BAN TACS Accountants Pty Ltd in Beachmere, Queensland | Financial service

BAN TACS Accountants Pty Ltd

Locality: Beachmere, Queensland

Phone: Vist us at www.bantacs.com.au

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25.01.2022 Monday Money Talk with Noel Whittaker June 30 is rapidly approaching, which means it is time to seek advice about ways to save tax. This has been a most unusual... financial year, and your income may be way down. If thats the case, it may be valuable to postpone personal concessional deductible contributions to superannuation, or repairs and maintenance on investment properties, until a year when your earnings put you in a higher tax bracket, when the deduction would give you a higher refund. If you have some shares with a capital gain, and some with a capital loss, take advice about whether to sell both before 30 June to offset the gain against the loss. Also, if there is likely to be some CGT payable, if you are in a lower tax bracket this year, the CGT may be charged at a lesser rate. Making superannuation contributions up to your maximum cap of $25,000 a year is a no-brainer. Once you have reached that cap, consider making a contribution for your spouse. If they earn less than $37,000 this financial year you may even get a tax offset as a bonus. Get advice on your particular circumstances, as this tax offset is unlikely to be a better option than making a deductible contribution for yourself. To qualify for the spouse contribution tax offset of $540 all you need to do is make a $3000 non-concessional contribution, on their behalf. Your spouse may also like to consider making a non-deductible super contribution for themselves of $1,000, if they are eligible for a $500 government co-contribution. A re-contribution strategy is worthwhile if you have access to superannuation, and are still eligible to make contributions. You could withdraw up to $300,000 tax-free, and re-contribute it as a non-concessional contribution, on which there would be no entry tax. By doing this you would convert a large chunk of the taxable component of your fund to non-taxable, and so alleviate substantial taxes for your inheritors if you died suddenly, and your superannuation went to a non-dependent. Dont forget the strategy of splitting your superannuation with your spouse. To be eligible, the receiving spouse must be under 65 and, if over preservation age, not retired. Where the receiving spouse turns 65 during the year of the split, you need to act before their birthday. The transfer must be completed by 30 June. As long as the contributing member has a sufficient account balance, the amount that can be split is the lesser of 85% of that years concessional contribution or $25,000. This means that, if the contributing spouse has made a $25,000 contribution, the maximum split would be 85% or $21,250. Take advice if you are under 65 and nearing retirement, because apart from the downsizing contribution, it may be your last chance to boost your superannuation. You could still use the bring-forward rule, which will allow you to contribute $300,000 as a non-concessional contribution, and so move funds to an area where tax will be zero once you start to draw a pension from your fund. If you are in pension mode now, keep in mind that the minimum drawdown requirements have been halved for this financial year and next. Therefore, provided your budget allows it, you may wish to reduce the minimum pension you have been drawing, and so keep more money in superannuation. Noel Whittaker is the author of Making Money Made Simple and numerous other books on personal finance. [email protected]

25.01.2022 Call all Employers The new PAYG withholding rates are now available from the ATO. They are effective from 13th October, 2020. Employers are required to be using them before 16th November, 2020. The links below take you to the relevant schedules, depending on your pay period. For most employers your software provider should provide you with an update. https://www.ato.gov.au/Rates/Weekly-tax-table/ https://www.ato.gov.au/Rates/Fortnightly-tax-table/ https://www.ato.gov.au/Rates/Monthly-tax-table/

25.01.2022 Virtual Tax Returns A short video explaining the process of preparing your tax return with personal service direct to you in your home but socially distant. https://www.youtube.com/watch?v=q5HzbzaZfkM&feature=emb_logo https://www.bantacs.com.au/virtual-tax-returns/

24.01.2022 For our small business followers who felt a little guilty taking jobkeeper! https://www.abc.net.au//25-companies-paid-execut/12647688

24.01.2022 Attention All Discretionary Trusts! Please make sure you have made a minute distributing the trust income for the 2019-2020 financial year, before 30th June, 2020.

