Adept Training Analysis Pty Ltd in Box Hill, Victoria | Business service

Adept Training Analysis Pty Ltd

Locality: Box Hill, Victoria

Phone: +61 3 8802 1893

Address: PO Box 1018 3128 Box Hill, VIC, Australia

Website: http://adepttax.com/

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25.01.2022 Remind your employer clients who started reporting through Single Touch Payroll (STP) this financial year to tell their employees they will not provide them with a payment summary for data reported and finalised through STP. They should also advise their employees they can access their income statement from their tax agent or in ATO online via myGov, and to wait until their information is marked as ‘Tax-ready’ before they lodge their tax return to ensure their information is correct.

24.01.2022 If your employer clients have experienced a decline in turnover and plan to enrol for the JobKeeper Payment to claim payments for June, they need to enrol and identify their eligible employees by midnight 30 June and make a monthly business declaration between 114 July. For help watch the ATO video on how to enrol for JobKeeper, or visit ato.gov.au/jobkeeper.

23.01.2022 Last week, the ATO published a gazette notice informing that it would now acquire data from Services Australia, formerly the Department of Human Services, to verify individuals’ eligibility criteria for JobKeeper payments, temporary early access to superannuation and temporary cash-flow boost. Data for 3 million Australians are expected to be used for the data-matching program, running from 19 April to 24 September. Big brother is cracking down and watching.

21.01.2022 We recently held a webinar on JobKeeper 2.0. There were many enquiries around this issue and we are pleased to provide the answers to these questions. https://www.taxandsuperaustralia.com.au//JobKeeper_Package

21.01.2022 New regulations set out the requirements in relation to the SG responsibilities of employers receiving JobKeeper, and seek to make sure employers are not subject to additional SG obligations as a result of participation in the scheme.

20.01.2022 ATO has also announced work-related expenses deductions that it will be paying close attention to this year, in light of COVID-19. With more people working from home, working reduced hours or unfortunately not working at all, we expect to see claims for laundry expenses or travel expenses decline this year, Ms Foat said. If you aren’t travelling for work, you can’t claim travel expenses. If you aren’t wearing your work uniform, you can’t claim laundry expenses.... You must still meet the three golden rules: you must have spent the money and not have been reimbursed, it must relate directly to earning your income, and you must have a record to prove it. ATO also expects to see a substantial increase in people claiming deductions for working from home as a result of COVID-19 restrictions. New shortcut method has been introduced by the ATO for taxpayers to calculate home office expenses at a rate of 80 cents per hour for the period between 1 March and 30 June 2020. The new method is in addition to the existing fixed-rate method and actual-cost method, with taxpayers able to choose the appropriate method for their circumstances. For claims before 1 March 2020 you must use the two previous approaches.

20.01.2022 The practical compliance guideline that was issued relatively recently, PCG 2020/3, covers working from home and incurring additional running expenses in relation to their income-producing activities during the COVID-19 pandemic. As the COVID-19 pandemic continues to affect the community and there will be an impact on some taxpayers’ working arrangements after 30 June 2020, the ATO has now announced that the date of effect of this guideline has been extended. The PCG now appl...ies from 1 March 2020 to 30 September 2020 and allows taxpayers still working from home to continue using the simplified method referred to as the shortcut method to claim their additional running expenses. The ATO states that there is also the option to extend the PCG application further, depending on circumstances. Additional running expenses include lighting, heating, cooling and cleaning costs, electricity for electronic items used for work, the decline in value and repair of home office items such as furniture and furnishings in the area used for work, phone and internet expenses, computer consumables, stationery and the decline in value of a computer, laptop or similar device. Clients should still be reminded that occupancy expenses relating to a home such as rent, mortgage interest, property insurance and land taxes will not become deductible only because they are required to work from home temporarily as a consequence of COVID-19. Clients who wish to rely on the shortcut rate to calculate their additional running expenses will need to keep a record of the hours they have worked at home. This could be in the form of timesheets, rosters, a diary or similar document that sets out the dates and hours worked. As with claims for the 2019-20 income year, a notation stating COVID-hourly rate will need to be placed next to their deduction for home office expenses in the eventual 2020-21 return.

16.01.2022 On 21 July, the government announced that the JobKeeper Payment will be extended until 28 March 2021. Changes to eligibility requirements and payment rates will apply from 28 September 2020. If your clients are receiving JobKeeper payments there is nothing they need to change right now. We are working through the details of these announced changes. For more information, visit ato.gov.au/JobKeeper.

08.01.2022 Your clients and their partners may need to lodge their 2019 tax return by 30 June 2020 to make sure they do not miss out on family assistance payments. Lodgment deferrals do not alter this requirement.

06.01.2022 A bill that was re-introduced after lapsing with the last federal election has just been passed by the Senate. This provides for a unique identifier number that will provide traceability of a director’s relationships across companies.

06.01.2022 From 11.59pm on 1 July, ten Melbourne metropolitan postcodes moved to Stage 3 Stay at Home restrictions to help slow the spread of coronavirus (COVID-19). Businesses operating within a postcode affected by the return to Stage 3 restrictions may be eligible for a one-off, $5,000 grant through the Local Lockdowns Business Support Program. Register to receive a notification when applications open shortly. Please read the information on the grant page carefully to determine your eligibility before registering.

04.01.2022 Jobkeeper 2.0 The eligibility changes, which will apply nationwide from 28 September, will now require businesses to show the requisite actual decline in turnover for the September quarter alone, rather than for both the June and September quarters as previously announced. Likewise, from 4 January 2021, businesses will only need to demonstrate a decline in turnover for the December 2020 quarter, rather than each of the June, September and December quarters. here will also be a change for the start date for employees, with those hired as of 1 July to be eligible for JobKeeper 2.0 from 3 August.

04.01.2022 ATO deputy commissioner Karen Foat has urged taxpayers to hold off from lodging until all their income details have been finalised. ATO often see people too eager to get a tax refund making obvious mistakes, which can either delay processing the tax return or result in a bill later on, Ms Foat said. With Single Touch Payroll now live for all businesses, apart from closely held payees, employers with 20 or more employees will have until 14 July 2020 to make a finalisation declaration, while employers with 19 or fewer employees will have until 31 July 2020.