Business Mantra Chartered Accountants & Business Advisors in Perth, Western Australia | Business consultant

Business Mantra Chartered Accountants & Business Advisors

Locality: Perth, Western Australia

Phone: +61 8 9242 3555

Address: Suite 8, 176 Main Street 6017 Perth, WA, Australia

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

Likes: 2713

Add/Update information

Reviews

Tags

• Accountant
• Financial service
• Business consultant
• Franchising service

25.01.2022 We wish everyone a happy Australia Day

24.01.2022 We Wish Everyone A Great Festivals

24.01.2022 Business Mantra In Association With Bigbash Entertainment & Sky Entertainment Presents Selfie Queen Neha Kakkar" Live in Perth Grab your best seat today, Tickets Selling Fast ... 16th November 2019 at Perth Exhibition Centre Tickets Available at http://bit.ly/nehaperth

23.01.2022 Happy Queens Birthday. We hope everyone is enjoying their long weekend

23.01.2022 Happy Halloween

23.01.2022 Long may your flag wave! Happy 73rd Independence Day!

21.01.2022 We wish you a Happy and Prosperous Dhantrayodashi/Dhanteras. Warm wishes on the auspicious occasion of Dhanteras to you. May Lord Kuber shower you with wealth and prosperity for a beautiful life.

19.01.2022 Unexpected lump sum payment in arrears? There’s a tax offset for that A lump-sum payment in arrears is a payment you may receive that relates to earlier income years. The tax offset that can be utilised with these sorts of payments works to alleviate the problem of a taxpayer being expected to pay more tax in a year when a lump sum of back payments is received where they would be disadvantaged by paying more tax than if the income had been spread over several income years.... The general rule is that employment income is assessable in the income year it is received, regardless of the period the payment covers. This is still the case, however, the tax offset works to restrict the amount of tax payable to the same marginal rate that would have applied if it were received in the tax year or years it relates to. As the lump sum payment in arrears (LSPIA) is taxable in the year you receive it, it can impact your tax and non-tax entitlements such as: student loans child support and welfare payments. You may also find that as a result you: are in a higher tax bracket and pay more tax than you would have if you received the amount when you earned it are in the same tax bracket and pay the same amount of tax as you would have if you received the amount when you earned it are in a lower tax bracket and pay less tax than you would have if you received the amount when you earned it have a new or increased Medicare levy surcharge obligation because the lump sum pushes you over a Medicare levy surcharge threshold. The ATO says taxpayers may be able to access the tax offset for certain payments, which usually relate to employment, compensation or welfare payments. To be eligible for the tax offset, an LSPIA must be 10% or more of your taxable income in the year of receipt after you deduct any: amounts that accrued in earlier years (that is, this payment) amounts received on termination of employment in lieu of annual or long service leave employment termination payments (ETPs) income stream and lump sum superannuation payments net capital gains any taxable professional income that exceeds the average taxable professional income. The ATO notes that the calculation of this tax offset is complex, therefore, there is no online calculator. See more

18.01.2022 A hand up for small businesses on cash flow The ATO has produced a Cash Flow Coaching Kit, which is a free resource and designed as a value-add advisory tool for small business owners. It does not replace any existing accounting or financial tools, although it can be used to complement software accounting packages. With its tailored coaching conversations about cash flow management, the ATO’s kit can be particularly useful in times of financial stress. Cash flow problems co...ntinue to be a major issue for small businesses, and may indeed be more so after the past year of COVID woes. Research shows: almost half of small businesses are under financial pressure within the first year, and this often increases into years two and three of business 60% of small businesses cease operating within their first three to four years 90% of small business failures are due to poor cash flow small businesses who manage their cash flow effectively are more likely to succeed. The resources in the kit can help small business owners better understand the actions they can take to manage their cash flow. This includes: learning the fundamental concepts of cash flow understanding how cash flows in and out of your business and ways to assess business viability scenario planning to identify possible actions to improve performance by increasing cash in or reducing cash out in your business. See more

18.01.2022 " The Australian government says temporary visa holders with work rights are being given access to draw from their superannuation to help them deal with the coronavirus economic impacts. " https://www.sbs.com.au//temporary-visa-holders-in-australi