23.01.2022 Jobkeeper 2.0 Here is a link to Julias blog on Jobkeeper 2, updated for the announcements on 7th August, 2020. While it is mainly about the period 1st October, 2020 to 31st March, 2021 there is important information for immediate action if you have employed someone between 1st March, 2020 and 30th June, 2020. You may now be entitled to Jobkeeper for them back dated to the pay period starting 3rd August, 2020. https://bantacs.com.au/Jblog/the-future-of-jobkeeper/

22.01.2022 Professional Tax Returns - See the Difference in your Refund Our offices are taking all the necessary COVID precautions but there are also many other ways to have your tax return prepared by a BAN TACS Accountant. In Person https://www.bantacs.com.au/aboutus/locations/ Through the Mail https://www.bantacs.com.au/topics/mail-in-tax-returns/... Zoom Meeting and electronic signing https://www.bantacs.com.au/virtual-tax-returns/ See more

22.01.2022 Tax and the Office Christmas Party https://bantacs.com.au/Jblog/tax-on-christmas-parties/

22.01.2022 Australia Wide We Have You Covered Our individually owned offices mean we can offer local practice services with the resources of a national firm that has expertise in many areas. Our offices are taking all the necessary COVID precautions but there are also many other ways to have your tax return prepared by a BAN TACS Accountant.... In Person https://www.bantacs.com.au/aboutus/locations/ Through the Mail https://www.bantacs.com.au/topics/mail-in-tax-returns/ Zoom Meeting and electronic signing https://www.bantacs.com.au/virtual-tax-returns/

22.01.2022 Extension of the $150,000 immediate write off to 31st December 2020 No real surprise, silly to drop that stimulus in the middle of a recession. Great to have the news now as there are a couple of good reasons why you should wait until July before you buy! The lifting of the immediate write off threshold to $150,000 in March 2020 will mean that many small businesses will be forced to automatically write off the total of their low value pool in their 2020 tax retur...n. This and COVID could mean that they already have enough deductions for that year. Dont waste your tax free threshold, careful planning is necessary. Since the small business write off threshold has increased above $30,000 many taxpayers thoughts turn to a car. In particular Uber drivers. There are several good reasons to wait. Hopefully you will be able to get a better price after the 30th June rush. Also the luxury car limit goes up from $57,581 for 2019/2020 to $59,136 for 2020/2021. For the full detail on how this operates please read our blog https://bantacs.com.au//the-25k-immediate-writeoff-cleve/

22.01.2022 Dont let the ATO Bully you out of the Cash Flow Bonus There is nothing in the legislation that requires you to have been an employer before 12th March. But the ATO are using this as a reason to automatically deny you the cash flow bonus. You need to chase them up or you will miss out. They may quote some very misleading pages on the ATO web site to you, in all sincerity due to their training. There are parts of the ATO web site that are at odds with the legis...lation but fortunately this page is closer to the truth https://www.ato.gov.au//In-detail/Boosting-cash-flow-for/ Nevertheless the legislation makes absolutely no mention of any requirement that you need to employ before 12th March. So if you are one of the many fortunate industries that are booming during this time. Do not hesitate to get in for your share of the stimulus. Dont let the ATO bully you, your country needs you to be able to continue to afford to employ. See more

21.01.2022 Speedo Readings Please go out to your car right now and take your speedo reading as at 30th June. Keep your options open for a motor vehicle claim.

