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EASE Business Services

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25.01.2022 There is so much to keep up with in terms of Government support. I thought people may be interested in this article confirming if you haven't lodged your 2019 tax return or a recent BAS you will still be able to claim the PAYG cashboost. Fingers crossed the ATO reaches the same conclusion for JobKeeper payments soon!

23.01.2022 If you’re up for some baking this afternoon check this out - Nico is the best!

23.01.2022 A great article written by Drew Streitberg for R U Okay Day? https://www.linkedin.com//r-u-ok-2020-same-different-drew/

22.01.2022 EASE has recently moved to using HelloSign for their document e-signing requirements outside of what we already use with Xero tax software. What do you use in your business for e-signing situations? What are your likes and dislikes for this type of tool?

22.01.2022 More good news for WA

22.01.2022 Innovation at its finest. Everything starts with a thought and then action.

21.01.2022 Cash flow boosts have started to be delivered to eligible business and not-for-profit organisations. If you’re looking to access the boost for your business, y...ou’ll need to make sure you lodge your March 2020 monthly or quarterly activity statement. For full details on eligibility criteria and how the boosts will be delivered, visit www.ato.gov.au//In-detail/Boosting-cash-flow-for-employers/

21.01.2022 Are you aware of the importance of issuing a Fairwork statement to your employees? This is a step that is sometimes missed by small business who do not have HR expertise to guide them, and it can have expensive consequences ... you can learn more by visiting Fairwork website. https://www.fairwork.gov.au//fair-work-information-stateme

21.01.2022 The construction industry plays an important role in Western Australia and employs thousands of people across a range of trades. We want to make sure we do eve...rything we can to ensure jobs are maintained and our construction workforce is ready to assist with the post COVID-19 economic recovery. So today, we've announced a $24.5 million support package to assist the building and construction industry to maintain a skilled workforce during the COVID-19 crisis. The package includes $10 million to provide an immediate, one-off payment of $2,000 to employers of existing apprentices and trainees currently receiving Construction Training Fund (CTF) grant payments. A new grants scheme worth $9.5 million will be introduced to assist employers to retain their existing apprentices, with payments beginning from 1 June this year, backdated from 1 April 2020. The payments will range from $250 per month to $500 per month, per apprentice or trainee, depending on the trades facing the most critical skills shortages in the industry. Additionally, apprentices and trainees employed in the industry can claim up to $1,000 to support the costs of undertaking short courses to assist them in upskilling. This package will help to ensure that workers undertaking an apprenticeship and traineeship are able to continue through this difficult period.

20.01.2022 Are you on top of JobKeeper and claiming correctly? Contact us for a chat if you’re not sure

20.01.2022 As an accountant I couldn't help but recognise this situation from the Barefoot Investor blog this week. Unfortunately clients often seem to contact us after taking actions rather than before. Take note and don't end up like these brothers - talk to us first!

20.01.2022 The 31st of October is the last day you can file your own tax return. To avoid late lodgement penalties be sure you file by this date or be on our lodgement list before COB on the 31st. Tax Agents get an extension to file until 15th May 2021. If you would like to know more about this plus other interesting tips, join our private Facebook group? https://www.facebook.com/groups/642984072563046

19.01.2022 Know the three golden rules ....

18.01.2022 Single Touch Payroll began in earnest on 1 July 2019 so we've recently completed our first financial year of this new way of reporting wages. In the past PAYG Summaries were issued to all employees, and due to the transition of the STP, this is no longer required. Now all details are provided electronically once you have filed the STP Finalisation. Your staff are not able to file their tax returns until this step has been completed and once it has, they will be able to access this information either from MyGov or via a Tax Agent. The last day to file is 31st July, 2020. If you need any help, please reach out.

17.01.2022 Cash flow Boost and Job Keeper assistance have now started to flow. Now, more then ever, it is so important you create a financial plan, have a budget ready or a three-month forecast on hand. Restrictions are being eased, but we are still in unknown territory. Do you need help with this? Please reach out, we're here to help.

17.01.2022 Without the appropriate substantiation, you could be missing out on a significant deduction when you use your car for business. Having a vehicle logbook would maximise your deductions and you only need to do one every five years. Take the time to keep track of your travel for business purposes, keep good receipts and you'll thank us later, especially if you were selected for an ATO review. We share more tips inside our private Facebook group, you can request entry by clicking on this link https://www.facebook.com/groups/642984072563046

15.01.2022 How to customise a report layout in Xero. This is a simple task and you can edit them to suit you and your business. Please subscribe to our FB page or YouTube channel where will share more helpful information to help you move into the digital business era.

15.01.2022 JobKeeper payment extension key points From 28 September 2020 to 3 January 2021, the JobKeeper payment rates will be: $1,200 per fortnight for all eligible employees who, in the four weeks of pay periods before 1 March 2020, were working in the business or not-for-profit for 20 hours or more a week on average, and for eligible business participants who were actively engaged in the business for 20 hours or more per week on average in the month of February 2020; and... $750 per fortnight for other eligible employees and business participants. From 4 January 2021 to 28 March 2021, the JobKeeper rates will be: $1,000 per fortnight for all eligible employees who, in the four weeks of pay periods before 1 March 2020, were working in the business or not-for-profit for 20 hours or more a week on average and for business participants who were actively engaged in the business for 20 hours or more per week on average in the month of February 2020; $650 per fortnight for other eligible employees and business participants Eligibility Eligibility will continue to be based on 30%, 50% or 15% (depending on business size and if a charity) reduction in the turnover test. These tests will remain the same but will need to be re-applied at the end of September 2020 and again at the start of January 2021. Employers will need to demonstrate they have met the relevant turnover decline in both the June and September 2020 quarters to be eligible for JobKeeper in the December 2020 quarter. Employers will need to demonstrate they have met the relevant decline in each of the previous three quarters ending on 31 December 2020 to remain eligible in the March quarter in 2021. Read more details of the JobKeeper extension here https://treasury.gov.au/coronavirus/jobkeeper

