Last night the Treasurer presented hi budget. I set out below the major changes. Personal Taxes The Government has announced that it will bring forward changes to the personal income tax rates that were due to apply from 1 July 2022, so that these changes now apply from 1 July 2020 (i.e., from the 2021 [...]

JobKeeper has been extended for two further periods, the quarter ending December 2020 and the quarter ending March 2021. Whilst the extension had been announced in July the supporting legislation has now been registered.Enrolment in JobKeeper 2 is available to businesses already receiving JobKeeper and new entrants. However, to qualify for JobKeeper 2 all businesses [...]

Employers who employ staff have an obligation to pay superannuation on behalf of their staff at 9.5% of gross wages. This obligation also applies to employers who have “employee/contractors” being subcontractors who basically work only for one employer and are paid on an hourly basis. Many employer fail to keep up with their superannuation obligations [...]

With Victoria reintroducing Stage 4 lockdown we have reviewed ways to assist our valued accounting and financial planning clients.We are fortunate that much of our work can be carried out remotely. We ask our clients to restrain from visiting our office during this lockdown period and telephoning or emailing instead. We can prepare your tax [...]

To our valued accounting and financial planning clients. Our office remains open, however we are practicing strict social distancing & hygiene protocols.Our preferred method of assistance during COVID-19 is by a telephone appointment, which we are successfully conducting this year and we also have other successful alternative options available to assist you with your Tax [...]

Happy New Financial Year to all our accounting and financial planning clients. Jobs for this month: Single Touch payroll finalisation by 31st July Contractor reporting (TPAR) for building, cleaning, courier and IT industries - due 28th August but worth checking you have necessary information such as ABN, address & mobile number Monthly Activity statement due [...]

Today's Blog has nothing to do with accounting. Over the weekend I read an article in The Age written by Zali Steggall, Independent Member for Warringah. She wrote about a members bill she is putting to Parliament on Climate Change. I felt this was the most sensible proposal since Julia Gillard's carbon tax. Ross Garnaut [...]

Quarterly BAS dates for lodgment and payment by businesses is normally the 28th of the following month. However, extra time is allowed for the December BAS which is due for lodgment and payment by 28th February. For taxpayers who lodge through tax and BAS agents the dues dates are 28th two months after quarter end. [...]