21.01.2022 Musicians and Other Entertainers Jobkeeper Please dont take too literally what the press say. Yes, some of the Jobkeeper rules make it difficult for people in the entertainment industry to qualify. But if you had an ABN before 12th March, 2020 and reported some income between 1st July, 2018 and 12th March 2020 then you probably qualify for Jobkeeper Business Participant which is the same amount of money. Further, dont be concerned that you have not report...ed income to the ATO between 1st July, 2018 and 12th March 2020. There is a carve out if you were not due to report income, you just need to be able to show you had some ie bank statements. Now is not the time to think that you cant afford to speak to an Accountant. Our offices can assess your situation for $150. https://www.facebook.com/WAtoday/videos/10154727297779313/

19.01.2022 Looks like the share market liked the jobkeeper extension.

18.01.2022 Newsflash 354 is out now! Free newsletter with the latest on Jobkeeper and Cash Flow bonus as well as some interesting property related questions and answers from Askbantacs. https://www.bantacs.com.au//uplo/2020/08/Newsflash-354.pdf

18.01.2022 Thank you for liking the BAN TACS Accountants facebook page. If you are interested in property investing and developing please also like our property community page so you will receive lots of tax tips, weekly webinars and the ability to participate in property discussions. https://www.facebook.com/BANTACSpropertypage/

18.01.2022 Dont forget to claim your home office during Lockdown You dont even need to have an actual study at home. For more details https://bantacs.com.au//tax-deductions-when-working-from/

17.01.2022 BAN TACS Virtually! https://www.bantacs.com.au/virtual-tax-returns/ https://www.youtube.com/watch?v=q5HzbzaZfkM&feature=emb_logo

15.01.2022 Rounding Up Jobkeeper Business Participants We just want to make it perfectly clear. To qualify for you Jobkeeper payment each month you must provide the ATO with your turnover for that month and an estimate of the following months turnover. This is also the case for Jobkeeper Employee payments but hopefully your STP software prompts you for this information. This post is to round up all those followers who are receiving Jobkeeper Business Participant payment of $3,000 every 4 weeks for having an ABN before 12th March, 2020 and experiencing a drop in turnover of at least 30%. You must report every month or you will miss out! It does not matter how much your report, once you have experienced a drop in turnover for 1 month or quarter, you qualify.

15.01.2022 Quote from Noel Whittaker's Column this week, that is available on our financial planning page. Best return on investment for pensioners is to spend their money "if you’re on the pension and are asset tested, every $10,000 you spend returns the equivalent of 7.8% per annum via a reduction in assessable assets. So instead of chasing an extra 0.05% on your $200,000 cash portfolio, you could simply spend $15,000 on a trip, or home renovations and get an immediate increase in your pension of $1 170 a year. That’s much more fun than chasing a few more basis points on your term deposit." If you want to know how long your money will last if you start to spend it Noel has a great little calculator here. https://www.noelwhittaker.com.au//retirement-drawdown-cal/

15.01.2022 Great News for PSI Small Businesses If your business is caught under the personal services income rules and attributes income to you. This can still be treated as "wages" for the purposes of qualifying for the cash flow bonus minimum $20,000 payment. No drop in income required to qualify but you have to have an ABN before 12th March, 2020. You must act now. This finishes on 30th June, 2020. You need to make sure your June BAS has an amount in W2 even if it is just withholding for payments by your business to you as attributed personal services income. It may be simpler to just start paying yourself a wage. One thing this change makes clear is that suddenly setting yourself up as an employee of your trust or company is not a scam to get the cash flow bonus.

14.01.2022 Still waiting on Paper Work to Complete your Tax Return? It might never come! Much of what we need to prepare your tax return is now available direct on the ATO portal. We can access it for you. The portal will give us interest earned but not interest paid so you will still need to get this if you have a rental property. Your PAYG summaries, dividends and health insurance details should also be on the portal. Here is a link to our checklists t...o help you prepare https://www.bantacs.com.au/media-library/checklists/ If you prefer social distancing and avoiding travel we also do virtual tax returns over zoom. https://www.bantacs.com.au/virtual-tax-returns/ For the contact details of your nearest BAN TACS office go to https://www.bantacs.com.au/aboutus/locations/ See more

