Affinitas Accounting in Aspley, Queensland, Australia | Accountant

Affinitas Accounting

Locality: Aspley, Queensland, Australia

Phone: +61 7 3359 5244

Address: Unit 22/1344 Gympie Road 4034 Aspley, QLD, Australia

Website: https://www.affinitasaccounting.com.au/

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25.01.2022 How Jobkeeper 2.0 works An Example Carmen owns and runs the City Café. Carmen started claiming the JobKeeper Payment for her eligible staff and herself as a business participant when the JobKeeper Payment commenced on 30 March 2020. At the time, Carmen estimated that the projected GST turnover for City Café in April 2020 would be 70 per cent below its actual GST turnover in April 2019. ...Continue reading

23.01.2022 Clients Making A Difference In the Community At Affinitas, we admire the contributions made by all our small business clients - but we do help look after some organisations who are giving back to their communities in very special and unique ways. For these organisations and the dedicated teams who run them the desired outcomes go way beyond making money. ... They are about making a positive and lasting difference to their clients and communities. Local Film Company Reaching for the Stars Affinitas Financial Planning clients Bradford Lee Walton and Diana Petrovich provide the creative force and driving energy behind Cleveland Film Company a community based dramatic production company based in Redlands, Queensland. CFC’s first short film 5 Moons of Pluto was released in 2020 to critical acclaim and was shortlisted in film festivals throughout the world. A powerful and visually stunning piece 5 Moons of Pluto was a triumph and testament to the talents of the cast and crew - and the spirit of the Redlands community. Not content to rest on its 2020 laurels, Cleveland Film Company currently has three feature film projects fully developed and ready for production; - Caged Creatures about a lonely and depressed pet shop owner who finds a somewhat unique solution to her dilemma - Kane a tale of horror and evil set in local cane fields - Psycho-Swipe a thriller where some promiscuous teenagers get more than they bargain for when using hook up apps. Cleveland Film Company’s goal is to produce high-end feature films and VOD Series for low to medium range cost. These projects are enabled by quality scripts, budget discipline and accessibility to cost-effective locations and crew in the region. Operating under the motto - Film Local. Screen Global Cleveland Film Company celebrates collaboration and community values. To learn more about Cleveland Film Company and it’s fundraising projects, visit https://www.clevelandfilmcompany.com.au/ Is your business giving back to the community? If so, tell us your story by replying to this post or by sending an email to [email protected]

23.01.2022 Understanding APRA’s Worst Performing Super List The devil is in the detail when it comes to digesting the results of the Australian Prudential Regulation Authority's "worst performing" super list. Anything that gets people more actively involved in understanding and reviewing their superannuation fund is to be commended, But it needs to be understood that the APRA league table was an assessment of the relative performances of MySuper Funds only. ... MySuper Funds act as a default account for people who do not choose their own super fund when they start a new job. According to government legislation, MySuper accounts are designed to be: Simple: With a single diversified investment option or a lifecycle option, depending on the fund, with simple plain English explanations of products and features. Low cost: Like a basic home loan, MySuper funds are very vanilla in nature, with restrictions on the type of fees that can be charged. Easy to compare: MySuper fund dashboards follow a standard format so they can be easily compared. Retail, industry and corporate funds all can offer MySuper options to members in accumulation (pre-retirement) phase. APRA’s inaugural results assessed 76 MySuper funds, with at least five years of performance history, against an objective benchmark. A total of 13 products failed to meet this benchmark. Among the 13 funds deemed failures by APRA were: AMG Super AMG MySuper ASGARD Independence Plan Division Two ASGARD Employee MySuper Australian Catholic Superannuation and Retirement Fund LifetimeOne AvSuper Fund AvSuper Growth (MySuper) BOC Gases Superannuation Fund BOC MySuper Christian Super My Ethical Super Colonial First State FirstChoice Superannuation Trust Commonwealth Bank Group Super Accumulate Plus Balanced Energy Industries Superannuation Scheme Pool A Balanced (MySuper) Labour Union Co-Operative Retirement Fund MySuper Balanced Maritime Super MYSUPER INVESTMENT OPTION Retirement Wrap BT Super MySuper The Victorian Independent Schools Superannuation Fund - VISSF Balanced Option (MySuper Product) However, almost all of the super funds highlighted will have other portfolios and other fund options which may be performing well and meeting the needs of members. The important takeout from this is to ensure you understand your super fund - including the costs, the portfolio and whether it suits your overall needs and risk profile. If you want help getting more actively involved in your super, including reviewing your current superannuation policy, super strategy options and assessing whether you are on track to meet your retirement goals, contact the Affinitas Financial Planning team on 07 3359 5244 or [email protected] To read the full APRA Superannuation report, see https://www.apra.gov.au//apra-releases-inaugural-your-futu

