BlueWater Business Solutions in Perth, Western Australia | Tax preparation service

BlueWater Business Solutions

Locality: Perth, Western Australia

Phone: +61 401 144 590

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• Tax preparation service
• Financial service

25.01.2022 Finally, no need to keep shoe-boxes of receipts!

23.01.2022 How is working from home going for you? Here are three things to note when it comes to tax deductions and working from home: 1. You must have spent the money yourself and not been reimbursed for the expense.... You can claim the decline in value for office equipment, the phone/internet, stationary etc. 2. Costs must directly relate to earning your income. So you may be able to claim a deduction for heating, cooling, lighting for instance 3. You must have a record to prove your claim. We suggest keeping all receipts or other written evidence; or diary entries for a representative 4-wk period (shows your usual pattern of work from home, i.e. the equipment, phone and utility usage etc), diary entries could be kept to record small expenses where no receipt available and itemised phone/internet accounts are advisable.

19.01.2022 Here is a summary of some noteworthy financial incentives that the Australian Government and other financial organisation’s are providing to aid individuals and entities through the current crisis: Proposed increase to the instant asset write-off from 30k to 150k - Small Business Businesses with a turnover of less than $500 million will be able to deduct an additional 50 per cent of the asset cost in the year of purchase... Deferral of paying existing tax liabilities, quicker GST refunds, refunds of PAYG (Sept to Dec 19), remission of interest/penalties Assistance for employers - up to 25k per year on PAYG withholding for employees - Small Business https://www.ato.gov.au//the-australian-government-s-econo/ $750 lump sum payment from 31 Mar to mid April - for eligible individuals https://www.servicesaustralia.gov.au//750-one-economic-sup Australian Apprenticeship Support Provider 50% of trainees wages reimbursed Small Business https://www.australianapprenticeships.gov.au/node/3939 Australian Banks are offering relief packages to small business and private borrowers alike - for instance 6-months deferred repayments, fee-free facilities etc. https://www.ausbanking.org.au/banks-small-business-relief-/ Reserve Bank of Aust. have decreased interest rates to a record low of 0.25% in attempt to stimulate the economy Not directly related to the crisis, but noteworthy few banks are offering lump-sum (cash) of up to $4000 to refinance your current loan.

15.01.2022 The March 2020 quarter is finally over!! That means BAS time for some business owners, and organisation is important. Please consider the following: Ensure your data is entered into your accounting program (if you have one) Reconcile your bank transactions (allocate to an expense/income) Record any cash receipts and payments... Record any large asset purchases Summarise your total income and expenses Reconcile wages/tax-withheld if managing employees *Note - Review PAYG instalments - consider variations given current ATO concessions Lodgement due-date 28 April 2020 (extensions are available due to the current climate)

14.01.2022 For those working from home: the ATO have provided an hourly claim for all your expenses including phone, internet, heating, cooling, electricity etc at 80 cents per hour. This temporary rate is currently from 1 March 2020 until at least 30 June 2020!

13.01.2022 Summary from the Australian Taxation office on measures available to assist you...

12.01.2022 Dreaming of that day we can travel again! For now; let’s talk about getting our finances in-check towards achieving our goals! Please read on....... EOFY can be a busy time for most! Consider these options and opportunities before 30 June:- * are your superannuation contributions deductible? * could you take advantage of the superannuation guarantee amnesty? * review your capital expenditure (with up-to $150,000 eligible for instant deduction) * review your stock levels * address your trust distributions * defer income, or pre-pay your expenses * review potential capital losses * arrange an appointment with your tax advisor early July!

09.01.2022 Just announced: Businesses who have employees continue to be supported by the Federal Government with $1500 per employee as a fortnightly wage subsidy. For more details, read the link: www.ato.gov.au/general/gen/JobKeeper-payment

08.01.2022 With less than a month before the financial year comes to a close, consider your tax planning now. Individuals and businesses alike could benefit from the range of unique opportunities available. See link for a checklist to get organised: http://www.bluewaterteam.com.au/client-checklist/

06.01.2022 Hi I'm Allen, your local, friendly Accountant. I specialise in Tax, Self-Managed Super and Business Advisory, located in Salter Point.

05.01.2022 Applications are now open for the Early-Release of Superannuation (due to virus impact) for eligible applicants. You can complete this process through MyGov to potentially access up to $10,000 tax-free between now and 30 June. You may also be able to access a further $10,000 after 01 July. Contact us on 0401 144 590 if you have any queries.... Regards The BlueWater Team

01.01.2022 Have a safe and joyful Easter-weekend with your treasured ones! It’s going to be full of sunshine in WA, and hopefully some chocolate for one and all!