CAVEO Partners in Adelaide, South Australia | Financial consultant

CAVEO Partners

Locality: Adelaide, South Australia

Phone: +61 8 8201 8333

Address: 1/11 Halifax Street 5000 Adelaide, SA, Australia

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

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22.01.2022 ATO Scam Alerts Scammers are contacting people through SMS, email, and/or phone calls. They are asking people to provide personal identifying information. Scammers are constantly developing new ways to steal from the community, and will often try to take advantage of people when they are most vulnerable.... Do not click on any links and do not disclose the information requested. If you’re not sure if an ATO interaction is genuine, don’t reply to it, Instead: - phone your Caveo adviser at our office on (08) 8201 8333 - phone the ATO on 1800 008 540, or - visit Verify or report a scam, which explains how to spot and report a scam. https://www.ato.gov.au//Identity/Verify-or-report-a-scam/

19.01.2022 PLANNING FOR AGED CARE SEMINAR INVITATION Presented by Kathryn Casey A must attend seminar for clients thinking about aged care!... COMPLIMENTARY TO ALL CLIENTS, THEIR FAMILIES AND FRIENDS During our ‘Planning for aged care’ seminar you will: - Discover what type of care might suit you or your loved one(s) - Discover what payment options are available to you - Learn to understand what aged care costs are involved - Learn strategies to cover the costs and create an optimal financial outcome THIS SEMINAR WILL BE HELD ON TUESDAY, 20TH OF OCTOBER CAVEO OFFICE | LEVEL 1/11 HALIFAX STREET, ADELAIDE 5000 FROM 6:15PM FOR A 6:30PM START, CONCLUDING 7:30PM. Light refreshments will be served. Please RSVP by October 15, 2020 to Mary at (08) 8201 8333 or email [email protected]

18.01.2022 Last Friday night Caveo Partners celebrated End of Financial Year with great style, as always. #80snight #eofy Special thanks to @amazinggrazers and Aussie Ripper Roasts for kindly providing us with such delicious food. Also a big thanks to winedirect.com.au and @_fine_foods_ for supplying the wine and spirits for the night. Instagram @caveopartners

18.01.2022 Planning for Aged Care: Clients with Elderly Parents Presented by Kathryn Casey COMPLIMENTARY TO ALL CLIENTS, THEIR FAMILIES AND FRIENDS During our ‘Planning for aged care’ seminar you will:... Discover what type of care might suit your loved one(s) Discover what payment options are available to you Learn to understand what aged care costs are involved Learn strategies to cover the costs and create an optimal financial outcome See more

18.01.2022 JOBKEEPER EXTENSION Federal Treasurer Josh Frydenberg has confirmed there will be continued JobKeeper support beyond the former 27 September deadline. It is clear the economy will need further economic support. The changes were announced on 7 August 2020 to adjust the reference date for employee eligibility and make it easier for organisations to qualify for the JobKeeper extension from 28 September 2020. ... Businesses only need to show that their GST turnover has fallen over one quarter, instead of multiple quarters, to be eligible for the scheme's extension. Under the previous guidelines, a business needed to record a loss in the June AND September quarters, now it's just one: Extension period 1 (28 September 2020 to 3 January 2021) - GST turnover needs to fall by more than 30% (15% for Not For Profits) in the September quarter only. Extension period 2 (4 January 2021 to 28 March 2021) - GST turnover needs to fall by more than 30% (15% for Not For Profits) in the December quarter only. Workers will also qualify if they were employed on 1 July 2020, rather than 1 March. For more information - https://treasury.gov.au/coronavirus/jobkeeper/extension Any other questions please call one of our Accountants or Advisers for further advice.

17.01.2022 Mandatory Code for Commercial Landlords and Tenants Agreed by National Cabinet The code has been agreed and once legislated will apply to tenancies where either the landlord or the tenant is eligible for the JobKeeper program. Flagged last week, the Prime Minister said the state treasurers have agreed on a code for commercial tenancies for small to medium businesses with the aim to ensure tenancies are maintained throughout the hibernation period. "It is agreed by National ...Cabinet today that a mandatory code will be legislated and regulated in each state and territory jurisdiction. "That mandatory code will apply to tenancies where the landlord or tenant is eligible for the JobKeeper program and where they have a turnover of $50 million or less," PM Scott Morrison said. He explained that the code is designed to protect the small and medium enterprises, be they a tenant or a landlord. Under the code, landlords will be required to reduce rent proportional to tenants' trading reductions, via waivers and lease extensions. "The code brings together a set of good faith leasing principles. Landlords must not terminate the lease, and tenants must honour the lease." More details to come.

