Clift Pearce Accounting in Ipswich, Queensland | Tax preparation service

Clift Pearce Accounting

Locality: Ipswich, Queensland

Phone: +61 7 3202 1199

Address: 14 Mortimer Street 4305 Ipswich, QLD, Australia

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

Likes: 105

Add/Update information

Reviews

Tags

• Tax preparation service
• Accountant
• Financial service

24.01.2022 We understand everyone is very busy and day to day life is far from normal at the moment but we need to ask anyone with a face-to-face appointment to really try hard to arrive on time. Being 5-10 minutes late doesn't sound like a lot but the knock on effect impacts clients with appointments to follow and potentially for the rest of the day. Clients to follow may have other things planned / booked in their day, things they need to do by certain times which can be impacted. We... also ask if possible, for clients to try and sort potential deductions into categories and hopefully add up the totals (particularly if there are lots of receipts). This helps us keep to schedule and/or helps us avoid the need to charge more than standard prices for returns.

21.01.2022 Another epic failure from ATO. Their systems have gone into meltdown. Not entirely a surprise given taxpayers are wanting to lodge income tax returns, BAS, claim Job Keeper for June on top of normal day to day tasks. Sadly, they don't listen to feedback from accountants telling them to keep our systems separate from the general public's so that when these things happen (it wouldn't be reasonable to expect them to have so much hardware they can never be overloaded) those of us who are forced to rely so heavily on their online systems to earn our income don't grind to a halt.

18.01.2022 Post-September Job Keeper Change Announced Overnight. The Federal Treasurer has announced the eligibility requirements for Job Keeper post-September will be changed such that a business will only need to demonstrate a 30% turnover reduction for the July to September 2020 period compared to same period 2019 rather than both September and June quarters as originally announced. This is a direct response to the new lock down restrictions in Melbourne which are seeing businesses i...mpacted and forced to close which have not previously been required to. The eligibility change is national not just for businesses located in Victoria.

18.01.2022 We appreciate the understanding of our clients that we are taking a little longer than normal to get things done. Our numbers for July show we lodged 18% more returns last month than July 2019.

17.01.2022 The Prime Minister has today given the first hints of JobKeeper post 30 September. We’re running a national program of support. That national program of support will give people in the same areas of need the same support. So it’s not a state-based program or anything like that, the Prime Minister said. I suspect it will go 1 of 2 ways and either be based on industry with those industries appearing to be recovering well and/or trading as normal losing the ability to claim ...payments or businesses not having a 30% reduction compared to same time last year not being able to claim the following month. An example of an industry no longer significantly down compared to same time last year could be accountants or remedial massage or food retailers or perhaps golf clubs. Alternatively a business that has say 90% of the activity in September 2020 compared to September 2019 may not be eligible to claim JobKeeper payments during October 2020. Cash Flow Boost officially ended 30 June and I'd be surprised if it is extended further given it has been available to all businesses based on a turnover criteria irrespective of whether or not COVID-19 has impacted that business. These are just my views on what the Federal Government may do but they are options that make sense to me. Troy.

17.01.2022 With COVID-19 having impacted people in different ways, for some it will mean reduced deductions this year. For example, those working from home are not going to have the same laundry deductions. Another example could be reduced car mileage for the same reason.

14.01.2022 When we advise something isn’t deductible we aren’t trying to be painful. We are just protecting you and ourselves. Claiming bogus deductions just isn’t worth it

14.01.2022 Just had an interesting enquiry from a client about COVID related deductions. Apparently there is a view among a school's community that parents are able to claim the cost of laptops etc for home schooling children as a tax deduction. While many families undoubtedly needed to purchase additional devices due to school closures, these costs are not deductible because they do no relate to income. They same client also advised they had heard there is also a deduction this year... to drive children to school if the family lives more than 5kms from the children's school. Again, these costs are private in nature and therefore not deductible. We suspect someone may have claimed these things and the ATO have processed the return and paid any applicable refund so the taxpayers involved have assumed they are correct. Those taxpayers then probably told others and so and and so fourth and then eventually it becomes a "fact". When the ATO process a tax return, it does not meant they have accepted any or all deductions claimed. In Australia we operated under a self-assessment system which means, initially, you tell the ATO what your deductions are and they accept them. The validity of deductions is only tested if the return is audited.

13.01.2022 Interesting day in the office today with a friend of ours borrowing a desk to work on a video for British TV promoting a product also aiming to raise funds for Koala protection/conservation. Check out some of his previous work. https://www.youtube.com/watch?v=YNjEj4o3Mrw

10.01.2022 We are starting to wind down (sort of) for Christmas. Tamara will be on leave after today, Troy from midday Thursday and Michelle Friday afternoon. We wish everyone a Merry Christmas and Happy New Year. Bring on 2021.

