election will be the primary focus over the next few months, with many commentators predicting a possible chThe Government has released a consultation paper with respect to the implementation of the 2018/19 Federal Budget announThe Mid-Year Economic and Fiscal Outlook (‘MYEFO’) report was recently released. It indicates that the underlying BudgetThe ATO has updated the hourly rate taxpayers can use to determine deductions for home office expenses from 45 cents toThe ATO has been issuing ‘Additional tax on concessional contributions (Division 293) assessments’ with respect to liabiBusiness is booming for cyber-criminals as they’ve stolen a record $107 million from Australian businesses and individuaI remember receiving my first pay packet. I rushed home and counted out the total, immediately putting some aside for spHow would you like to share in $17.5b? This is the total amount of lost and unclaimed super according to the ATO. Have yDo a financial health-check of your business January is a good time to check the financial health of your business. ReviWhat is depreciation? As a building gets older and items within it wear out, they depreciate in value. The Australian TaThe ability to make ‘downsizer contributions’ effectively commenced on 1 July 2018, prompting the ATO to relThe Government has announced it intends to introduce legislation to improve the ability of small businesses to offer empThe ATO has extended its data matching program, this time focusing on share data. The ATO will continue to receive shareThe ATO has finalised a trial relating to sending overdue taxpayer lodgement obligations to external collection agenciesThe ATO has recently advised that it will be contacting taxpayers (and tax agents on behalf of their clients) that haveThe ATO has advised that it will send SMS text messages directly to taxpayers where incorrect bank account details wereThe Government has released a consultation paper outlining proposed reforms to ‘simplify’ the loan agreements that are gIf you’re like me, you may find yourself doing your Christmas shopping online. There are many reasons why online shoppin16 November 2018 ‘Tis the season to be jolly! But ho-ho-hold up before you start making spirits bright and rewardiThere is plenty of advice out there about why you should save for your future, but little that explains exactly how. One‘Tis the season to be jolly! If you’re involved in the administration of fringe benefits tax (FBT) for your‘Tis the season to be jolly! If you’re involved in the administration of fringe benefits tax (FBT) for yourWith Christmas just around the corner, here are 5 tips to help plan ahead and avoid a financial hangover on New Year’s DIf you use your business vehicle for travel between work and home and the business vehicle is available for private use,The Government has fast-tracked the already legislated tax cuts to small and medium businesses by bringing them forwardSingle Touch Payroll (‘STP’) commenced on 1 July 2018 for approximately 73,000 employers who have 20 or more employees.The Taxable Payments Reporting System (‘TPRS’) has been expanded to the cleaning and courier services industries from 1Does the idea of buying commercial property instead of renting your current business premises appeal to you? Or are youFrom 4 October 2018, the Government has banned activities involving electronic sales suppression tools (‘ESSTs’) that reThe ATO has received increasing reports of a new take on the ‘fake tax debt’ scam, whereby scammers are now impersonatinIt has never been easier to find lost super! You might not even think it is lost, but if you moved and forgot to updateSoon Xero and MYOB will make it compulsory to enable the 2 factor authentication on anyone that has a log in. The main rOver the past two days, global sharemarkets have fallen significantly due to growth concerns. One of the catalysts is thThe Small Business Digital Grants Program can assist small businesses to access digital technologies and services to helThe Government has announced a package of reforms to tackle illegal phoenix behaviour. By way of background, phoenixingDepreciation is a complex area, so unless you’re a specialist Quantity Surveyor or a qualified Tax Accountant, it can beLegislation has been passed by Parliament to implement the Private Health Insurance (‘PHI’) reforms announced by the GovAs part of the next phase of its drought assistance policy (which includes various other measures), the Government annouLast year, 6.7 million taxpayers claimed a record $7.9 billion in deductions for ‘other work-related expenses’, which inIn a recent twist in the ‘fake tax debt’ scam, the Australian Taxation Office have received increasing reporDo you really need personal insurance? Ask yourself the following questions- Would your family be able to survive withoOnce an investor starts claiming depreciation, they can expect an improvement in their cash flow. This is because deprecThe ATO is currently offering various support measures to individuals and businesses from drought-affected communities tRecently issued draft legislation has focused on introducing new measures to manage the growing cash economy (i.e., theThe benchmark interest rate for 2019, for the purposes of the deemed dividend provisions of Division 7A and the associatIn the last week of the August Parliamentary sittings, the controversial corporate tax cut plan for the big end of townThe proposed superannuation guarantee (‘SG’) amnesty is a one-off, 12-month opportunity to self-correct past non-compliaOn the 28th September 2018 Xero has decided to increase their subscription charges. Xero advise this is due to investingWomen used to be stuck at home taking care of all the household duties. Now in this modern age of being working women hoAre you an investor who’s heard about the benefits of depreciation and have decided to start claiming? That’s great newsThe Australian Business Register (ABR) is working with