Advance Accounting Services in Horsham, Victoria | Financial service

Advance Accounting Services

Locality: Horsham, Victoria

Phone: +61 3 5381 1911

Address: 84 Wilson St 3400 Horsham, VIC, Australia

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

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• Tax preparation service
• Accountant
• Financial service

20.01.2022 Hi Everyone Sole Trader Support Fund (STSF) Further to our post last week we advise that details of the Grant have now been released.... The STSF provides a grant of $ 3000 to eligible sole traders. It is specifically for those that are trading as an individual so those trading using Companies, Partnerships or Trusts will not be eligible based on this criteria. Again, eligible businesses are first based on the particular ANZIC code for your business. You should check the below link to see if your business is an included industry before proceeding further. https://www.business.vic.gov.au//List-of-Eligible-ANZSIC-c Standard Eligibility Criteria To be eligible for the Fund, businesses must: a) Operate a business located within Victoria1; and b) Be a sole trader with no employees; and c) Operate from a commercial premises or location (residential premises are not eligible) for at least six months as a: i. tenant or ii. licensee or iii. owner/occupier of fixed commercial premises or iv. operator of a registered ‘mobile food premises’ with a permit or commercial agreement to operate at specific location(s); and d) Be registered as operating in an industry sector that has an industry restriction level of Restricted, Heavily restricted or Closed and is not easing industry restriction levels between the First Step and Second Step of Victoria’s roadmap for reopening and e) Be an ‘eligible business participant’ in the Commonwealth Government’s JobKeeper Payment scheme5; and f) Be registered for Goods and Services Tax (GST) on 14 September 2020; and g) Hold an ABN registered in the business category of ‘individual’ and have held that ABN at 14 September 2020. All these conditions need to be met to qualify so if you need any assistance please don’t hesitate to contact us for further direction. Best Regards The Team at AAS

19.01.2022 Urgent JobKeeper action required The Government has amended JobKeeper rules which captures more Employees entitled to receive JobKeeper payments to keep them in work. The changes to the Eligible Employee test will now allow businesses to reassess their Employee’s eligibility for the JobKeeper payments as at the new test date of 1 July 2020 (formally 1 March 2020)... This may result in employees qualifying who have not previously done so. This would include new Employees, long-term casuals meeting the new test period of 2 July 2019 to 1 July 2020 or Employee’s that have changed their employment status (eg casual became Part/Full Time) These changes will also allow an Employee to re-nominate with a new Employer which they were previously not allowed to do. The good news is - those Employees can participate in JobKeeper Payments backdated to 3 August 2020. The bad news is - that to qualify for the 2 JobKeeper fortnights of August, the Employer must nominate the Employee by 31 August 2020. If any of the above apply to you as an Employer or Employee then you need to Act Immediately and get that nomination signed. Just click on the below link to download the new Nomination form. https://www.ato.gov.au/workarea/downloadasset.aspx?id=63427 Employers that nominate new Eligible Employees will need to ensure they have paid them the full $3,000 for the fortnights commencing 3 August and 17 August by 31 August 2020 to be entitled to receive the reimbursement from the Federal Government. If you are unsure if this situation applies to you, then it would be worth your while to contact us to discuss your options further. Best Regards The Team at AAS

11.01.2022 Hi Everyone Just a quick update on business support opportunities that are being announced as the Business Resilience Package by the Victorian State Government which you need to check out quickly. A third round of Business Support Funding opened on Friday allowing eligible businesses to apply for grants of a minimum of $ 10000 depending on the level of the business annual payroll. Here is a extensive list of Business types with approved ANZIC codes that are eligible to apply.... Part of the eligibility criteria is that your business must be an Employer currently receiving JobKeeper payments on behalf of Employee’s. When making your application you will need details of your Workcover employer number, JobKeeper ID, provide Annual Turnover for your business for 2019-20 as well as other business details but it is well worth the time and effort to complete this. This will only be open until 23 November OR when the funds are exhausted so don’t dilly dally. Shortly the Sole Trader Support Fund Grant will be opened for those that don’t employ staff. You will need to monitor the release so we have included a link for you to keep checking in on further details for eligibility for this. This will provide a Grant of $ 3000 to sole traders in affected sectors. Also coming shortly is a Licensed Hospitality Venue Fund. These will provide a range of grants depending on patron capacity and location. Again, a full list of eligibility criteria is not yet available. So keep an eye on the following link for further details of this grant. On the same Business Victoria site there are other grants listed which are a little more obscure, but they may well suit your businesses needs so it is worth a read. Of course, if you need any assistance on these or any other matters please don’t hesitate to contact us to discuss your particular situation Best Regards The Team at AAS

08.01.2022 Hi Everyone Due to ongoing inquiries from our clients we thought it opportune to give you a quick update of our office procedures under a Covid Normal environment as it exists now. Because we can work from home, it is a requirement that we do so. Some of us are still doing so, at least on a part time basis anyway, but we are in the office more often than in past months. We still maintain our preference for Electronic or Phone meetings if it is convenient for you. As you ...are aware, we have had to do this for the past 6 months and it has been a popular positive outcome of the Covid Lockdown amongst many of our clients. So, we are keeping this option open to all clients going forward. However, we also appreciate that sometimes it is too hard to go through your requirements over the phone etc. So we are pleased to advise that Advance Accountings Services office is now available for in-office appointments if you require them but there are some basic rules attached. Ideally each appointment will be for 1 person attending the office at any given time so we can maintain our cleaning regime and compliance with social distancing regulations. If you need to have 2 or 3 attendees, we can accommodate this in our boardroom. But we only have 1 Boardroom, so availability is subject to prior bookings. Appointments for more than 3 attendees is not available. The office doors will still be closed to the public for walk up access. You can still attend the office to drop off or pick up any information as we have done for the past 8 months. Just knock on the front door and someone (usually Fran) will open up and greet you. To come into the office, you will need to be wearing a face mask, sanitise and sign in for entry. It would be convenient if you’re coming in without an appointment to just to give the office a quick ring to let us know, so you’re not left standing in the street waiting for access to the building. Hopefully in the next few weeks the Government will be able to relax these requirements further All the best for now. The Team at AAS See more

04.01.2022 Hi Everyone You may or may not have been contacted by the ATO if you use the Small Business Superannuation Clearing House (SBSCH) to pay your super guarantee (SG) payments. If you use SBSCH and have not heard the clearing house will be unavailable at the time of the due date which is 28 October 2020... They have advised to allow for normal processing and this outage, your SG payments and instructions should be received by 23 October 2020 so they can be received by the Superannuation funds on the due date. We have put up previous posts regarding the time lag in processing payments and the risk of your SG payments not being processed on time by the SBSCH under normal circumstances. If you have a due date for SG we suggest you always do it 5 days earlier to avoid the risk of slow processing and thereby loss of deduction and administration charges for these contributions. Better to do this, than try to go through the arguments of when it was sent/received/processed by the ATO which is a few days before getting to the Superannuation Fund which will fall on mute ears. The Team at AAS