Bottom Line Control in Coolum Beach, Queensland | Business consultant

Bottom Line Control

Locality: Coolum Beach, Queensland

Phone: +61 7 5471 7077

Address: Shop 13 Pacific on Coolum 21 Birtwill Street 4573 Coolum Beach, QLD, Australia

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

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24.01.2022 Tax Myth No. 9 I’ve got a capped phone plan, so I can claim both personal and private phone calls. Fact: Unless you only use your phone for work, you will have to apportion the cost between business and private usage and only claim the work-related portion of your expenses. ... In the dark about how and what to claim on your tax? Top 10 Tax Myths Busted here - http://bit.ly/2RTSSVQ

24.01.2022 Tax Myth No. 6 I can claim my work clothes because my boss told me to wear a certain colour. Fact: Unless your clothing is a uniform that is unique and distinct to your employer or protective or occupation-specific clothing that you were required to wear to earn your income you, won’t be able to claim it. Plain clothes, like black pants, are not deductible even if your boss told you to wear them. ... In the dark about how and what to claim on your tax? Top 10 Tax Myths Busted here - http://bit.ly/2Quccwb

22.01.2022 The ATO has its eye on your assets + The pros and cons of SMSF according to ASIC - https://mailchi.mp//smart-watches-fine-art-and-why-you-sho

22.01.2022 Seven Ways To Look After Your Well-Being While Working Remotely Many of you will currently be working remotely as our organisations bring into place ‘social distancing’ measures. While these measures are essential for public health, the World Health Organisation (WHO) has acknowledged that they can also impact the well-being of those who are in these situations. I have worked on my own for several years now and understand intimately the impact it can have. Here are seven ways...Continue reading

22.01.2022 Zombies, Jail time & JK2 - Welcome to a post-COVID world - https://mailchi.mp//smart-watches-fine-art-and-why-you-sho

19.01.2022 Happy New Financial Year! - https://mailchi.mp//smart-watches-fine-art-and-why-you-sho

18.01.2022 With so much uncertainty it’s hard for the business owner to know what to do or where to turn. I’d like to offer some practical advice so your business has every chance of surviving. Immediate Actions Things you should consider doing immediately; Your bank may defer loan repayments for small businesses affected by COVID-19 for six months. See what your bank as to offer https://www.ausbanking.org.au/banks-small-business-relief-p Employees It’s really important to know yo...ur employees rights and how much you need to pay them. CCIQ (Chamber of Commerce & Industry QLD) have provided important information for managing your workplace, outlining; employer obligations, working from home, business shutdowns and more, to help with your ongoing business operations. CCIQ have some excellent resources they’re making available to non-members click here to go to the website Administration concessions If you have existing Tax Office debts, they may remit any interest and penalties, incurred on or after 23 January 2020; and allow affected businesses to enter into low-interest payment plans for their existing and ongoing tax liabilities. Importantly, assistance measures will not be implemented automatically by the ATO. Therefore, anyone impacted by COVID-19 is required to contact the ATO Emergency Support Infoline 1800 806 218 when they are ready to request assistance. Reduce costs and unnecessary expenses go over your businesses profit and loss in detail and look for savings. If we do your BAS, a Management report up to December has been emailed to you. All our XERO clients have access to their accounting and can drill down to see what they are spending. Contact our office if you need assistance with this process. Rent and outgoings - Lord Mayor Adrian Schrinner has announced Brisbane City Council will waive all charges, rents, levies and permit fees effective immediately for all businesses. Possibly lobby your landlord, Local Council to do the same. Sole Traders maybe able to access New Start The Stimulus Packages includes, cashflow injections for small business, loan guarantees, accelerated depreciation. Little detail has been provided, but as information comes to hand, I’ll be working with clients to ensure they access everything they are entitled to. It will be more important than ever to have a pre financial year end catch up. The bottom line is, we need to remind ourselves these tumultuous times will pass. Things may never be the same, but we need to comfort ourselves and family we’ll come through it.

17.01.2022 We’ve been concerned whether you as a business owner would qualify for the JobKeeper Payment of $1,500 per fortnight if you are not paid salary or wages. Of course, a significant number of small business owners are in that position they receive income as a partner or by way of trust distributions or dividends, rather than as salary or wages. The eligibility of those business owners for the JobKeeper Payment has now been clarified. According to the updated Treasury Fact She...et: Businesses without employees will be eligible to receive one JobKeeper Payment, and businesses with employees can receive one payment in addition to the payments for their eligible employees. This means that: where the business operates through a sole trader structure one owner can be nominated to receive the JobKeeper Payment; where the business operates through a partnership one partner can be nominated to receive the JobKeeper Payment; where the business operates through a company one director can be nominated to receive the JobKeeper Payment; where the business has shareholders who provide labour to the company and receive dividends in lieu of wages one such shareholder can be nominated to receive the JobKeeper Payment; and where the business operates through a trust one individual beneficiary (that is, not a corporate beneficiary) can be nominated to receive the JobKeeper Payment. It will still be necessary for relevant businesses to satisfy the other necessary criteria to qualify for the JobKeeper Payment, including the requisite fall in turnover of at least 30%. And it seems that the above rules will not apply in relation to the Cash Flow Boost payments eligibility for those will still depend on payments that are subject to the PAYG Withholding regime, whether payments to business owners or others. Businesses potentially qualifying for the JobKeeper Payment should register on the ATO website. The updated Fact Sheet from Treasury is available at https://treasury.gov.au//Fact_sheet-Support_for_sole_trade

