Cooke & Foley in Ballarat, Victoria | Tax preparation service

Cooke & Foley

Locality: Ballarat, Victoria

Phone: +61 3 5331 2600

Address: 17 Lydiard St Level 3 3350 Ballarat, VIC, Australia

Website: http://www.cooke-foley.com.au/

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• Tax preparation service
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• Business consultant

25.01.2022 Cooke & Foley Accountants & Business Advisors acknowledge that our staff and their families together with you, our clients are our most important assets. We advise that have implemented our Business Continuity Plan as a result of the COVID-19 situation and our team is now working remotely effective immediately. We have invested heavily in technology and software over the past couple of years to allow us to still provide the same high quality service to you wherever we may be ...based, ensuring that it’s business as usual. We have determined that these actions are appropriate for the following reasons: To protect the safety, health and well-being of our employees and clients by minimising face-to-face interaction; To provide clear guidance and leadership to our employees; To help flatten the curve of the potential spread of the COVID-19 virus. We acknowledge how challenging it is for all our clients including business owners who have been acutely impacted by how quickly this whole situation has developed. Again please rest assured that we are here for you and available as usual. Please do not hesitate to contact your Advisor via email or call the office on 5331 2600 to speak to them. If you need to deliver documents to the office, please call us on the above number.

25.01.2022 Changes to Employee Awards and Annualised Salaries You may be aware that the Fair Work Commission have implemented some changes to the payroll awards for certain industries. Every four years the Fair Work Commission reviews all modern awards in which they clarify how some award clauses work and also change other clauses. We suggest you check the award that is relevant to your industry at: https://www.fairwork.gov.au/awards-and-agr//list-of-awards ... to ensure all relevant updates and changes are implemented within your payroll system. Another key change that the Fair Work Commission have implemented impacts on employers paying annualised salaries to their employees covered by a modern award. An employer may pay an employee an annualised salary which is intended to compensate the employee for modern award monetary entitlements in regards to their employment. This may include base wages, overtime rates, penalty rates and loadings. The Fair Work Commission have advised that the annualised salary cannot be less that the minimum entitlements an employee would be entitled to under the relevant award and National Employment Standards. These changes commence from the first full pay period on or after 1 March 2020. If you currently pay some of your employees under an annualised salary agreement, we suggest you check: https://www.fairwork.gov.au//new-rules-for-annualised-wage to see how the new requirements will impact your payroll. If you have any queries regarding the above, please contact your advisor at Cooke & Foley on 53 312 600.

24.01.2022 Lest We Forget. In Flanders fields the poppies blow Between the crosses, row on row, That mark our place: and in the sky... The larks, still bravely singing, fly Scarce heard amid the guns below. We are the Dead. Short days ago We lived, felt dawn, saw sunset glow, Loved and were loved, and now we lie In Flanders fields. Take up our quarrel with the foe: To you from failing hands we throw The torch; be yours to hold it high. If ye break faith with us who die We shall not sleep, though poppies grow In Flanders fields. - John McCrae (18721918) #remembranceday #remember #remembering #remembrance #cookefoley #ballarat #ballaratbusiness #ballaratlife #countrylife #ballaratsmallbusiness #ballaratbusinesses

23.01.2022 WE'RE HIRING......... Cooke & Foley, Accountants and Business Advisors are looking to add to our team of accounting professional staff. Ideally we are looking for someone who has worked 2-5 years in a public practice and looking to establish themselves for a career position within our practice.... Position Description available upon request. If you are looking for a change, want to work in a fun, friendly work culture, please forward your resume to: [email protected]

23.01.2022 We are so excited and thrilled to be sharing our new branding with you today! It has been a big project with a great outcome! We wanted our branding to reflect our cutting edge professional, prompt service that we provide as trusted advisors to our clients. We have worked with a number of #ballaratbusiness to create our fresh look. We hope you like it as much as we do! Watch this space transform over the next month or two, so stay tuned!... #branding #newlook #ballarataccountants #ballaratsmallbusiness #ballaratbuisness #smallbusinessadvisors #businessadvice #business #businessowner #cookefoley

