Finkelstein Hickmott Pty Ltd in Perth, Western Australia | Financial service

Finkelstein Hickmott Pty Ltd

Locality: Perth, Western Australia

Phone: +61 8 9321 3369

Address: Level 2 140 Colin Street West Perth 6005 Perth, WA, Australia

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

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• Tax preparation service
• Accountant
• Financial service
• Business consultant

25.01.2022 Attention Employers The JobMaker Hiring Credit is here! For every new position you create until 6 Oct 2021, you could receive up to $200 per week. Check you meet the eligibility criteria and register now at www.ato.gov.au/General/JobMaker-Hiring-Credit/

23.01.2022 The Department of Education, Skills and Employment (DESE) has commenced a new ongoing data-matching program with the ATO in relation to the Supporting Apprentices and Trainees (SAT) measure! The program seeks to confirm the eligibility of employers receiving the subsidy, as well as stamp out any potential double-dipping of government assistance (for example, claiming both SAT and JobKeeper support at the same time for the same employee). Under SAT, employers can apply for... a wage subsidy of 50% of the apprentice’s or trainee’s wage paid until 31 March 2021. To be eligible, an apprentice must have been in an Australian apprenticeship with a small business as of 1 March 2020. SAT has since been expanded to include medium-sized businesses that had an apprentice in place on 1 July 2020. Employers of any size who re-engage an eligible out-of-trade apprentice are also eligible to claim the SAT wage subsidy. However, there are restrictions on when an employer can claim SAT for an eligible apprentice. For more information, please visit http://bit.ly/FinkHickClientAlertNov2020

23.01.2022 With a range of government COVID-19 economic supports such as the JobKeeper and JobSeeker schemes winding down in the next few months, businesses that are seeking to employ additional workers but still need a bit of help can now apply for the JobMaker Hiring Credit Scheme Unlike the JobKeeper Payment, where the money has to be passed onto your employees, the JobMaker Hiring Credit is a payment that your business gets to keep. Depending on new employees’ ages, eligible bus...inesses may be able to receive payments of up to $200 a week per new employee For more information, please visit http://bit.ly/FinkHickClientAlertFeb2021

23.01.2022 If you’re not sure or just need some help with lodging the report, our team at Finkelstein Hickmott Pty Ltd - Certified Practising Accountants have the expertise to help you! The following are, at the time of writing, among the measures that will cease at the end of March 2021: JobKeeper (ends 28 March);... Coronavirus Supplement (ends 31 March) the temporary COVID-19 qualification rules for JobSeeker payment and youth allowance (ends 31 March) HomeBuilder (ends 31 March) some apprenticeship wage subsidies (ends 31 March) For more information, please visit https://bit.ly/FinkHickClientAlertApril2021 or call 9321 3369 to speak to a member of our team

23.01.2022 If your business has provided any benefits to your employees, you may be liable for fringe benefits tax (FBT) This includes benefits to current, prospective and former employees, as well as their associates. It’s important to keep in mind that this applies no matter what structure your business has sole trader, partnership, trustee, corporation, unincorporated association, etc. If a benefit was provided in respect of employment, then it may be a taxable fringe benefit. For more information about this, please visit https://bit.ly/FinkHickClientAlertApril2021

23.01.2022 Are you a factory worker? If so, you will find this tailored guide by the Australian Taxation Office very helpful when it comes to claiming your tax-deductible expenses! To learn more, please refer to the ATO's post below

22.01.2022 The February 2021 edition of our Client Alert is here! Discover everything you need to know about: Tax avoidance schemes... COVID-19 Supplement extension to 31 March 2021 Working from home deductions: shortcut rate until 30 June 2021 JobMaker Hiring Credit rules and reporting Small businesses: don’t forget your FBT concessions New insolvency rules commence Read it now on our website at http://bit.ly/FinkHickClientAlertFeb2021 Don't receive it in your inbox? Sign up at https://bit.ly/FinkelsteinHickmottNewsletterSignUp

18.01.2022 What a great day we all had yesterday celebrating Melbourne Cup at Crown Perth! Giddy up

16.01.2022 Tax planning or tax avoidance - do you know the difference? Tax planning is a legitimate and legal way of arranging your financial affairs to keep your tax to a minimum, provided you make the arrangements within the intent of the law. Any tax minimisation schemes that are outside the spirit of the law are referred to as tax avoidance and could attract the Australian Taxation Office’s attention!... The ATO has outlined some common features of tax avoidance schemes, and we can help you to steer clear of them. While it’s not always easy to identify these schemes, the old adage of if it seems too good to be true, it probably is is a good rule of thumb. For more information about this, please visit http://bit.ly/FinkHickClientAlertFeb2021