16.01.2022 I found this notation on a clients credit card statement. It's probably not a good idea to pay the minimum payment or your credit card, I'm sure your great, great, great grand kid's don't want to inherit your debt.

15.01.2022 Tax Myth No. 10 If I use a tax agent, they will take responsibility for my claims. Fact: Even if you use a tax agent, you are ultimately responsible for ensuring the information in your return, including the deductions you claim, is correct. You cannot transfer that responsibility to your agent so make sure you give them complete and accurate information.... In the dark about how and what to claim on your tax? Top 10 Tax Myths Busted here - http://bit.ly/2RUvfMI

14.01.2022 Steps to mindfulness.

12.01.2022 I've recently reconnected with our local chamber of commerce, actually I'm the treasurer {again}. We're doing a lot of great stuff for our local economy, making Coolum a greater place to work, live and play.

12.01.2022 We are proud to announce the launch of GuestTrack - a new, FREE application to help businesses (restaurants, cafes, offices, schools, sporting clubs, etc) colle...ct and store the data required by governments in the current COVID-19 environment. www.bglcorp.com/guesttrack What is GuestTrack for? To reopen, many businesses are required to collect and store customer, employee and contractor information including name, email address and mobile number. This information will help authorities trace any COVID-19 infections if they occur at your premises. The way the information is collected and stored must also comply with privacy laws and time limits. Who is GuestTrack for? We have developed GuestTrack for any business that needs to collect customer, employee and contractor data. It makes it easy for businesses to meet their obligations in a COVID-19 environment while providing their guests with a sensational experience! Why BGL? COVID-19 has had (and continues to have) a devastating effect on families and businesses across Australia. During tough times like this, it's important we work as a community to help each other. So, as a well-known and trusted developer of software, we used our knowledge and experience to develop an application to help businesses simplify the collection and storage of customer data. Helping you to help your clients GuestTrack is a simple and easy to use application for businesses and for their guests. We hope this initiative will help to relieve some stress for your clients. Know a business that would benefit from GuestTrack? Share it with them today! www.bglcorp.com/guesttrack #smallbusiness #business #COVID19

12.01.2022 Queensland Small Business Week (QSBW) 2019 will run from Monday 27 May to Friday 31 May 2019. As part of the program there are Small Business Grants available to assist eligible individuals or organisations with grants of up to $5,000 (excluding GST) for events and activities, run during QSBW 2019, that deliver transformative impacts for small business. Apply for the grant

11.01.2022 Tax Myth No. 7 I can claim my whole Netflix or Foxtel subscription because I need to keep up to date for work. Fact: Unless you only use your subscriptions for work purposes, you will have to apportion the cost between business and private usage, and only claim the work-related portion of your expenses. You will also need to be able to show a strong connection between earning your income and the subscription. ... In the dark about how and what to claim on your tax? Top 10 Tax Myths Busted here - http://bit.ly/2QqFags

10.01.2022 Cars and Coffee lovers are back on the road Doesn't matter what type of cars you're into, they have them all at the Cars and Coffee meet up; Classics, British, German, Holdens, Fords, Pick-up trucks, Hot Rods old and new. The event has been held on the first Saturday of the month in the Coolum Industrial Estate, It’s an informal meet up where anybody with an interesting car just turns up to show off their pride and joy. Car clubs too make it a meet up location, so there could... be a dozen or more Merc’s, MG’s, Fords or Austin Healeys, you never know who is going to be there. One of Coolum’s hidden gems is the car museum located at Junction Drive in Coolum Industrial Estate. Local Solicitor, Mr Frank Carroll, opens up his private car museum and The Henry Royce Foundation as well on the day. Between them, they have over 30 unique cars including; a 1926 Rolls-Royce ‘Twenty’ with eye-catching body, 1979 Pontiac Firebird ‘Formula’ Targatop, 1923 BSA motorcycle with side-car, a nice 1924 Chevrolet (with a very early Holden body). Merlin aero-engine made famous by the legendary WWII Spitfires as well as five notable Rolls-Royce engines. The event has only just started back last month since closing down due to Covid-19. The next event will be held 7 10am 1 August 2020, at the German Bakehouse 54 Junction Parade, Coolum Industrial Estate and the Car Museum two doors down. See more