22.01.2022 Five Fun Facts - General Work Related Expenses The General Work Related Deductions section of an individual tax return covers the widest range of potential deductions. Unlike sections that specifically deal with areas like Motor Vehicle, Travel, Work Clothing and Education Claims, the General Work Related deduction section is much more catch-all in nature.... So if an expense is necessarily incurred in the course of earning assessable income and it does not fit into a specific deduction section, then it is likely that it may be considered as a potential claim in this General Work Related deductions section. The potential list is long, but the following are the most common deductions claimed in this area. union fees and subscriptions to trade, business or professional associations overtime meal expenses (subject to some specific guidelines) professional seminars, courses, conferences and workshops, reference books, technical journals and trade magazines the work-related portion of tools and equipment and professional libraries claimed outright or apportioned work-related expenses that may not be 100% claimable, but potentially can be apportioned. These can include: o interest on money borrowed to buy work equipment (eg a computer) o repair costs for work equipment o the decline in value (depreciation) of the work equipment above a certain value if the equipment has a useful life of more than 12 months o internet access charges, phone calls & phone rental o home office expenses via claiming a portion of direct costs or via ATO approved rate per hour formula. Do you think you might be able to include these types of claims in your 2021 tax return? If so, why not put your return in the hands of an experienced tax professional. Contact Affinitas Accounting on [email protected] or phone 07 3359 5244.

21.01.2022 We love taking on new clients as part of our Affinitas family. What a treat to be spoiled them . Thank you Team Aircon Clean

20.01.2022 Five Fun Facts About Low Value Pool Depreciation Deductions Instead of depreciating different items at different rates, sometimes there is an advantage in creating a Low Value Pool for depreciation deductions Both low-cost assets and low value assets can be allocated to the pool Low-cost assets are depreciating assets that cost less than $1,000... Low-value assets are depreciating assets that are not low-cost assets but which, as at 1 July at the start of the tax year, had an opening adjustable value of less than $1000 under the diminishing value method. Assets that can be allocated to a low value pool can include motor vehicles, general work related items and items being depreciated in relation to rental properties An experienced tax professional can help you work out whether creating a Low Value pool for depreciation purposes can help boost your refund. Contact Affinitas Accounting on 07 3359 5244 or [email protected]

19.01.2022 Hidden treasure in catch up tax returns Imagine getting 15 years’ worth of tax returns up to date AND finding out the ATO owes you more than $28,000!!!!!! The Affinitas Accounting Tax Team got to relay this exciting information to a client this week.... Being behind with your tax lodgements is never good for your state of mind. And nowadays it can prevent you from moving forward with things such as home loans, car finance applications, rental lease applications and, in some cases, even job interviews. A client once arrived on our doorstep 10 years’ behind with his tax returns and he commented that it was the first he thought about every morning and the last thing he thought about every night - until we got him up to date. We can’t always promise that getting your old returns lodged will result in a pot of money. But often there are many years’ worth of refunds waiting to be collected. Getting backdated returns lodged is a process that is definitely best handled by a professional tax accountant. Over a 10-15 year period, tax rates and tax rules change and this requires access to experienced advice and backdated software to ensure the calculations are correct. So if you are behind with your taxes make it your priority in 2020 to get yourself up to date. Make contact with a registered professional tax accountant and discuss the process and the records you need. Affinitas Accounting has had more than 20 years of experience helping people keep up to date with their tax returns. We’d love to help you. Contact [email protected] or 07 3359 5244.