13.01.2022 Newsflash Out Now! https://www.bantacs.com.au//uplo/2020/10/Newsflash-355.pdf

13.01.2022 2020 Checklists Our tax return checklists have been updated for 2020. The $1080 tax offset is on again this year and if you have worked less hours due to COVID your chances of a refund are looking very good. We now have 3 methods of preparing your tax return. In person at one of our 13 offices, mail in or via a zoom meeting. https://www.bantacs.com.au/media-library/checklists/

12.01.2022 Hatching a whole lot of new Apprenticeships The Government has announced a whole new round of 50% wage subsidies for Apprentices and Trainees employed after 1st July, 2020. The $2.5bn JobTrainer package is to retrain, upskill and open new job opportunities for job seekers and school leavers An additional 340,700 training places will be created to provide no or low cost courses into sectors with job opportunities. The Government is working with the States and Territories to ...develop a list of qualifications and skill sets to be covered by the program. JobTrainer for employers The JobTrainer package has expanded the number of businesses that can access the 50% apprentice wage subsidy and extends the subsidy until 31 March 2021 (from 30 September 2020). Now, businesses with under 200 employees can access the subsidy for apprentices employed from 1 July 2020. Employers will be reimbursed 50% of an eligible apprentices wage up to a maximum of $7,000 per quarter per apprentice. Employers will be able to access the subsidy after an assessment by the Australian Apprenticeship Support Network. You will need to provide evidence of wages paid to the apprentice. If the business subsequently is unable to retain the apprentice, another business can access the incentive if they then employ and pay wages to the apprentice. Final claims for payment must be lodged by 30 June 2021.

11.01.2022 Secret Plans and Clever Tricks Invest Your Tax Refund Cheque. Lets assume you usually receive a $2,000 refund. Considering the $1,080 tax offset most taxpayers receive when lodging their tax return, this is a very conservative estimate. Here is a link to Noel Whittakers stock market calculator https://www.noelwhittaker.com.au//calculators/stock-marke/ I you invested in $2,000 in October 2014 by Oct 2019 you would have $3,200, close to 10% return per year. Bu...t wait there is more. If you continued to invest $2,000 for the next 4 years, that is $10,000 in total you would have from Oct 2014 to Oct 2019 $12,176 plus dividends. Nice bit of compulsory savings there too. Here is a link to Noels compounding calculator https://www.noelwhittaker.com.au//compound-interest-calcu/ Now you may say using October avoids the COVID shock but we havent got to Oct 2020 yet. Nevertheless, if you look at a 5 year period that takes in the COVID shock such as May 2015 to May 2020 $2,000 invested in May 2015 would in May 2020 be worth $2,460. But wait there is even more for that 5 year period you would also have been paid dividends! You dont even need a financial planner to get this market average, just use an indexed fund such as Vanguard. Here is an article by Noel Whittaker about indexed funds https://bantacsfinancialsolutions.com.au/Nb/indexed-funds/