16.01.2022 What a great idea! Recognising stories first hand from potential scam victims Please learn how to protect yourself and stay safe from scammers Click on the Australian Taxation Office's Facebook post below for more information about how you can protect your personal information and stay safe from scams

15.01.2022 MEET THE TEAM - Rob Fowler After Rob completed his Bachelor of Commerce at Murdoch University, he commenced his professional career in 1994. He joined Finkelstein Hickmott as a Team Manager in May 1999. During the same time, he also became a member of the Chartered Accountants Australia and New Zealand.... In 2005, Rob became a director of Finkelstein Hickmott. Rob specialises in: Taxation Business advice to a variety of SMEs Superannuation Business appraisal Due diligence To get in touch with Rob, please email [email protected] or call our office on 9321 3369

14.01.2022 The November 2020 edition of our Client Alert is here! Discover everything you need to know about: Budget personal tax cuts and business concessions now law... Working from home shortcut deduction extended JobKeeper decline in turnover tests: temporary trading cessation Data-matching program: apprentices and trainees Small business tax options during COVID-19: ATO reminder Insolvency reforms announced for small businesses JobKeeper payments satisfy work test for super contributions SMSF asset valuations: concession during COVID-19 Digital AGMs and signatures: legislative determination Read it now on our website at http://bit.ly/FinkHickClientAlertNov2020 Don't receive it in your inbox? Sign up at https://bit.ly/FinkelsteinHickmottNewsletterSignUp

12.01.2022 An additional category for alternative decline in turnover tests are now available for the purposes of the revised JobKeeper payment system (which commenced on 28 September 2020) for entities that temporarily ceased trading for some or all of the relevant comparative period. Under the revised system, an entity must have had an actual decline in its turnover for the applicable quarter relative to the same quarter in 2019 This generally involves making a one-to-one comparis...on of the 2020 numbers to those in the corresponding period in 2019, to see if it exceeds the 15%, 30% or 50% decline threshold (depending on the type of entity) For more information, please visit http://bit.ly/FinkHickClientAlertNov2020

11.01.2022 The April 2021 edition of our Client Alert is here! Discover everything you need to know about: Why it’s time to consider FBT ATO reminder: lodge your TPAR... COVID-19 stimulus and support measures winding back Life insurance in super: costs on the way up? Read it now on our website at http://bit.ly/FinkHickClientAlertApril2021 Don't receive it in your inbox? Sign up at https://bit.ly/FinkelsteinHickmottNewsletterSignUp

09.01.2022 The Australian Taxation Office is reminding owners of businesses that provide various services to lodge their taxable payments annual report (TPAR) for the 20192020 income year It estimates that around 280,000 businesses were required to lodge a TPAR for the 20192020 financial year, but at the beginning of March around 60,000 businesses still had not complied with the lodgment requirements. The reports were originally due on 28 August 2020. To avoid possible penalties, ...these businesses are encouraged to lodge as soon as possible. For more information, please visit https://bit.ly/FinkHickClientAlertApril2021

08.01.2022 The Australian Taxation Office has updated its COVID-19 and fringe benefits tax (FBT) advice, providing a useful outline of some issues that may arise due to an employer’s response to COVID-19 Working from home devices Garaging work cars at employees’ homes, and logbooks Emergency accommodation, food and transport... Items that help protect employees from COVID-19 Emergency health care Flu vaccinations for employees working from home COVID-19 testing Cancelled events For more information about these issues, please visit http://bit.ly/FinkHickClientAlertOct2020

07.01.2022 Dear Clients, Please be aware that as of Monday, February 15th, Finkelstein Hickmott will return to normal office operations. We ask that all visitors to the office follow the government directives as follows:... Exercise physical distancing Adopt appropriate healthy hygiene habits We look forward to welcoming you back to the Finkelstein Hickmott Pty Ltd - Certified Practising Accountants offices! If you have any concerns or questions about your interactions with us during this period, please do not hesitate to contact our Office Administrator, Judi Cramp on 9321 3369