10.01.2022 Courts take false deductions just as seriously as ATO

10.01.2022 Was able to catch up with some of our Victorian friends yesterday. Very difficult for everyone living down there at the moment. Victorian residents are going to need everyone's support whenever they are able to start returning to some kind of normal.

10.01.2022 Great to catch up with someone we've known for a long time yesterday who happens to work for ATO and happens to be involved with planning audit activities aimed at those who have claimed Job Keeper inappropriately or accessed superannuation when they shouldn't have. ATO are definitely coming. They are doing significant work building profiles of what they feel are areas of concerns based on over 10,000 tip offs they have received so far.

08.01.2022 The Federal Government has announced post-September JobKeeper changes but no word yet on any chance to JobSeeker. We expect JobSeeker will be reduced otherwise JobKeeper would be $1,200 for workers who normally work 20 hours or more per week and $1,300 on JobSeeker. We are also seeing more and more suggestions when the Budget is handed down in October there may well be tax cuts to try to help stimulate the economy

07.01.2022 https://www.accountantsdaily.com.au//14815-we-re-in-the-pe

04.01.2022 With today's announcements our office will be closed on Monday 11 January. All of our scheduled appointments for that day have already been cancelled. For anything urgent until 4pm today, Friday 8 January, please email [email protected] but after 4pm today please email [email protected]. Stay Safe.

04.01.2022 ATO have now began debt collection activities. Based on the small number of calls we have received from them about client's debts it looks like they are taking a very, very gentle and understanding approach to first assess the COVID impact on the taxpayer. Brilliant the ATO has chosen this path but also important for all of us to remember we still need to pay our taxes and if we aren't in a position to pay them right now, they won't go away.

04.01.2022 We've received some inquiries from business clients struggling to find out if they are allowed to operate during the 3 day lock down. We have found the following information you may wish to review to assess your situation. https://www.qld.gov.au//current/greater-brisbane-lockdown

01.01.2022 Most businesses have only claimed if they were legitimately entitled. Those that shouldn't have claimed should know ATO are coming

01.01.2022 Some great news from the Premier’s announcements this afternoon. The current 4 square meter per person rule is to be relaxed for small businesses to 2 square metres per person. This will mean couples will be able to do appointments together with Troy and Tamara rather than 1 at a time. Unfortunately, it will still mean only those who are part of an appointment will be able to come into our office in order to maintain social distancing in our reception area. This sadly means... we will not be able to allow family members (including children) and friends to come in with you unless the total is you plus 1 other unless each person is meeting with us. For example, if a family of 4 makes a group booking, 2 will be able to be in with Troy or Tamara and the other 2 will need to wait and then swap over. "Casinos will be able to be open and concert venues and theatres will be open 50 per cent or one person per one-square metre rule will apply," Ms Palaszczuk said. Source. 9news.com.au We cannot explain why 1 square metres per person is OK for Casinos and concert venues given the random nature of attendees but we are expected to have 2 square metres per person. That said, 2 is much better than 4 as has been the case. There has also been some confusion around clients who live in the same household not needing to comply but because we don’t live with you, we need to comply with restrictions if for no other reason than to make sure we don’t get a nasty fine. In between appointments we are wiping down desks and chairs to ensure your safety is a priority. We also have hand sanitiser in reception and offices for your convenience.

01.01.2022 Yesterday 2 former Prime Ministers strongly provided their views on the potential for the already legislated increase in required superannuation contributions from 9.5% to 10% to be delayed. So what is the issue? Historically, increases to the mandated rate of contributions have been offset against wage increases so that employees still get pay rises overall (take home pay plus super) while not artificially increasing the cost to employers. ... For example, if the industrial umpire felt a 3% wage increase was appropriate, 2.5% would be paid as increased wages and 0.5% as superannuation. The debate is a double edged sword because on the 1 hand, an increase in the rate of superannuation is good for retirement incomes long-term but on the other hand adding extra costs to employers who are already struggling could lead to additional job losses. At the same time, using the 3% example above, the extra 0.5% being paid to workers (the majority of whom will spend it) would be help the economy recover from the impact of COVID. Personally, I like the idea of boosting retirement savings given the plan to ultimately increase mandatory super to 12% has existed for some time and should mean reduced social security benefits needing to be paid in the future. At the same time, I agree there is a strong argument to focus protecting and creating jobs now. A very difficult decision for the Federal Government to make and they will be heavily criticised either way. Troy.