Eagle Accounting in Woree, Queensland | Financial service

Eagle Accounting

Locality: Woree, Queensland

Phone: +61 7 4040 2033

Address: 2 / 608 Mulgrave Road 4868 Woree, QLD, Australia

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

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25.01.2022 Far North TOURISM Multi-Million-Dollar LIFELINE Gov announced $11.3 million package to boost Far North Queensland tourism as part of the government’s economic recovery strategy to assist businesses to make it through COVID-19. $6.5 million for 4 shovel-ready PROJECTS creating 127 construction jobs and more than 50 ongoing jobs... $3 million to help attract major EVENTS to the regions $1.8M to assist REEF FLEET operators The four PROJECTS offered support are: $500,000 towards Wildlife Habitat's new CrocArena at Port Douglas, including enclosures for three iconic male crocodiles, a presentation platform, stadium seating and the ability for guests to "Snorkel with the Salties $2 million towards an additional 40 van sites, amenities block and other supporting infrastructure for Paronella Park at Mena Creek. $3 million towards the construction of Dreamtime Island for Reef Magic Cruises in Cairns. This will be a large floating activity platform on the northern Great Barrier Reef showcasing the reef, indigenous culture and sustainable scientific reef research. $1 million towards the construction of up to 21 air-conditioned, en-suite accommodation units to support the Undara Experience including the famous Lava Tubes at Mount Surprise Learn more - https://statements.qld.gov.au/statements/90600

24.01.2022 Have you RENEWED your WORKCOVER? The Accident insurance policy with WorkCover Queensland, which covers businesses for the cost of any work-related injuries to workers, is due for renewal. WAGE declarations are due by 31 AUGUST 2020 More information - https://www.worksafe.qld.gov.au//its-time-to-renew-your-wo

24.01.2022 2020 end of year PAYROLL PROCESSING is NOT business as usual !!! With the introduction with Single Touch Payroll (STP) Payment summaries are a thing of the past.. These are now called INCOME STATEMENTS and will be issued electronically from your payroll software to employee MyGov accounts.... Tax agents can also access the information on the tax agent portal once the employer finalises the Income Statements Employers take note! To prepare the Income Statements, make sure you have Processed all payruns for the year Reconciled your wages, wages payable, superannuation and PAYG withholding accounts All employee details are correct Income Statements must be finalised and available to employees on MyGov by 14 July 2020 if you have more than 19 employees 31July 2020 if you have less than 19 employees ATO link for EOFY using STP https://www.ato.gov.au//End-of-year-finalisation-through-/ If you have NOT setup STP you haven’t been lodging pay runs to the ATO electronically. You will need to do your end of year processing as you have in the past, and report to the ATO by 14 August 2020.

24.01.2022 JOBKEEPER CONTINUES As you are probably aware, the government has announced there will be a continuation of JobKeeper past September, for eligible business participants. There will be 2 phases:... 1. October to December 2020 (JK#2), and 2. January to March 2021 (JK#3) Recipients will need to pass new eligibility tests The amount of JobKeeper payments will reduce Employees working less than 20 hours per week will receive a lower payment JK#2 : October to December 2020 Eligibility test GST Turnover reduction of >30% must be satisfied for both the June 2020 quarter (as compared to the June 2019 quarter) AND the September 2020 quarter (as compared to the September 2019 quarter). Payments The amount of JobKeeper payments will reduce to $1,200 per fortnight if an employee works 20 hours or more per week $750 per fortnight if an employee works less than 20 hours per week JK#3 : January to March 2021 Eligibility test Having satisfied the first JK#2 turnover tests, the participant must also display a GST Turnover reduction of >30% for December 2020 quarter (as compared to the December 2019 quarter). Payments The amount of JobKeeper payments will reduce to $1,000 per fortnight if employee works 20 hours or more per week $650 per fortnight if employees works less than 20 hours per week

