Optimal Chartered Accountants in Maryborough, Queensland | Accountant

Optimal Chartered Accountants

Locality: Maryborough, Queensland

Phone: +61 7 4122 3522

Address: 92 March Street 4650 Maryborough, QLD, Australia

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

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25.01.2022 Are you still working from home? The ATO has extended the new temporary 80c per hour method for calculating working-from-home deductions to 30 September 2020. Remember, records of the hours worked at home, in the form of time sheets or diary notes, will need to be kept to claim the shortcut method. Contact us for more information.

25.01.2022 How lucky am I? Today is my last day in the office as Miss Doyle. To celebrate my upcoming wedding next weekend, the girls threw me a high tea surprise this morning. Im feeling very loved, fortunate and grateful to have such a supportive, caring, close-knit team. I know the office will run smoothly while Im away with their hard work and dedication. Thank you so much Tammy, Maddy, Neisa & Georgia P.S Tammy, your baking is amazing!

25.01.2022 Happy 1 July to all our wonderful clients Its our favourite time of the year. Make sure to book in your tax soon as appointment times are filling fast

25.01.2022 HaPpY EaStEr Can you believe its Easter already? The team at Optimal wish you all an egg-cellent and bunny-tastic Easter! Our office will be closed from this afternoon, Thursday 5.00pm and will reopen on Tuesday morning at 8.30am. Stay safe and keep well

24.01.2022 Keep an eye on your myGov inbox this tax time! Most people will be accessing their income statement (previously called a payment summary) through our online services in myGov. If your myGov account is linked to our online services, well let you know once your employer has made your income statement tax ready - then, it can be used to do your tax return. Remember, many employers have until 31 July to do this.

24.01.2022 Home Builder is here! $25,000 could be yours to help you build or renovate your home What we know: - ... owner occupied properties trade qualified builder to do the works project cost to be over $150,000 new builds or renovations you earn no more than $125,000 as a single or $200,000 as a couple Contact us for a referral to our in-house mortgage broker to see if you qualify. #Lisa Ogilvie - All About Loans Wide Bay

22.01.2022 The team at Optimal are taking the measures of COVID-19 very seriously. Firstly, please be assured we are here for you and your business needs. Please contact us for assistance as necessary. ... We have made some changes to our office operations in light of the current situation: - Our office will be attended by minimal staff Monday-Thursday 8.30am-5.00pm. For now, our usual Friday hours of 8.00am-12 noon have been suspended, though we are still available by email. We have suspended all face to face appointments. Though we are here Monday-Thursday, we are working behind closed doors for the safety of our clients, staff and the wider community. We continue to have a facility for you to drop information off to us and to answer your phone call during these hours. We ask if you need to contact us at this time to please do so via email or phone: - [email protected] (07) 4122 3522

21.01.2022 The Government yesterday released a second, far-reaching $66.1 billion stimulus package that boosts income support payments, introduces targeted changes to the super rules, provides cash flow support of up to $100,000 for small business employers and relaxes corporate insolvency laws. The PM warned that there are no quick solutions and that business should prepare for 6 months of disruption. https://www.abc.net.au//coronavirus-second-stimul/12078982

21.01.2022 WHATS YOUR STATUS? If youve already lodged your tax return, did you know you can track its progress at any time using the ATOs online services? Here are a few of the status updates you might see: In progress Processing: The ATO has received your tax return and has started processing it or its in its final stages of processing.... In progress Under review: The ATO is reviewing your tax return to make sure everything is right before its finalised. In progress Balancing account: The ATO is balancing the result with your accounts and calculating your refund or the amount you need to pay. See more

20.01.2022 Small employers: Have you finalised your STP records? If you have 19 or fewer employees, the deadline for making a finalisation declaration through your Single Touch Payroll solution is 31 July.

20.01.2022 While our focus has recently been on the rules pertaining to JobKeeper and other forms of Government relief, the next important area for us to work together on is your tax planning for 2020. With the end of financial year a little over six weeks away, now is the time to discuss with us the actions you can take before 30 June 2020 to reduce your tax and grow your wealth

19.01.2022 Its true, the JobKeeper bill passed yesterday, however we are still waiting on more information from Treasury and the ATO As soon as more information is available, we will provide you with a more comprehensive update on the details of the JobKeeper Scheme.