07.01.2022 Two additional Economic Support Payments of $250 each will soon be available to people who get any one of the following: Age Pension; Carer Allowance; Carer Payment;... Commonwealth Seniors Health Card; Disability Support Pension; Double Orphan Pension; Family Tax Benefit Part; or Pensioner Concession Card. To be eligible for the additional payments, you must receive an eligible payment (or have an eligible card) on: 27 November 2020 to get a $250 payment in December 2020; and 26 February 2021 to get a $250 payment in March 2021. For more information, please visit https://bit.ly/FinkHickClientAlertDec2020

07.01.2022 Travel for work? You may be able to claim some of these costs in your tax return! For more information, click on the Australian Taxation Office post below

05.01.2022 As a company and team, we have been proud to support many different charities over the years. When we heard about The Kai Eardley Foundation and its mission to reduce the horrific and escalating number of WA's young men who resort to suicide, we knew we wanted to get behind it. David, Rob and Peter were delighted to recently attend the foundation's corporate fundraising event as it announced its name change to Kai-Fella and raised almost $30,000.... Finkelstein Hickmott was proud to donate $2,500 worth of business and tax advisory services as part of the silent auction. We encourage everyone to visit www.kaifella.com.au and learn more about the vital and life-changing work that Kai-Fella does and make a donation.

03.01.2022 Holiday Office Closure During the Christmas/New Year holiday period, our office will be closed from 10am Wednesday 23rd December 2020 and reopen at 8.30am on Monday 4th January 2021. We would like to take this opportunity to wish everyone a safe and happy holiday!

03.01.2022 The Australian Taxation Office has recently outlined its expectations for businesses post-COVID Overall, it warns companies against using loopholes to obtain benefits from the various government stimulus packages and urged them to follow not only the letter of the law, but also the spirit of the law. Specifically, it reminds taxpayers that measures such as the expanded instant asset write-off and the loss carry-back scheme should not be used in artificial arrangements fo...r businesses to obtain an advantage. In a recent speech, ATO Second Commissioner of Client Engagement Jeremy Hirschhorn outlined the expectations for businesses, noting that while companies are largely compliant with 92.5% voluntary compliance at lodgment and 96.3% after compliance activity the ATO is seeking to increase the percentages to 96% and 98% respectively. For more information, please visit https://bit.ly/FinkHickClientAlertDec2020

02.01.2022 ATO advises of PAYG instalment and company tax rate error On 10 Nov 2020, the ATO advised that the recent reduction in the company tax rate had not been applied correctly in its systems from 1 Jul 2020. The error, which resulted in pay-as-you-go (PAYG) instalments being calculated using the former rate of 27.5% and not the correct 26%, affected companies that are base rate entities with an aggregated turnover of less than $50 million.... The ATO has now corrected the error and will issue a new PAYG instalment letter to affected companies reflecting their correct instalment rate or amount. The ATO says that all future activity statements will have the correct rate applied. For more information, please visit https://bit.ly/FinkHickClientAlertDec2020

02.01.2022 Important changes to Australia’s insolvency laws commenced operation on 1 January 2021 The Federal Government has called these the most important changes to Australia’s insolvency framework in 30 years. The measures apply to incorporated businesses with liabilities of less than $1 million. The intention is that the rules change from a rigid one size fits all model to a more flexible debtor in possession model, which will allow eligible small businesses to restructure th...eir existing debts while remaining in control of their business. For those businesses that are unable to survive, a new simplified liquidation pathway will apply for small businesses to allow faster and lower-cost liquidation. For more information about this, please visit http://bit.ly/FinkHickClientAlertFeb2021

01.01.2022 Budget personal tax cuts and business concessions now law These include bringing forward changes to the personal income tax thresholds so that they apply from 1 July 2020. From that date, the top threshold of the 19% personal income tax bracket is increased from $37,000 to $45,000. The top threshold of the 32.5% tax bracket is increased from $90,000 to $120,000... The low-income tax offset increases to $700 The low and middle-income tax offset (up to $1,080) is retained for 20202021 A range of tax concessions already available to small businesses has been extended to medium-sized businesses as well, and businesses with turnover less than $5 billion can deduct the full cost of eligible depreciating assets that are installed ready for use between 6 October 2020 and 30 June 2022. For more information, please visit http://bit.ly/FinkHickClientAlertNov2020