18.01.2022 Scammers never seem to rest, with even the lastest Job Keeper iteration coming in for some scam treatment. In a new update, the ATO reports that it is receiving reports of email scams about JobKeeper and backing business investment claims. The fake emails say we’re investigating your claims. They ask you to provide valuable personal information, including copies of your driver’s licence and Medicare card. During this time of heightened scam activity, the ATO is encouraging ...individuals and businesses to: 1. Use multi-factor authentication where possible and don’t share your password with anyone 2. Run the latest software updates to ensure operating systems security is current 3. Secure your private wi-fi network with passwords (not the default password) and do not make financial transactions when using public wi-fi networks 4. Exercise caution when clicking on links and providing personal identifying information 5. Only access online government services via an independent search not via emails or SMS 6. If in doubt, call the ATO on an independently sourced number to verify an interaction Educate your staff on cyber safety and scams. See more

17.01.2022 Team building day #toomuchfun #toomuchfood #90stheme

17.01.2022 We Wish Everyone A Happy & Prosperous New Year 2019

17.01.2022 Happy Fathers Day

16.01.2022 Make sure you update your ABN: It can be vital Government agencies regularly access data contained in the ABN registration, and where this is not up-to-date the taxpayer may be missing out on stimulus measures, grants, and other government support. This became painfully evident during the 2019-20 bushfires and is now re-surfacing during COVID-19 when it was found that a concerning amount of ABN data was out-of-date.... The ATO and the Australian Business Register are making efforts to remind businesses and relevant taxpayers that it is essential to ensure ABN registration details are accurate and completely up-to-date. It is a business owner’s responsibility to make sure this is done (contact the Australian Business Register, see www.abr.gov.au). Once a business owner is aware of a change to the business, details on the register must be altered within 28 days. Updating ABN details will ensure: the right people have the right permissions to act on behalf of a business government agencies have current information for example if emergency services need to contact businesses during natural disasters the entity is ready for new government services when they become available. The fastest way to update details is through ABR online services. All changes made to your ABN online will take effect immediately. There is also a paper form that can be completed, and we can get a copy of this for you should you need it. Proof of identity may be required when you make changes to ABN details. Note that a business can’t update: business names legal names for individuals and sole traders who need to contact the ATO directly legal names for companies registered with the Australian Securities & Investments Commission (ASIC). Name changes made by the ATO and ASIC will update the ABR automatically.

15.01.2022 Happy Mothers Day

14.01.2022 About the Firm: Business Mantra is a vibrant, proactive business advisory Firm. The Opportunity We provide Study Support and career development opportunities, we also offer you a fantastic working culture, with open communication lines, and a flexible working environment. Full training and support provided. Roles & Responsibilities:... Two Entry Level Tax, Accounting and Bookkeeping Position Bunbury Morley are you interested in starting your career in Accounting and Bookkeeping Industry? The Role would suit recent tax and accounting Certificate, Diploma holders or graduates. 1. Learn basics of bookkeeping, payroll, MYOB, Xero, Quickbooks softwares 2. Learn basics of preparing and managing simple tax returns and other small jobs. 3. Manage a portfolio of Individual and Simple Income Tax Returns 4. Assist in Completing/ Reviewing GST Returns, BAS, IAS 5. Liaising with the ATO and other government agencies on behalf of clients 6. Assisting Seniors with their jobs and tasks 7. Assist Seniors with tax planning, business restructuring and due diligence tasks Essential Skills To be considered for this role ideally you should have following attributes as well: 1. Certificate IV, Diploma or Degree in Accounting/ Taxation 2. experience in similar role Desirable (not essential) Other Attributes 1. Excellent Communications skills 2. attention to detail 3. high level of organizational, time and workflow management skills This is a great opportunity for anyone wanting to fast track their career to senior level within few years. If you wish to be considered for the above position please reply with your resume and cover letter. One of the position is based in Bunbury

13.01.2022 This tax time, the ATO, as usual, has nominated some tax claim hot spots that it will be paying attention to and which you should approach with caution when claiming these deductions. For example, the ATO has already flagged that it will be checking returns for taxpayers who take advantage of the exemption from keeping receipts when spending less than $150 on laundry expenses. The ATO believes that too many people are claiming this without actually incurring the expense. In... an announcement issued 4 June, the ATO said that for last financial year around six million taxpayers claimed work-related clothing and laundry expenses that totalled about $1.5 billion. It said that 25% of all laundry and clothing claims were exactly at the record-keeping limit. Assistant Commissioner Karin Foat said in the ATO announcement that it viewed as unlikely that so many working taxpayers would be required to wear uniforms, protective clothing or occupation-specific clothing to earn assessable income.

