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25.01.2022 New tax and superannuation measures are now available to help support those affected by COVID-19. These include: early access to super reducing super minim...um drawdown rates boosting cash flow for employers increasing the instant asset write-off backing business investment You can find information on these measures, as well as ways we can support you, at www.ato.gov.au//De/In-detail/Specific-disasters/COVID-19/

23.01.2022 For any expat Australians

22.01.2022 Emergency services workers! We know youre busy keeping the country safe, so weve developed a guide to help you out with your tax return. Whether youre a ...fire fighter, police officer or paramedic, weve covered everything from laundry expenses to your heavy-vehicle permit, over-time meals and education expenses. Get all the answers for your industry at www.ato.gov.au//I/Occupation-and-industry-specific-guides/ See more

21.01.2022 Australian filing deadline is fast approaching for individuals who benefit from the filing extension. Should you require any assistance with your Australian Tax Returns please call our office local to you or send an online enquiry via our website. www.gmtax.com.au

20.01.2022 BREAKING NEWS - The Australian Senate has passed the bill that will remove the Main Residence Exemption for Australian expats. Full update to be provided later in the day

19.01.2022 You need to ensure your filing obligations are up to date before making any claims with Centrelink. If you are unsure and need to discuss call an office closest to you or send an online enquiry via our website www.gmtax.com.au

19.01.2022 The construction industry plays an important role in Western Australia and employs thousands of people across a range of trades. We want to make sure we do eve...rything we can to ensure jobs are maintained and our construction workforce is ready to assist with the post COVID-19 economic recovery. So today, we've announced a $24.5 million support package to assist the building and construction industry to maintain a skilled workforce during the COVID-19 crisis. The package includes $10 million to provide an immediate, one-off payment of $2,000 to employers of existing apprentices and trainees currently receiving Construction Training Fund (CTF) grant payments. A new grants scheme worth $9.5 million will be introduced to assist employers to retain their existing apprentices, with payments beginning from 1 June this year, backdated from 1 April 2020. The payments will range from $250 per month to $500 per month, per apprentice or trainee, depending on the trades facing the most critical skills shortages in the industry. Additionally, apprentices and trainees employed in the industry can claim up to $1,000 to support the costs of undertaking short courses to assist them in upskilling. This package will help to ensure that workers undertaking an apprenticeship and traineeship are able to continue through this difficult period.

16.01.2022 The Australian filing deadline is fast approaching which am sure is the last thing you may be thinking about due to current crisis we are all facing. We and the ATO urge you not to delay submission of your tax returns due to your inability to pay any tax liabilities that may arise as a result as assistance is available from the ATO to defer payments and to vary installments that you may have due. We at GM Tax are dedicated to assist you manage your filing and tax obligation...s through this difficult time. Stay safe & well and together we shall work through this.

14.01.2022 Financial Services

14.01.2022 We at GM Tax have a work from home policy. We have plans in place for our employees can work from home as the need arises. Our offices remain open and we shall ensure that there will be no disruption to our service offering to you. We are committed to providing a high level of service and continue to support you by phone and email through these challenging times.... Wishing you all health and continued prosperity.

13.01.2022 With so many Australians working from home to reduce the risk of coronavirus, were making it easier to claim your expenses this tax time. From 1 March until 30... June 2020, were allowing you to claim 80c per hour for each hour you spend working from home. This will cover all your expenses, including your: Heating and cooling Electricity Mobile phone Internet Depreciation of office equipment You can still use other methods to calculate your claim if you prefer; however, whichever method you choose, youll need to make sure you have records to support your claim. Find out more about the change at www.ato.gov.au//Support-for-i/Employees-working-from-home/

13.01.2022 The government is providing critical financial support for small businesses and their employees through the JobKeeper stimulus package. Have a read of commonly ...asked questions and the answers you need to stay on top of all things JobKeeper and Single Touch Payroll (STP): https://bit.ly/3cDJy22 See more

