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26.11.2018

Kelsey Plumb - from Nexis Receptionist to EA

Here at Nexis we love it when we see our staff grow. We are pleased to say that our fabulous receptionist and people-person extraordinaire, Kelsey Plumb, has just recently been promoted from her role as receptionist to that of Executive Assistant for Michael Talevich. There aren’t many of our clients who don’t already know Kelsey. She may have spoken to you over the phone or via emails or greeted you in person in our office. Kelsey has been part of our administrative team, so she takes care of a range of admin tasks for our clients – and she gets to speak with all of our awesome clients. She will now also be assisting Michael Talevich in the day to day operations at Nexis. Home renovating, interior design and sky diving are high on Kelsey’s list of passions, but just wait ‘’til you find out what her secret talent is…

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21.11.2018

What the ATO is seeing in the small business market

One of the things we like about working in the accounting world is we get to stay on top of what the ATO is reporting on. Earlier this month Deputy Commissioner for Small Business at the ATO, Deborah Jenkins, gave a speech to the institute of public accountants 2018 national congress on what the ATO is seeing in the small business market A rather interesting read…

Ms Jenkins outlined some of the key things that the ATO is focused on when it comes to small business.

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13.11.2018

Labor’s negative gearing restrictions would apply to all investments

If you thought that the proposed changes to negative gearing would only apply to property investment, then it’s time to think again.

Earlier this month Professor Robert Deutsch, Senior Tax Counsel with The Tax Institute*, Australia’s leading forum for the tax community, was able to confirm with the Australian Labor Party that proposed changes to negative gearing would apply across the board to all investments – not just property investments.

It is further explained that the proposed restrictions to negative gearing would apply on a global basis to every taxpayer.

So, what does this mean for you if you’re negative gearing?

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07.11.2018

LOOK OUT! Xero scams about

It seems even our friends at Xero are not exempt from scams.
Scam emails are currently doing the rounds, seemingly from Xero.
The emails begin with the line ‘Dear Customer’ and prompt you to view your bill for a particular invoice. And if you check the sender, the email is often from the sender ren.mazza@thesmallsofa.com Xero has advised this domain is not associated with Xero in any way and has requested that you do not make any payments, open any attachments or click any links.

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02.11.2018

Getting lost in the day-to-day? Our Business Mentoring can help

Do you find yourself getting lost in the day-to-day operations of your business?

Even if you have a quality-focused team around you, it is easy to come unstuck with so many aspects to manage and seemingly so little time.

Perhaps you don’t have other trusted senior managers to help you, or feel you are lacking support.

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08.10.2018

Dot your i’s and cross your t’s or the ATO will catch you

Declare, declare, declare, we just can’t say it enough.
A reminder that when it comes to your individual tax return, you really need to be dotting your i’s and crossing your t’s, or the ATO will catch up with you.
We have been reminded again just recently that the ATO’s improved data matching means you really need to be absolutely scrupulous - don’t just think it’s too small to matter, or too hard to work out, these sophisticated data matching tools WILL catch you out.

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30.10.2018

Moves to STP and TBAR require regular online processing for SMSF clients

If you have a Self-Managed Super Fund (SMSF), you will have heard from us regarding monthly online processing. Why? due to the change in reporting requirements that have come about via the introduction of Single Touch Payroll (STP) and Transfer Balance Account Reporting (TBAR). Our expert SMSF administration service allows us to do daily processing of transactions, which allows us to comply with the increase in reporting requirements handed down by the ATO.

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24.09.2018

See how our Business Advisory Services can help you

When chatting with new clients about their needs, we often have them initially decline our offer of Business Advisory Services. But more often, as our relationship progresses, and we uncover more and more about their business and how it operates, they realise that a lot of the services we offer, they do actually need, and that many of those services indeed come under the umbrella of Business Advisory Services.

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21.09.2018

A touch cultured, well-travelled and a lover of good food, meet Claire.