10.01.2022 Who's ready for our last Cars & Coffee - Sunshine Coast of the year ?!?! We have some incredible cars lined up for you to drool over! On Saturday December 7th, ...we are extending our hours from 7am -11am to help out the 60+ people attending our event from Mercedes-Benz Club QLD Australia. Thank you to all of our regular attendees and participating Car Clubs for making our first year possible! Special thanks to Frank Carroll for showcasing his phenomenal private car collection as well as providing access to the Sir Henry Royce Foundation by gold coin donation. Thank you to Classic Pick-Up Supplies for opening on a Saturday in conjunction with our Cars & Coffee, and to Noosa Beach Classic Car Club for co-hosting our November event. Also, special thanks to Coolum and North Shore Advertiser and ABC Sunshine Coast for their continued support in advertising these events with wonderful interviews and articles.

09.01.2022 "In 18 months, that's when our business stops and 26 people will lose their jobs...." Will the recommendations in the banking royal commission benefit the big b...anks? Finance broker John McNamara believes they will as he worries about the future of his business and his 26 staff after the report was handed down yesterday. One of the key recommendations is for an end to finance brokers receiving a commission from banks for giving their advice. Mr McNamara said when this was implemented "that's when our business stops". "We are hoping common sense prevails. A young person used to go the branch for advice, but there are no bank managers these days, they used to go to us." He has been hoping politicians wouldn't intervene and finance broker businesses "aren't ruined". "In 18 months the commissioner wants some of the commission stamped out. Are the banks going to give consumers a return because of this? Will they reduce interest rates? "It's why we had a royal commission, because we couldn't trust the banks. "This is also a blow for the small lenders. It really does benefit the big banks. "It reminds me of when mum and dad had a hardware store and then the big hardware stores took over." People looking for a home loan were also going to find it harder. "A 25-year-old getting his first loan will now have to pay application fee of between $2000 to $2500."

08.01.2022 It's now easier than ever to put more money into your nest egg. You may be able to claim a tax deduction for personal super contributions that you made to your super fund from your after-tax income, for example, from your bank account directly to your super fund. Before you can claim a deduction for your personal super contributions, you must have given your super fund a Notice of intent to claim or vary a deduction for personal contributions form (NAT 71121) and received an ...acknowledgement from your fund. There are other eligibility criteria that you must meet. People eligible to claim a deduction for personal contributions include people who get their income from: - salary and wages - a personal business (for example, people who are self-- employed contractors, or freelancers) - investments (including interest, dividends, rent and capital gains) - government pensions or allowances - super - partnership or trust distributions - a foreign source. The personal super contributions that you claim as a deduction will count towards your concessional contributions cap which is currently $25,000. You cannot claim a deduction for superannuation (super) contributions paid by your employer directly to your super fund from your before-tax income such as: - the compulsory super guarantee - salary sacrifice amounts - reportable employer super contributions shown on your - - annual payment summary.

08.01.2022 How to stay ahead in a struggling retail market The struggling retail market has had a tough few years with many iconic Australian retail brands failing under the ongoing pressure. Investing in expert help is just smart business, whether you’re a startup or if you’ve been around for years. Outsourcing the jobs which are not within your skillset frees up your time to concentrate on what you’re great at.... Read the blog - http://bit.ly/2FU9GbF

07.01.2022 Join us at the Coolum Business & Tourism October Social Evening and be treated to a sneak peek of Coolum Theatre Player's new production "We will rock you!" Date: Wednesday, 23rd October Time: 6:00pm - 8:00pm Location: Coolum Civic Centre https://www.trybooking.com/BFOVJ

07.01.2022 ACCESSING YOUR SUPERANNUATION From 20 April 2020, people affected by the COVID-19 pandemic may be eligible to apply to access up to $10,000 of their super in 2019-20 and a further $10,000 in 2020-21. Follow these steps before you decide to withdraw any super... 1. Check you are eligible 2. Know all your options 3. Check your current super balance 4. Consider impacts on your insurance 5. Calculate the impact on your retirement savings 6. Find additional help if you need it 1. Check you are eligible You can apply to access your super if you meet one or more of the following requirements: you are unemployed you are eligible to receive a job seeker payment, youth allowance for jobseekers, parenting payment (which includes the single and partnered payments), special benefit or farm household allowance on or after 1 January 2020, either you were made redundant your working hours were reduced by 20 per cent or more If you are a sole trader, your business was suspended or there was a reduction in your turnover of 20 per cent or more If you meet these requirements and decide to withdraw super, you won't pay tax on super you withdraw. It won't affect Centrelink or Veterans’ Affairs payments. If you decide to withdraw some of your super You can register your interest today through myGov. Applications open 20 April 2020. People who are eligible will be able to apply online (through myGov) to access up to $10,000 of their super between 20 April and 30 June 2020. Applications to access up to a further $10,000 will be open from 1 July until 24 September 2020.

