Advali Accountants in South Perth, Western Australia | Accountant

Advali Accountants

Locality: South Perth, Western Australia

Phone: +61 8 6113 9846

Address: South Perth Mill Centre, 9 Bowman St 6151 South Perth, WA, Australia

Website: https://advali-accountants.indemand.ly/

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• Tax preparation service
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• Financial service

20.01.2022 *** UPDATE: we are back in the office*** An update from Advali Accountants In line with the West Australian Government's advice, the Advali team has decided it is best to work from home for the 5-day lockdown period (or until further notice). ... We are still contactable on the office line and by email. Any in-person meetings will be held via video conference until further notice. Other than that it is pretty much work as usual. We appreciate your patience and understanding during this time. Best wishes from the entire Advali team.

18.01.2022 Unlimited Instant Asset Write-off (IAWO) An amendment to the 2020 Federal Budget means businesses with a turnover of less than $10M accessing the small business depreciation rules* may be entitled to unlimited full expensing of depreciating assets. This allows businesses to claim a tax deduction for the full value of a purchase after its use, rather than claim depreciation amounts over several years. According to the NTAA, ...the current SBE IAWO rules have been modified ...... to allow for the full expensing of the taxable purpose portion of depreciating assets irrespective of their cost where such assets: started to be held (e.g., acquired); and were first used (or installed ready for use) for a taxable purpose.** *Those businesses that have chosen to use the simplified SBE depreciation in Subdivision 328-D. **The IAWO threshold has been removed for eligible assets first held (e.g., acquired) and first used (or installed ready for use) from 7:30pm (legal time in the ACT) on 6 October 2020 to 30 June 2022. Refer to S.328-181(2) of the ITTPA. This full expensing applies to both first and second element costs incurred during the relevant time periods. Source: 2020 Tax Hot Spots II Liability limited by a scheme approved under Professional Standards Legislation.

15.01.2022 If you've missed or underpaid your super lately, to meet your obligations you must lodge a Superannuation guarantee charge statement to the ATO by the 1st of March 2021, even if you can't pay in full. This will ensure you avoid penalties - and you can also set up a payment plan to pay the amount owing.

12.01.2022 What's new in the world of Xero? Here's a recap of some of the updates from the latest quarterly update. - The Xero bank reconciliation process has been improved, with less suggested matches and more ready to reconcile transactions. - New integration with the PayPal Commerce Platform means users will have to have or upgrade to a free business account and verify it before accepting payments. - When you create invoices, Xero will prompt you with any available credit to apply t...o the invoice. - Hubdoc now has a duplicate document alert when you email or manually upload a document. - Both iOS & Android now have faster receipt analysis and PDF upload available on the app, so the data on your receipts can be extracted for you! You can see the full list of updates here: https://advaliaccountants.com.au//xero-product-update-q1-2

11.01.2022 From 1 February 2021 the registrations for JobMaker opened. You can now log into your portal and access the registration section in the COVID-19 area. Note you cannot receive the JobMaker Hiring Credits if you also receive a JobKeeper payment for a fortnight which started during the JobMaker period (7 October 2020 - 6 October 2021). To complete the registration, you will need to provide your baseline employee headcount as at 30 September 2020, and your baseline payroll amoun...t. You will also need to use Single Touch Payroll (STP) software to submit details about your employees, including those that you have newly hired. Some important information to consider: - The aim of the scheme is to support new employment. Employers do not need to satisfy a fall in turnover test. - The employee must be in an additional job created from 7 October 2020. To demonstrate that the job is additional, specific criteria must be met (links below with more information). - To be an eligible employee, the employee must be aged either 16 to 29 years old to attract the payment of $200 per week; or 30 to 35 years old to attract the payment of $100 per week at the time their employment started. They must have also worked or been paid for at least 20 paid hours per week on average for the time the individual was employed during the JobMaker period. They also must have received the JobSeeker Payment, Youth Allowance (Other), or Parenting Payment for at least 28 consecutive days within the 84 days prior to starting employment and be in their first year of employment with this employer. - Employees may be employed on a permanent, casual or fixedterm basis. Please refer to the sources below for more detailed information. There are a number of conditions in addition to those mentioned above that must be satisfied. If you have any questions, it's always best to contact your accountant. _____________ Sources: ATO website and the Federal Budget 2020-21 Fact Sheet. https://www.ato.gov.au//In-/JobMaker-Hiring-Credit-guide/ https://budget.gov.au//content/factsheets/hiring-credit.htm