If a person could be described as a melting pot of world travel, culture, history and food, our Claire would be it – with a dash of pop culture thrown in. Having been at Nexis for the past two and half years, Claire is Executive Assistance to Domenic Stramandinoli. She’s a cultured one our Claire, but she’s straight up, believing a good, firm handshake always leaves a positive impression.

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15.09.2018

Working from home? Keep the ATO at bay

In today’s technological age the number of people working from home is on the rise. Home offices set up with phone, internet and a good dash of self-discipline to stay focused is all a lot of people need to get their jobs done. And working from home definitely has its perks with more flexibility, greater work-life balance and an escape from an over -abundance of office meetings

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6.09.2018

Drowning in emails? We can help with that

How many emails are in your inbox? Did you know that everyone at Nexis maintains an average well below 100 emails every day? Its actually become a friendly competition in the office to see who has the lowest and our Directors are some of our best.

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31.08.2018

Don’t be fooled - ATO scams doing the rounds

The ATO has just confirmed that impersonation scams have been reported amongst the community - a new method of scamming whereby the scammer initiates a three-way conversation between the scammer, the victim and another scammer impersonating the victim’s tax agent.

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26.08.2018

Single Touch Payroll. Have you heard about the updates?

Single Touch Payroll (STP), as we have previously outlined over the past few months, is an initiative being introduced by the Australian Taxation Office (ATO) to provide real time visibility over the accuracy and timeliness of a business’ payroll processes. It is aimed at streamlining the administration of employee payroll, tax and superannuation obligations for employers.

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20.08.2018

Accountants are more daring than you think, just meet Dinesh

When you first meet Dinesh he's so polite, friendly and calm that you might think he was the last person to jump off a cliff, let alone into water when he can't even swim. You would be mistaken. Learn more about our friendly Senior Accountant.

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14.08.2018

ATO has its sights on short-term rentals

Do you have a short-term rental property? A home, room, apartment or unit that you rent out for short holiday stays, an Airbnb, or temporary lodgings for students or family? If yes, the ATO probably has you in their sights.

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08.08.2018

Realise your goals with our Business Life Planning Workshop

As a business owner you don’t have to sacrifice business goals for personal lifestyle, or vice versa. We can assist you find the perfect balance with our Business Life Planning Workshop.
The NEXIS Business Life Planning Workshop, run with all business owners from any industry or field, will help you to understand and commit to concrete goals for both your business and your personal life.

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31.07.2018

Xero adds GoCardless and PayStand integration to assist small businesses

Good news if you’re a small business needing to receive payments from your customers via direct debit. Xero has recently announced GoCardless integration for its Australian users.
And the best bit? This eliminates the need to chase your unpaid invoices and can also improve the accuracy of your cashflow forecasting.

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21.07.2018

Meet Tom, our Client Relationships Manager

Tom (or Tommy) is our Client Relationships Manager and his parents were literal in naming him Tom (which means twin) because he actually is a twin. But Tom doesn’t need his sister to put in double the effort at Nexis to make our clients happy. Learn more about Tom and find out where to get the best buffalo wings in the world in our staff profile for this month.

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01.07.2018

Single Touch Payroll rollout by Xero to comply with July 1 payroll changes

From 1 July 2018, employers with 20 or more employees must report their employee’s tax and super information to the ATO through their payroll software. This software is required to be Single Touch Payroll (STP) ready. Xero, our recommended accounting software, complies with this but rollout varies depending on your subscription.

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16.07.2018

No trade mark? Are you making a big mistake?

You would be surprised how many businesses make the mistake to register their business name without the security of a trade mark only to find that they can’t do much about a direct competitor who decided to trade with the same business name. Our latest blog will help you understand exactly what a trade mark is and how we can help you to start the trade mark registration process.