07.01.2022 Every time we are introduced to someone new, try to be creative, or start a difficult conversation, we take a risk. We feel uncertain and exposed. We feel vulnerable. Most of us try to fight those feelings - we strive to appear perfect. In an organizational culture where respect and the dignity of individuals are held as the highest values, shame and blame don’t work as management styles. There is no leading by fear. Empathy is a valued asset, accountability is an expectatio...n rather than an exception, and the primal human need for belonging is not used as leverage and social control. We can’t control the behaviour of individuals; however, we can cultivate organizational cultures where behaviours are not tolerated and people are held accountable for protecting what matters most: human beings. We won’t solve the complex issues that we’re facing today without creativity, innovation, and engaged learning. We can’t afford to let our discomfort with the topic of shame get in the way of recognizing and combating it in our schools and workplaces. The four best strategies for building shame-resilient organizations are: Supporting leaders who are willing to dare greatly and facilitate honest conversations about shame and cultivate shame-resilient cultures. Facilitating a conscientious effort to see where shame might be functioning in the organization and how it might even be creeping into the way we engage with our co-workers and students. Normalizing is a critical shame-resilience strategy. Leaders and managers can cultivate engagement by helping people know what to expect. What are common struggles? How have other people dealt with them? What have your experiences been? Training all employees on the differences between shame and guilt, and teaching them how to give and receive feedback in a way that fosters growth and engagement.' 'Daring Greatly' by Brene Brown.

02.01.2022 We need an experienced accountant.

02.01.2022 Question: If the bank defers loan repayments for a period of time as a result of COVID-19, can I continue to claim interest on the loan as a deduction? Answer: Yes. If interest continues to accumulate on your loan, it will be an expense that you have incurred and is therefore deductible. Interest remains deductible on the loan even if the bank defers the repayments

02.01.2022 Tax Myth No. 8 I can claim home-to-work travel because I need to get to work to earn my income. Fact: for most of us, home to work travel is private since your boss doesn’t pay you until you get to work. There are limited circumstances where someone who has to transport bulky equipment can make a claim.... In the dark about how and what to claim on your tax? Top 10 Tax Myths Busted here - http://bit.ly/2RXObuc

02.01.2022 Wondering if your staff Christmas party & Christmas presents are tax deductible? The answer to this question depends on when and where you hold your Christmas party, who’s invited, and how much it costs per guest. Find out more - http://bit.ly/2Y7Mxdm

01.01.2022 I found an old presentation I gave to Coolum Chamber of Commerce back in June 2002. "During my research into our new business, I’ve come across some interesting predictions for the Sunshine Coast. . The State Development Office of Queensland suggest there are 245,000 people currently living on the sun coast, and it has been one of the fastest growing areas in South East Queensland, and it will continue to do so although at a slower rate. They estimate that over the next 9 y...ears there will be 90,000 migrants to the area, of which over half will be 40 or more years old. Which would equate to 4% growth per year. Which is greater than the nations forecasted economic growth." The Sunshine Coast population was only 303,300 in 2016, so very glad we didn't end up with the predicted growth, probably the GFC knocked it around. Covid will probably slow things down somewhat.

01.01.2022 Moratorium on genetic testing in life insurance Following extensive consultation with the life insurance industry and genomics community, the Financial Services Council (FSC) has approved Standard 11: Moratorium on Genetic Tests in Life Insurance allowing individuals to receive up to $500,000 of life cover without disclosing adverse genetic test result with effect from 1 July 2019. The moratorium will be included in the Life Insurance Code of Practice which is currently und...er review, meaning it will have independent oversight by the life code compliance committee who will have the power to sanction members who do not comply. The moratorium will be regularly reviewed to support scientific research and genetic inclusion, while protecting the interest of the wider community who have life insurance. The moratorium: is operative until at least 30 June 2024 will be reviewed in 2022 with a view to extending the end date, the financial limits and any other required changes, and allows consumers to choose to disclose a favourable genetic test result. Cover limits are as follows: $500,000 of lump sum death cover $500,000 of total permanent disability cover $200,000 of trauma/critical illness cover, and $4,000 a month in total of any combination of income protection, salary continuance or business expenses cover. These levels of cover compare favourably with other countries, being closely aligned to Switzerland and Germany, and significantly higher than Sweden and Holland. Australia is now the only country in the world outside the United Kingdom where a favourable genetic test result can be disclosed, but an adverse result does not have to be. Unlike the United Kingdom, in Australia genetic pre-disposition is a protected attribute under the disability discrimination act, which means there is oversight and recourse through the courts. Source: FSC media release, 26 June 2019