Bridgland & Co | Professional service
Bridgland & Co
Phone: +61 2 8090 4112
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25.01.2022 Another tranche of assistance packages was announced last night, the main points are summarised below For employers The BAS credits have been doubled re PAYG salary tax - I have updated the prior post to reflect the new percentages Small and medium business THAT EMPLOY SOMEONE will receive between $20k and $100k in additional cash to go towards operating expenses - again this won't help the sole traders out there. [ 239 more words ] http://bridglandblog.com/2020//23/further-covid-assistance/
24.01.2022 Well, we seem to have become the Accountant/Hand Rehab clinic recently. Both injuries are animal related. Kerri decided it would be a good idea to stick her hand down her large dog's throat to stop it from choking - resulting in various nerve and tendon damage. I fell off my horse, who had decided there were 4 strides before the jump, but I had already departed on three - resulting in a broken wrist needing a plate and screws. [ 29 more words ] http://bridglandblog.com/20//05/two-hands-make-light-work/
21.01.2022 The March 2020 BAS statements are starting to arrive, along with a deluge of client queries as to how to complete them in order to receive the government assistance. So here we go ...... Complete the BAS exactly the same as normal The ATO credit will happen automatically If you have paid employees in the quarter/month you will have figures at W1 gross wages and W2 tax withheld. [ 147 more words ] http://bridglandblog.com//completing-the-march-2020-bas-f/
18.01.2022 Another day, another support package. This time the JobKeeper Payment. Not yet legislated but soon will be, this is a great boost for casual workers & the self employed who may now be eligible for some $ - in some lucky cases more than they originally earned. However, this will increase administration for companies who already have heaps on their plate. [ 186 more words ] http://bridglandblog.com/2020/03/30/jobkeeper-payment/
13.01.2022 Have you seen this fantastic video on economics made easy? Check it out on the blog.
12.01.2022 The current market corrections are an excellent example of non-disciplined investors perhaps panicking in a falling market leading to selling low and, presumably at a later date, buying high. This is the absolute opposite of what you are supposed to do in order to make money, i.e. buy low, sell high. In fact what would make more sense is to courageously buy now! The link below explains the current market falls in more detail, including why we don't recommend selling at this time. Market Update CoronaVirus_March 2020 http://bridglandblog.com/2020/03/02/coronavirus/
11.01.2022 Further to my prior blog post about the first Corona Virus stimulus package, we now have a bit more detail about how those running a business can (or in some cases can't) make a claim. First the sole traders & freelancers among you. Well a very disappointing outcome for the sole traders of Australia, as you can't claim any cash at all. [ 336 more words ] http://bridglandblog.com//how-to-make-a-stimulus-package-/
08.01.2022 If you are a small business in NSW that has suffered a drop in turnover due Covid-19, you may be eligible for a small business grant of up to $10,000 Applications can be done on line. Check out this link for eligibility criteria and how to apply. Lindsay 0413 952180 http://bridglandblog.com/2020/04/28/covid-19-grants/
07.01.2022 Announced today, but yet to be passed, are the following proposals ....... Provide a one-off tax free $750 cash payment to income support recipients, such as age pensioners or Department of Veterans’ Affairs (DVA) income recipients, or holders of eligible concession cards. To be eligible, the person must reside in Australia and be receiving a listed payment or card on 12 March 2020. [ 138 more words ] http://bridglandblog.com/2020/03/12/stimulus-package/
06.01.2022 A few more details have been issued by the ATO in relation to the mechanics of the JobKeeper allowance. We are still waiting for some more details for sole traders and those running their business through trusts. In the meantime this is a quick wrap up of what all businesses (including sole traders and trusts) need to do. If your turnover has dropped, or you expect it to drop by 30%, then [ 353 more words ] http://bridglandblog.com/2020/04/16/jobkeeper-how-to/
02.01.2022 As proposed in the 2017 budget, the removal of the main residence CGT exemption for tax non-residents was legislated in Dec 2019 A rather draconian rule, the effect is that if you are tax non-resident on the date you sign the sales contract on your Australian property, you will not get any exemption at all for any days you may have previously used the property as your main residence, neither will you get 6 year exemption. [ 242 more words ] http://bridglandblog.com//non-resident-with-a-home-here-q/
02.01.2022 Due to popular demand, the following is a step by step list of how to perform single touch payroll. You may notice the name "thousand touch payroll" might be more apt! I have split it into two sections, first what needs to be done each payroll cycle and second what needs to be done each quarter. Each payroll cycle Post/allocate all bank transactions to the various income and expense accounts within your accounting software package [ 273 more words ] http://bridglandblog.com//02/07/single-touch-payroll-guide/