Elliotts Accounting Toowoomba in Toowoomba, Queensland | Tax preparation service

Elliotts Accounting Toowoomba

Locality: Toowoomba, Queensland

Phone: +61 7 4659 3333

Address: 152 Margaret Street 4350 Toowoomba, QLD, Australia

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

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25.01.2022 Rental property owners: Has your income from your property been affected by COVID-19? Our FAQs answer tax-time questions such as: What expenses can I claim i...f my tenants arent paying their rent under the lease agreement? If I decide to reduce the amount of rent I charge my tenants, will my deduction for rental property expenses be reduced? If I receive a back payment of rent or an amount of insurance for lost rent, do I have to include this as income? Find the answers to these questions and more at www.ato.gov.au//c/individuals-frequently-asked-questions/

24.01.2022 Have health insurance? Remember your health insurer is no longer required to send you a private health insurance statement. Instead, theyll let us know and we...ll automatically include it in your tax return by the end of July. Check if your health fund information has already been pre-filled in your tax return at www.ato.gov.au//Lodging-/In-detail/Pre-fill-availability/

24.01.2022 Pound, Yen, Peso, Euro.. Are you an Australian resident for tax purposes who received income from overseas last financial year? Whether you were paid in... cash or earned interest from an overseas bank account, remember to include any foreign income in your tax return. For more info about what income you need to declare in your tax return, visit www.ato.gov.au//inc/income-you-must-declare/foreign-income

23.01.2022 CONTACT TRACING UPDATE: Queensland Health has updated its Active Contact Tracing Alert list, and both Jamaica Blue and The Ridge Shopping Centre have been remov...ed! With further information available, health authorities have been able to confidently determine the recent COVID-19 case was NOT infectious in the community, in Toowoomba. Details #WINNews6pm https://www.qld.gov.au//cor/current-status/contact-tracing

23.01.2022 When it comes to learning, reading detailed text isnt for everyone. Thats why weve created Easy Read guides to share information in a different way. Easy Rea...d guides are simple to understand, with pictures used to help explain some ideas. They cover scam awareness, completing your tax return and other topics. Find out more at ato.gov.au/EasyRead See more

23.01.2022 Lock down Lifted from 12pm today, but continue to wear your masks for the next 14 days! Hope everyone has a great Easter break!! #superannuationtoowoomba #elliottsaccounting #toowoombaaccountant

23.01.2022 Congratulations to Graham, Anthony, Shaun and the team of the Hip Pocket Rockets DDBBL (including our very own Heath Bateman) for the exciting win in the Final of the Darling Downs Bush Bash League on Sunday night!!

23.01.2022 RBA's April Cash Rates remains at 0.1.

23.01.2022 Dont forget about our competition for New and Referrers of New Clients!!!

22.01.2022 Temporary residents: If youre eligible for COVID-19 early release of super, you have until 30 June to apply. The measure wont be open to temporary residents i...n the 2020-21 financial year. To apply, youll need to meet specific eligibility criteria. This includes holding an applicable visa type and being unable to meet immediate living expenses due to the financial impact of COVID-19. Check out all the details at www.ato.gov.au//Withdrawi/COVID-19-early-release-of-super/

22.01.2022 RBA Keeps Rates on hold!

21.01.2022 Healthcare workers have been Australias heroes during COVID-19 If youre a doctor, specialist, nurse, midwife, paramedic or carer, weve developed info t...o help you understand what you can claim at tax time. Check-up on our health industry work-related expenses guide at www.ato.gov.au//I/Occupation-and-industry-specific-guides/

21.01.2022 Small businesses: Have you thought about whether your business can take advantage of available tax concessions? Your small business may be: eligible for the... expanded Instant asset write-off able to claim immediate deductions for prepaid expenses, or able to estimate the value of your trading stock instead of doing a full stocktake. Keep track of your expenses so you can make it easier for you, or your tax agent, when it comes time to lodge Check out our video for more tips to help small business, or visit www.ato.gov.au//Starting-yo/Supporting-your-small-business

20.01.2022 Small businesses: You may be able to reduce your tax by up to $1,000 with the small business income tax offset. You may also be eligible for the low and middle... income earner tax offset, which is for individuals and can be up to $1,080. You dont have to do anything for these offsets to apply just lodge your tax return and well work it out for you To find out more about concessions that apply to your small business, visit www.ato.gov.au//Small-/Concessions/Concessions-at-a-glance

20.01.2022 Were working hard to make sure the right people are getting support when they need it most during COVID-19. As part of this, we are on the lookout for fraud, s...chemes and illegal behaviour Where people are taking advantage of the support available, well take firm action to make sure that the system is fair We want to ensure support gets to the people who need it as quickly as we can. If youre concerned that someone is doing the wrong thing, tell us about it. Learn more at www.ato.gov.au/General/COVID-19/COVID-19-compliance-measures

20.01.2022 Keep your super (and choccy) eggs in one basket Having several super accounts could mean you’re paying multiple fees and charges which may reduce your retire...ment savings. To track, grow, and consolidate your super, hop on over to www.ato.gov.au//Growing-your-s/Keeping-track-of-your-super