23.01.2022 MASSIVE thank you Ramada Hotel Cairns City for the use of your BEAUTIFUL function room for our recent information evening for Agents The timeless colonial style and bright and breezy (HUGE) room was the perfect area to host our event ALSO thank you to Fair Trading Queensland for assisting with the presentation and providing much needed answers

22.01.2022 EXTENSION of the JobKeeper payment for eligible employees on 1 July 2020 NOW LEGISLATED The Treasurer has now updated the rules to the relevant date of employment for eligible employees changing from 1 March 2020 to 1 July 2020. We recommend that you review your previously ineligible employees to see if they may now be included in the JobKeeper system. ... Before making any payments please make sure you have the completed Employee nomination form (1 July employees only) and they have agreed to be nominated to receive this payment from you. If you do have new employees and they have signed and accepted the JobKeeper, the first fortnight they may be eligible for the payment is the fortnight ending 16 August 2020 (fortnight #10). According to the ATO JobKeeper key dates you will have until the 31 August 2020 to enrol, and pay JobKeeper to those eligible employees for the August reporting month. Just a reminder about the employee eligibility requirements; You were employed as a non-casual employee or Long-term employee for the 12 months period that ended 1 July 2020 You were 18 years or older (if you were 16 or 17, you must be independent or not undertaking full time study on 1 July 2020) An Australian resident (within meaning of the social security act 1991) An Australian resident for the purpose of income tax assessment act 1936 and the holder of subclass 444 (special category) visa. Your employees are not eligible if they are; In receipt of government parental leave or Dad and partner pay under the Paid Parental leave act 2010 Receiving payment in accordance with Australian worker compensation law for an individual's total incapacity for work. Started work for your employer before 1 July 2020 For WorkCover purposes, JobKeeper is excluded from ‘wages’ totals when submitting your yearly estimated wages.

22.01.2022 JOBKEEPER 2.0 Rules released This is for the extension of the Jobkeeper from 28 September 2020 through to 28 March 2021 The first extension period is from 28 September 2020 to 3 January 2021...Continue reading

21.01.2022 SCAM WATCH ALERT - Have you seen something suspicious? Scammers are pretending to be government agencies, contacting through text messages and emails ‘phishing’ for your information. These contain malicious links and attachments designed to steal your personal and financial information. TIPS to PROTECT yourself from SCAMS:... - Don’t click on hyperlinks in text/social media messages or emails, even if it appears to come from a trusted source. - Go directly to the website through your browser. For example, to reach the MyGov website type ‘my.gov.au’ into your browser yourself. - Never respond to unsolicited messages and calls that ask for personal or financial details, even if they claim to be a from a reputable organisation or government authority just press delete or hang up. Learn more - https://www.scamwatch.gov.au/news-alerts

20.01.2022 WAGE INCREASE OF 1.75% STARTING 1 July 2020 FOR THESE INDUSTRIES Are you in the Frontline healthcare and Social assistance, Teachers and Child Care OR Other Essentials Services awards If yes, then there is a wage increase starting from the first pay from 1 July 2020.... Please review your employees pay rates to make sure they are not below the minimum award rates If you are in other industries, then the wages increase will fall either from 1 November 2020 or 1 February 2021. Please visit fairwork.gov.au or contact your HR provider for more information.

19.01.2022 FNQHF Volunteers are providing an AMAZING service - SHOUTING health professionals a COFFEE Support our local hero's #shoutthemacoffee You may even see our donated KEEP CUPS... DO your bit here - https://www.fnqhf.org.au/coffee

18.01.2022 Are your PASSWORDS strong enough to PROTECT you? Find out below -

17.01.2022 HOW are you keeping track of your DEDUCTIONS? The ATO myDeductions app is a valuable tool as it makes it easier and more convenient to keep your expense and income records in one place Simply download the ATO app to your smart device... - select the myDeductions icon - step through and choose whether you'd like to use the tool as an individual, as a sole trader or both WHAT DOES IT RECORD? - expenses and deductions - vehicle trips - income (if you're a sole trader) - photos of your invoices and receipts HOW DO I BENEFIT FROM THE APP COME TAX TIME? When you are ready to do your tax return you can: - email your data, including to your tax agent - upload your data to prefill your tax return, then either: you can lodge it or your tax agent can access your uploaded data through their practice management software Download here - https://www.ato.gov.au/General/Online-services/ATO-app/