Australian Securities & Investments Commission (ASIC) in prepThe ATO has become aware of people in some suburban areas of major cities attempting to encourage others to illegally acDepreciation can be a rather complex area with specific rules, qualifying dates, depreciation rates, methods for claiminDue to recent changes to tax laws in Australia, Facebook ads purchases in Australia will be subject to a goods and serviSingle Touch Payroll (STP) officially commenced for larger employers on 1 July 2018, and the ATO has provided some furthThe Government has decided not to put the Treasury Laws Amendment (Enterprise Tax Plan No. 2) Bill 2017 to a vote in theAs Tax Time 2018 has ‘kicked off’, the ATO has profiled the five most common mistakes they see, including taThe Commissioner of Taxation has determined that the rate at which work-related car expense deductions may be calculatedWith interest in cryptocurrencies (such as Bitcoin) increasing, the ATO has issued guidance regarding various tax conseqThe ATO says the top five mistakes made in individual tax returns are: leaving out some of their income – maybe forgettiWhen you think of how much you do online or on your phone, there is always a real threat that there is someone out thereFrom 1 July 2018, responsibility for the administration of the early release of superannuation benefits on compassionateThe ATO claims that it is committed to supporting small businesses and making it as easy as possible for them to understA focus on work-related clothing and laundry expenses this Tax Time will see the ATO “more closely examine taxpayeParliament has passed the Government’s Personal Income Tax plan, meaning that the first stage of the proposed incoFrom 1 July 2018, businesses that sell goods into Australia and meet the goods and services (GST) registration thresholdSmall businesses with a turnover of less than $10 million (GST exclusive) can claim immediate tax deductions for individIn the 2017/18 year, minors (under 18 at 30 June) can receive investment income (including trust distributions) of up toMany of our business clients like to review their tax position at the end of the income year and evaluate any year-end sTax saving strategies prior to 1 July 2018 A good strategy to reduce tax payable is normally to accelerate any income taAs from 1 July 2017 the maximum concessional superannuation contribution limit is $25,000 for all individuals, regardlesThe car parking threshold for the FBT year commencing 1 April 2018 is $8.83. This replaces the amount of $8.66 that applThe car limit is $57,581 for the 2018/19 income year (unchanged from the previous year). This amount limits depreciationThe ATO has reminded members of SMSFs that they will be able to use their voluntary super contributions to assist with bThe ATO has announced that it will be closely examining claims for work-related car expenses this tax time as part of aThe Government has introduced legislation to complement the superannuation guarantee (‘SG’) integrity packagThe Government handed down the 2018/19 Federal Budget on Tuesday 8th May 2018. Some of the important proposals include:On Tuesday 8 May, the federal government handed down its Budget for the 2018–19 financial year. This is the third BudgetThe ATO has recently advised that they are “setting their sights on the large number of mistakes, errors and false claimAn employee photographer has been denied deductions for travel expenses (when travelling with his family), and other purThe ATO has released Taxation Determinations setting out the following rates for the FBT year commencing on 1 April 2018As we approach the end of the financial year, there are a number of smart strategies you could consider to help you streEmployers of 20 or more staff (according to a simple headcount on 1 April 2018) will be required to lodge their payrollHave you had a look at your current level of life insurance lately? Yes, I know some of you will say ‘I have got insuranRecently, the Commissioner of Taxation highlighted the areas in which the ATO has recently increased its focus, includinThe Federal Court has held that superannuation guarantee contributions were payable with respect to the ‘additional hourThe ATO has published the key superannuation rates and thresholds for the 2018/19 income year. – The Non-ConcessioThe ATO has recently advised that, in an effort to maintain accurate data, the Australian Business Register (or ‘ABR’) pFrom 1 July 2018, individuals aged 65 or over may use the proceeds from the sale of an eligible dwelling that was theirIt’s that time of year again. Time to ensure you are ready to lodge your fringe benefit tax for 2018. A fringe benefit iThe ATO has published the key superannuation rates and thresholds for the 2018/19 income year. The Non-Concessional ContThe ATO has updated its small business benchmarks with the latest data from the 2015/16 financial year. In addition to hThe Small Business Superannuation Clearing House (SBSCH) joined the ATO’s online services on 26 February 2018. ThThe government has released draft legislation to ensure that a reversionary Transition to Retirement Income Stream (‘TRIIn a recent case, an Uber driver’s access to the Uber app had been terminated as a result of failing to maintainThe Administrative Appeals Tribunal has upheld amended assessments issued by the ATO to a beauty technician, based on thThis year, the ATO is paying close attention to what people are claiming as ‘other’ work-related expense dedThe Treasurer has released draft legislation containing new “integrity improvements” to the CGT small busineOn February 22, the government’s mandatory data breach notification scheme came into effect. The scheme requires organiFeeling overwhelmed? Invoices, statements, receipts, bank statements, credit card statements, warranties, manuals, the lThe Government has established a Small Business Digital Taskforce, to be headed by entrepreneur Mark Bouris AM, to ensur