13.01.2022 Many businesses have been impacted by the recent COVID-19 virus and the Government announced a cash flow boost for those businesses who employ staff. This will be processed via the ATO and will be credited to your Integrated client account once you have filed your BAS and after 28th April, 2020. How much you receive depends on the PAYGW withheld during the month of March or Jan to March Quarter, and a minimum payment of $10,000 can be expected. Please note, this will not... be deposited into your bank account, but rather your existing liability will be reduced by this cash flow boost. If the boost turns out to be more than your payable, then you will be able to apply to have this credited to your biz bank account or you just need to pay the difference. If unsure, reach out to us. We're here to help. #atostimulus #cashflowboost #lotsofinformation #seekhelp #easebusinessservices See more

10.01.2022 With so much uncertainty surrounding us right now - when should you speak to your accountant - this blog may answer a few questions. https://easebusinessservices.com.au/when-should-i-reach-ou/

10.01.2022 Definitely not complaining about having a client meeting at this beautiful venue this morning

09.01.2022 Do you have old outstanding Superannuation which has not been paid? There is an amnesty currently available to assist with meeting these obligations. You can even organise a payment plan if your cashflow doesn't allow for it to be paid in full? Read the example and then take action if this applies to your business - Dont be Ben! Example: Failure to disclose during SG amnesty Ben owns a salon employing five staff. He sometimes has difficulty paying his employees their SG e...ntitlements. Ben hears about the SG amnesty, but decides he doesn’t have time to work out what he hasn’t paid and will sort it out later. The ATO uses payment data available from super funds and identifies that Ben hasn’t met his SG obligations for all four quarters in 2017. On 14 October 2020 Ben receives a letter from the ATO telling him they have commenced an audit. They request evidence of super payment for the quarters identified. Ben goes through his records and discovers he has an SG shortfall. The total SGC payable is $12,800, which includes the SG shortfall, interest and administration component. Ben remembers the amnesty and phones the ATO to see if he is eligible. The ATO tells him that the amnesty ended on 7 September 2020. Because Ben didn’t disclose the shortfall during the amnesty period, he has to pay the full SGC amount of $12,800, this includes $400 for the administration component (five staff $20 four quarters). The ATO also applies the minimum Part 7 penalty of 100% after remitting it from 200%, adding a further $12,800. The total amount Ben owes the ATO is $25,600. Ben cannot claim a tax deduction for the SGC of $12,800 or the additional penalty of $12,800. If Ben had reviewed his records and disclosed the underpayments within the amnesty period he would not have incurred the $12,800 penalty and would have avoided the $400 administration component. In addition, he would have been able to claim a tax deduction for the SGC paid before 7 September 2020.

09.01.2022 It fun facts Friday, so let's see if we can stretch our grey matter ...here are 5 Trivia question, leave your answers below and we'll post the solutions later this afternoon.

08.01.2022 Here are a few simple tips on how you can save your business from being the victim of identity crime: - Create unique passwords which are difficult for others to guess, and change them regularly. - Never share your passwords with anyone. - Use multi-factor identification where possible, such as using SMS codes as your sign-in option for myGov.... - Keep your business and personal software up-to-date, and run regular checks on your hardware to ensure you don't have viruses or spam. - Regularly review staff accesses, and remove any that are no longer needed. - Always exercise caution when clicking on links or downloading attachments. If something doesn't seem right - don’t risk it. Source - ATO Small Business Newroom

05.01.2022 A massive congratulations to David Airey awarded Queens Honour- Member (AM) of the Order of Australia for significant service to the real estate industry, and to professional institutes. Well deserved, very happy for your recognition for contributions to Real Estate Industry. From all at Team EASE.

03.01.2022 Changes to JobKeeper mean new employees since 1 March and with you by 1 July may now be eligible from August onwards. You need to have a nomination form in place with them by Monday 24th August and have until the end of the month to ensure wages paid cover the amount. Contact us if you'd like our help https://www.ato.gov.au//Employers/Your-eligible-employees/

02.01.2022 Are you a sole trader, in a partnership, trust, or company, and wondering how the JobKeeper payment can help you? You’ll need to check if you or your business i...s eligible at www.ato.gov.au//JobKeeper/Sole-traders-and-other-entities/ If you meet the requirements, you can start preparing now by: Subscribing to updates on JobKeeper payment Seeking advice from your registered tax agent Getting ready to enrol from 20 April 2020. There's no need to call us, we’ll let you know when you can enrol and apply.

02.01.2022 The team are sad to learn one of our clients family’s are having a particular tough time leading up to Christmas. If you’re able please support this worthy cause to help Casey and the family

02.01.2022 Today is the final day to pay SGC and this is one payment you do not want to miss. Penalties are imposed and the loss of a tax deduction so please remember.

01.01.2022 Jobkeeper Round 2 - it's a little bit complicated.