17.01.2022 XERO software ‘STARTER PLAN’ has been revised Xero has revised their starter plan package to be more accessible to small businesses The subscription costs $25 per month... Originally the starter plan was only available for micro sized businesses, and therefore had limited take up NOW 20 invoices per month NOW Unlimited bank transactions STP compliant for 1 employee 5 bills per month The ‘Starter plan’ is now a more cost effective entry level solution for small businesses, AND businesses can DOWNGRADE their existing Xero subscription if this package now fits them If you need more information see Xero’s website, or give us a call to discuss - https://www.xero.com/

16.01.2022 TAX TIME 2020 Changes & time frames Can I LODGE my 2020 tax return NOW? The ATO started processing 201920 tax returns on 5 July 2020 and expect to start paying refunds from 16 July 2020; with an aim to finalise the majority of electronically-lodged current year tax returns within 12 business days of receipt.... 2020 PAYG Summaries are now called Income Statements Most employers are now required to report employees pay, tax and super information direct to the ATO each payday using STP (Single Touch Payroll), so all your payroll information is aready reported to ATO ready for tax time. An employer who reports using STP does not have to issue payment summaries. Employees will get an end-of-year income statement in ATO online services through myGov. Your payment summary information will be available: company with 20 or more employees will be finalised by 14 July 2020 company with 19 or less employees will be finalised by 31 July 2020. Learn more: https://www.ato.gov.au/tax-professiona/prepare-and-lodge//

16.01.2022 Did you receive more JOBKEEPER PAYMENTS for August? Unlike prior months, August JobKeeper recipients received 3 payments instead of 2 throughout the month. From an employers perspective - $4,500 per employee rather than $3,000 for the month of August. This is simply due the fortnightly payments landing 3 times during the month instead of 2.... See table below for more detail - https://www.ato.gov.au//JobKeeper-Pa/JobKeeper-key-dates/

16.01.2022 Stage 2 minimum WAGE INCREASE of 1.75% from 1 NOVEMBER 2020 Are you in the following industries? Construction Manufacturing... A range of other industries (see link below for all these awards as it is quite extensive) If so, please make sure you check the new award rates from first payment after 1 November 2020 Please refer to the fair work website for more information on the stage 2 awards: https://www.fairwork.gov.au//the-commission-has-announced- Stage 3 increase will not apply until 1 February 2021 for the following industries Accommodation and food services Arts and recreation services Aviation Retail Tourism

14.01.2022 AUDIT claims across AUSTRALIA 2020 SEE what Aussies made audit claims for in the last financial year:

14.01.2022 What are your 2020 goals and how do you PLAN to achieve them? PLANNING can make your life easier and set you up for a successful year - MAJOR STRESS-MANAGEMENT TOOL... Actively planning, instead of passively reacting, is proven to reduce stress and can lead to more fulfilling, intentional living GOOD FOR YOUR BRAIN Planning can help you learn and remember more. Writing out your plans is beneficial for your brain. HELPS YOU ACHIEVE MORE GOALS Planning increases your ability to track short- and long-term goals. Jot down the steps necessary to achieve them. SO make a plan and goal for it! SAVES YOU TIME Time management is a skill essential for success (and sanity), but we all know the struggle is REAL. MAKES YOU HAPPIER Research suggests that planning for something can boost your mood and make you feel happier ...and don't forget DREAMS ARE GOALS WITHOUT DEADLINES !

