MARCH 2010

Tax Update

Michael Jones, Cummings Flavel McCormack

With the March 31 deadline for FBT assessment looming, Michael Jones of Cummings Flavel McCormack, says it's a good time to calculate your travel distance and make any useful adjustments while you still can. On the same theme of prevention being better than cure, he advises checking on your superannuation contributions: are they conforming with the new lower levels in force this year? And, with small and medium businesses contributing 62 percent of all tax receipts, be on the lookout for greater Tax Office audit activity. There's a lot of money involved.