TMS Accountants

02/08/2024

📢 Important Update for Home Workers!

From 1 July 2022, the ATO's revised fixed rate method allows you to claim 67 cents per hour worked from home. This covers energy, phone, internet, and stationery costs.

🗓️ Working from home? Let's make sure you're claiming all your eligible expenses. Book a consultation today!

(02) 9725 6169 | 📧 [email protected]

Learn new ATO guidelines for work from home claims with TMS Financials. Understand the revised fixed rate method to maximise your tax deductions.

01/08/2024

🔌 New ATO Guidelines for EV Charging Costs!

The ATO now allows a simplified 4.2 cents per kilometre rate for home EV charging costs. This makes managing your EV expenses easier for both individuals and businesses.

🚗 Have an EV? Let's discuss how to optimise your charging cost claims. Book a consultation today!

(02) 9725 6169 | 📧 [email protected]

Learn about the ATO's new guidelines for calculating home EV charging costs and how to apply them for tax purposes with TMS Financials. Contact us today!

31/07/2024

🚨 Attention! New Super Tax Alert 🚨

Starting 1 July 2025, there will be an extra 15% tax on superannuation balances over $3 million. If your super balance is above this limit, it's crucial to understand the impact. Read our article to learn how these changes might affect you.

Concerned about your super balance? Let's discuss how to optimise your strategy. Book a consultation today!

(02) 9725 6169 | 📧 [email protected]

Learn about the new 15% tax on super balances over $3 million starting 1 July 2025 with TMS Finacials, and how it impacts your financial planning.

05/07/2024

Attention Ages 55+ homeowners: Boost your super with downsizer contributions! 🏠💰

- Contribute up to $300,000 from home sale proceeds
- Available from age 55
- One-time opportunity
- May affect transfer balance cap & Age Pension

Considering downsizing? Let's discuss if this strategy fits your financial goals. Book a consultation to explore your options!

(02) 9725 6169 | 📧 [email protected]

04/07/2024

Are you maximising the tax benefits of your investment property?

With over thirty years of experience, TMS Financials can enhance your tax deductions and Capital Gains Tax strategies.

Considering buying or selling a property? Let us guide you through the financial aspects and connect you with expert advisors tailored to your needs.

Contact TMS Financials today to confidently plan your next investment move.

(02) 9725 6169 | 📧 [email protected]

20/06/2024

Set up a Bucket Company to Access the 25% or 30% Capped Tax Rate

Setting up a bucket company can be a strategic move to access the 25% or 30% capped tax rate, significantly reducing your tax on certain types of income like dividends and capital gains. Here’s how to get started:

1. Efficient Structure: Set up your company to distribute dividends and capital gains effectively.
2. Transfer Assets: Move assets and profits from your trust to the bucket company.
3. Compliant Loans: Ensure loans adhere to legal standards.

Setting up a bucket company is complex. For professional advice and to ensure everything is set up correctly, contact TMS Financials today!

(02) 9725 6169 | 📧 [email protected]

19/06/2024

📝 Are you familiar with Division 7A loan agreements?🏦

These are crucial for companies and their shareholders to ensure payments aren't mistakenly treated as dividends. Here's what you need to know:

1️⃣ Types of Division 7A Loans:

Unsecured Loans: Maximum term of seven years.
Secured Loans: Can extend up to 25 years, depending on the collateral.

2️⃣ Loan Agreement Essentials:

Must be in writing before the company’s lodgement date.
Should outline loan amount, repayment schedule, and interest rates (not less than the benchmark rate).

The term should not exceed seven years unless secured by real property.

Contact us at to learn more 📊🔍

(02) 9725 6169 | 📧 [email protected]

14/06/2024

🔍 Understanding Shareholder Loan Repayments

When your company repays funds that were initially provided as loans by shareholders, it's not just about giving money back. These repayments, detailed in a shareholder loan agreement, differ from dividends or salaries as they return capital, not distribute profits.

Ensure every step—from documenting the loan to structuring the repayments—complies with legal standards to benefit both your business and shareholders. 📈💼

Contact us at to learn more

(02) 9725 6169 | 📧 [email protected]

13/06/2024

Why Pay Yourself a Salary as a Company Director?

As a company director, paying yourself a salary keeps your personal and business finances clear and compliant. It's simple, smart, and sets you up for success. Here’s why it matters:

✅ Ensures regular, fair compensation
✅ Simplifies tax compliance
✅ Aligns personal and business financial goals

Treat yourself as an integral part of your business team. 💼📈

Need to know more? Contact us at

(02) 9725 6169 | 📧 [email protected]

07/06/2024

Maximising Your Rewards with Compliant Bonuses & Commissions!

As a company director, paying yourself through bonuses and commissions can be both rewarding and strategic. It's crucial, however, to structure these payments correctly to maintain compliance with the Income Tax Assessment Act and avoid pitfalls like Division 7A.

Want to optimise your compensation strategy? Contact us today!

(02) 9725 6169 | 📧 [email protected]

Explore strategies for effectively managing and structuring director bonuses and commissions to ensure compliance, with expert advice from TMS Financials.