16.01.2022 Media veteran Mark Aiston takes a comprehensive look at how you can get yourself on television and promote your business, products, services, your brand and yourself . Learn the secrets of gaining publicity for your business. For more details please contact Mark on 0418827801 ... or email [email protected] See more

16.01.2022 SA State Government small business $10K grant program now open for applications Small businesses and not-for-profit entities that employ South Australians who have been highly impacted by the COVID-19 pandemic may be eligible to receive a $10,000 grant to support the operation of their business. Application process... Applications are now open. Before you start your application, please read the following important information: To complete this form you will need: Recent Business Activity Statement Bank account details Evidence of eligibility for JobKeeper (where applicable), such as a screen shot of your eligibility confirmation from the ATO or a bank statement demonstrating receipt of JobKeeper payments. Where the entity was operating in 2018-19, evidence of 2018-19 turnover (for example a 2018-19 income statement) Not-for-profits not registered for GST are required to attach evidence that turnover in 2018-19 or 2019-20 is above $75,000. A valid email address. This application must be completed by: In the case of a business that is a sole trader that employs, the sole trader. In the case of a business that is a partnership that employs, a partner. In the case of a business that is a body corporate that employs, a director, secretary, public officer or equivalent. To make an application please click on the link below. https://www.treasury.sa.gov.au//$10,000-emergency-cash-gra Applications close 1 June! If you need any assistance, please contact your Caveo Partners Accountant/Adviser.

14.01.2022 SA Government provides more support with its Jobs Rescue Package The SA Government has just released its jobs rescue package. It is now providing a total of $1 billion to support South Australian households and businesses. Today it added another $650 million to the first support package of $350 million it announced a fortnight ago.... The Federal Government is now providing the most significant support, outside of wartime, for the Australian community and economy and the State Government has followed suit. The key elements of its second support package are: - Relief from taxes and charges - A Business and Jobs Support Fund - A Community and Jobs Support Fund - Additional support to recipients of Job Seeker payments from Centrelink who also receive a State Government Cost of Living Concession

12.01.2022 SA Government provides additional $10,000 Emergency Cash Grants for Small Businesses Small businesses and not-for-profit entities that employ South Australians who have been highly impacted by the COVID-19 pandemic may be eligible to receive a $10,000 grant to support the operation of their business. At this stage our understanding is that businesses eligible for the Commonwealth JobKeeper payment will be deemed to be highly impacted by COVIS-19 restrictions, but this will n...eed to be confirmed on a case by case basis by the State Government. The grant is being funded from the State Government’s $650 million Jobs Rescue Package. To be eligible, businesses and not-for-profits including eligible sporting and community organisations will need to: Employ people in South Australia. Have annual turnover of more than $75,000 (GST exclusive). Have an annual payroll of less than $1.5 million, and not be entitled to a payroll tax waiver under COVID-19 support measures introduced by the South Australian Government. Have an ABN and were carrying on the operation of the business in South Australia on 1 March 2020. Have been subject to closure or highly impacted by COVID-19 related restrictions^. Apply by 1 June 2020. Use the funds to support activities related to the operation of the business. Additionally, if the business has received any South Australian Government grants provided to address COVID-19 related business impacts, the value of these payment(s) will be deducted from the $10,000 grant. Importantly, if the business is part of a group of companies that is registered for payroll tax and will receive the payroll tax waiver, the business is ineligible for this grant. Applications for the grant will open shortly and be available until 1 June 2020. If you would like to register your interest for the grant, please provide your contact details via the link below. https://www.treasury.sa.gov.au//stimulus-meas/registration

09.01.2022 XERO PLATINUM CHAMPION PARTNER STATUS!! Caveo Partners are excited to have reached a special milestone of achieving Xero Platinum Champion Partner status. We celebrated this momentous occasion with a morning tea held at our office. This places Caveo in the top 2% of accounting firms in Australia. ... A special thank you to @stevenleaney, our @xero Account Manger, for joining us today to celebrate. https://www.xero.com//account/caveo-partners-259de1433d2b/