19.01.2022 Later tonight, Federal Treasurer, Josh Frydenberg will hand down the 2020-21 Federal Budget. Normally held in May, this year's Federal Budget has been delayed to October due to the impact of COVID-19. Watch this space for a post-budget summary

18.01.2022 Queenslanders will receive utility bill relief of $200 for households power and water, and $500 electricity rebates for businesses under measures announced by ...the State Govt today. Account holders dont have do to anything, as well be working to apply these ASAP. Full details of announcement: https://bddy.me/2Uu9aag See more

16.01.2022 Weve spoken to many clients over the past few weeks who are somewhat sceptical of the Jobkeeper Payment program. Is it worth it and is it real Well, its both! So far, weve managed to secure over 2.5 million (and counting) of JobKeeper Payment support for our clients, with payments to commence from this week If youve experienced a downturn of at least 30% in your business income, its not too late. Contact us before May 8!... (07) 4122 3522 [email protected]

16.01.2022 Many Australians are being stood down during this pandemic and will need to apply for Centrelink benefits, possibly for the first time in their lives This is a good article if you need to apply for assistance and dont know where to start. The main thing to know is that it wont be a seamless straight forward process, so bring your biggest dose of patience and tolerance to the task. Most Centrelink employees are fabulous and are trying their best to quickly process the increase in enquiries during this time. As always, if you need help, please dont hesitate in contacting our office.

15.01.2022 Friday feels... I had a darling client fall asleep in my office today. She assured me shed just finished a week of night shift and doesnt find having her tax done that bad. Phew! We can relate completely

15.01.2022 Reminder: The depreciating asset instant asset write-off threshold has been increased from $30,000 to $150,000 until 30 June 2020. The measure applies to both new and second-hand assets first used or installed ready for use in the period beginning on 12 March 2020 (the date on which this measure was announced) and ending on 30 June 2020.

13.01.2022 Like you, here at Optimal Chartered Accountants we are closely monitoring the updates around the coronavirus (COVID-19) outbreak as it continues to dominate our conversations and lifestyle. We understand this is a time of uncertainty and concern. Please know we are here to assist you wherever possible. At this stage, there are no changes to our office arrangements and we welcome your email/phone enquiries.

12.01.2022 Following months of speculation, the government has unveiled the long-awaited JobKeeper review, including changes to the wage subsidy scheme which will see it overhauled and extended beyond September to March next year. https://www.abc.net.au//jobkeeper-jobseeker-exten/12475716

12.01.2022 Company Tax Tip The company tax rate (for base rate entities with turnover <$50m) reduces to 26% from 27.5% on 1 July 2020. We suggest deferring as much income as possible to post 30 June so that your business income is taxed at the lower rate. ... Less tax = winning!

12.01.2022 Great news for small business

12.01.2022 Our tax tables have been updated to reflect the 2020-21 income year personal income tax cuts. Employers must make sure they are withholding the correct amount f...rom salary or wages paid to employees for any pay runs processed in their system from 16 November onwards. For more information, check out the tables at www.ato.gov.au/Rates/Tax-tables

11.01.2022 Are you wondering who you can book an appointment with this tax time We have 4 experienced accountants ready to see you! Well be posting a little about each team member this week Maddy Watson has been working with the Optimal team since January 2017. She is a familiar face to clients, having worked in the Administration Officer role until early 2019, when she moved to the role of Assistant Accountant.... Maddy has recently attained her Certificate IV in Accounting and Bookkeeping. She enjoys working with a variety of clients from varied industries and is expanding her knowledge in all bookkeeping aspects and software accounting programs. Maddy enjoys fishing, camping and spending time with friends and her dog Kuda in her spare time

11.01.2022 In line with easing restrictions and the re-opening of schools, Optimal is open for business and ready to serve you this 2020 tax season. Your 2020 tax return may be a little more complex this year with new income sources including JobKeeper, JobSeeker, Superannuation and the Cashflow Boost. There are new deductions to claim for home office expenses, among others, and increases to the asset write off threshold. ... We can complete your tax return by appointment, over the phone, via email, post, or information drop-off, all for a base price of 150. Ensure you receive the maximum refund this year by engaging our team of professionals (07) 4122 3522 [email protected] www.optimalca.com.au

11.01.2022 Thanks for the awesome review Maryborough Fitness Health and Bodyworks. Its nice to be appreciated for all that we do. Youre always a pleasure to work with

11.01.2022 Today is R U OK? Day. It is a national day of action dedicated to reminding everyone that any day is the day to ask, Are you ok? and support those struggling with life, anxiety, or depression. We all understand that businesses are going through a tough time right now - COVID or not, life can be hard. So lets remember to check in with the people in our lives. If youre worried about someone, ask the question "R U OK?". A conversation could change a life.... For more information, or to download useful resources, visit www.ruok.org.au.