13.01.2022 Each year Australians observe one minute's silence at 11.00 am on 11 November in memory of those who died or suffered in wars and armed conflicts. The annual Remembrance Day Service will be conducted in the State War Memorial precinct in Kings Park and Botanic Garden.

13.01.2022 The SMSF annual return for 2019 has a number of new questions and labels that SMSF trustees need to be aware of. In previous years, the ATO advised trustees that the question in the annual return regarding whether Part B of the audit report was qualified could be answered with a no if the only reason the auditor qualified Part B was because they could not confirm the information provided to them (for example, opening account balances).

13.01.2022 Office Christmas Party

13.01.2022 This is a great opportunity for anyone wanting to fast track their career to senior level within few years

12.01.2022 Get ready for the race that stops a nation! Enjoy the Melbourne Cup day !!!

12.01.2022 May this Krishna Janmashtami bring happiness in your life. Enjoy the festival with love in your heart and good wishes for others.

12.01.2022 Further Hayne Royal Commission recommendations The Financial Sector Reform (Hayne Royal Commission Response No. 2) Bill 2020 implementing a further four recommendations of the Financial Services Royal Commission to improve consumer protections (as outlined below) was introduced into the House of Representatives late last year and only recently passed through the lower house. The four new factors, each aiming to commence 1 July 2021, include the following. Ongoing fee arrang...ements (recommendation 2.1) The bill will amend the Corporations Act to require financial services providers that receive fees (fee recipients) under an ongoing fee arrangement to: provide clients with a single document each year that outlines the fees that will be charged and the services that the client will be entitled to in the following 12 months and which seeks annual renewal from clients for all ongoing fee arrangements; and obtain written consent before fees under an ongoing fee arrangement can be deducted from a client’s account. Disclosure of lack of independence (recommendation 2.2) The bill will amend the Corporations Act to require a providing entity (a financial services licensee or authorised representative) to give a written disclosure of lack of independence where they are authorised to provide personal advice to a retail client. Advice fees in superannuation (recommendations 3.2 and 3.3) The bill will amend the SIS Act to provide greater protection for superannuation members against paying fees for no service. The amendments increase the visibility of advice fees for all superannuation products and prohibit the charging of ongoing advice fees from MySuper products. If legislated, the measures will apply from 1 July 2021, with a 12-month transitional period for arrangements entered into before 1 July 2021. See more

11.01.2022 Wish you a Happy Eid & May this festival bring abundant joy & happiness in your life!

11.01.2022 JobKeeper extension’s alternative turnover tests The extension of the JobKeeper scheme is now based on current GST turnover, not projected turnover. The basic test compares year-on-year turnover. If there were events or circumstances outside the usual business settings that resulted in your relevant comparison period in 2019 (September or December 2019 quarter) not being appropriate, then an alternative test may apply. However, if an entity satisfies the basic test, it does n...ot need to satisfy an alternative test. Also, you only need to satisfy one of the alternative tests listed below even if more than one could apply. The alternative turnover tests can be used to determine whether an entity has satisfied the actual decline in the turnover test for the September 2020 quarter or the December 2020 quarter. The ATO has provided alternative turnover tests for those businesses that don’t fit the usual parameters, which can then be applied to qualify for JobKeeper payments. The following are scenarios that may fit a number of situations. Ask us if these may help your business qualify. Business that started after the comparison period started but before 1 March 2020 Business acquisition or disposal that changes the entity's turnover Business restructure that changed the entity’s turnover Business that has had a substantial increase in turnover Business affected by drought or natural disaster Business that has an irregular turnover Sole trader or small partnership with sickness, injury or leave Business that temporarily ceased trading during the relevant comparison period See more

10.01.2022 Happy Independence Day

08.01.2022 Proud sponsor for the 2019 Rates Prize Draw - City Of Stirling

08.01.2022 Only 1 day 2 go...... Don't miss the opportunity to listen and garba with Great Barodian Gujarati Bollywood Diva... Bhoomi Trivedi Call us or Grab your tickets online @ www.premiertickets.co

07.01.2022 Business Mantra Are Proud Sponsors Of The Traditional Garba King ATUL Purohit & GROUP Performing LIVE IN PERTH on 11/08@ CURTIN STADIUM

06.01.2022 Like the victory of the good of Lord Ram over the evils of demon Ravan, may you be blessed with the strength to defeat all your evils and prosper happily in your life. A very happy Vijayadashmi and Dussehra to Everyone !!

