Buckley Accountants in Lithgow, New South Wales | Accountant

Buckley Accountants

Locality: Lithgow, New South Wales

Phone: +61 2 6351 2940

Address: 39 Railway Parade 2790 Lithgow, NSW, Australia

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

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• Tax preparation service
• Consultation agency
• Accountant
• Financial service

24.01.2022 For those that have been hit by the bush fires please see this link for financial assistance.

23.01.2022 In 2016, the Australian Taxation Office received 105,469 scam reports with 95 per cent being for the Fake Tax Debt telephone scam. More than $2.7 million was reportedly paid to scammers with 6,435 individuals divulging personal information to the scammers. The ATO have advised that there are some key differences between a legitimate call from the ATO and a call from a potential scammer.... For example, the ATO would never threaten you with immediate arrest; use abusive language and the ATO have a list of approved payment methods that can be viewed on their website. If you doubt the validity of a call, hang up and contact the ATO or your accountant, remembering we always put our phone number as the number for the ATO to contact you on, so if it hasnt come through us then its most likely a scam. The ATO also recommend suspicious emails purporting to be from the ATO should be forwarded to the ATO and deleted. Unfortunately unless the scam results in tax fraud, which most dont then the ATO cannot take any action against the perpetrators, but they can pass on the information to other government departments who maybe able to help.

23.01.2022 Its being brought to our attention that some people are posing as government employees to help people & businesses in these times. Its annoying when scammers are about at the best of times but now its really disgusting. The small/medium business assistance from the federal government is an automatic thing based on your March BAS & subsequent BASs, you dont need to apply for anything for this. ... Please if someone calls you offering advice & asks for bank details dont give them out, Ill send out information as I see it to all of my clients. If someone comes to you call me to check its real, Im here for everyone anytime. In the event of a total lockdown I will still be here, just with the door locked but you can call me, email me, message me.

22.01.2022 Monday 4th May is the deadline for all businesses registered for jobkeeper have to report their income to ATO to confirm eligibility for the jobkeeper payments.

22.01.2022 Didnt stay up for budget night, neither did I. For the next few days I will give you some information on items that may have been missed by main stream media: Downsizing exemption to superannuation caps From 1 July 2018, individuals aged 65 and over will be able to downsize their family home and place proceeds up to $300,000 per member into their superannuation fund without breaching any of the current superannuation caps, work test and age test. The measure will apply to a principal place of residence held for a minimum of 10 years. This means even if an individual has a total superannuation balance of $1.6 million or more they will not be restrained from making an after-tax contribution with their house proceeds. This exemption also extends to the annual after-tax contribution limit which is currently $100,000.

22.01.2022 Going to be working from home? There are a some deductions you can claim but you need to keep track of a few things to be able to claim them & you can bet your 4 pack of toilet paper the ATO will be looking at these in this years audit program. If you have any questions please give us a call.

21.01.2022 State and Federal Financial Support Wednesday 28 July 2021 Today the Prime Minister and NSW Premier have announced an expansion of the current financial support available for NSW business and individuals. ... Federal Government Support For individuals COVID-19 Disaster Payment will increase from: o $600 to $700 per week if a person has lost 20 hours or more of work a week o $375 to $450 each week if a person has lost between 8 and 20 hours of work. If the lockdown is ongoing, the payments will be recurring. For Businesses Sole Traders can receive $1000 per week Businesses can receive $1,500 to $100,000 per week - calculated based on 40% of the business’s payroll amount. o Entities will be eligible if their turnover is 30 per cent lower than an equivalent two week period in 2019. You will need to work with your accountant on this to evidence your decline. o To receive the payment, entities will be required to maintain their full time, part time and long term casual staffing level as of 13 July 2021 (head count of staff, not necessarily hours worked). When is it available? Businesses can apply now at Service NSW NSW Government Support Small Business Grants If you’re a business, sole trader or not-for-profit organisation impacted by the current Greater Sydney COVID-19 restrictions, you may be able to apply for a grant of up to $15,000 from 19 July 202 70%decline in turnover can access $15,000 50% decline in turnover can access $10,500 30% decline in turnover can access $7,500 Eviction Moratorium The NSW Government will also introduce a 60-day eviction moratorium and a land tax rebate for landlords who offer rent reductions. Micro Business Grant Small businesses or sole traders with annual turnover of more than $30,000 and under $75,000 impacted by the current Greater Sydney COVID-19 restrictions, may be able to apply for a grant of up to $1500 from late July 2021. When is it available? Application for the grants will be via Service NSW from July 19.

