Life Message

The Henry Tax Review - 2010 affecting your life style

2010-05-02T18:57:00.001-07:00

The Henry Tax Review is also referring to Australia's Future Tax System Review; it is a significant review of the Australian tax system.
The Australia's Future Tax System Review was established by the Rudd Government in 2008 to examine Australia's tax and transfer system, including state taxes, and make recommendations to position Australia to deal with the demographic, social, economic and environmental challenges of the 21st century.

Dr Ken Henry AC, Chair (Secretary to the Treasury)
Dr Jeff Harmer (Secretary of FaHCSIA)
Professor John Piggott (University of New South Wales)
Mrs Heather Ridout (Australian Industry Group), and
Mr Greg Smith (Adjunct Professor, Australian Catholic University)

One of the main objectives of the Tax Review is to simplifies the tax system, the panel Using wide community consultation and specific terms of reference, recommendations on all aspects of the Australian tax system have been made including: superannuation, company taxation (all businesses), environmental taxes; retirement income; and improving transfer and payment systems.
The Australian Government has released the contents of the Henry Tax Review on 2 May 2010. These are some of the major items announced by the Rudd's Government:

compulsory superannuation will be rise from 9 to 12 per cent by 2019-20
$500 annually payment to low-income workers into their superannuation
Compulsory super payments to worker up to 75 years old.
those worker over 50 will be able to top it up by $50,000 a year in concessional contributions.
A reduction in company tax from 30 to 28 per cent by 2015
Small business benefit earlier from company tax cut from 2012
assets up to $5,000 immediately written off, providing an instant tax benefit.
40 per cent tax on above normal profits for Mining industry.

Chinese Proverbs

2010-02-02T15:41:00.000-08:00

To open a shop is easy, to keep it open is an art.

Men in the game are blind, men outside see clearly

Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.

Heaven has a road, but no one travels it, hell has no gate but men will dig to get there.

Preserve the old, but know the new.

A closed mind is like a closed book, just a block of wood.

To know the road ahead, ask those coming back.a

It is not necessary to light a candle to the sun.

Tell me, I'll forget, show me and I may remember; involve me and I'll understand.

If you are planning for a year, sow rice; if you are planning for a decade, plant trees; if you are planning for a lifetime, educate people.

Be not afraid of growing slowly, be afraid only of standing still.

Behind schedule!!!!!

2010-01-10T16:39:00.000-08:00

On 1 June 2009 the Tax Office (ATO) introduced new measures to help small businesses that are struggling to manage their tax payment obligations in the current economic climate.
12 month general interest charge (GIC) free payment arrangements
Businesses with an annual turnover of less than $2 million and an activity statement debt can apply for a GIC-free payment arrangement from now until 30 June 2010. GIC will be remitted for a maximum period of 12 months, provided the payment arrangement is maintained. There is no limit on the amount of debt under arrangement.

To be eligible a business must

have an annual turnover of less than $2 million

have an activity statement debt, and

negotiate a mutually acceptable and sustainable payment arrangement with the Tax Office that is entered into between 1 June 2009 and 30 June 2010.

The GIC-free period applies to:

activity statement debts (eg GST, PAYG).

Superannuation guarantee charge (SGC) debts are not included as the GIC forms part of the employees’ entitlements.

No GIC is payable for a maximum of 12 months from the day on which the arrangement is entered into.

The actual GIC-free period (maximum of 12 months):
- starts on the day on which the agreement was made, and
- finishes on the day the final instalment is due.
If the arrangement defaults, the GIC-free period ends on the date of default.

If a payment arrangement entered into prior to 1 June 2009 is renegotiated after 1 June 2009, the new arrangement will be treated as a GIC-free payment arrangement subject to the eligibility criteria being satisfied.
*For businesses which belong to a group of entities, the circumstances across all members of the group may be considered when determining eligibility for these offers.

How do I apply?

Phone us on 13 11 42 from 8.00am – 6.00pm Monday to Friday.

If your debt is less than $25,000 you can use our automated self help service to apply for a payment arrangement by calling 13 72 26. Our self help service operates 24 hours a day, seven days a week.

contact your tax agent

You can also go to ATO's website to submit a question via the Debt payment email enquiry.

God's Message On Peace

2009-07-17T18:11:00.000-07:00

Psa. 34:14.
"Depart from evil and do good; seek peace and pursue it."

Heb. 12:14.
"Follow peace with all men and holiness without which no man shall see the Lord."

Rom. 14:17.
"The kingdom of God is not meat and drink, but righteousness and peace and joy in the Holy Spirit."