19.01.2022 Clients Making A Difference In the Community At Affinitas, we admire the contributions made by all our small business clients - but we do help look after some organisations who are giving back to their communities in very special and unique ways. For these organisations and the dedicated teams who run them the desired outcomes go way beyond making money. ... They are about making a positive and lasting difference to their clients and communities. Growing RREPP For Fairtrade RREPP is a Sydney Northern Beaches based business with a global reach that has grown from a mere seed thought in the mind of Socialpreneur and Founding Director Scott Goddard. For more than a decade, Scott has worked on taking an almost unattainable business objective and turning it into a full blown reality which is to create a manufacturing business that is completely compatible with Social Justice and Environmental Sustainability. And not just in part - but 100% through every step and every aspect of its supply chain - from the growers of natural raw materials, right through to the last stitch being applied by workers during the final stages of production. RREPP makes a signature range of sports balls (soccer, futsal, netball, rugby union, touch football and rugby league) - all of which are minimum match quality and cater to players of all levels including their top range of soccer balls which are put through the same rigid testing as any of the highest standard FIFA Quality PRO balls sold anywhere in the world. RREPP also produces a range of garments caps, cotton tees and polo shirts that are certified to the highest of global fair trade standards. Scott says the overarching goal was to engage consumers to understand more about the power of their purchasing. It’s about how being empowered to make ethical choices can transform the lives of workers, families and communities that provide us with the clothes we wear, or the sports balls that millions of kids and adults play with around the world everyday - from mini league to World Cups. To find our more about RREPP and the products they sell, go to https://www.rrepp.com.au/ Is your business giving back to the community? If so, tell us your story by replying to this post or by sending an email to [email protected]

19.01.2022 Everything you need to know about JobKeeper 2.0 Jobkeeper has been extended to 28 March 2021 but the qualifying criteria have been tightened and the amounts will be reduced on 1 October and again on 4 January to gradually phase it out. The current $1500 per fortnight JobKeeper payment will be reduced to between $750 and $1200 per fortnight from 28 September. The lower $750 rate will apply to employees working less than 20 hours a week. ... From 4 January 2021, the rate will again fall to $1000 per fortnight and $650 for people working less than 20 hours a week. New eligibility tests 1. Reduced Turnover test (continuing test) The government will now require businesses to demonstrate that they have suffered an ongoing significant decline in turnover using actual GST turnover, rather than projected GST turnover. From 28 September, businesses will be required to show an actual decline in turnover for the June and September quarters to qualify for JobKeeper 2.0. From 4 January 2021, businesses will need to reassess their turnover to demonstrate that they have met the decline in turnover test for each of the June, September and December 2020 quarters. Treasurer Frydenberg said employers would need to demonstrate that they had met the relevant decline in turnover in both the June and September quarters to be eligible for the JobKeeeper payment in the December quarter. 2. Employee hours worked test (Once off test as at 1 March 2020) A lower Jobkeeper 2.0 payment will be made to eligible employees who worked less than 20 hours per week in the 2 fortnights prior to 1 March 2020. Eligible employees who worked less than 20 hours a week in each of these fortnights will qualify for $ 750 per fortnight from 28 September and then $650 per fortnight until the payments end on 28 March 2021. #covid19 #stimulus #jobkeeper #jobkeeper2.0 Affinitas Finance