20.01.2022 Another scam doing the rounds.

20.01.2022 We will be upgrading a new server tomorrow afternoon (Friday 21st) so we will be closing the doors at 3pm.

20.01.2022 New SCAM doing the rounds, this time Service NSW is threatening Federal Court action from a mobile number 0400 029 425. I spoke to a lovely lady & she didn't quite like a few of my answers so she hung up on me. Service NSW will not call from a mobile number, they will also not provide you with a recorded voice message.

19.01.2022 Instant Asset Write Off $150,000 Threshold Extended to 31 December 2020. The treasury has announced that the instant asset write off threshold of $150,000 will be extended to 31 December 2020 instead of 30 June 2020. For any eligible capital purchase between 12 March 2020 and 31 December 2020 will be able to be fully depreciated under this extension.

19.01.2022 Entering in Jobkeeper Payments, here are instructions from xero & MYOB. https://help.myob.com//COVID-19+wage+subsidy+%28JobKeeper%

18.01.2022 MYOB Link now working

18.01.2022 The new JobKeeper Payment is available to help employers to retain their employees during these times. It is also available self employed people with no employees. You need to register with the ATO your interest in this payment. https://www.ato.gov.au/general/gen/JobKeeper-payment/

15.01.2022 Did you work from home during the covid-19 period? Did you know that there are 3 different ways to claim deductions for home office expenses? Are you thinking that the short cut method is easiest? Is it the best option for you? Contact us to ensure that you are getting the maximum deductions available in your tax return.

14.01.2022 If your business has suffered a decrease in revenue due to the escalating covid 19 situation there are a number of NSW government assistances available. For businesses with turnover over $75,000 there is the 2021 COVID Business Grant, the JobSaver Payment, both require a minimum 30% decrease over a 2 week period. For businesses with turnover between $30,000 and $75,000 there is the 2021 COVID Micro Business Grant.... There is also the $1,500 Small Business Fees and Charges rebate that is available. All but the $1,500 need an accountants declaration so please contact us if you need one to make your claims. There is also the Federal Governments Pandemic Payment NSW for those that are in forced isolation, quarantine or caring for someone in isolation. This is a fortnightly payment that you need to claim each fortnight you are not able to work. https://www.service.nsw.gov.au//2021-covid-19-business-gra https://www.service.nsw.gov.au/transaction/jobsaver-payment https://www.service.nsw.gov.au//2021-covid-19-micro-busine https://www.service.nsw.gov.au/small-business-fees-and-char https://www.servicesaustralia.gov.au//pandemic-leave-disas

14.01.2022 An important announcement for customers impacted by the ongoing bushfire crisis: NAB customers who have lost their homes can immediately access a $2000 grant to... assist with their urgent needs such as food, clothing and temporary accommodation. These funds will be deposited directly into customer accounts as early as next business day. We have set up a dedicated phone line for those needing assistance. Please call us on 1300 683 106 to find out how to immediately access these grants. This is part of a $1 Million Disaster Relief Fund that NAB has today announced to help people affected by fires across Australia. NAB employees who have had to evacuate their homes can also access a $1000 grant. Other measures available to assist customers include: * Suspending home loan repayments * Credit card and personal loan relief * Support to manage regional and agri banking facilities * We have made NABs Employee counselling and assistance program available to all affected customers Wed again like to thank all our employees who are serving as volunteer fire fighters in this difficult time. NAB offers unlimited paid leave to emergency service volunteers, in addition to all other leave entitlements, and we thank them for their brave service - especially as some of them are themselves personally impacted by these fires. Our Chief Customer Officer, Mike Baird, has been in regular contact with our bankers and staff on the ground in affected areas and today said: I have heard the grief in our bankers voices as they grapple with making sure our colleagues are safe and, at the same time, are dealing with the impact more broadly on their own communities. There are horrific tales of lost homes, lost livelihoods and, most tragically, lost loved ones. Many families and businesses face an uncertain future and we want to do all we can. Customers in need of support should visit their local branch or call our NAB Assist team on 1300 683 106. In addition, any Australians who wish to donate to help Australian Red Cross support efforts in these communities can do so at any NAB Branch across Australia or by logging into NAB Internet Banking.