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09.07.2018

ATO vows to track down your Bitcoin stash

The ATO is ramping up data-matching services to target unexplained assets and wealth such as cryptocurrencies like Bitcoin and Litecoin. If you had the foresight to have made money out of investing in the cryptocurrency before its recent boom you need to be aware of the capital gains tax implications. If you have gone even further and have a business that transacts with cryptocurrency, did you know that trading stock rules not capital gains tax rules apply? If you’ve failed to mention your crypto wealth to the ATO, get in touch so we can provide advice on what to do next.

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25.06.18

Go the Monaro Panthers FC!!!

Nexis are proudly sponsoring the community league players of the Monaro Panthers again. This includes all teams from under 12’s to under 18’s. Monaro Panthers is a premier league football club based in Queanbeyan that has been running since 1967. We feel very privileged to be supporting the local community and the next generation of football legends!

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25.06.18

Have you forgotten why reporting is crucial for small business?

‘Reporting’ is the word small businesses often forget or deprioritise but can help you forecast and quickly capture business profitability, among other measures. Our programming and Xero experts have been developing a range of customised reporting tools for small businesses to automate monthly, quarterly and yearly business snapshots in one concise and great looking report that you can actually understand.

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25.06.18

We can help you with more than accounting and business advice

One of the benefits that you receive as a client of Nexis is access to our experience and relationships with complimentary service providers. These include financial planners, banks, lawyers, mortgage brokers, insurance brokers, recruitment consultants, marketers, property developers and real estate agents. At this time of the year it is worth considering your needs for these services and to revisit those that you have not reviewed for a while.

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25.06.18

Are you eligible to claim a personal super contributions tax deduction?

The removal of the 10% maximum earnings condition means that you may be able to claim a personal super contributions deduction at tax time this year. Get in contact with your Nexis accountant or read on to find out if you are eligible and how we can guide you through the process.

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25.06.18

What is ‘the Amnesty’, and how does it affect your superannuation?

Late last month, the Minister for Revenue and Finance announced the commencement of a 12-month Superannuation Guarantee Amnesty, otherwise known as the Amnesty. The Amnesty is a one-off chance for employers to disclose any non-compliance with the super guarantee over any period between 1 July 1992 to 31 March 2018 without penalty.

So, what does that mean for you? It will mean different things, depending on if you are an employer or employee.

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250618

We all have that friend that is always late. Late to meetings, their wedding and hasn’t done their tax since 2015. We can help.

So we can’t improve time management skills but we can sort out overdue tax returns. As tax time rolls around this year, it is the perfect time to finally address overdue lodgements from previous years and we will help you clean them up. We have years of experience in negotiating these matters with the ATO and can help you significantly reduce or eliminate penalties associated with late tax returns.

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10.05.2018

Budget Bonus: ACT Government land tax grab

Find out about the ACT Government land tax grab that was passed by the ACT Legislative Assembly just in time for the 2018 Federal Budget.

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10.05.2018

Budget 2018: Superannuation Funds

Superannuation is vitally important, and the government has put it front and centre with major updates to SMSFs and work test exemptions for people aged 65-74. Here are all of the changes and updates you should be aware of to keep your super in check.

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10.05.2018

Budget 2018: Business

Businesses can expect a lot of changes coming their way over the next few months. The instant asset write-off has been extended, and Directors will see more restrictions on GST exemptions as well as lots more.

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10.05.2018

Budget 2018: Families

While there were several budget announcements for families, they are very specific to particular family circumstances. Here's a financial overview of what families can be prepared to expect in 2018/19.

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10.05.2018

Budget 2018: Individuals

Wondering how the 2018 Budget will affect you personally? From tax cuts to a ban on large cash payments, to changes to capital gains discounts, here's a breakdown of the big changes that may affect you.

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19 03 2018

Get to know John, our Senior Manager at Nexis.

John is a Senior Manager and has been with the Canberra office for almost 3 years, but how well do you really know him? Learn why he hates the Hulk and what he does when he’s not mentoring staff at Nexis.