19.01.2022 In the rush to submit returns and get tax refund paid, some self lodgers are making mistakes that could cost them.. The ATO revealed three trending mistakes. The first issue included claiming multiple working-from-home methods for the same period, with some taxpayers accidentally or deliberately confusing between the ATO’s recently introduced 80 cents shortcut method and its standard 52 cents fixed-rate and actual cost method.... It’s important to remember that if you’re claiming under the working-from-home shortcut method for 1 March to 30 June 2020, you can’t claim any other expenses for working from home for that period, Ms Foat said. If you want to specifically claim the depreciation of big-ticket items like laptops or desks, you can use one of the existing methods, but you can’t double-dip and claim under the shortcut method as well. The second issue was where taxpayers simply copied and pasted their deductions from the previous year, failing to account for a reduction in claims due to COVID-19. In many cases, taxpayers will have reduced expenses for claims such as work related travel and uniform due to working from home. The final issue was the failure to report all income, with prefill information unlikely to be 100% accurate so early into the new financial year. It is crucial to check information like cash wages, foreign income and all interest/dividends were included. The ATO advised that Unfortunately, we can confirm that approximately one in five people who lodged early won’t be getting their refunds in the first batches out because they didn’t take the time to include all their income, If you think you’ve slipped up and need some expert help to set things straight, get in touch with us on [email protected] or phone 07 3359 5244.

18.01.2022 Great to see our clients well deserved success! Well done!

18.01.2022 Heads up - taxable payments annual report (TPAR) are due by 28 August 2020. This year, many more businesses are included in the TPAR net for the first time. This includes those that pay contractors to provide road freight, information technology, security, investigation or surveillance services. Businesses providing building and construction, cleaning or courier services are already required to report.... Due to COVID-19, many businesses have needed to contract out more services, so it’s worth checking whether this applies to your business. The ATO is aware that many restaurants, cafés, grocery stores, pharmacies and retailers had started paying contractors this year to deliver their goods to customers as a result of COVID-19. These businesses may not have previously needed to lodge a TPAR. However, if the total payments received for these deliveries or courier services are 10 per cent or more of the total annual business income, you’ll need to lodge. The ATO expects more than 280,000 businesses to complete a TPAR for the year ending 201920. If you own a business and think you may need to lodge a TPAR by the end of August, contact Affinitas Accounting on 07 33595244 or [email protected]

15.01.2022 Did you know we have an Instagram account? Follow us for some fun "in the office" posts! And find out where Brad has been on his holidays!

15.01.2022 Five Fun Facts - Work related Clothing Claims Every tax claim you make has the ability to boost your return. But to be a legal claim, it must be directly connected to you earning assessable income. Plus you must have incurred the expenditure and not been reimbursed by your employer.... Simple right? Except, there are literally thousands of twists, turns, tax rulings, private rulings, court case decisions and other traps and nuances when it comes to making legal tax claims in Australia. Five Fun Facts about Work related Clothing Claims To claim the costs of clothing it must be either specific to your occupation, or protective in nature in relation to your job, or a corporate uniform (preferably registered with a logo) A general dress code at your workplace may not be enough to justify a claim eg dressing in a businesslike manner Protective clothing can include protection against the natural elements like hats and UV sunglasses If the clothing is claimable, then the cost of cleaning and maintaining the clothing may also be claimable If you have worked from home and have not been required to wear your uniform during this time, beware claiming a full year’s laundry Do you think you might be able to include a Work related Clothing Claim in your 2021 tax return? If so, why not put your return in the hands of an experienced tax professional. Contact Affinitas Accounting on [email protected] or phone 07 3359 5244.