11.01.2022 Monday Money Talk with Noel Whittaker One of the most memorable things about the Queensland state election campaign has been Clive Palmer’s full-sized advertise...ments warning a death tax could be Labor’s plan. Apparently the advertisements did frighten a lot of people, so let’s look at whether a death tax is likely in the near future. Let’s get real. Going to an election with a policy of bringing in death duties would be highly risky for any party. But there are situations already occurring in which a tax on death can occur. If you cast your mind back to the 2019 Federal election, Labor went to the voters with a proposal to abolish the refund of franking credits for everybody except age pensioners. At the time I wrote that this had the potential to be a tax on widows, because of the difference between the pension assets test cut-off points for a couple and a single. If a couple had assets of $700,000 and were receiving a pension of $13,700 a year between them, the survivor would lose their pension on their partner’s death, because the cut-off point for a single pensioner is just $583,000. Yes, under that proposal, the survivor would have lost the entire age pension, and their franking credits, as well their life partner. But the proposal sank like a stone at the polls. There are two other areas where death can create a tax situation. The first is superannuation remember that the taxable portion of your superannuation currently suffers a death tax of 17% if left to a non-dependent. This may not be relevant to a couple, because a partner is automatically classed as a dependent under superannuation rules, but it has huge implications for a single person. In the normal course of events, by the time people pass away their children have long ceased to be dependents, so any superannuation they inherit is subject to this tax. Of course, it is easy to avoid, as long as you have at least one trustworthy person you are close to. The person with the superannuation just needs to execute an Enduring Power of Attorney with instructions for the attorney to withdraw their superannuation tax-free and deposit it in the member’s bank account if death becomes imminent. The other existing tax often associated with death is capital gains tax. In most cases death does not trigger CGT, it transfers the liability to the beneficiaries of the estate, who will be liable for CGT when they dispose of the asset. Let’s suppose your parents owned a bundle of CSL shares which they bought 10 years ago for just $10 each, and which are now worth over $300 each. If they died tomorrow and left those shares to you, you would be able to receive them free of CGT. But the moment you disposed of them, your CGT would be calculated from the original cost that the deceased paid for them, and you would be liable for CGT on any increase in value over that $10. So there are definitely situations where death can trigger a taxable event. Notice though, that all the examples above relate to Commonwealth legislation, which has nothing to do with what any state government may decide to do. But bringing in a death tax would not be easy. In the late 1970s Queensland Premier Sir Joh Bjelke-Petersen abolished death duties in Queensland, and this action was quickly followed by all the other states, as it would be impractical to have death duties in some states and not in others. And there is one more issue you can’t have death duties without imposing gift duty as well. Otherwise, people close to death would simply give their assets away to avoid a tax on the estate. Our tax system is continually under review, but I reckon that death duties will stay in the too hard basket for many years to come. Noel Whittaker is the author of Making Money Made Simple and numerous other books on personal finance. [email protected]

11.01.2022 More Money For Qld Small Business There is another round of grants available to help Queensland businesses adapt. Applications open 9am Wednesday 1st July, 2020. More information here. https://www.business.qld.gov.au//advice-su/grants/adaption

09.01.2022 Systematic problems at the ATO with the Cash Flow Boost: We have struck the following problems, more than once, so it appears to be part of the training the ATO has given to at least some of its staff, who are dealing with cash flow bonus assessments. The following reasons they use to deny access to the bonus are not correct: 1) Not registered to be an employer before 12th March, 2020 2) Did not have a significant drop in turnover. This one is particularly unnerving becaus...e they are, incorrectly, comparing the December BAS with the March BAS which is before most of the effects of the lockdown flowed through. Nevertheless, the drop in turnover test only applies to jobkeeper not the cash flow boost 3) Employee needs to have been on your books before 1st March, 2020. To the contrary you could employ someone now and qualify for the $20,000 cash flow boost. Now of course the legislation does not list the tests you do not have to meet but it does list those you do have to meet, very clearly at item 5 here https://www.legislation.gov.au/Details/C2020A00023 Dont miss out on your share!

09.01.2022 No Need To Let a Border Get Between You and a Great Tax Refund We also do mail ins and virtual tax returns over zoom. https://www.bantacs.com.au/topics/mail-in-tax-returns/ https://www.bantacs.com.au/virtual-tax-returns/

09.01.2022 Time to Get Your Estimates In! If you are receiving jobkeeper payments it is time to notify the ATO of your June turnover and expected turnover for July. For the full detail on this go to https://bantacs.com.au/Jblog/coronavirus-stimulus-package/

