Gabriel Co Accountants in Essendon, Victoria, Australia | Tax preparation service

Gabriel Co Accountants

Locality: Essendon, Victoria, Australia

Phone: +61 3 9372 8600

Address: Suite 1, Level 1, 77 Raleigh Street 3040 Essendon, VIC, Australia

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

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24.01.2022 #UPDATE: For people who have been impacted by the coronavirus, there is help available. Go to: https://www.servicesaustralia.gov.au//affected-coronavirus

24.01.2022 A great summary from our friends at Lime Financial Planning on accessing government assistance during Coronavirus

24.01.2022 ATO - Employers: We’ve started processing payments for JobKeeper, so if you’ve enrolled, you’ll need to take the next step and identify and maintain your eligible employees to ensure you get reimbursed. Check out our video with tips on how to complete this step Sole trader? You’ll also need to take this step to ensure you get the payment. For more info, visit www.ato.gov.au/general/JobKeeper-Payment/

22.01.2022 Rental property cash flow calculator - what’s your negatively geared rental property really costing you?

20.01.2022 Retirement ready - a retirement webinar, with no money!

19.01.2022 $5000 - Local lockdowns business support program. Business affected by today’s suburb lockdowns? Register your interest for a further $5000 payment via the Victoria Government for business operating within the postcodes announced.... https://www.business.vic.gov.au//local-lockdowns-business-

19.01.2022 $1500 Jobkeeper Payments - Business/Sole Traders The government has announced its intention to provide eligible businesses with JobKeeper Payments. This is not yet law. Currently the ATO has suggested to register your interest: ... https://www.ato.gov.au/general/gen/JobKeeper-payment/ See more

17.01.2022 Employers applying for Jobkeeper need to have eligible employees complete and return the Employee Nomination Notice before the end of April! https://www.ato.gov.au//d1aab7f2-fbe8-44b8-9ec1-4885ded108

16.01.2022 The impact of COVID-19 has been felt far and wide, with small and medium-sized businesses hit especially hard by economic and social restrictions. It’s more im...portant than ever to seek advice from a professional accountant who can help you with the information and advice you need. You can also access a range of COVID-19 small business resources to support you through this pandemic here: https://bit.ly/3cqZQLA #COVID19 #SmallBusiness

15.01.2022 Small business cash flow assistance - supporting apprentices and Trainees. Quick facts: Wage subsidy of 50% of the applicable for wages paid during 1 January - 30 September 2020... Maximum of $21,000 per apprentice/trainee - paid quarterly - $7,000 Eligible for businesses employing fewer than 20 full-time employees Apprentice/trainees must have been in training with employer as at 1 March 2020 Assessment must be undertaken by an Australian Apprenticeship Support Network (AASN) provider - please contact provider for more info on how to apply from early April

14.01.2022 Banks hotlines for employers to call in relation to accessing bridging finance (re Jobkeeper): Westpac - 1300 731 073 NAB - 1800 562 533 (1800 JOBKEEPER) CBA - 13 26 07... ANZ - 1800 571 123 See more

13.01.2022 Important JobKeeper date - From 28 September 2020, JobKeeper Payments must be paid to each eligible employee at the new payment rates, determined by the total hours worked during their reference period. https://www.ato.gov.au/Gen/JobKeeper-Payment/Payment-rates/

13.01.2022 Negotiate Rent Relief for your Business. Free Webinar hosted by Business Moreland & the Victorian Small Business Commission. Thurs, 17th September 2020... 1:30 - 2:30 pm https://www.eventbrite.com.au/e/negotiating-rent-relief-for

12.01.2022 New Jobkeeper Info - businesses can apply from April 20th via ATO website or tax professional. https://www.ato.gov.au//enrol-and-apply-for-the-jobkeepe/

10.01.2022 $3000 sole trader grant - who's eligible? Sole traders must meet the following conditions to be eligible for the Victorian Government's grant: - be registered for GST... - currently on JobKeeper - operate their business from a commercial premises https://www.business.vic.gov.au//b/business-support-fund-3

07.01.2022 JUST IN: Extended access to $10,000 super withdrawal - 31st December 2020 cut off. To be eligible one or more of the following requirements must be satisfied: a. The individual is unemployed.... b. The individual is eligible to receive the Jobseeker Payment, Youth Allowance for jobseekers, Parenting Payment (which includes the single and partnered payments), Special Benefit or Farm Household Allowance. c. On or after 1 January 2020: the individual was made redundant; or the individual’s working hours were reduced by at least 20%; or if the individual is a sole trader their business was suspended or there was a reduction in the business’s turnover of at least 20%. This withdrawal is tax free in the hands of the recipient. You should always consider your own specific financial circumstances in determining whether to access your super early. We always recommend seeking professional financial advice. https://www.ato.gov.au//withdr/early-access-to-your-super/