11.01.2022 Congratulations to the Waterfront Restaurant! Great recognition for all the hard work Nat and the team put in

11.01.2022 Throwback Thursday to our wedding 3 months ago. Weve been so busy dealing with covid for the last 8 weeks that I havent provided an update. Max and I had a magical wedding day in Feb at Hervey Bay, followed by our honeymoon to Europe. Our holiday was cut short but were thankful to have made it home, safe and relatively well. We had one great week in London, Paris and visiting the Swiss Alps. If theres one thing this pandemic has taught us, its that our small busi...ness and sole traders in our community are resilient. How great is it to see so many local businesses change and adapt their practices to keep going in the face of such a difficult time. So, heres something to think about: opportunities developed during a crisis often yield a positive impact in the long run as opposed to organisations which cut back their innovation budgets. Heres a few happy snaps of our big day. Rachelle Wilson

10.01.2022 Lest We Forget.

07.01.2022 Visit our website www.optimalca.com.au to learn more about our services and who we are A big thank you to Wade McMaster - Web Designer / Graphic Designer / Artist for the awesome refresh

05.01.2022 The ATO has issued an apology to businesses after an error saw it calculate PAYG instalments for base rate entities, with an aggregated turnover of less than $50 million, using the previous company tax rate of 27.5 per cent instead of the correct 26 per cent. http://ow.ly/YtdI50CiaMt.

05.01.2022 As part of our COVID-19 preparedness strategy, Optimal has been working behind the scenes over the past few weeks to ensure all team members are set up to work from home if necessary. At this stage we will continue to remain open, however for the safety of our clients and our team, we are limiting face to face meetings. We request for clients to contact us by phone or email with enquiries. Our doors remain open to drop off or collect information from reception if you are well. The COVID-19 situation continues to evolve and the advice to businesses is constantly being updated. Rest assured, the Optimal team is available and will continue to work with you during these challenging times.

04.01.2022 FYI Friyay! From 1 July 2020, the rate at which work-related car expenses can be claimed (using the cents per kilometre method) increased from 68 cents to 72 cents per kilometre

04.01.2022 SCAM ALERT Beware of a new text message (SMS) scam claiming you have a tax refund. Dont click any links and dont provide any information, even if it seems... convincing. Remember, well never send an SMS asking you to access our online services via a hyperlink. Warn your family and friends to stay alert and visit our scam alerts page to learn more: www.ato.gov.au//Online-serv/Identity-security/Scam-alerts/

03.01.2022 Have you missed the October 31 tax deadline If you haven’t done your tax this year, or for many years, there's no need to panic. If you're registered as a client of a registered tax agent, like Optimal, then you can usually lodge well beyond the deadline without penalty. Contact us before the ATO contacts you. You might even be due a refund. 4122 3522.

03.01.2022 Coronavirus Early Super Access Due to the widespread financial effects of the Coronavirus, the Federal Government has allowed a temporary early access to superannuation for those affected. Superannuation withdrawals will be limited to $10,000 prior to 1 July 2020, with a further $10,000 available after 1 July 2020, the later of which is expected to be for a limited time. The early release will be limited to those who fulfill one of the following criteria:... You are unemployed; or You are eligible for a job seeker payment, youth allowance for jobseekers, parenting payment, special benefit or farm household allowance; or On or after 1 January 2020: You were made redundant; or Your working hours were reduced by 20 per cent or more; or Youre a sole trader and your business was suspended or there was a reduction in your turnover of 20 percent or more. Importantly, people utilising the early access of superannuation under these conditions will not be required to pay tax on the amounts released and will not affect Centrelink or Veterans Affairs payments. Applications for the early release of super can be made through the my.gov.au website.