23.01.2022 JobKeeper Payment Yesterday the Morrison Government announced the third package of stimulus for eligible Australian employers. The JobKeeper Payment will allow an eligible business that has been impacted by COVID-19 to access a subsidy paid by the Government in order to continue paying wages to its employees. It will also allow eligible businesses without employees, such as the self employed to access the subsidy. Eligible affected businesses and self-employed will be abl...e to claim a fortnightly payment of $1,500 per employee from 30/03/2020 for a maximum period of 6 months. The eligible business must have had a reduction in income due to COVID-19 of more than 30% and must retain the employee relationship to receive the payment. Eligible employers will receive the payment for each eligible employee that was on their books on 1 March 2020 and continues to be engaged by that employer including full-time, part-time, long-term casuals and stood down employees. Casual employees eligible for the JobKeeper Payment are those employees who have been with their employer on a regular basis for at least the previous 12 months as at 1 March 2020. For eligible employees, this means they can keep their job and earn an income even if their hours have been cut. You can find further information regarding this announcement at: https://treasury.gov.au//Fact_sheet_supporting_businesses_ Legalisation to support this initiative will now be drafted and parliament will resume to pass the legislation. We will be able to provide more detailed advice once the legislation is released. If you have any queries regarding the above, please contact your advisor at Cooke & Foley on 53 312 600.

21.01.2022 Meet Jason! Jason is one of our talented Accountants who is also an accredited SMSF Specialist Advisor. Jason loves assisting clients in his specialisations;... -Helping Clients optimise their retirement outcomes through the use of an SMSF; - Helping Clients Understand their Business; - Helping Clients achieve their Business Goals; - Taxation & Business Activity Statement Compliance; - Taxation Minimization Strategies. Jason Lowson is conveniently located at our Lydiard St offices and welcomes the opportunity to speak with potential and existing clients. Connect with Jason Lowson today to discuss the benefits of using a Self Managed Super Fund to grow your wealth. Ph (03) 5331 2600 E [email protected] . . . #ballaratbusiness #ballarat #ballaratsmallbusiness #ballaratbusinesses #ballarataccountant #ballarataccountants #cookefoley #countrylife #regionalvictoria #accountant #accounting #accountants #business #businesstips #businessowner #smallbusiness

20.01.2022 This year for our Staff Christmas Party, the team at Cooke & Foley held a competitive game of mini golf which was won by Matt together with a best dressed competition that hands down was won by Billie. Then of course, we enjoyed a great evening at the Red Lion Hotel.

20.01.2022 Coronavirus (COVID - 19) Support for Business The Morrison Government’s plan to keep business in business and Australians in jobs provides direct support for business including: Payments for business, wage subsidies for apprentices and trainees ... Enhancing the instant asset write-off Assistance for Households You can find further information regarding this announcement at: https://treasury.gov.au/coronavirus/businesses

19.01.2022 Please be advised that due to the Labour Day public holiday our office will close today at 5pm and re-open at 8:30am Tuesday 10th March.

19.01.2022 What a great day for it! The countdown to the festive season has certainly begun.

17.01.2022 2020 is coming to an end. Phew!! Have you seen our annual Advent Calendar? Come back each day and click on the next date for another inspirational quote or poem from some of the greatest writers and poets.... It’s a great anecdote to the year that was! Click the link: https://www.acctweb.com.au/christmas2020/# #adventcalendar #christmasadventcalendar #christmasadvent #cookefoley #christmascheer #inspiration #inspirationalquotes #ballaratbusiness #ballaratsmallbusiness #ballaratbusinesses #ballarataccountant #ballarat #ballaratbusinessadvisor #ballaratbusinessadvisory #ballarataccountants #ballarataccounting

16.01.2022 The March edition of our newsletter has has been completed Topics include: - Are You Losing Sleep Because of Your Business? - Bushfire Support for Small Businesses... - Thinking of Selling Your Business? - Have You Purchased a Luxury Car, Boat or Racehorse in Last 5 Years? - What are the Tax Consequences of Different Business Structures? For the full newsletter please visit: http://www.cooke-foley.com.au/client-newsletters/

14.01.2022 Last Friday the Cooke & Foley team had a fantastic time celebrating the end to another great year @goldrushgolf ! With the team WFH this year, it was great to have some fun and share a beer together. #latergram #ballarat #ballaratbusiness #ballaratsmallbusiness #ballaratlife #ballaratchristmas #ballaratbusinesses #cookefoley

