This workbook will calculate the assessable or deductible balancing adjustment, and if applicable the capital gain/(loss), on disposal of an asset depreciated under the uniform capital allowance system.  It will also calculate the reductions to be made to the cost and termination value if the asset is a car and its cost exceeded the car limit and calculate the reductions to the balancing adjustment and capital gain/(loss) to reflect private use of the asset.  Notional calculations are also shown for use in client accounting if applicable.

You can use this workbook to calculate the required figures when preparing a client’s tax return should your software not perform these calculations.  You can also use the workbook before the financial year has ended to advise your client on the tax implications of disposing of the asset.

Calculations/2018 & 2019

This handy calculator will allow you to enter a set of values to calculate the total value and relative proportion of each component and enter an amount for apportionment.  Examples of how this workbook could be used include –

• Calculate the amount of land tax for each property included in a single assessment for multiple properties; and
• Calculate the deduction for home office (place of business) expenses based on floor areas used for business and private purposes.

Calculations/Financial/Apportion by Value

The Fair Work Ombudsman’s (FWO) new Small Business Showcase is a virtual hub containing a wealth of tools and resources to help you meet your workplace responsibilities.

The Showcase helps you understand and deal with key workplace issues like hiring, minimum wages and keeping accurate records.

It also includes:

• short instructional videos on how to use their tools and resources
• an interactive checklist to check your knowledge of key workplace concepts
• online polls so you can share your insights and opinions on key workplace issues.

Library/W

Calculate the charge-out rate for a small business service provider.

Calculations/Budgets & Projections/Charge-out Rate Calculator

Calculate the revenue required from either the sale of goods or services to break even.  Features include –

• Enter gross profit ratio and fixed costs to an expandable table to calculate sales or fees required to break even;
• Enter the average sale amount to calculate the number of sales required to break even;
• Enter the average hourly charge-out rate to calculate the number of hours to charge to break even;
• Enter desired profit to calculate revenue and the number of sales or billed hours to achieve that profit; and
• Enter notes about your calculations.

Calculations/Budgets & Projections/Break-even Analysis

Estimate the quarterly PAYG instalment amount or rate for a variation for an individual.  Prepare up to 4 variations for a client and retain a full record of their PAYG instalment variations in the one file.  Features include –

• Estimate gross income and deductions related thereto for each category of income.
• Account for reconciliation items on the return to convert profit to taxable income.
• Enter details of student debts (HELP, TSL, SFSS) for automatic calculation of repayments.
• Estimate income tax, medicare levy and medicare levy surcharge on taxable income and account for tax offsets and other credits.
• Automatic calculation of PAYG withholding on wages entered.
• Separate “Projections” worksheet to allow estimates of income and expenses for any category of income.

Calculations/2018/PAYGI – Vary Individual Quarterly

This handy calculator will allow you to enter a date range and compare excluded periods within that range with the full period, giving total days, excluded days and percentage thereof and enter an amount for apportionment.  Examples of how this workbook could be used include –

• Calculate days that a rental property was used for private purposes to apportion expenses;
• Calculate days that a company vehicle was available for private use by an employee for FBT purposes;
• Calculate days a main residence was used for income producing purposes for CGT calculations; and
• Calculate days travelling on business to apportion expenses between business and private.

Calculations/Financial Calculations/Apportion by Date

Fringe benefits tax calculations, letters and forms for 2018 are now available on our site.

Use this workbook to help your clients plan for their retirement by projecting growth in their investments and superannuation balances to determine whether the accumulated funds will provide them with a comfortable retirement.  See more information at the workbook page and Calculations/About Each Workbook.

Calculations/Budgets & Projections/Retirement Planner

The 2017 version of this calculation (now shown under Calculations/2017) has been updated to include the latest benchmarks released by the ATO on 21 February 2018 from 2016 returns.

Calculations/2017/Benchmarks (or Small Business Benchmarks)