13.01.2022 The Bill removing the CGT Main Residence Exemption for Australian expats has now received royal assent and is officially part of the countries legislation

12.01.2022 #BREAKING The Australian Banking Association says all small businesses hit by the coronavirus pandemic will be able to access a six month deferral of all loan repayments More: https://ab.co/2wbBiHf

12.01.2022 Refunds may be available to affected working holiday visa holders. The backpacker tax was ruled to be unlawful. https://www.abc.net.au//federal-court-rules-back/11653928

11.01.2022 Employers: The JobKeeper Payment is changing, so more employees can qualify. There are changes to: 1. the eligibility criteria 2. a payment extension to 31 Aug...ust, and 3. employers can nominate different employees if their employment has changed. For more details on the changes, see https://www.ato.gov.au//JobKeeper-Payment/Employers/Your-/

10.01.2022 The 2020 financial year has ended and it is time to start gathering the information together for your tax returns. If you would like GM Tax to assist you this year please send us an online enquiry via our website www.gmtax.com.au.

09.01.2022 With the end of financial year approaching and the business tax write offs still available, buying a new car could be on your radar. For all your car loan needs, get in touch with me now on 0438775570.

08.01.2022 It is nearly that time of year again. We at GM Tax would be happy to assist you with your filing obligations. Please call an office local to you or send an online enquiry via our website www.gmtax.com.au

07.01.2022 5 tips to survive a decline in income Since precautionary measures were heightened to slow the spread of COVID-19, almost 1 million Australians have lost their ...jobs. According to the Australian Bureau of Statistics, Australia lost 7.5% of its jobs between 14 March and 18 April. If you're one of the many Australians who has lost their job, it's understandable that you may be feeling stressed about managing your finances... To read more kindly go to our website: www.savannapride.com.au and go to NEWS See more

07.01.2022 HMRC have now set up a Coronavirus Helpline for the Self Employed : 0800 0159 559HMRC have now set up a Coronavirus Helpline for the Self Employed : 0800 0159 559

07.01.2022 With the end of financial year approaching and the business tax write off's still available, buying a new car could be on your radar. For all your car loan needs, get in touch with me now on 0438775570.

07.01.2022 The Federal Government has announced (as part of its Coronavirus Stimulus Package) the introduction of a new JobKeeper Payment to assist eligible employers (and self-employed individuals) who have been impacted by the Coronavirus pandemic to continue to pay their workers. An overview of the package is as follows; Eligible Employers will be paid a subsidy of $1,500 per fortnight for each employee as part of a job keeper payment . ... Eligible Employers will need to register via the ATO website to receive the payments starting in the first week of May and will cover the next six months and backdated to March. Where an employer receives the JobKeeper Payment for an eligible employee who has been receiving income support through Centrelink (or Services Australia) as a result of having been stood down or their hours being reduced, the employee will need to report the JobKeeper Payment as income, as this could affect their entitlement to such Centrelink support. If your workers have already been stood down they will be eligible for the allowance if they were on your books on March 1. The payment will apply to part-time and full-time workers, sole traders and casuals providing they have been with you for 12 months or more. Participating employers will be required to ensure eligible employees will receive, at a minimum, $1,500 per fortnight, before tax. Eligible employers that apply for the JobKeeper Payment (i.e., via an online application) will need to provide supporting information demonstrating a downturn in their business, and must report the number of eligible employees employed by the business on a monthly basis. Businesses without employees (e.g., self-employed individuals) will need to provide an ABN for the business, nominate an individual to receive the JobKeeper payment and provide that individuals Tax File Number, as well as provide a declaration on the recent business activity (presumably, to demonstrate the downturn in the business). Initially, businesses can start to register their interest in applying for the JobKeeper payment from 30 March 2020, on the ATOs website at www.ato.gov.au.