10.01.2022 ATO to resume audit activities. The resumption of its business as usual work programs, which includes engaging with taxpayers who have outstanding payment or lodgement obligations, comes after the Tax Office paused its traditional compliance activities earlier this year in light of the pandemic. The ATO want to emphasise that they will continue to be empathetic to each client’s situation and provide additional time if they need it.... The ATO’s focus will hone in on black or shadow economy behaviour, which has identified that 56 per cent of the $11.1 billion small business tax gap was attributable to taxpayers deliberately avoiding paying the right tax. While the ATO believes just 4 per cent of small business taxpayers are participating in the black economy, over $5 billion is estimated to be missing due to the deliberate under-reporting of business income and over-claiming of business deductions. The ATO have announced that it will continue to use a combination of review and audit programs, delivering help and education and building community awareness of our work to address the shadow economy. If you are contacted directly by the ATO please contact your advisor at Cooke & Foley. . . . #ballaratbusiness #ballaratbusinesses #ballaratsmallbusiness #ballarataccountant #ballarataccountants #cookefoley #accountant #accountants #businessowner #businesstips #businessadvice #businessadvisor #businessadvisory #ato #tax #taxcompliance

09.01.2022 At Cooke & Foley tax accountants and business advisors, we pride ourselves on our passion and drive to obtain the best possible results for our clients. In the turbulent environment that we find ourselves in, we are focused on achieving the best possible outcome, regardless of the situation. If you are in need of assistance, please don't hesitate to call Matt or any of our dedicated staff members. We'd love to hear from you.

08.01.2022 The Government’s JobKeeper Payment has been an essential lifeline in helping businesses impacted by the COVID-19 pandemic retain their employees and in assisting sole traders. The Government announced on 21 July 2020 an extension of the JobKeeper Payment for a further six months until 28 March 2021, with the Payment tapered and targeted to those businesses that continue to be most significantly affected by the economic downturn. Want to learn more about planning for the end o...f JobKeeper and how it this can assist your business? Connect with Cooke & Foley today Ph (03) 5331 2600 E [email protected] #ballaratbusiness #ballaratsmallbusiness #ballaratbusinesses #ballarataccountant #ballarataccountants #ballarataccounting #accountant #accounting #accountants #business #businessowner #businesstips #supportballaratbusiness #smallbusiness #smallbusinessaustralia #smallbusinessowner #ballarat #cookefoley

08.01.2022 Another beautiful day to be by the water in Ballarat! Thanks @ballaratyachty for the inspiration! . . .... #ballaratyatchclub #ballarat #ballaratbusiness #ballaratlife #ballaratsmallbusiness See more

06.01.2022 The staff at Cooke & Foley Accountants wish you a happy and safe Easter weekend!

06.01.2022 Cooke & Foley - Business Advisors & Accountants

05.01.2022 SCAM ALERT Given COVID-19 crisis, scammers are currently taking advantage of people’s vulnerability during this period of uncertainty in the world. We have been informed by authorities and clients of the following scams circulating:... 1. A phone call from the ATO declaring a payment must be made immediately 2. An email received from a Telstra account requesting 2 step authentication be turned off for Xero 3. An email from iinet stating payment details had expired and to follow the link to update payment details While the scam calls may appear to be from the ATO with a spoofed caller ID, it is important to remember that a legitimate caller from the ATO will never: threaten you with arrest demand immediate payment, particularly through unusual means such as bitcoin, pre-paid credit cards or gift cards refuse to allow you to speak with a trusted advisor or your regular tax agent or present a phone number on caller ID. If you are in any doubt about an ATO call hang up and phone them on 1800 008 540 to check if the call was legitimate or report a scam. This advice can be found at https://www.ato.gov.au//Onl/Identity-security/Scam-alerts/ Scammers are getting increasingly sophisticated in their attempts to get your money or personal details. Be alert and protect yourself from being scammed by educating yourself at https://www.scamwatch.gov.au/ge/protect-yourself-from-scams If you have queries regarding the above, please do not hesitate to contact your advisor at Cooke & Foley, Accountants and Business Advisors on (03) 53312 600.