14.01.2022 Five Fun Facts about - Interest & Dividend Income Deductions Many Australians are now saving and investing their money, which means they need to annually declare interest, dividend or other investment income. If so, you may be eligible to claim a deduction for any associated costs, such as Account-keeping fees you incur on an account held for investment purposes. For example, a cash management account. You will find these fees listed on your statements.... Interest charged on money borrowed to buy shares and other related investments from which you derive assessable interest or dividend income. The cost of advice and/or attending a seminar costs related to reviewing an existing income producing investment could be claimable (NB Costs of initial advice to set up an investment are not claimable). Other claimable costs could include ongoing management fees or retainers Plus a portion of costs you incur in managing the investments, such as: o some travel expenses o specialist investment journals and subscriptions o borrowing costs o internet access o the decline in value of your computer. You cannot, however, claim a deduction if you receive exempt income and you cannot claim interest you incur to pay a personal debt (e.g. a personal tax debt). Costs related to capital gains and rental property income are also not claimable at this section of the tax return. Do you think you might be able to include these types of claims in your 2021 tax return? If so, why not put your return in the hands of an experienced tax professional. Contact Affinitas Accounting on [email protected] or phone 07 3359 5244

12.01.2022 URGENT ACTION NEEDED BY FRIDAY - JOBKEEPER CHANGES ATO guidance now notes that for the fortnights commencing on 3 and 17 August, the Tax Office will provide employers until 31 August to meet the wage condition for all new eligible employees under the 1 July eligibility test.... However, the legislative instrument notes that the JobKeeper employee nomination notice must be provided within seven days of the commencement of the instrument effectively giving employers until this Friday to do so. The Tax Institute’s senior advocate, Robyn Jacobson, said business should now consider a range of employees who would now be eligible under the new 1 July eligibility test. This could include casuals who did not meet the definition of a long-term casual employee by 1 March but have since become long-term casual employees by 1 July, or employees who did not qualify on 1 March due to their age or visa status but have since become 16 or 17 and meet the independence and study conditions, or 18 years, or obtained the necessary visa. The one in, all in rule means that any full-time or part-time employee hired between 2 March and 1 July 2020 who meets the age and residency requirements, or casuals who also meet the 12-month condition to be a long-term casual employee, will need to be provided with a nomination notice, Ms Jacobson said. The eligibility of existing employees is preserved if they are already covered by JobKeeper based on the 1 March 2020 reference date. Retesting of their eligibility is not required. However, the new rules provide that employers must provide a nomination notice to their employees who are now eligible based on the 1 July 2020 employment test by 21 August 2020. The profession is seeking for the commissioner to allow employers more time to meet this requirement, in line with the extension to the end of August to enrol and meet the wage condition for fortnights 10 and 11. Changes to the JobKeeper rules also now allow individuals who have nominated as an eligible employee or eligible business participant with one entity to re-nominate as an eligible employee of another entity in limited circumstances. To re-nominate, the individual must have ceased their employment or business participation with the first entity before 1 July, and commenced their employment with the new entity by 1 July. The legislative instrument also notes that separate amendments will soon be released to detail the JobKeeper 2.0 extension and the two tiers of payments beyond 27 September. Article above from Accountants Daily - link in comments View the ATO guidance via the link in the comments.

08.01.2022 The most Important budget of our lifetimes breaks open the piggy bank.. The Morrison Government is banking on tax cuts and big business spending to lead the Australian economy out of the Covid-19 recession. In what has been labelled the most important Budget of our lifetime, Treasurer Josh Frydenberg has outlined a range of policies designed to give individual taxpayers more money to spend and encouraging businesses to invest in human and capital resources.... The main Budget numbers and policies can be found at: https://affinitasaccounting.com.au//Market-Wrap-2020-Budge As with all Government announcements, the devil is always in the detail. How these pump-priming policies work in practice and how difficult (or not) they are to access can be the key to their success. And it pays to remember that most Budget announcements do not become law until they are passed by both Houses of Parliament. The Affinitas Team will keep across the progress of the new tax and any other Budget policies as more details are released. Contact 07 3359 5244 or [email protected] Affinitas Finance