12.01.2022 Do you maintain a TRUST account and want to minimise AUDIT risk? Eagle Accounting have invited members from the Office of Fair Trading to speak at an information evening Representatives of OFT will highlight and discuss compliance areas they are focussing on, and provide best practice advice specifically focused on trust accounts and the Agents Financial Administration Act 2014... We highly recommend you take this opportunity to hear directly from the regulators, and have your questions answered We will follow up this session by discussing some strategies to manage your finances through the tourism fallout Light refreshments will be provided Due to Covid19 we need to confirm numbers, so please advise as soon as possible. See you there! Register - https://www.eventbrite.com.au/e/information-evening-for-age

11.01.2022 JOBKEEPER Quarterly testing changes announced not legislated yet The government has announced it will relax the eligibility criteria for JobKeeper #2. Probably because there will be many businesses which recovered in the June quarter but have deteriorated again as a result of the ‘second wave’ of COVID-19. Instead of having to demonstrate the 30% reduction in turnover in both the June and September 2020 quarters, businesses will only have to show a fall in the September 20...20 quarter compared with the September 2019 quarter. JobKeeper # 2 covers the October December quarter. Then, to qualify for JobKeeper #3 (covering the January March 2021 period) businesses will only have to show a fall in the December 2020 quarter compared with the December quarter in 2019. EXTENSION of the JobKeeper payment for eligible employees on 1 July 2020 not legislated yet We have had a few calls in relation to the extension of JobKeeper and the relevant date of employment for eligible employees changing from 1 March 2020 to 1 July 2020. Just to be aware - This is only a treasury announcement, and is not legislated yet. Until it is, the current date of 1 March 2020 applies. The proposed change announced on 3 August 2020 means you may have more eligible employees qualify for JobKeeper payments. We recommend that you review your previously ineligible employees to see if they may now be included in the JobKeeper system. If you do have new employees, the first fortnight they may be eligible for the payment is the fortnight ending 16 August 2020 (fortnight #10). Until the legislation is passed we advise you to hold off making any payments to those employees. We expect to have certainty around this after parliament sits on 24 August 2020. According to the ATO JobKeeper key dates you will have until the 31 August 2020 to enrol, and pay JobKeeper to those eligible employees for the August reporting month. Please follow link to the current JobKeeper factsheet from Australian Treasury. Please note these factsheets are updated as policy changes and legislation is effected. Link - https://treasury.gov.au/coronavirus/jobkeeper

11.01.2022 Cash is KING! This quote is facing serious threat as the world marches toward becoming a CASHLESS SOCIETY When the World Health Organisation (WHO) released a statement on 9 March recommending people turn to digital payments to fight the spread of COVID-19, the march toward cashless societies suddenly picked up pace. Learn more:https://www.intheblack.com//cashless-payments-spike-in-fig

07.01.2022 Eagle Accounting proudly supports PINK SHIRT DAY 2020 Help LIFT EACH OTHER UP this year by wearing PINK with Woree State School

07.01.2022 Did you receive an unexpected CREDIT on your account from the ATO?? IF SO this may apply to YOU

07.01.2022 How was your ANZAC day? Honouring the Vets with the FAMILY - A Saxophone last post and homemade stand to raise the FLAG LEST WE FORGET

04.01.2022 Eagles proudly support Olivia Van Wensveen of Grant Thornton Cairns for her participation in the 2020 Cardiac Challenge - raising money for Far North Queensland Hospital Foundation. Go Olivia !!

03.01.2022 HOUSEHOLD RESILIENCE PROGRAM The Household Resilience Program provides funding to help eligible home owners in coastal parts of Queensland improve the resilience of their homes against cyclones. The program is now open for applications - https://www.qld.gov.au//fina/household-resilience-program

02.01.2022 We were lucky enough to have a Work Experience student from St Andrew's Catholic College this week assisting us in our office. MASSIVE thank you to VPG - Vocational Partnerships Group for providing such a wonderful opportunity to the students AND of course our student - Sam!!

01.01.2022 Mental Health Week, celebrated annually in October, promotes the importance of mental health and wellbeing and aims to reduce the stigma associated with mental illness. Get involved and learn more about what your workplace can and should be doing to reduce the risks of psychological illness and injury. Tools & resources - https://www.worksafe.qld.gov.au//mentally-healthy-/toolkit