19.01.2022 RBA Announce Cash Rate to remain the same.

19.01.2022 Tired of tracking down stray receipts when tax time rolls around? Save yourself some extra work at tax time! Use our myDeductions tool in the ATO app to sna...p photos of your work-related expense records and upload your info straight into your tax return. You can also keep your vehicle logbook and other records in the one place! Investigate it for yourself - download the app at www.ato.gov.au/General/Online-services/ATO-app/myDeductions

18.01.2022 Employers: This is the final call to apply for the super guarantee amnesty. Catch up on past unpaid super once and for all! Payment plans are available if you w...ant to apply but dont have the funds to pay right now. Any amnesty payments you make before it ends on 7 September 2020 are tax deductible. To make payments youll need the payment reference number well send you once weve processed your application. If you need it sooner you can Request it through the Business Portal Phone us on 1800 815 886. To learn more about the benefits of the amnesty and to apply, visit www.ato.gov.au//Super-fo/Superannuation-guarantee-amnesty/

17.01.2022 Employers: Your next super guarantee payments are due to your employees’ super funds by Wednesday 28 October. If you’re having difficulty meeting your super obl...igations because of COVID-19, contact us to discuss your situation and the options available on 1800 806 216. For more information on super guarantee due dates and payments, visit www.ato.gov.au//Paying-super-contributi/When-to-pay-super/

17.01.2022 Did you dig deep and donate to charity last financial year? Whether it was a wildlife rescue organisation or a bushfire appeal, if your gift or donation was m...ade to an approved deductible gift recipient (DGR), you may be able to claim it as a deduction on your tax return. Find more at www.ato.gov.au//Deduc/Other-deductions/Gifts-and-donations See more

15.01.2022 Businesses: There was no increase to fuel tax credit rates today. If you use fuel in heavy vehicles or other machinery for your business, check out the current rates at www.ato.gov.au/Bu/Fuel-schemes/Fuel-tax-credits---business/

15.01.2022 Have to watch out for parallelogram season!!!

14.01.2022 Businesses: Its time to make your next monthly business declaration for JobKeeper payments You have from the 1st to the 14th of each month, to claim payments... made to your employees in the previous month. The sooner this declaration is made, the sooner you will be reimbursed. For more info, visit www.ato.gov.au//Employers/Enrol-for-the-JobKeeper-payment/

14.01.2022 Calling all teachers! Its time to study your tax deductions so you can get an A+ on your return. See our cheat sheet of what you can and cant claim: You can... claim working from home expenses. You cant claim the cost of gifts you buy for your students or any time you pay for their personal expenses (e.g. their lunch, excursion fees or school books). You can claim self-education expenses if the course relates directly to your current job. You cant claim a deduction if your study is only related in a general way to your job, or is designed to help you get a new one. You can claim a deduction when you drive between alternate workplaces for the same employer on the same day (e.g. from your school to another school to supervise an exam). Want to learn more? Check out www.ato.gov.au//Teacher-and-education-professionals---inc/

14.01.2022 Small employers: Have you finalised your STP records? If you have 19 or fewer employees, the deadline for making a finalisation declaration through your Single ...Touch Payroll solution is 31 July. Its easy to do and ensures your employees can lodge their tax returns accurately and on time. Find out more at www.ato.gov.au//Star/End-of-year-finalisation-through-STP/ See more

14.01.2022 Masks on Queensland!! #ToowoombaAccountant #SuperannuationToowoomba #Elliottsaccounting

12.01.2022 Employers: If you’re eligible, you’ll receive your final instalment of cash flow boost credits when you lodge your September activity statement. Use our Cash f...low boost estimator to help calculate and plan for the credits you may receive. For more information visit: www.ato.gov.au//In-deta/Boosting-cash-flow-for-employers/

12.01.2022 If youve been financially affected as a result of COVID-19, you now have more time to access some of your super. Applications for COVID-19 early release of sup...er have now been extended to 31 December 2020. Remember You can still only apply once in this financial year. Check if youre eligible at www.ato.gov.au//Withdrawi/COVID-19-early-release-of-super/

12.01.2022 New Financial Years Eve!!! Last chance to get those deductions in for the 2020 tax year :)

11.01.2022 Happy Birthday to us!! It is our 73rd Birthday today!!!

11.01.2022 Hands up if you think its important to teach financial literacy in our schools? We do! Thats why we have developed the following resources to help Australia...n teachers teach tax and super: Paying It Forward - a primary school resource which focuses on values and actions to help establish strong foundations for tax and super. Tax, Super + You - a secondary school resource which teaches tax and super, with fun, animated and interactive elements designed to appeal to students. To find out more about our resources, visit www.ato.gov.au/General/Education-zone/

09.01.2022 Its nearly Tax Time for 2020, who is excited? We are officially getting our software rolled over on 30 June 2020, so all going well we should be able to start processing tax returns by 1 July 2020. The Tax Office have advised that they wont start processing returns until 5 July 2020, and they envisage to start sending out refunds by 16 July 2020. They have also said that a lot of the information available for pre-fill per the ATO portal will not be available until 31 July ...2020. See you all soon!!