08.01.2022 Reason to Celebrate Our Great Family Businesses In case you missed it, we celebrate National Family Business Day each year on Friday 18th September. During this 2020 year of its Covid-19 challenges, it is, more than ever, a day to say thank you to a sector of our economy that represents over 70% of Australian businesses and employs over 50% of the nation's workforce. If you don’t run a family business yourself, you definitely know someone who does. Whether it’s your plumber..., gardener, local newsagent, florist or your doctor every one of those is its own family business. The Affinitas team, during the past 20 years, has been proud to be associated with some great clients who have started and continue to run their family businesses. They are loyal, hardworking and justifiably proud of what they are able to achieve. The Affinitas group is a family business one that continues to provided tax advice, accounting services, financial planning and finance advice to other family businesses. So we’d like to take a moment today to acknowledge all family businesses and thank them for the hard work and sacrifice that makes them so significant to our communities and our broader economy. Keeping a family business alive and continuing to operate in 2020 has been a feat worth celebrating. Contact Affinitas Accounting on 07 3359 5244 or [email protected] See more

06.01.2022 Beware new alternative tests for JobKeeper 2.0 The introduction of JobKeeper 2.0 will be starting from 28 September onwards. The new levels of payments and how they will be assessed have been widely publicised, including in our blog below, released on 4 September....Continue reading

06.01.2022 Five Fun Facts - Self Education Claims Every tax claim you make has the ability to boost your return. But to be a legal claim, it must be directly connected to you earning assessable income. Plus you must have incurred the expenditure and not been reimbursed by your employer. Simple right?... Except, there are literally thousands of twists, turns, tax rulings, private rulings, court case decisions and other traps and nuances when it comes to making legal tax claims in Australia. Five Fun Facts about Self Education Claims You can claim self-education and study expenses you incur when the course you undertake leads to a formal qualification and meets the following conditions. - The course must have a sufficient connection to your current employment activities as an employee and either: (a) maintains or improves the specific skills or knowledge you require in your current employment activities (b) results in or is likely to result in, an increase in your income from your current employment activities. You cannot claim a deduction for self-education and study expenses for a course that: - does not have a sufficient connection to your current work activities - only relates in a general way to your current employment such as undertaking a full-time fashion photography course and working as a casual sales assistant on the weekends - enables you to get new employment or change employment such as moving from employment as a nurse to employment as a doctor. If the course qualifies as a tax deductible claim, then you can claim the following expenses - General course expenses including course fees, home office, postage, stationery, internet/computer usage and text books/journals - Motor vehicle expenses travelling from home/work to attend lectures and back - Depreciation of equipment needed to complete your course There is a $250 reduction in expenses that must be applied, however this amount can be reduced by applying certain non deductible (but related) expenses, such as childcare costs and non tax deductible travel. You cannot claim expenses that have been paid by someone else (or reimbursed) and repayments on certain student support loans. Do you think you might be able to include a Self Education Claim in your 2021 tax return? If so, why not put your return in the hands of an experienced tax professional. Contact Affinitas Accounting on [email protected] or phone 07 3359 5244.

06.01.2022 Clients Making A Difference In the Community At Affinitas, we admire the contributions made by all our small business clients - but we do help look after some organisations who are giving back to their communities in very special and unique ways. For these organisations and the dedicated teams who run them the desired outcomes go way beyond making money. ... They are about making a positive and lasting difference to their clients and communities. Pursuit of Happier Trails After facing down her own career crossroads, corporate head of events Kat Creech’s life was turned around when she rediscovered her childhood love of horses. Now Kat is intent on giving back to these wonderful, gentle creatures and helping humans at the same time through her newly formed charity Life With Horses. Working under the full title Life With Horses. Healing Together - the organisation has a dual purpose: - to provide the eye-opening experience for veterans and others suffering with PTSD and, at the same time, - working on Kat’s other passion - re-educating, and re-homing retired racehorses. And there is a third level of experience for those who want to sponsor a horse and share in the hands-on journey, as the trainers work to retrain and refocus the energies of each sponsor horse. Kat says Life With Horses is a charity that will take all stakeholders on a life with horses journey where everyone gets to experience growth and development through equine awareness. To learn more about Life With Horses and Ducky their first sponsored horse go to https://lifewithhorses.com.au/ Is your business giving back to the community? If so, tell us your story by replying to this post or by sending an email to [email protected]