09.01.2022 When will my income be low enough not to have to lodge a tax return? If you are 67 or older and single you do not have to pay tax until your income reaches $33,088. This amount is lower if you are a member of a couple as the Senior Australian Tax Offset is less for members of a couple. If a couple, both 67 years or older manage to split their income exactly equally, they can have up to $29,783 taxable income each before they pay tax. Anyone else who is 18 yea...rs of age or over or under 18 but working full time does not have to pay tax until their income reaches $21,884. Just because you dont have to pay tax does not mean you dont have to lodge a tax return. If you have had tax installments deducted from your wages, bank account or Centrelink payments, you will still need to lodge a tax return to have these amounts refunded. You may also have to lodge a tax return for Centrelink or Child Support purposes. If you have received dividend or managed fund income you are probably entitled to a refund of your franking credits. You do not need to lodge a tax return to achieve this. You can apply through Mygov or complete this form https://www.ato.gov.au//Application-for-refund-of-franking. This financial year the ATO is trialing an automatic refund of franking credits for pensioners. This will only be successful if all the companies you invest in report your dividends to the ATO, so please check the amount you receive. It is very unlikely to work for investments in managed funds so if your franking credits are through managed funds it is best that you still lodge yourself. See more

08.01.2022 1 Tonners Need a Log Book If your vehicle has a pay load of 1 tonne or more then it is not a car and as such cannot use the km method. It is fine if it is used 100% for income producing purposes other than home to work travel but you will need receipts for everything you claim. If there is some private use of the 1 tonner then you will need a log book before you are entitled to any deduction at all! Let me tell you a story of a very successful ATO Auditor that was sent to Northern Queensland by the ATO and put up at the local pub. He entertained himself on the week end by sitting on the veranda writing down all the number plates of the utes that went past with grocery shopping in the back.

08.01.2022 Working Overseas Tax Trap If your company is offering you a secondment overseas get advice. The tax pit falls may not be worth it and certainly don't take their word for it that your overseas wages won't be taxed in Australia. But that is not the worst of it. It is the CGT consequences that could have a long term affect if you become a non resident for tax purposes. https://bantacs.com.au/Jblog/working-overseas-tax-trap/

08.01.2022 Live Alone? If you live alone but pay child support you still qualify for the family threshold of $180,000 before you are subject to the Medicare Levy Surcharge. Even though it is a family threshold, only your income counts towards it. Reference ITAA1936 Section 251V

06.01.2022 Fat Tax Refunds! It seems not all our clients are acting responsibly with their refund cheque. One, when asking how much he was getting back, explained, he just wanted to see if it would float. All our offices are taking the necessary COVID precautions but there are also many other ways to have your tax return prepared by a BAN TACS Accountant. In Person https://www.bantacs.com.au/aboutus/locations/... Through the Mail https://www.bantacs.com.au/topics/mail-in-tax-returns/ Zoom Meeting and electronic signing https://www.bantacs.com.au/virtual-tax-returns/ See more

06.01.2022 Newsflash 353 Is Out Now! Of course it has all the latest for Jobkeeper and the Cash Flow Bonus but also now writing about the fast approaching end of the ...financial year and what you need to do. Big announcements - we have a new office at Bankstown NSW and have begun to provide an on line tax return service through zoom. https://www.bantacs.com.au//uplo/2020/06/Newsflash-353.pdf

05.01.2022 Virtual Tax Returns - No PPE Required! Our 13 offices Australia wide are still open for business offering personal services in a COVID aware environment. But we have introduced a great alternative!. Preparing your tax returns via a zoom meeting and using electronic signatures. This process is as simple as clicking on an email link we send you. Still the same personal service just on on your computer screen. You can still use your local office and see the same Accountant you have always dealt with. And of course we welcome new clients from anywhere in the world. For more information and a short video showing you how the process works go to https://www.bantacs.com.au/virtual-tax-returns/

05.01.2022 Just a heads up - The $150,000 immediate write off only applies to businesses. Read the fine print on all the advertising going on at the moment to buy buy buy. Individual workers and property investors are only entitled to an immediate write off for items costing $300 or less.

