Another tranche of assistance packages was announced last night, the main points are summarised below For employers The BAS credits have been doubled re PAYG salary tax – I have updated the prior post to reflect the new percentages Small and medium business THAT EMPLOY SOMEONE will receive between $20k and $100k in additional cash… Read More Further Covid assistance
Announced today, but yet to be passed, are the following proposals ……. Provide a one-off tax free $750 cash payment to income support recipients, such as age pensioners or Department of Veterans’ Affairs (DVA) income recipients, or holders of eligible concession cards. To be eligible, the person must reside in Australia and be receiving a… Read More Stimulus Package
The current market corrections are an excellent example of non-disciplined investors perhaps panicking in a falling market leading to selling low and, presumably at a later date, buying high. This is the absolute opposite of what you are supposed to do in order to make money, i.e. buy low, sell high. In fact what would… Read More CoronaVirus
Due to popular demand, the following is a step by step list of how to perform single touch payroll. You may notice the name “thousand touch payroll” might be more apt!… Read More Single Touch Payroll Guide
Well, we seem to have become the Accountant/Hand Rehab clinic recently. Both injuries are animal related. Kerri decided it would be a good idea to stick her hand down her large dog’s throat to stop it from choking – resulting in various nerve and tendon damage. I fell off my horse, who had decided there… Read More Two Hands Make Light Work
Don’t forget that although December BAS are not due until 28th February, those of you with employees need to pay their super for the December quarter this week. Lindsay
Claim concessional super contributions as a tax deduction. As was the case last year, it may be possible for you to claim some super contributions as a tax deduction. This will be a useful strategy if ……. You forgot to salary sacrifice or did not sacrifice as much as you could, or You have a… Read More 2019 Tax Tip : Tax Deductible Super
Here is hoping you all had a lovely Easter and ate lots of chocolate, but for some, unfortunately this time of year is not all beer and skittles. It is also the time for what can appear to be a never ending stream of payments to our friends at the ATO. So what is going… Read More Easter means tax bills
Those of you with an SMSF where at least one member has a balance of more than $1m, need to be aware that there are several events that now need to be reported to the ATO in real time – ie not after the end of the year when we are preparing your tax returns.… Read More SMSF real time reporting
The last week has seen a drop in the markets which can be a testing time for the uneducated investor. The temptation is to sell as markets fall (as it’s all a bit scary), and conversely to buy when markets are going up (as everyone else is doing it and it feels good). However selling… Read More Don’t be a lemming
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