Rom. 14:19.
"Follow after the things which make for peace and things wherewith one may edify another."

Rom. 12:18.
"Live peaceably with all men."

I Cor. 14:33.
"God is not the author of confusion, but of peace."

I Cor. 7:15.
"God has called us to peace."

I Tim. 2:2.
"Lead a quiet and peaceable life in all godliness and honesty."

Jas. 3:17.
"The wisdom that is from above is first pure then peaceable."

Isa. 26:3.
"Thou wilt keep him in perfect peace, whose mind is stayed on thee."

Prov. 16:7.
"When a man's ways please the Lord, he maketh even his enemies to be at peace with him."

I Thes. 5:13.
"Be at peace among yourselves."

2 Cor. 13:11.
"Be of one mind, live in peace and the God of love and peace shall be with you."

Mark 9:50.
"Have peace one with another."

Job 22:21.
"Acquaint now thyself with God and be at peace: thereby good shall come unto thee."

Jas. 3:18.
"The fruit of righteousness is sown in peace of them that make peace."

2 Tim. 2:22.
"Follow righteousness, faith, charity, peace with them that call on the Lord out of a pure heart."

Col. 3:15.
"Let the peace of God rule in your hearts, to the which also ye are called in one body."

Eph. 4:3.
"Keep the unity of the Spirit in the bond of peace."

Rom. 10:15.
"Preach the gospel of peace."

Rom. 8:6.
"To be spiritually minded is life and peace."

Zech. 8:19.
"Love the truth and peace."

Prov. 12:20.
"Deceit is in the heart of them that imagine evil: but to the counsellors of peace is joy."

Psa. 119:165.
"Great peace have they which love thy law, and nothing shall offend them."

Psa. 37:37.
"Mark the perfect man and behold the upright: for the end of that man is peace."

Psa. 37:11.
"The meek shall inherit the earth; and shall delight themselves in abundance of peace."

2 Peter 3:13,14.
"We, according to his promise, look for new heavens and a new earth, wherein dwelleth righteousness; wherefore, beloved, seeing that ye look for such things, be diligent that ye may be found of him in peace, without spot and blameless."

Rom. 14:18.
"He that in these things serveth Christ is acceptable to God and approved of men."

Do we really need this ---------Rudd's Debts????????

2009-05-08T19:04:00.000-07:00

What plans he has in place????!!!!!! After what he did and or doing......
Does he understand the meaning of Debt? It means - When someone spend the money that he/she does not have.. But who care "Rudd's popularity will rise again with the Government's debt, such as 1st then 2nd then 3rd stimulus package and so on.... But Why the jobs lossssssssss still going............????????

Our money from $??billion surplus to ......in DEBTS Not AU$1 million....but AU$??? billion

Should we encourage Rudd'07 to call for early election and then enrol the Rudd regime to the Financial Management course....Especially the Treasurer....

As a Parent I would never let my children to Inheritancesa...$42 Billions Debt

2009-02-20T17:12:00.000-08:00

The Rudd Government stimulus package $42 billion, the plan aims to retain 90,000 jobs up to 2011 and to slow down the Australia against the global economic crisis.
The package covering:
• $14.7b for school infrastructure and maintenance and bringing forward funding for trade training centres ($200,000 per school)
• $12.7b for cash bonuses of up to $950 in immediate one-off payments for families with school-age children, farmers, single income families and people undergoing training
• $6.6b for community and public housing to boost the national stock of public and community housing by about 20,000 new homes
• $3.9b for insulation to 2.7 million homes and solar hot water rebates;
• $2.7b in tax breaks for small businesses to provide deductions for some equipment purchases before the end of June this year
• $890m for regional infrastructure and maintenance (such as: roads railway..) for regional and local government

The Rudd government could not guarantee this stimulus package will really work, in term of retaining JOBS, even the experts has advice that there is no format to measure this big hands-out the result.

But in reality, once the $42 billion has spent, this Debt will be passing to our Future Generation shoulders’.

So far, the Rudd Government has no practical agenda on “HOW TO PAY OFF THIS DEBT, while he is still in power?” The Government has denial there will be taxes increment to cover this Debt, his only hope that the DEBT will be automatically vanish when the economy picking-up again.

So let us hope his dream come true for the sake of our Future Generation might carry this heavy loaded burden.

Financial crisis!!!

2008-11-28T19:39:00.000-08:00

Genesis 45: 7&8:
"God sent me ahead of you to rescue you in this amazing way and to make sure that you and your descendants survive. So it was not really you who sent me here, but God. He has made me the king's highest official. I am in charge of his whole country; I am the ruler of all Egypt."