14.01.2022 Jobkeeper I have had a few questions on this since the ATO started the enrolment process yesterday, here are a few key ones: - sole trader, director or shareholder in a company not a paid employee or 1 partner in a partnership are eligible as an eligible business participant. - if you are a permanent employee of two different employers you are eligible for jobkeeper if one of the employers is eligible but you must notify both employers of your intent to claim with one of them.... - if you are a casual of an eligible employer but a permanent employee with a separate employer you are not eligible from the casual employer. -If your business does not pass the 30% (15% for charities) test but your income has been severely impacted from covid-19 there is an alternative income test that is being put together. - When will payments start, we have been told 4th May 2020. - How do I apply without a mygovid, give me a call or email & I can enrol you. See more

13.01.2022 This week, the ATO revealed it is knuckling down and planning to visit more than 400 businesses in the next month to ensure they are on top of their tax affairs. The ATO are focusing on businesses operating in the cash and hidden economy, such as restaurants and cafs, and hair and beauty businesses. These industries are on the ATO radar because they have ready access to cash, and this is a major risk indicator.... This is why it is so important to have a proper mechanism in place to record all your income, the ATO has benchmarks across all industries and regions in Australia and if your numbers are way off the benchmarks they you could be selected for a benchmark audit, where you have to prove your figures are correct. If you cant prove your figures are correct the ATO will issue an amended default assessment for the short fall in income tax & possibly GST plus penalties up to 75% of the tax bill. Can you afford not to keep good records???

12.01.2022 Phones are back, only took an extra 6 days but they are back.

12.01.2022 And here is another way people are trying to scam you. Please contact us if you receive anything like this as we can check with the ATO to make sure your details havent been compromised.

12.01.2022 Going forward we will be closed on Mondays. Once the world rights itself we will go back to normal times.Going forward we will be closed on Mondays. Once the world rights itself we will go back to normal times.

11.01.2022 $15,000 Grants For Bushfire-Hit Farmers and Small Businesses in Mid Western LGA Now Available The $15,000 grants Ive been chasing for the Mid Western Regiona...l Council area have just been approved. Were going to need them. Grants of up to $15,000 are now available for bushfire-hit farmers, small businesses and not-for-profit organisations. These grants are on top of the Disaster Recovery Payment which provides $1000 for eligible adults and $400 for eligible children. And for those who have lost their income as a direct result of the bushfires, the Government will provide those eligible up to 13 weeks income support via the Disaster Recovery Allowance. As per older posts, this support is also available to those in the Lithgow local government area. For information on personal hardship and distress assistance, contact the Disaster Welfare Assistance Line on 1800 018 444. To apply for the $15,000 recovery grant, contact the NSW Rural Assistance Authority on 1800 678 593 or visit www.raa.nsw.gov.au. Disaster Recovery Payments are available now and eligibility can be checked at www.humanservices.gov.au/disaster or by calling 180 22 66.

10.01.2022 Rebate closes this week. You need your crn & electricity bill to apply.

09.01.2022 And here is another scam doing the rounds. This time targeting people with xero subscriptions. A good check is to look at the email address it has come from, this one is from "angelsofvictory" domain, so definitely not xero. When in doubt go through your normal login process to check any notifications rather than clicking on a link in an email.

08.01.2022 Covid test is negative but Sarah still has to follow stay at home orders til, 18 August.Covid test is negative but Sarah still has to follow stay at home orders til, 18 August.

08.01.2022 We would like to extend our condolences to the family of Margaret Buckley who passed away last night after her battle with cancer. She will be missed by all.

07.01.2022 Jobkeeper Update Here are some more questions I have had that may help others. Q - Are only employees who earn under $1500 a fortnight eligible? A - No if you are an eligible employer all your eligible employees are entitled to the jobkeeper payment. If they earn less than $1,500 a fortnight you must pay them up to this amount during April & those who earn over $1,500 just get their normal pay. Q - So what do I do with the jobkeeper money I receive for those who earn over $1...,500 fortnight & I have already paid them. A - You keep the jobkeeper money you receive towards their wage, as you have already paid them the minimum $1,500 a fortnight. Q - I cannot afford to pay employees $1,500 a fortnight & my bank has been no help. A - Unfortunately the requirement from the ATO is that the employees must be paid this amount for you to be eligible for the reimbursement. You have until 8th May 2020 to pay these people in April & going forward you must pay them $1,500 (pre tax) jobkeeper. Q - As a self employed person so I have to pay myself a wage & report it to the ATO? A - No you only have to report wages through single touch payroll if you employee someone. As a self employed person all you need to do is enrol for jobkeeper if your income has dropped by the required threshold. Q - I have nominated to receive the jobkeeper as an eligible business participant through my company do I need pay this to myself as a wage? A - No payments for eligible business participants do not need to be paid out as wages. See more

07.01.2022 On Monday we experienced a major technical difficulty with our practice manager software. We got back up yesterday afternoon but now have a weeks worth of work to catch up on. Sorry if we have delayed getting your return out this week.