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19 03 2018

ATO knows more than you might think about your hobby

Did you know that the Tax Office knows more than most people think and receives more than 600 million transactions from third party sources including online platforms like Etsy, AirBNB and Carsales. Is it time you told us about your income earning hobby?

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19 03 2018

I am buying my first home should I see an accountant or a financial advisor?

Bec, 27, single and sick of giving her money to someone else decided it was about time to buy her first home early this year. She had heard that first home buyers can use super contributions towards their purchase and she approached Michael at Nexis for an accountant’s point of view. Our interview with Bec is a good example of how accountants and financial advisors can actually provide complementary advice and are both beneficial when buying your first home.

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19 03 2018

ATO catches up with the digital age: electronic receipts are ok

A common question we get all the time is “Do we have to keep paper receipts?” The Australian Taxation Office’s latest taxation ruling makes this all a little clearer for everyone. Electronic records of transactions are generally ok, but check out our latest blog post where we have summarised the key learnings.

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7/02/2018

Meet Haylee from the Nexis Team

Meet Haylee, our Business Operations Manager joined the Nexis team in November and has since been assisting a number of our clients in the areas of recruitment, induction and success planning.

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7/02/2018

Automated Efficiency: Our very own updates to Xero

Recently, we created code to automate processes in Xero, making usage of the platform simple and straightforward for small business owners.

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7/02/2018

Instant Assest Write-off

The instant asset write-off for small business has been extended until 30 June 2018. That means if you buy an asset for your business that costs less than $20,000, you can immediately deduct the business portion in your tax return.

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7/02/2018

Cryptocurrency – What's the big deal?

Cryptocurrency is a significant area of growth and focus for the ATO at the moment, as the tax perspective differentiates treatment depending on the use of this currency.

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06.12.2017

Nexis expands to Brisbane.

You may have heard that Nexis will be expanding to Brisbane in the New Year. That’s right – Michael will be moving to sunny Queensland to be closer to his family and extend the Nexis offering to interstate. From an operational point of view, nothing will change for Nexis, and Michael will still be available as much as ever before.

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06.12.2017

Nexis Annual Race Day

On Friday 1 December, Nexis held their Annual Race Day at Thoroughbred Park. We raised $3,141.05 for our chosen charities for this year which were Beyond Blue and the Heart Foundation.

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06.12.2017

What the ATO has to say about Christmas parties and client gifts

Christmas time comes with parties, food, gifts, food, parties and more food. All that entertaining can become pretty taxing, not only for your belly, but for your wallet, especially when the entertainment is for clients and staff. Luckily, some expenses are exempt from fringe benefits tax (FBT). We’ve done the research and found the top resources for you to figure out if some of those expenses are free from tax obligations at tax time.

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06.12.2017

What to get your favourite accountant for Christmas

The most wonderful time of the year has finally arrived! Christmas barbecues, Christmas parties, spending quality time with the family, backyard cricket and loads of presents are what make Christmas so special. But did you know that accountants love getting Christmas presents too? We’re not kidding. To make things just a little bit easier for you, we’ve compiled a list of the top three things to get your favourite accountant for Christmas.

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15.11.2017

Businesses be warned – excessive credit card fees are now illegal

A new law implemented on September 1 now prohibits business owners from charging their customers with excessive fees on credit, debit and prepaid cards.

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15.11.2017

Little Wins from the Big Banks

You may have heard that the big banks have made the big decision to banish their ATM fees. By removing their fees, the banks hope that they’ll be making an impact for all Australians, although particularly those in rural and regional areas.

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31.10.2017

Nexis provide expert advice on Kochie's Business Builders

Watch Nexis director, Michael Talevich discuss what to consider when beginning a new business with Siobhan from Separate Together.

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26.10.2017

Director Michael Talevich on Kochie's Business Builders

Michael will be on Kochie's Business Builders THIS Sunday, talking with Siobhan from Separate Together about how to start a new business.

