Evolve small business accounting in Coledale, New South Wales | Accountant

Evolve small business accounting

Locality: Coledale, New South Wales

Phone: +61 423 783 747

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• Business service
• Accountant
• Business consultant
• Financial consultant

24.01.2022 When a company has failed or becomes insolvent, it is perfectly legitimate to register a company to take over what is left of that company after liquidation. The directors of the failed company may have done everything they could to keep the company buoyant, but the company could not meet its debts. The insolvent company is then put into the hands of a liquidator, who sells the assets to pay the c reditors and employees. [ 336 more words ] https://evolvesba.com.au//phoenix-alert-government-warns-/

23.01.2022 Speaking at Parliament House, Mr Frydenberg said he would now announce the outcome of its midway review of the $70 billion JobKeeper program as well as a detailed economic and fiscal update on 23 July. The Treasury has since commenced its review of the JobKeeper program, and it is expected to be finalised by the end of June. Despite Prime Minister Scott Morrison [ 293 more words ] https://evolvesba.com.au//jobkeeper-changes-set-for-23-ju/

23.01.2022 Top 10 tax myths Myth: Everyone can automatically claim $150 for clothing and laundry, 5000 kilometres for car related expenses, or $300 for work-related expenses, even if they didn’t spend the money Fact: the record-keeping exemptions provide relief from the need to keep receipts in certain circumstances. However, they are not an automatic entitlement or a standard deduction for everyone. While you don’t need receipts for claims under $300 for work related expenses, $150 for laundry and 5000 kilometres, you still must have spent the money, it must be related to earning your income, and you must be able to explain how you calculated your claim. [ 580 more words ] https://evolvesba.com.au/2018/08/01/top-10-tax-myths/

23.01.2022 A recent interview with Tax Commissioner Chris Jordan revealed details of what the ATO will be paying particular attention to this year. Perhaps not surprising, but the ATO will be targeting businesses that deal in cash. As a part of its cash and hidden economy operation, the ATO has compiled data-maps of cash-only businesses and those that do not frequently or readily use electronic payment fac ilities. [ 408 more words ] https://evolvesba.com.au//01-06-2018-tax-time-focus-areas/

22.01.2022 Small and family businesses can now apply for a digital makeover valued up to $20,000 to help them unlock the potential of technology and strengthen their business. Minister for Small and Family Business, Skills and Vocational Education Michaelia Cash announced earlier this week that applications are open for the Small Business Digital Champions project, which is aimed to help small businesses learn the skills and build confidence to embrace digital opportunities. [ 205 more words ] https://evolvesba.com.au//small-businesses-invited-to-app/

19.01.2022 16 November 2018 Running a small business is hard work and payment delays make it even harder. Payment times in Australia are among the worst in the world, with invoices paid on average 26.4 days late. The Australian Small Business and Family Enterprise Ombudsman has announced an urgent review of payment times, to measure how late or extended payment practices affect the cash flow of small businesses and family enterprises. [ 89 more words ] https://evolvesba.com.au//are-you-affected-by-payment-del/

19.01.2022 How is it possible to make these relocation expenses tax deductible to the employee? Under the Fringe Benefits Tax Act there is an exemption from fringe benefits tax for an employer who either pays or reimburses an employee’s relocation costs. In addition, the employer gets a tax deduction for the relocation costs paid and can claim the GST input tax credits back on the payment as well. [ 164 more words ] https://evolvesba.com.au///21/are-you-relocating-for-work/

19.01.2022 Following the new rules for JobKeeper 2.0 being released by the Treasurer on Tuesday, the ATO is now expected to release its own guidance and rules that will instruct the application of a number of new components in the JobKeeper extension. Actual GST turnover To qualify for JobKeeper 2.0, entities will now be required to demonstrate that their actual GST turnover has declined by the required percentage, rather than projected GST turnover under the first phase of the wage subsidy scheme. [ 489 more words ] https://evolvesba.com.au//ato-guidance-imminent-as-jobkee/

17.01.2022 You may need to lodge a Taxable payments annual report by 28 August each year if you are a: business in the building and construction industry government entity. The Taxable payments annual report tells us about payments you have made to contractors for providing services. Some government entities also need to report the grants they have paid and payments they make to certain other entities. [ 80 more words ] https://evolvesba.com.au///taxable-payments-annual-report/

15.01.2022 If your business is affected by the coronavirus, you may be eligible to access the JobKeeper payment to assist you to be able to continue paying your employees. Employers can choose to participate in the scheme and then nominate the employees they are entitled to claim for. An employer can choose not to participate in the JobKeeper payment. Find out about: Eligible employers Your eligible employees Amount of JobKeeper payment Enrol and apply for the JobKeeper payment Paying your eligible employees https://evolvesba.com.au///jobkeeper-update-for-employers/

13.01.2022 Coronavirus stimulus package https://evolvesba.com.au/2020/03/20/1500/

10.01.2022 As tax time 2018 kicks off this weekend, the ATO has profiled what it says are the 5 most common mistakes and the personalities most likely to have to tax time troubles. The top 5 mistakes include taxpayers who: Leave out some of their income - maybe forgetting a temp job or money earned from the sharing economy; Claim deductions for personal expenses - home to work travel, normal clothes or personal phone calls; [ 63 more words ] https://evolvesba.com.au//ato-flags-5-most-common-tax-tim/

09.01.2022 I recommend any small business owner to watch the 4 corners report on the ATO which aired last night. Watch it on ABC iview.

07.01.2022 The Tax Office has now published Practical Compliance Guideline 2020/4, setting out how the ATO will apply its compliance resources to schemes that have been entered into to enable an entity to gain access to the JobKeeper payment or an increased amount of the payment. The bill giving effect to the JobKeeper scheme specifically allows the Commissioner of Taxation to determine that an entity was never entitled to a payment and to recover the amount if he is satisfied that the entity had carried out a contrived scheme for the sole and dominant purpose of obtaining the payment. [ 163 more words ] https://evolvesba.com.au//tax-office-reveals-jobkeeper-co/

06.01.2022 https://evolvesba.com.au/2018/08/20/204/

06.01.2022 Small and medium businesses will now be granted rental waivers and deferrals under a mandatory Code of Conduct unveiled by Prime Minister Scott Morrison. Under the Code of Conduct, landlords will be required to reduce rent proportionate to the trading reduction in the tenant’s business caused by the coronavirus pandemic through a combination of waivers of rent and deferrals of rents. [ 264 more words ] https://evolvesba.com.au//smes-to-receive-rent-waivers-de/

05.01.2022 Under the new arrangement, taxpayers will be allowed to claim a rate of 80 cents per hour for all their running expenses, rather than needing to calculate costs for specific running expenses. The requirement to have a dedicated work-from-home area will also be removed, with multiple people in each household allowed to claim the new rate. The new method will cover the period starting 1 March 2020 until 30 June 2020, with the ATO open to extending the method depending on when work patterns start to return to normal. [ 478 more words ] https://evolvesba.com.au//ato-rolls-out-working-from-home/

01.01.2022 As Tax Time 2018 begins, the Australian Taxation Office (ATO) is warning taxpayers to be on high alert for tax-related scams. Assistant Commissioner Kath Anderson said most Australian taxpayers expect some form of interaction with the ATO during tax time, and scammers take advantage of it to gain money and personal information from victims. Scammers are busy all year round, but we always see an increase in activity at tax time. [ 1,097 more word ] https://evolvesba.com.au/2018/07/18/watch-out-scams-about/