04.01.2022 Making your own Super Contribution before 30th June? Our blog on the process has been updated for 2020 https://bantacs.com.au//how-to-make-your-own-super-contr/

03.01.2022 Monday Money Talk with Noel Whittaker Once again, compulsory superannuation is back on the agenda. Recently I debated an economist about this topic, and we had ...radically different views. He took the line that a lower paid worker was much better off having the 9.5% employer superannuation in their pocket to spend now, or possibly put towards buying a house. He made the point that one of the best ways to have security when you retire is to have a paid-off house. I have no argument with that its stating the obvious. Lets run the numbers using a person aged 40, earning $45,000 a year, with $75,000 in superannuation all paid for by the employer. They would currently be receiving employer superannuation of $4,275, less 15% contributions tax, for a net amount of $3,263 paid to super each year. If that money was paid to them, instead of into super, they would receive an extra $2,961 a year, or $57 a week after tax. So, the argument boils down to whether they are better off to have $57 a week in hand or annual contributions to super of $3,263. First, we need to take into account human nature the reality is that the majority of Australians spend whatever they get paid, and invest nothing, unless they have compulsory commitments such as loan repayments. To make it worse, 50% of Australians live payday to payday, which was demonstrated by their behaviour when they were allowed to access up to $20,000 from superannuation due to the coronavirus crisis. Our lowest paid workers have just received a pay rise of thirteen dollars a week, which you can bet will be spent in full, and there is little doubt that an additional increase in take-home pay $57 a week would go the same way. If there was no employer superannuation they would end up at retirement with nothing. Now lets run the numbers on superannuation using the Super Contributions Calculator on my website, www.noelwhittaker.com.au. Well use the same assumptions: age 40, superannuation balance $75,000, salary $45,000 a year indexed at 2% and estimated rate of return on the superannuation fund of 7.5%. Thanks to the magic of compound interest they would have $770,000 in their superannuation fund at age 65. So a low income couple could retire with $1.5 million. Thats winning the jackpot! When teaching children about money, we often use the metaphor of the ice cream and the bicycle. Would you rather spend your money on an ice cream today, or save up for a bicycle in the future. Its the same with compulsory superannuation. Would you rather have $57 a week now, or $770,000 when you retire? I think the figures speak for themselves. Noel Whittaker is the author of Making Money Made Simple and numerous other books on personal finance. [email protected]

02.01.2022 Happy New Year! Forget about celebrating the calendar year, the real fun is in your tax refund cheque. If you have had a bad year there is even a better chance of a good refund due to the inconsistency of your income. Our offices are taking all the necessary COVID precautions but there are also many other ways to have your tax return prepared by a BAN TACS Accountant. In Person https://www.bantacs.com.au/aboutus/locations/... Through the Mail https://www.bantacs.com.au/topics/mail-in-tax-returns/ Zoom Meeting and electronic signing https://www.bantacs.com.au/virtual-tax-returns/ See more

02.01.2022 How is your Business Coping with the COVID shutdown? If you are one of the lucky ones that benefit but do not have employees, this is the month to consider employing. You may be a courier driver that suddenly has more parcels to deliver or due to you own health issues may prefer to employ than face the public yourself. If you are considering employing when you havent before then this month, June, is the time to do it. There is effectively a minimum of $20,000 subsi...dy. So here is the Thing! The cash flow bonus pays a minimum of $15,000 in July and $5,000 in October to any active business that has employees at any time during March, April, May or June 2020. If you had an ABN at 12th March, 2020 then you will qualify for this if you legitimately take on a staff member and your business is still active in July, 2020. If you already have employees then you should automatically receive this. For more details read the cash flow bonus section of https://bantacs.com.au/Jblog/coronavirus-stimulus-package/

01.01.2022 Budget Bites - Out Now This blog condenses the budget into less than 2000 words but is not short on detail. We have just removed the bits that are not relevant to our clients. https://bantacs.com.au/Jblog/budget-bites/#more-679