03.01.2022 COVID-19 TAX MEASURES The Government has announced its economic response to the Coronavirus in the form of a $17.6 billion economic stimulus package. The package has been marketed as a measure to protect the economy by maintaining confidence, supporting investment and keeping people in their jobs.... It is expected that an appropriate package of Bills (which will provide further detail in relation to the proposed measures) will be introduced into Parliament in the final sitting week in March 2020 (i.e., presumably from 23 March 2020) for urgent consideration and passage. The Key Tax Measures include: From Thursday 12 March 2020, the instant asset write-off threshold has been increased from $30,000 (for businesses with an aggregated turnover of less than $50 million) to $150,000 (for businesses with an aggregated turnover of less than $500 million) until 30 June 2020. A time-limited 15-month investment incentive (through to 30 June 2021) which will operate to accelerate certain depreciation deductions. This measure will also be available to businesses with a turnover of less than $500 million, which will be able to immediately deduct 50% of the cost of an eligible asset on installation, with existing depreciation rules applying to the balance of the assets cost. As announced, this measure is proposed to only apply to new depreciating assets first used, or installed ready for use, by 30 June 2021. Tax-free payments of up to $25,000 for eligible small and medium businesses (i.e., with a turnover of less than $50 million that employ staff) based on their PAYG withholding obligations. Tax-free payments of $750 to social security, veteran and other income support recipients and eligible concession card holders. It is estimated that around half of those who will benefit will be pensioners. These payments will commence to be automatically made from 31 March 2020. Administrative relief from the ATO for some tax obligations for people affected by the Coronavirus outbreak, on a case-by-case basis.

02.01.2022 Are you wondering who you can book an appointment with this tax time We have 4 experienced accountants ready to see you! Well be posting a little about each team member this week Rachelle commenced her accounting career over 15 years ago gaining experience in various accounting and taxation advisory firms throughout Queensland. She is a member of Chartered Accountants Australia and New Zealand, is a registered tax agent and holds her certificate of ...public practice. Rachelle is also registered to provide advice and services on self-managed superannuation through the new financial services licensing requirements. Born and bred on the Fraser Coast, Rachelle has a thorough understanding of the region and the issues particular to it. Her broad industry experience extends across many sectors from primary production to retail, hospitality, property, medical, construction and development. Rachelle is a country girl at heart. She loves the outdoors and spending time with her husband Max on their small property

01.01.2022 URGENT ACTION REQUIRED - JOBKEEPER PAYMENT As we come to the end of another busy week, our thoughts are turning to next week and what will be required.... All employers who intend to claim the JobKeeper payment for their staff will be required to if they want the payment to be backdated to 1 April. In effect, this gives us 5 business days to ensure that all clients are in the system, and we have not yet seen what the system looks like! SO PLEASE: If you have registered your interest in the JobKeeper program you still need to enrol. You cant do nothing! You need to enrol through the business portal. If you dont have access to the business portal, then we need to do it on your behalf. If you want us to enrol on your behalf it is imperative that you contact us early next week to ensure we have you on our list of To Dos. There is action you will be required to take, and it is very time sensitive, so please let us know if you do not intend to enrol your business yourself. The Optimal team have gone home to unwind so were all refreshed for another busy week. Have a great weekend everyone

01.01.2022 2020-21 Federal Budget All eligible assets acquired from 7:30pm AEDT on 6 October 2020 and installed ready for use by 30 June 2022 regardless of cost can be claimed 100% as a deduction. The luxury car limit still applies. From 7 October 2020, eligible employers will be able to claim $200 a week for each additional eligible employee they hire aged 16 to 29 years old and $100 a week for each additional eligible employee aged 30 to 35 years old. The amount of the cre...dit is capped at $10,400 for each additional new position created. Any company losses made in 2020, 2021 or 2022 income years can be offset against prior year profits made in or after the 2019 income year. The marginal individual tax rates have also changed backdated to 1 July 2020. The full Budget papers can be accessed at https://budget.gov.au.

01.01.2022 As you may have already heard in the media, yesterday, the JobKeeper Payment for businesses significantly impacted by the coronavirus outbreak was announced. The $1,500 per fortnight subsidy will allow eligible employers to continue paying their employees. This subsidy also extends to sole traders, providing an alternative to the financial assistance administered by Centrelink. For information on the JobKeeper subsidy eligibility, timing, payment process and how to apply, pl...ease refer to the links below: https://www.business.gov.au//coronavirus/jobkeeper-payment https://www.ato.gov.au/general/gen/JobKeeper-payment/ As always, please dont hesitate to contact us for further information or assistance: - [email protected] (07) 4122 3522