Baran Accounting Services in Lidcombe, New South Wales | Accountant

Baran Accounting Services

Locality: Lidcombe, New South Wales

Phone: +61 415 234 242

Address: 3/70 Jellicoe Street 2141 Lidcombe, NSW, Australia

Website: http://baranaccountingservices.myob.net/

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24.01.2022 FOR MORE INFORMATION For more information on the Australian Government’s Economic Response to the Coronavirus visit treasury.gov.au/coronavirus. Businesses can visit business.gov.au to find out more about how the Economic Response complements the range of support available to small and medium businesses.

23.01.2022 Is your business eligible for the JobKeeper package? The government has announced a wage subsidy package which will include a $1,500 a fortnight job keeper allowance to enable businesses to keep their workers on their payroll through the coronavirus epidemic.... To receive the JobKeeper Payment, employers must: Have experienced a downturn of more than 30% Register an intention to apply on the ATO website to assess if you are eligible Provide information to the ATO on eligible employees Ensure that each eligible employee receives at least $1,500 per fortnight (before tax) Notify all eligible employees that they are receiving the JobKeeper payment from May

15.01.2022 First home super saver scheme The first home super saver (FHSS) scheme was introduced by the Australian Government in the Federal Budget 201718 to reduce pressure on housing affordability. The FHSS scheme allows you to save money for your first home inside your super fund. This will help first home buyers save faster with the concessional tax treatment of superannuation.... Note: Changes have been made to the First home super saver (FHSS) scheme. The changes apply retrospectively to valid FHSS release requests and contracts entered into on or after 1 July 2018. For further information on the changes, see Important changes to the First home super saver scheme. Note: Our systems will be unavailable from 12:00pm AEDT 24 December 2019 to 6:00am AEDT 2 January 2020 as a result of ATO system improvements. If you require a FHSS determination or release request during this time you will need to complete the paper form: You must request a FHSS determination before you sign a contract. A release request can be made up to 14 days after signing a contract.

14.01.2022 Backing business investment now law On 24 March 2020, the Coronavirus Economic Response Package Omnibus Bill 2020 received royal assent. This forms part of the government's measures to support businesses to withstand and recover from the economic impact of COVID-19. This package includes the backing business investment measure, which allows eligible businesses to accelerate their depreciation deductions on the purchase of certain new depreciating assets.... To be eligible for accelerated depreciation: the business must have an aggregated turnover of less than $500 million the asset must be a new depreciating asset acquired and first used, or installed ready for a business use, from 12 March 2020 until 30 June 2021 the business must not have already applied other depreciation deductions or the instant asset write off. You apply accelerated depreciation by deducting 50% of the cost (or adjustable value where applicable) of the depreciating asset. You then add the amount of the usual depreciation deduction but calculated after first offsetting a decline in value of 50%. Alternatively, you may choose to apply the instant asset write-off, if the asset costs less than $150,000.

02.01.2022 The Government’s Coronavirus Economic Response National Tax & Accountants’ Association Ltd: March 2020 1 Government announces increased tax benefits in response to the Coronavirus The Government has announced its economic response to the Coronavirus in the form of a $17.6...Continue reading