06.01.2022 If you are planning to sell goods or services into Australia, you may need to consider the taxation consequences. Your residency status may affect your tax obligations. For example, you are selling from a treaty country such as the USA, UK, China, etc.

05.01.2022 To be eligible for the Zone Tax Offset, a taxpayer must reside or work in a specified remote or isolated area of Australia for more than 183 days in an income year. Since 1 July 2015, FIFO workers are excluded from the zone tax offset where their normal residence is not within a zone. Those FIFO workers whose normal residence is in one zone but who work in a different zone will retain the zone tax offset entitlement associated with their normal place of residence

05.01.2022 JobKeeper rules, conditions and payment rates have changed Legislation has been put in place to extend the JobKeeper scheme beyond its original sunset date, although the rates of payment and certain other details have been altered. The scheme is now to run until March next year, with one version lasting until 3 January and another version in place from then until 28 March. Businesses that have been enrolled in JobKeeper do not need to re-enrol to participate in the extended s...Continue reading

05.01.2022 Happy Rakshabandhan

05.01.2022 Business Mantra Chartered Accountants & Business Advisors It is our great pleasure and honour to welcome our event partner Business Mantra & Red Migration Busin...ess Mantra is a Chartered tax and accounting firm primarily servicing Metropolitan Perth, North West, interstate and international clients. Our office is located in the thriving business precinct of Osborne Park in WA. Business Mantra has been offering quality tax and accounting advisory services to individuals and small to medium businesses since 2007 including: Tax and Accounting & Business Consultancy. Phone: +61 8 92423555 E-mail: [email protected] 8/176 Main Street, Osborne Park , WA, 6017 Sky Entertainment & Dhoom Club are honoured to have you and thank you for supporting our community. The Biggest #Navratri Festival 2019 In Perth WA, Australia. 2 Days Special Pass available @ $35 only. 3 Days special pass available @ $40 only. #Hurry book your tickets now: http://bit.ly/2JB1zl1 Share this with your friends & family to make this event a Big Blast Jai Mataji

04.01.2022 It's TONIGHT ..... 100% Dandiya dhamaal Guaranteed

04.01.2022 Women are inspirations for others in so many ways. They wonderfully manage both their personal as well as professional lives. Women in all over the world are setting new records and achievements in various fields. Let us collectively resolve to promote gender justice and eliminate inequality between women and men. Happy Women’s Day! ... #HappyWomensDay2021 #HappyWomensMonth #businessmantra

04.01.2022 A Big Salute To All The Nurses Out There ! Happy Nurse Day

04.01.2022 May Goddess Lakshmi and Dhan Kuber Maharaj bless your business and May you rise above all challenges Happy Dhanteras 2019!

03.01.2022 Happy Rakhsa Bandhan Everyone !!!

02.01.2022 We all understand that budgets are an exercise in predicting the future. Given what has happened in 2020, gazing into the crystal ball and extracting something reliable is fraught with difficulty. The Treasury has given its best estimate, but we also need to appreciate that budgets are usually never 100% on target that’s the nature of budgets. The question is, by how much? [ 3,145 more words ] https://businessmantra.com.au/tax-a/federal-budget-2020-21/

01.01.2022 Wishing you a gleam of diyas, echo of holy chants, contentment and happiness today, tomorrow and forever. Have a happy and prosperous Diwali!

01.01.2022 Business Mantra Are Proud Sponsors Of Bhoomi Tridevi LIVE IN PERTH on 09 Aug @ Herb Graham Recreation Centre Mirrabooka At 6:30 PM

01.01.2022 This is a great opportunity for anyone wanting to fast track their career to partner level within few years.

01.01.2022 In the wake of the Coronavirus pandemic, We at Business Mantra are concerned about the health & safety of our team, clients & community. Please be rest assured that Business Mantra is well informed on the implications and are ready to answer any queries that you may have. Business Mantra also has clear plans in place to make sure that we can continue to operate during this time. Through our secure IT systems, we can work entirely remotely while maintaining our clients privac...y. We want to assure you that we are taking all safety measures and monitoring the situation closely to ensure compliance with all Government directives.

01.01.2022 Happy International Women's Day.