04.01.2022 At Cooke & Foley we understand the challenges that you and your business will be experiencing during this COVID-19 crisis. We are here to help you through the coming weeks and months to ensure you and your business maximise the Federal and State Government stimulus packages available as well as minimising your income tax obligations. We will co-ordinate and manage all or any of the following for you:... JobKeeper Registration and Declarations; Applications for State Government Funding and other relief; Cash Flow Boost for Employers; PAYG Instalment Variations and Refunds; Negotiations with the ATO regarding outstanding debt; Business Continuity Plans; Cashflows, Budgets and Scenario Planning; Tax Planning Review; Provision of information required for Loan Applications/Refinancing and Centrelink Applications; Applications to your landlord regarding rental relief; Estate Planning. We can guide you through the above options and we welcome the referral of your business colleagues who may also benefit from our personalised service during this process. The sooner we get started, the sooner we can achieve great results for you, so ring us now on 5331 2600.

04.01.2022 The team at Cooke & Foley wish you a joyous festive season and prosperous 2021. We would like to sincerely thank our loyal clients, partners and community for their support during 2020. In lieu of greeting cards this year, Cooke & Foley has once again proudly donated to the Fiona Elsey Cancer Research Institute a world renowned cancer research institute in Ballarat.... Our office will be closed from Wednesday 23rd December 2020 at 1:00pm and we will re-open on Monday 11th January at 8:30am. #ballarat #ballaratbusiness #ballaratbusinesses #team #community #communitysupport #charity #christmas #christmasinballarat #christmasgifts #ballaratchristmas #ballaratlife #ballaratlifestyle #ballaratcommunity #ballaratcommerce #commerceballarat #cookefoley #accountants #accounting #accountant #ballarataccountant #ballarataccountants #ballarataccounting #smallbusiness #smallbusinessowner #ballaratsmallbusiness

02.01.2022 INTEREST RATES Following on from the RBA’s most recent rate cut the banks have all rushed to announce their own cuts. All of the major banks have announced that they will be passing on the full 0.25% cut to their variable homeloans, as have the majority of the smaller lenders. This now makes four rate cuts by the RBA since June last year. Some lenders have passed on more of these cuts than others. Some have passed more on to new customers, rather than existing customers, som...e have only dropped rates on certain types of loans. This makes understanding if your loan is right for you more difficult than ever. It also makes now the ideal time to review your lending, to ensure that you are benefitting in full from these cuts. Whilst most lenders have announced they are cutting variable rates by 0.25%, fixed rates have been slashed by some lenders, with cuts of up to 0.80% in some cases. Most economists are forecasting at least one more cut, but potentially two by the end of the year. This has already been somewhat priced in by banks when dropping their fixed rates, meaning we may not see much of a drop to fixed rates when/if the RBA next cuts official rates . If these predicted cuts reflect the bottom of the interest rate cycle it may be worth looking at fixing your rate, not because rates are likely to increase in the near term, but because they are unlikely to decrease much further. The official cash rate is currently sitting at 0.50%, so if the Reserve Banks cuts twice more they will then need to go into negative rates for the first time in history (in Australia) if they wish to cut further. If this is not something they are willing to do, we are very near the bottom for fixed rates, if we aren’t already there. If you would like to review your lending please feel free to get in touch with Nathanial at Juno Lending and Finance Phone 0418 368 693 or [email protected]

02.01.2022 WE’RE HIRING Cooke & Foley, Accountants & Business Advisors are looking to employ a degree qualified accountant to add to our professional team. Ideally, we are looking for a mature & vibrant personality who is looking to establish themselves in an energetic and focused team of professionals who are committed to achieving quality of outcomes for our clients.... Position Description available upon request. If you are ready for a change and a challenge, please forward your resume to : [email protected]

01.01.2022 IMPORTANT ADVICE RE JOBKEEPER If you are already registered for the JobKeeper program, the Australian Taxation Office has started to issue payments for fortnight one and two. If you are yet to receive your funds, you should see them within the next week. A reminder that fortnight 3 ended on Sunday 10/05/2020. You need to ensure that all eligible employees receive gross payments of at least $1,500 for each and every fortnight.... If you are not currently registered for the JobKeeper program because you didn’t qualify for April 2020 but you have noticed a reduction in turnover already for the month of May, please contact your Cooke & Foley Advisor to discuss your eligibility.