A message of hope for the financial crisis sprang up in my thinking and allowed me to look at my life with victory. A message of hope that even when life looks bleak God would never let me down.

GIve me what U promised Rudd!!!!

2008-05-16T21:10:00.000-07:00

China has been hit by an earthquake, Burma a tornado, and the middle east has war, well what we got? “Inflation” crisis!! I don’t think so, this issue is serious enough to let our pensioners strip themselves at parliament house to protest against the cuts to their benefits shown on the “News” and all over the world. After the Rudd Government budget announcement, I have few questions to ask.

What Rudd’s definition of ‘working families’? In term of income, tax and social benefit entitlements?

Can the government guarantee that this budget cut is going to control inflation? What measures are in place to control inflation?

How long will the pensioners have to suffer? Why will it take Rudd’s government a year to review this issue?

As John Howard mentioned “We do not need a new leadership, but the right leadership.” And Rudd stated during campaign “Australian needs change.” So, we got change. The media, the unions and most of us poured in to polling stations to get rid of Howard and we got our change and new leadership.
Then what????

My advice to Rudd is we all live only once. There will always be inflation or deflation but do our pensioners need to suffer even more because of it.

2007-05-18T21:47:00.000-07:00

Hypocrites
Life is short, art long, opportunity fleeting, experience treacherous, judgment difficult.

Italian Proverb
After the game, the king and the pawn go into the same box.

Chinese proverb
Love your neighbors, but don't pull down the fence.

Spanish Proverb
Love, pain, and money cannot be kept secret; they soon betray themselves.

English Proverb
Luck has a slender anchorage.

Life Quotes

2007-03-30T18:35:00.000-07:00

Anonymous prayer
God, if I can't have what I want, let me want what I have.

Confucius
Our greatest glory is not in never falling, but in rising every time we fall.

Unknown
Don't cry because its over, smile because it happened.

Chinese proverb
Man who waits for roast duck to fly into mouth must wait very, very long time.

Unknown
Life may not be the party we hoped for, but while we're here we should dance.

You and yours Love

2007-01-02T17:22:00.000-08:00

One can be unhappy by oneself, but to be truly tormented, one must love.
Love is harder to accept than to give.
To love is to embrace life.

To love fully is to embrace both-death and life.
The secret of happiness is simple: be loving, giving, caring.
Why, then, are so many unhappy? Because they are afraid.

Love only yourself, and you are alone.
Love only one other, and the two of you are alone.
Love only your family, and your family is alone.
Love only your nation, and your nation is alone.
There can be no communion, not even with yourself, except through love of God.

True Friends

2005-09-09T20:05:00.000-07:00

Nothing can measure up to
the joys a friend can give.

It brings a brightness to each day.
To have a friend like you,
And I know that our friendship
will last a lifetime through.

We are on this earth for a short time and
true friends make it an enjoyable journey.

Friendship is being
accepted for who you are.

A friend is not embarrassed to
give you a comforing hug
when you most need one.

Friendship is something we should
never take for granted
just because we have it.

A true friend is always loyal
and show a sense of care,
and with whom our hopes
and dreams we may always share.

When we have a special friend
we have far more than wealth.
For to have a true loyal friend
It is a gift frim life itself.

Friends are there when
thing may not be going right.
And we meed a s helping hand.

Friendship is caring and sharing
and being there for each other.

A friend is someone you
trust with your inner most
thought and feelings.

A to Z Holy Words

2005-04-22T17:38:00.000-07:00

Although things are not perfect
Because of trial or pain
Continue in thanksgiving
Do not begin to blame
Even when the times are hard
Fierce winds are bound to blow
God is forever able
Hold on to what you know
Imagine life without His love
Joy would cease to be
Keep thanking Him for all the things
Love imports to thee
Move out of “Camp Complain”
No weapon that is know
On earth can yield the power
Praise can do alone
Quit looking at the future
Redeem the time at hand
Start every day with worship
To “thank” is a command
Until we see Him coming
Victorious in the sky
We’ll run the race with gratitude
Xalting God most high
Yes, there’ll be good times and yes,
some will be bad, but….
Zion waits in glory……
where none are ever sad!

LOVE & HAPPINESS

2005-03-10T16:41:00.000-08:00

What is love?
It's patience when your neighbour's curt.
It's silence when your words would hurt.
It's deafness when scandal flows.
It's thoughtfulness for other's owes.
It's promptness when stern duty calls.
It's courage when misfortune falls.

What is Happiness?
Happiness comes when we stop complaining about our troubles and begin to be thankful for the troubles we don't have.