07.01.2022 Another budget point, this time for small businesses: The Government will extend by 12 months (to 30 June 2018), the current immediate deductibility of eligible assets under the $20,000 threshold for assets first used or installed ready for use by businesses with aggregated annual turnover less than $10 million. Further, assets above the threshold can continue to be placed in the small business simplified depreciation pool and depreciated at 15% in the first income year and 30% each income year thereafter. From 1 July 2018, the immediate deductibility threshold and balance at which the pool can be immediately deducted will revert back to $1,000.

06.01.2022 Do you or a family member have a fridge that is over 6 years old or a plasma or a CRT tv (the ones with the big bump at the back that makes it work)?? Do you or a family member have a pensioner Concession Card, Health Care Card, Low-Income Heath Care Card or Department of Veterans Affairs Gold Card. Sorry seniors health care cards doesnt qualify. If you answer yes to both of these are are eligible for a 40% discount off a new fridge & 50% discount off a new TV.

06.01.2022 Community Sport Recovery Package

06.01.2022 Here is the treasury fact sheet on the coronavirus stimulus package.

05.01.2022 Sarah was in Dubbo on 7th and 8th August and as a precaution is following the stay at home orders for the Dubbo LGA, and is getting a covid test today. Sarah will work from home for the next 7 days and Ian will be in contact with all appointments booked in for this period. Will keep everyone updated as things progress.

04.01.2022 Our phone is transitioning to NBN today, so we are unable to receive or make calls. Hopefully back to normal tomorrow.Our phone is transitioning to NBN today, so we are unable to receive or make calls. Hopefully back to normal tomorrow.

03.01.2022 Normally I stay out of the political circus but Bill Shortens comments today attacks the integrity of my profession, something that has cost me thousands in education costs to get my degrees. Kerry Packer said it best, I am not evading tax in any way, shape or form. Now of course I am minimizing my tax and if anybody in this country doesnt minimize their tax they want their heads read because as a government I can tell you youre not spending it that well that we should be donating extra.

03.01.2022 Assistance for small businesses, farmers and not for profit organisations.

02.01.2022 NEW OFFICE HOURS Until life returns to normal we will be closing at 4pm each day, yes I can still do appointments after this time if you need so please call us to arrange.

01.01.2022 If you’re a construction worker, tradesperson or apprentice aged 16 and over and you live in the LGAs or suburbs listed below, you are not allowed to enter a ...construction site in Greater Sydney unless you have had a COVID-19 vaccine We have 8,000 priority vaccination appointments available this Sunday 15 August. LGAs & suburbs: Blacktown, Canterbury-Bankstown, Cumberland, Fairfield, Georges River, Liverpool, Campbelltown and Parramatta Local Government Areas and the suburbs of Caddens, Claremont Meadows, Colyton, Erskine Park, Kemps Creek, Kingswood, Mount Vernon, North St Marys, Orchard Hills, Oxley Park, St Clair and St Marys. Those aged 16-39 years who live in the above LGAs or suburbs will get the Pfizer vaccine and those aged 40 years and over will get the AstraZeneca vaccine. Booking details**: 16-39 years South Western Sydney Vaccination Centre: https://bit.ly/3fYEKIL 40+ years Sydney Olympic Park: https://bit.ly/3AAx8Em Walk-in Prairiewood Vaccination Clinic (194-222 Restwell Road) You must not attend your vaccination appointment if you have any COVID-19 symptoms. Please get tested and self-isolate until you receive a negative test result. You should also not attend if you are a close contact. ** We have had a big response to Tradie Sunday! For those 18+, we still have some appointments available for the AstraZeneca vaccine. You can either book for Sydney Olympic Park, or walk-in at Prairiewood Vaccination Clinic (194-222 Restwell Rd).

01.01.2022 Do you receive family tax benefit? Did you know you are entitled to claim for this? Must be done by 18th June 2020.

01.01.2022 How does this new low & middle income earners offset work?? Well basically it is a tax offset dependent on income levels. What is that for me? Well it reduces your tax liability down based on your taxable income, and thus should increase your tax refund. If your taxable income is $37,000 or below can now receive a low and middle income tax offset of up to $255.... If your taxable income is above $37,000 and below $48,000 can now receive $255, plus an amount equal to 7.5% to the maximum offset of $1,080 (yeah this one isnt nice to crunch out). Or if your taxable income is above $48,000 and below $90,000 are now eligible for the maximum low and middle income tax offset of $1,080. If your taxable income is above $90,000 but is no more than $126,000 are now eligible for a low and middle income tax offset of $1,080, less an amount equal to three per cent of the excess.