09.01.2022 Some of our payments are taxable. This means you might need us to take tax out of your payment to avoid a debt with the Australian Taxation Office at the end of... each financial year. If youre unsure how much tax you need to pay, you can use the tools on the Australia Taxation Office website to help you: https://www.ato.gov.au/Calculators-and-tools/ To find out more about setting up a tax deduction on your income support payment, watch the video below or theres more information here: www.servicesaustralia.gov.au/taxonapayment

06.01.2022 We are Proud to be a Silver Sponsor for Highfields & Districts Railways Cricket Club for season 2020/21!! Go the Doggies!!!

06.01.2022 Businesses: Its time to make your JobKeeper monthly business declaration for August Remember - August has 3 fortnights, so dont forget to claim your eligib...le employees for all of them. If you have newly eligible employees include them in the claim from JobKeeper Fortnight 10 (which started 3 August). Weve created a new fact sheet to explain the steps you need to take to add newly eligible employees, visit www.ato.gov.au/General/JobKeeper-Payment/JobKeeper-guides/

06.01.2022 Great news weve extended the 80c per work hour shortcut method for claiming working-from-home expenses until 30 September 2020! With everything going on... right now, 12 months may seem a world away but, its important to keep good records now to make life easier when you lodge your tax return next year. For more info on claiming working-from-home expenses, visit www.ato.gov.au//deductions-you-can-c/home-office-expenses/

05.01.2022 Contractors and consultants do you provide any of these services? Building and construction Cleaning Courier Delivery and road freight ... Information technology Security, investigation or surveillance Businesses who pay you to provide these services may need to include your payments to us as part of their annual reporting. Well use this info to prefill these payments in your tax return, making it easier for you to get tax time right! Learn more at www.ato.gov.au//taxable-payments-reporting---what-it-mea/ See more

05.01.2022 Employers: Have you updated your payroll software or processes to reflect the updated tax tables? Remember you must be withholding the correct amount from payments you make to employees by 16 Nov 2020. Check out the updated tax tables at www.ato.gov.au/Rates/Tax-tables/

05.01.2022 COVID-19 ALERT: Toowoomba's Ridge Shoppingworld has closed its Jamaica Blue cafe after a customer reportedly infected with COVID-19 visited the store last Frida...y between 11:15am - 12:15pm. Anyone who visited the cafe during this time is a 'close contact' and is required to quarantine for 14 days. More: https://7news.link/3ryZQk1 7NEWS at 6pm. #COVID19 #7NEWS

04.01.2022 Happy New Financial Year!! We are ready to roll to do those all important tax returns! So come and see us :)

04.01.2022 Claim education expenses? Remember they must have a sufficient connection to your current job and maintain or increase the knowledge, capabilities or skills ...you need for your role. When completing your tax return, there are two types of claims you can make: Self-education expenses this can be a formal qualification at university or TAFE. If youre lodging your tax return using myTax, you can claim these expenses at the Work-related expense self education question. Seminars, training courses, education workshops or conferences - this may include formal education courses provided by professional associations. If youre using myTax, you can make these claims at Other work-related expenses label. You cant claim the repayment of loans you receive to help pay for your self-education or study expenses (like HECS or VETSL). Read more at www.ato.gov.au//Seminars,-conferences-and-training-courses/

04.01.2022 Jobkeeper will be Extended to 28 March 2021, amounts will be reduced and the eligibility criteria will change. There are also changes to Jobseeker too.

03.01.2022 Employers: Single Touch Payroll deadlines are just around the corner! Youll need to finalise and report to us by: 14 July, if youve got 20 or more employ...ees 31 July if you have fewer than 20 employees. Theres still time left on the clock, but if your datas ready to go now, why not avoid a last-minute rush? Find out more at www.ato.gov.au//Star/End-of-year-finalisation-through-STP/

03.01.2022 RBA's Official Interest Rate cut to 0.1%, in their November decision.

02.01.2022 Heard about the new changes to Jobkeeper? Give us a call if you want to discuss.

02.01.2022 SCAM ALERT Were seeing a growing number of people making large payments for fake tax debts. Dont get caught! These phone calls will tell you that you owe ...money and need to pay it straight away or youll be arrested. The scammer will try to keep you on the line until you pay, often by unusual methods such as bitcoin, pre-paid credit cards or gift cards. If you get a call like this, hang up and dont provide any info. Well never: threaten you with immediate arrest send unsolicited pre-recorded messages to your phone keep you on the line until a payment is made request payment of debts via bitcoin, gift cards or other vouchers. Warn your family and friends to stay alert and visit our scams page to learn more: www.ato.gov.au//online-services/i/verify-or-report-a-scam/

02.01.2022 Jobkeeper Extension changes announced today!! Needing some guidance give us a call!!

01.01.2022 Employers: Withholding rates for study and training support loans have changed for 2020-21! Its quick and easy to make sure youre withholding the right amount for your employees - use our updated tax tables or tax withheld calculator at www.ato.gov.au/Rates/Tax-tables