07.01.2022 2018 UK Tax Returns Late Filing Penalties - 10.00 per day penalties to be avoided Should you have missed the 31 January 2019 filing deadline you will have automatically received a late filing penalty of 100.00. If your return is still outstanding as at 30th April 2019 a further penalty of 300.00 will be incurred and 10.00 daily penalties will commence from 1st May for up to 90 days or until submitted.... Act now to avoid incurring additional late filing penalties, we at GM Tax can assist you with your electronic submission of your UK Tax Return. You can call an office local to you or send us an online enquiry via our website www.gmtax.com.au

06.01.2022 UK Filing Deadline is fast approaching 31 January 2020. Please call an office local to you or send an online enquiry via our website for assistance with the preparation and electronic lodgement of your UK Tax Return. www.gmtax.com.au.

06.01.2022 Let Property Campaign & Disclosure to HMRC The UKs Let Property Campaign, is a campaign run by HMRC for individuals who have undisclosed income in relation to rents received. The Let Property Campaign gives you an opportunity to bring your tax affairs up to date if youre an individual landlord letting out residential property in the UK while your are overseas.... If you owe tax or not on your letting income youll need to tell HM Revenue and Customs (HMRC) about the income you havent declared by making a voluntary disclosure or by registering for the Campaign. Who can take part? You can report previously undisclosed taxes on rental income to HMRC under the Let Property Campaign if youre an individual landlord renting out residential property; renting out a single property renting out multiple properties a specialist landlord, eg student or workforce rentals renting out a room in your main home for more than the Rent a Room Scheme threshold living abroad and renting out a property in the UK living in the UK and renting a property abroad renting out a holiday home even if you use it yourself You are not able to use this scheme to declare undisclosed income if youre a company or a trust renting out residential property or if youre renting out commercial property. You may have become a landlord for many different reasons; you might not even think of yourself as one. This could be because youve: inherited a property just rented out a flat to cover your mortgage payments moved in with someone and need to rent out your house You may have simply misunderstood the rules or been told differently. Whether your errors were due to misunderstanding the rules, or you deliberately avoided paying the right amount, you should notify HMRC now rather than wait until they uncover the errors. Should you wish to discuss further and take part in the Campaign or make a voluntary disclosure please call a GM Tax office local to you or submit an enquiry via our online enquiry form on our websites www.gmtax.com.au or www.gmexpattax.com

05.01.2022 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 can't 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 This COVID-19 pandemic is unlike any other economic challenge we have faced in living memory. We cant just fire everything back up right away, we need to make ...sure workers and businesses can ride this pandemic out. That is the principle behind our latest $1-billion-dollar economic and health relief package to help Western Australians and WA businesses get through this. Today I am announcing $502 million for small and medium-sized businesses including a reduction in electricity bills, licences fees waived, and immediate payroll tax relief. Electricity bills for around 95,000 small businesses will be reduced, with a one-off $2,500 credit available for Synergy and Horizon Power customers that consume less than 50 megawatt hours (MWh) per annum. Payroll tax will be waived for a four-month period between 1 March 2020 to 30 June 2020 for small-to-medium sized businesses with Australia-wide annual wages of less than $7.5 million in 2019-20, instead of just being deferred. $100 million worth of licencing fees for a range of small and medium sized businesses in COVID-19 impacted industries will been waived for the next 12 months. Liquor licence renewal fees for 2020 will be waived and refunds provided for businesses that have already paid, benefitting around 5,500 businesses with a liquor licence. And just like WA families and households, businesses directly or indirectly impacted by COVID-19 may also apply for an interest-free payment arrangement and for late payment penalties to be waived for transfer duty, landholder duty, vehicle licence duty or land tax. No small business will have their water or power disconnected from financial hardship due to COVID-19. And no interest will be charged on deferred bill payments for those small businesses experiencing COVID-19-related financial hardship up until 30 September 2020. We want WA to come out the other side in the best position possible. This is all about ensuring our local businesses can survive these difficult times.

04.01.2022 Should you need any assistance in making the claim please speak to your accountant and GM Tax for assistance.