08.01.2022 The government yesterday launched their Stage 2 stimulus package designed to further soften the blow. The $66 billion package includes relief for retirees, and a "safety net" for workers already bearing the brunt of the crisis and further relief for small business to assist them to keep people employed. 1. Casuals and sole traders... If you've found yourself affected by the economic downturn, you'll be able to access a "coronavirus supplement" of $550 a fortnight for the next six months. This is in addition to other benefits so if you're already receiving payments through Jobseeker (formerly known as Newstart), you can claim both. Sole traders or casual workers who have had their income or hours reduced by 20 per cent or more as a result of coronavirus will also be able to access up to $10,000 of their superannuation tax-free this financial year and another $10,000 next financial year. 2. Households If you're not eligible to receive the coronavirus supplement, you could still be able to claim a $750 stimulus payment. The payment will be made automatically from July 13 to about 5 million Australians, including those receiving the age pension, a carers allowance or family tax benefit and Commonwealth senior card holders. That's in addition to the $750 stimulus payment announced earlier this month. 3. Pensioners Deeming rates will be reduced by a further 0.25 percentage points to reflect the latest rate reductions by the RBA. This is important because deeming rates are used for the pension income assessment and therefore affect how much someone will receive through their pension. According to the Government, the change will benefit around 900,000 income support recipients, including age pensioners, and is estimated to cost $876 million over the forward estimates period. 4. Employers who want to keep staff Not-for-profits and small businesses with a turnover under $50 million will receive a tax-free cash payment of up to $100,000 to help them retain staff and continue operating. The Government expects 690,000 businesses employing 7.8 million people and 30,000 not-for-profits will be eligible for measures in the stimulus package. By linking the payments to staff wage tax withholdings, businesses will be given an incentive to hold on to more of their workers. This initiative is focus on small businesses and will assist them to bridge the gap and get to the other side of the pandemic. If you need more information, please call your Caveo Adviser/Accountant to discuss any elements of the package further. The government has provided some excellent fact sheets on the various assistance packages available. For more information go to - https://treasury.gov.au/coronavirus Based on what the Prime Minister said yesterday there will be more to come...

07.01.2022 Prime Minister launches new JobMaker initiative - 'more efficient' taxes and less regulation Today the Prime Minister unveiled a new government initiative giving way to tax reform and deregulation to ease the burden on small business. Appropriately dubbed JobMaker, the government today launched a post-pandemic plan to reduce both the projected 10 per cent unemployment rate and government debt which has reached over 30 per cent of GDP. ... The plan consists of several elements, including an overhaul of a "clunky and unresponsive" skills and training system, more efficient taxes, less regulation, award simplification, better access to finance and more. Addressing the National Press Club today, PM Morrison said Australia’s response to date has bought the time to prepare for the economic whiplash. "Opening up will be harder than closing down. We will have to all retrain, to live and work in a way that creates a sustainable COVID-19-safe economy and society," Mr Morrison said. "The overwhelming priority of this reset will be to win the battle for jobs." The PM noted that more information on boosting small and medium business growth will be made available over the next few months in the lead up to the budget. As we reset for growth, our JobMaker plan will be guided by the principles that we, as Liberals and Nationals, have always believed in to secure Australia's future and put people first in our economy.

05.01.2022 PM Announces JobKeeper Payment Extension The Federal Government’s JobKeeper and JobSeeker programs will be extended but payments will be lowered. Prime Minister Scott Morrison and Treasurer Josh Frydenberg announced the changes in Canberra on Tuesday.... The $1500 fortnightly wage subsidy is legislated until September 27. However from the first week in October, two payment tiers will be introduced. The top rate will be reduced to $1200 a fortnight, while those working less than 20 hours a week will be eligible for a $750 payment from October to December. Between January and March those payments will again lower to $1000 for the full rate which requires 20 hours of work a week or more, and $650 for less than 20 hours a week. Changes will also be made to the eligibility of the payments to ensure only those who require assistance receive them. The 30 per cent turnover reduction test which is 15 per cent for charities will be reapplied in September, and again in January, for businesses to be eligible for the program until March 28, 2021. For more information: https://treasury.gov.au//Fact_sheet-JobKeeper_Payment_exte

04.01.2022 Prime Minister Scott Morrison has met with other G20 leaders in a special online summit to deal with the coronavirus pandemic. Australia and other G20 nations have struck a deal to co-ordinate efforts to tackle the coronavirus pandemic, as they collectively pledged $A7.5 trillion to kickstart the global economy. Prime Minister Scott Morrison joined US President Donald Trump and other members of the G20 through a video link-up overnight.... The virtual summit was called by Saudi Arabia, which is chairing the forum this year. In a communique issued after the meeting, Mr Morrison and other leaders described the pandemic as a powerful reminder of our interconnectedness and vulnerabilities. This virus respects no borders, they said. Combating this pandemic calls for a transparent, robust, coordinated, large-scale and science-based global response in a spirit of solidarity. G20 finance, health and trade ministers are set to meet in coming weeks to develop specific action plans to deal with the economic and health impacts. China agreed to increase its supply of pharmaceutical ingredients and other supplies to the international market, in a move that will ease shortages in many countries. The meeting was not open to the media, but some leaders’ statements were issued after it.