Check out the preview, and stay tuned for the full video, which we'll be posting the next week.

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20.06.2017

Pacific Eastcoast Winter Update

A winter update on the Australian property market created specifically for Nexis clients.

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12.09.2016

Key Dates - September/October

Upcoming key dates for your business

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12.09.2016

Business Advisory - September 2016

What is key person reliance and what does it mean for your business? This month we look at how key person reliance can affect your future...

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12.09.2016

Tax News & Updates - September 2016

The Federal election in July provided some much needed certainty around taxation development. The ATO has issued some important updates:

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30.06.2016

Light Rail Business Link Newletter

Nexis Director Michael Talevich has written an article for the Canberra Business Chamber - Getting on the right track with your financial and strategic planning...

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30.06.2016

Can Your Business Afford to Not Evolve?

It’s been some time since you started your business. Many business owners have mixed emotions as they experience the highs and lows of owning and running a small business. Very few small business owners take the time to sit back and analyse the changes taking place in their business...

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31.05.2016

Business Advisory - May 2016

Can your profits go up when your sales are down? What about the other way – can you be worse off after a period of significant growth?
In uncertain times or slowing sales, you need to move quickly to protect your bottom line.

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31.05.2016

Tax News & Updates - May 2016

May has been an exciting month for tax changes with the main news coming out of the Federal Budget. Overall, the budget has introduced great measures for small business entities. Below are the main highlights that might be of interest to you;

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29.04.2016

Business Advisory - April 2016

Congratulations! You have recently become a small business owner or maybe have an opportunity to start a business. It’s now time for a reality check! Australian Government statistics provide a stark insight into business failures in Australia: somewhere between 50% and 75% of businesses fail within 3 to 5 years of their commencement.

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29.04.2016

Are you SuperStream ready?

SuperStream is a standardised electronic method of paying and reporting superannuation contributions

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29.04.2016

Tax News and Updates - April 2016

FBT Exempt Vehicles Explained

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08.04.2016

Business Planning for Success

Canberra Business Point - Presentation by Director Michael Talevich - to be held Thursday 21 April 2016.

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31.03.2016

Tax News & Updates - March 2016

The new FBT year is upon us and will bring some changes to the way employers and employees will deal with FBT

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31.03.2016

Retirement Planning

Do you have a plan for your retirement?

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31.03.2016

Self Managed Super Funds - Extra - March 2016

ATO confirms that an employer cannot claim input tax credits where it pays an expense on behalf of a super fund

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31.03.2016

Self Managed Super Funds - March 2016

SMSFs have until 30 June 2016 to comply with strict new rules for collectables and personal use assets

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29.02.2016

Self Managed Super Funds - Feb 2016

ATO provides updated guidance on the process for claiming exempt current pension income

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29.02.2016

Tax News & Updates - Feb 2016

Tax and Superannuation Laws Amendment
The Tax Laws Amendment (Small Business Restructure Roll-Over)
Important Tax Changes regarding substantiation for phones and internet

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01.09.2015

August - Business Planning

One of the more important documents that a business should have is its business plan. This living breathing document should be not only a guide to the operation of your business but also a valuable document in your ability to obtaining funding. Whether this funding is from a bank, or an external or internal investor, your business plan can be the secret weapon to getting your finance needs across the line.

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01.09.2015

August - Property Advice

Owning an investment property can be far more affordable for potential investors than they think, particularly when they claim all of the tax deductions available to them.

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01.09.2015

August - Self-Managed Super Funds

The ATO has announced its areas of focus for the coming year. Specifically, the ATO will be targeting the following;

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01.09.2015

August - Tax News & Upcoming Events

This month we wish to bring to your attention a number of changes in taxation laws and upcoming tax events and deadlines.

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27.07.2012

We're Telstra Business Awards Finalists

Nexis are pleased to announce that we have been selected as finalists in the 2012 Telstra Australian Capital Territory Business Awards in thr MYOB Small Business category.

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