05.01.2022 Thanks Rachael for the fab review! We so enjoy working with you. We also love that we can work as a team across disciplines at Affinitas to help our clients get awesome outcomes! Affinitas Accounting #smartstrategicsimple

05.01.2022 JobKeeper 2.0 - Updates below The end of September will soon be upon us and businesses needing ongoing support must get familiar with the rules of JobKeeper 2.0.... First thing to note is that businesses need to qualify separately for each extension period. To qualify for the first extension period, running from 28 September 2020 to 3 January 2021, small businesses will need to satisfy the 30% decline in turnover test for the September 2020 quarter. To qualify for the second extension period, running from 4 January 2021 to 28 March 2021, small businesses will need to satisfy the 30% decline in turnover test for the December 2020 quarter. Then, businesses need to understand the reduced payment rates that apply under a two tiered system per period. For the first extension period, employees who worked for 80 hours or more in the four weeks of pay periods before either 1 March 2020 or 1 July 2020 will receive $1,200 per fortnight, while all other employees will receive $750. For the second period, these rates will drop to $1,000 per fortnight and $650 per fortnight, respectively. The ATO has announced that businesses currently enrolled in JobKeeper will not need to re-enrol for JobKeeper 2.0, nor will they need to provide an employee nomination notice again. Further guidance on calculating the decline in turnover test will be announced soon, but it will be expected to rely heavily on Total Sales (G1) less GST (1A) reported on business BAS for each relevant quarter. This figure will then be compared with figures from the same quarterly BAS, lodged 12 months prior. An ATO spokesperson said additional turnover information may be allowed to demonstrate that businesses met the decline in turnover test for the September quarter from the start of October onwards. Information must be provided before you complete your November monthly declaration. As always, Affinitas Accounting will be keeping up to date with any additional JobKeeper 2.0 information as it is released. So stay in touch and keep a lookout for more updates via email and social media. Contact 07 3359 5244 or service@affinitasaccounting .com.au

05.01.2022 Just when you’re wondering what image would work with this post? A minute later this gem arrived in my inbox. Blair, we love you! You do keep us laughing.. watch out Digital Nomads HQ We have knocked the ball out of the park for the second year running, lodging 93.7% of client returns on time in FY2020. The ATO’s benchmark for a good lodging practice is 85% or better, and despite the challenges thrown up by Covid-19, Affinitas was able to improve on the 92.3% mark achiev...ed in FY2019. So why would this matter (beyond the consequences for those who submit late..) ? The ATO does not just track the lodgement record of each individual lodger, it also monitors the record of the tax agent who lodges your return. There are times when we need to approach the ATO, on clients' behalf, to ask for lodgement extensions and other special consideration. A good lodgement record does not guarantee a request will be granted, but the ATO does have the comfort of knowing that it is dealing with an accounting practice with high standards and that does its absolute best to ensure client lodgements remain up to date. This means they are more likely to look favourably on the requests we make on your behalf. We’re already working on our lodgement record for FY2021. If you’d like to be part of the success, give us a shout on 07 3359 5244 or [email protected].

03.01.2022 It's International Gin & Tonic Day!! If you enjoy a tipple and your accounts are up to date go ahead and enjoy the pleasure of a G&T your way. If you’re behind give us a call then pour yourself one whilst we do the heavy lifting for you...

01.01.2022 We've let Brad head off on a little holiday to Fraser Island to go fishing with a group of friends. From all accounts the fish have been biting and the weather has been glorious. Got a favourite fishing spot, share with us in the comments