04.01.2022 JobKeeper Employee Eligibility retest critical The amended JobKeeper rules stipulate that the nomination notice will need to be provided to employees within seven days of the commencement of the legislative instrument, affording employers until 22 August to do so. However, because this date falls on a Saturday, the law provides that it may be done on the next working day in this case, 24 August, a Monday.... Separately, the ATO will provide employers until 31 August to meet the wage condition for all new eligible employees under the 1 July eligibility test. Employers need to be aware that under the one in, all in rule, they need to include new eligible employees into their JobKeeper scheme; otherwise, they could face hefty penalties, there is no choice, the one in, all in rule compels all employers to retest and must do it by Monday. The new 1 July eligibility test is set to capture a number of new employees, including those hired after 1 March, and those who previously did not meet the definition of a long-term casual employee by 1 March but have since become long-term casual employees by 1 July. It will also cover employees who did not qualify on 1 March due to their age or visa status but have since become 16 to 18 years of age and meet the independence criteria and study or have obtained the necessary visa. To view the ATO’s latest update click here - https://www.ato.gov.au//JobKeeper---timeline-of-content-u/

03.01.2022 $10,000 Emergency Cash Grants for Small Businesses Small businesses and not-for-profit entities that employ South Australians who have been highly impacted by the COVID-19 pandemic may be eligible to receive a $10,000 grant to support the operation of their business. The grant is being funded from the State Government’s $650 million Jobs Rescue Package. ... To be eligible, businesses and not-for-profits including eligible sporting and community organisations will need to: Have an ABN and were carrying on the operation of the business in South Australia on 1 March 2020. Employ people in South Australia. Have annual turnover of more than $75,000 (GST exclusive). Have an annual payroll of less than $1.5 million, and not be entitled to a payroll tax waiver under COVID-19 support measures introduced by the South Australian Government. Have been subject to closure or highly impacted by COVID-19 related restrictions^. Apply by 1 June 2020. Use the funds to support activities related to the operation of the business. If: The business has received any South Australian Government grants provided to address COVID-19 related business impacts, the value of these payment(s) will be deducted from the $10,000 grant. The business is part of a group of companies that is registered for payroll tax and will receive the payroll tax waiver, the business is ineligible for this grant. Applications for the grant will be open until 1 June 2020. Visit the $10,000 Emergency Cash Grants for Small Businesses page to start your application. ^ Businesses eligible for the Commonwealth payment will be deemed to be highly impacted by COVID-19 restrictions. The most important change is that receipt of JobKeeper (nor is the 30% reduction in revenue) are no longer key prerequisites. So businesses should lodge a claim as long as they have been subject to closure or highly impacted by Covid related restrictions.

03.01.2022 Instant Asset Write-Off tax boost extended for another six months amid coronavirus pandemic Businesses making up to $500 million per year will be allowed to continue writing off newly purchased assets worth up to $150,000 under an extended scheme designed to boost cash flow. In March, the Federal Government massively expanded the scope of the Instant Asset Write-Off scheme in the early stages of the coronavirus economic shock. The scheme changed from allowing businesses makin...g $50 million per year to write off purchases up to $30,000, to businesses making $500 million per year being allowed to deduct purchases worth up to $150,000. Yesterday the Treasurer Josh Frydenberg said that arrangement, which was due to end on July 1, would remain in place until the end of the year. Key points: The new rules for the Instant Asset Write-Off scheme extended to the end of the year Eligible businesses can deduct the cost of assets worth up to $150,000 The scheme will help businesses as they recover from the coronavirus crisis "We do know that there are businesses that are ready to invest right now," he said. "When the restrictions are eased and people are back at work, our cafes and restaurants will be busy. "Our hotels will have occupants again and our businesses will be able to export and import again, and they need the equipment and they need the machinery." Without the scheme, businesses would have to deduct the depreciation of their assets over several tax returns. But with the scheme in place, eligible businesses can deduct the full cost of purchases up to $150,000 from the amount of tax they pay in the financial year the asset is purchased. If you need assistance, just call Caveo Partners (08) 8201 8333 and speak with our experienced Finance Adviser Jeff Clarke to help you with your needs.

01.01.2022 COVID-19 Federal Government Job Keeper Package The government will subsidise the pay packets of low-to middle-income earners under the threat of being stood down because of COVID-19. Businesses will be paid up to $1,500 a fortnight for each employee, as part of a Job Keeper allowance announced by Prime Minister Scott Morrison on Monday afternoon.... The $130 billion package could continue for as long as six months, Morrison said, and adds to the existing $85 billion coronavirus survival package already announced by federal and state governments. Now is the time to dig deep, he said. We are living in unprecedented times. With the twin battles that we face and that we fight against - a virus and against the economic ruin that it can threaten. This calls for unprecedented action. For more detail click in the following link. https://treasury.gov.au//Fact_sheet_Info_for_Employers_0.p