06.01.2022 JobKeeper entitlement for Victorian businesses forced shut - under the originally announced JobKeeper scheme you can still enroll for payment for the months of August & September if your business is likely to experience a 30% downturn in turnover (based on the previous comparable period). The total JobKeeper payment for the month of August is $4,500 per employee/eligible business participant (as 3 JobKeeper fortnights fall within this period) and $3,000 in September. Accountant Tip: ensure you are ENROLLED in the JobKeeper program via the ATO PRIOR to the end of the qualifying month to be entitled to claim for that particular month. Enroll WITHIN the month you wish to claim for!

06.01.2022 New Shortcut Method to working from home deduction explained! Claim 80c per hour for working from home as a result of the CoronaVirus for the period 1 March to 30 June without onerous record keeping requirements usually required! For the average full time employee working from home this may result in a tax deduction of $516.80. It should be highlighted that claiming under this simplified method means you CANNOT make a separate claim for the following items during this period:... - Electricity - Cleaning - Phone/Internet - Computer consumables & stationery - Depreciation of Home office furniture (eg office desk & chair) - Depreciation of Home office equipment (eg computer & printer) In light of this we would recommend that taxpayers maintain the following records to ensure calculation between all available methods to ensure claiming the maximum available tax deduction: - a record of all time spent working from home (eg diary entries, timesheets etc) - maintain copies of all receipts for all home office items purchases including stationery, furniture, ink, IT replacements, phone accessories etc - maintain time/usage diary for home office space, telephone, internet, furniture, equipment etc (4 week minimum). https://www.ato.gov.au//Suppo/Employees-working-from-home/

04.01.2022 Help for small business employers - Economic response to Coronavirus Maximum $100,000 provided to employers with a minimum payment of $20,000. Simplified facts for small business who are employers:... Amounts to be received are equal to 100% of PAYG withholding on wages for the period 1st January 2020 - 30 September 2020. Available for active eligible employers established PRIOR to 12 March 2020 'Payments' are delivered as an automatic credit in the activity statement system - meaning no cash payments into business bank accounts. If you owe the ATO, the amount will offset amounts owing before being able to be requested as a refund to your business bank account. Payments are only made upon the lodgement of wage information on your quarterly or monthly activity statements (BAS/IAS). If you do not lodge your activity statements, you will not be in receipt of any payments. Quarterly lodgers will receive payments on lodgement due dates for March, June & September activity statements (28 April, 28 July, 28 October) Monthly lodgers will receive payments on lodgement due dates for March, April, May, June, July, August & September activity statements (21 April, 21 May, 22 June, 21 July, 21 August, 21 September, 21 October) The minimum payments employers are set to receive is $20,000, paid as follows (assuming quarterly lodgement of activity statements), $10,000 paid on lodgement of March activity statement, paid 28 April, $5,000 paid on lodgement of June quarter paid 28 July, $5,000 paid on lodgement of September quarter, paid 28 October. We will be contacting all our small business clients to offer our support in these difficult times and address further measures announced shortly.

01.01.2022 News Just In: $150k instant asset write off (available to businesses) has been extended until 31 December 2020. Works by allowing businesses to immediately write off/claim as a deduction the cost of an asset in the year its bought and installed/delivered ready for use. Exception to the rule is motor vehicles: max immediate write off amount = $57,581.... For more on how the instant asset write off works check out the ATO website: https://www.ato.gov.au//Simpler-/Instant-asset-write-off/.

01.01.2022 Has your business been forced to close? The Victorian Government is offering eligible businesses a $10,000 grant to help small businesses survive the impacts of the coronavirus (COVID-19) pandemic and keep people in work. Businesses are eligible to apply for a grant through the Fund if they meet the following criteria:... Have been subject to closure or is highly impacted by shutdown restrictions announced by the Victorian Government to-date; and Employ people; and Have a turnover of more than $75,000; and Have payroll of less than $650,000; and Hold an Australian Business Number (ABN) and held that ABN at 16 March 2020; and Have been engaged in carrying out the operation of the business in the Australian State of Victoria on 16 March 2020. How to apply: Application can be made online via the Business Victoria website. You will need a copy of your most recently lodged BAS. https://www.business.vic.gov.au//gra/business-support-fund