Liberty Accounting And Taxation in Bankstown, New South Wales | Business consultant

Liberty Accounting And Taxation

Locality: Bankstown, New South Wales

Phone: +61 405 600 976

Address: suite 302F, Level 3, 58 Kitchener Parade 2200 Bankstown, NSW, Australia

Website: http://www.libertyaccountingandtacation.com.au/

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• Business service
• Tax preparation service
• Business consultant

25.01.2022 Currently attending an accountants seminar. The ATO is coming down hard on work related expenses. To claim any work related expenses you must have incurred the expense, it must be purely work related, this means that with out this expense you are unable to do your work and will not get paid. If you make a choice to buy an item to make things easier for your work, then this is not claimable. If you feel that shopping around for accountants that will help you with deductions then be aware that the tax office is going after tax agents and auditing them as well. If tax agents claim items for you that is not deductible then the tax agent will lose his registration. Will no longer be able to practice as a tax agent.

25.01.2022 About Single Touch Payroll STP works by sending tax and super information from your payroll or accounting software to the ATO as you run your payroll. When you start reporting:... you will run your payroll, pay your employees as normal, and give them a payslip your pay cycle does not need to change (you can continue to pay your employees weekly, fortnightly or monthly) your STP-enabled payroll software will send us a report which includes the information we need from you, such as salaries and wages, pay as you go (PAYG) withholding and super information see our employer reporting guidelines for a full list of payments that must be reported through STP. You will be reporting super liability information through STP for the first time. Super funds will also be reporting to us. Theyll let us know when you make the payment to your employees chosen or default fund. This is an important step toward making sure employees are paid their correct entitlements. The way STP information is sent will depend on the software you use. STP reporting will be offered in one of the following ways with: an end-to-end solution, which allows you to run your payroll and send the STP information directly to us from your software a solution which allows you to run your payroll and send the STP information through a third party sending service provider (SSP) which is integrated into your software a solution that allows you to run your payroll and requires you to send the STP information through a third party sending service provider (SSP) outside your software. ATO systems will match the STP information to our employer and employee records. Your employees will be able to see their year-to-date tax and super information in ATO online services, which can only be accessed through myGov. Their data is updated every time you report (each pay day for most employers). Without STP reporting, employee data is only reported at the end of the financial year. If you make mistakes in your STP report, you can correct it in your following report. We wont penalise you for making mistakes you correct. At the end of the financial year, youll need to finalise your STP data. This is a declaration to the Commissioner to state you have completed your reporting for the financial year. You will no longer have to give your employees a payment summary for the information youve reported and finalised through STP. Once you finalise your data, your employees or their registered agent will be able to lodge their income tax return using the STP information available in ATO online/ You will no longer need to provide us with a payment summary annual report (PSAR) at the end of the financial year for the payments you report through STP. From 2020 we will pre-fill activity statement labels W1 and W2 for small and medium withholders with the information you report to us through STP. If you currently lodge an activity statement you will continue to do so.

24.01.2022 Its like a sport: Tax agents face hot water over clients claiming Emma Koehn By Emma Koehn June 18, 2019 Tax professionals say they face continued pressure from clients to put in dodgy expenses while the Australian Taxation Office says it will take strong action against tax professionals who exhibit unprofessional conduct at tax time....Continue reading

14.01.2022 We at Liberty Accounting And Taxation provide exceptional customer service. We are a business advisory firm focused on helping businesses with tax planning and continued advise throughout the financial year. We are registered with the institute of public accountants and are registered with CPA. We will continue to strive to always provide the services that our clients need.

14.01.2022 'It's like a sport': Tax agents face hot water over clients' claiming Emma Koehn By Emma Koehn June 18, 2019 Tax professionals say they face continued pressure from clients to put in dodgy expenses while the Australian Taxation Office says it will take strong action against tax professionals who exhibit unprofessional conduct at tax time....Continue reading

11.01.2022 Over the coming months we are increasing our focus on the bulk Australian business number (ABN) cancellation program, to continue to ensure the integrity of the Australian Business Register. We have refined our models to help us identify businesses that are no longer active or have forgotten to cancel their ABN when they ceased business. Things we look... for include ABN holders that: have stopped reporting business income or expenses provide us with no other indications they may be in business. We exclude those we know are renting out property, or are receiving income elsewhere. If we cancel your clients ABN as part of this bulk cancellation process and they need it in the future, they can easily reapply and will receive the same ABN if the business structure is the same. See more

07.01.2022 Tax changes for businesses Changes to company tax rates for base rate entity companies with a turnover of less than $50 million per annum. These companies will move to a 25% tax rate by 202122. An increase in the rate of the tax discount for unincorporated small businesses with a turnover of less than $5 million (also known as the small business income tax offset).... Simpler depreciation for small business, including the $20,000 instant asset write-off threshold, currently available until 30 June 2019. The increase to the small business turnover threshold from $2 million to $10 million per annum, which has extended access to a range of turnover-based tax concessions.

07.01.2022 Tax Agents and Accountants-Business Advisory Service 24/7, Tax Planning, Business Activity Statements, Company Tax Returns and Financials-From only $2250

05.01.2022 As of the 1st of July 2019, Single Touch Payroll (STP) will become legislation, meaning Companies with employees must report the employee payslip direct to the ATO. Small to medium companies must adopt Software which will accommodate this legislation. We at Liberty Accounting and Taxation are able to supply these services at $20 per month plus bookkeeping fees We are very competitive and mobile... Call on 0405 600 976

02.01.2022 Welcome to Liberty Accounting And Taxation. we are a firm which provide Business Advisory Services for Small to Medium companies, Our annual Fees starts from $2250-This includes Quarterly Business Activity Statements, End of Year Financials and Company Tax Return, Tax Planning, Business Advice throughout the year available 24/7 via email or phone