Hieattcorp in Nowra, New South Wales | Business service

Hieattcorp

Locality: Nowra, New South Wales

Phone: +61 2 4422 4910

Address: 50 Junction St 2541 Nowra, NSW, Australia

Website: http://hieattcorp.com

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

16.01.2022 COVID-19 Support: Small and medium employers who have an ABN and have lodged their Sep & Dec 19 activity statements on or before 12 Mar 20, and report PAYG payments (eg employee wages) are eligible for employer cashflow assistance. This will occur when the next three activity statements are lodged (Mar, Jun and Sep 20). The amount of the 'cashflow boost' will be equal to the PAYG Withholding Tax reported on the activity statement, but a minimum of $20k and a maximum of $50...k over next three cycles. There will be a minimum of $10k for the Mar 20 actvity statement and then further minimum payments of $5k for each of the Jun and Sep 20 activity statements. You do not have apply for these payments, you just need to lodge your activity statements on time. We are not sure when the amount will be credited to you, one paragraph says at the end of the cycles (eg 28 Apr for the Mar 20 BAS), and another says when the activity statement is processed by the ATO (ie within two weeks of lodgement). See more

14.01.2022 NSW COVID-19 Small Business Support: The NSW Government has announced a support package for small business. If your business employed people as at 01 Mar 20 and have been serverely impacted by the 'Shut Down', you may be entitled to up to $10k from the state government. The published eligability criteria are as follows: - have between 1-19 employees and a turnover of more than $75,000 - a payroll below the NSW Government 2019-20 payroll tax threshold of $900,000... - have an Australian Business Number as at 1 March 2020, be based in NSW and employ staff as at 1 March 2020 - be highly impacted by the Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020 issued on 30 March 2020 - use the funding for unavoidable business costs such as utilities, overheads, legal costs and financial advice - provide appropriate documentation upon application. https://preview.nsw.gov.au//10000-grants-to-provide-fast-r

14.01.2022 New Working from Home tax deduction arrangements. The ATO have announced a new shortcut way to claim working from home in your 2020 income tax return. Previously you needed to have a space dedicated to working from home and you claimed % of your costs (electricity, insurance and maintenance etc) based on that space and time the space is used. Now don't need an 'office', you can use you kitchen bench, and you can claim 80c per hour worked, and all you need for evidence is a record of hours worked from home (a diary would be sufficient). All clients who have worked from home from Feb to Jun will need to provide that data (time worked from home) when doing your 2020 tax return.

04.01.2022 JobKeeper Assistance: the govt has just announced assistance for employees of businesses affected by COVID-19. The assistance amount is $1500 per fortnight per eligible employee before tax, and must be paid to the employee (the employer cannot keep it for themselves). Both the employer and employee must be eligable and employees can received the assistance from one employer only. The assitance is taxable in the employee's hands, therefore withholding tax applies, and amou...nts paid will be deductible to the employer. Not sure if Super Guarentee applies, but we are presently assuming it won't. Eligible employers must register with the ATO and the ATO will work out which of their employees are entitled (eg they may be recieving the payment from another employer and are not entitled to two or more payments). Check out this page from Treasury, which has links to the ATO registration process. https://treasury.gov.au//Fact_sheet_Info_for_Employers_0.p See more

01.01.2022 NSW Bushfire Relief for Small Business: If your business is in a bushfire affected area (like the Shoalhaven), and you've suffered a 40% drop in business income for any three month period from Aug 19, compared to the same period last year, you may be entitled to $10k cash flow assistance. To work out if your income has dropped by the requisite amount, you'll need to sum your invoices or receipts for Aug-Oct, Sep-Nov, Oct-Dec, Nov-Jan, Dec-Feb and Jan-Mar for both last year and this year, and then divide this year's sum for a period by the sum for the same period last year, and if the result is less than 0.60005, then you've suffered a 40%+ drop and should be eligible for this assistance. You can check it out and apply online here: https://www.service.nsw.gov.au//apply-small-business-bushf