Hughes O'Dea Corredig | Businesses

Hughes O'Dea Corredig

Phone: (03) 9375 4286

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24.01.2022 With so many people now working from home, the ATO is introducing a new and simple method for claiming work from home expenses. From 1 March - 30 June 2020, the ATO will allow you to claim 80c per hour for each hour you spend working from home. This will cover all your expenses, including heating / cooling, mobile phones, electricity, internet and depreciation of office equipment. Remember, always keep records and talk to us if youd like to know more.

22.01.2022 The Federal Government has unveiled an unprecedented $130 billion program to subsidise wages for employees during the COVID-19 crisis. The JobKeeper program is a wage subsidy reimbursement program. It is designed for employers to keep employees on their books during a prolonged period of declining revenue. Talk to us to find out more.

21.01.2022 Wondering which small business expenses you can claim as deductions? Check the ATOs toolkit.

20.01.2022 And the winner of the 2020 Australian Accounting Awards for BEST SMSF FIRM OF THE YEAR IS ..............US!!! Yay!! What an amazing acknowledgement and we cant thank enough our peers, colleagues and especially our wonderful clients. Time to celebrate

20.01.2022 As the Australian economy heads into phase two of the restriction-easing process, Prime Minister Scott Morrison unveiled his plans and vision for an economic comeback. The recovery scheme, which has been dubbed JobMaker, is set to place an emphasis on a number of key economic challenges, many of which are likely to have widespread implications for small-to-medium businesses around the country.

19.01.2022 How is everyone doing? These are very strange and difficult times for many so its important to remember to check in on family and friends to keep connections and maintain relationships. Here at HOC we continue to make ourselves available to those that may need our help as well as assist people and businesses on what support is available and how to access it. Heres a little of summary on some of the support thats on offer and remember were just a phone call or email away to help. Stay safe everyone!

19.01.2022 Australias major industry sectors continue to be shaped by global economic trends, causing tough times for some businesses. Thankfully, there are ways for small business owners to succeed in a period of disruption.

18.01.2022 How are we all feeling? With the vast majority of kids now back at school there seems to be a slight change in the air with people slowly coming out of isolation to engage with others. Catch up on the latest news and info below as well as read about how were running a client webinar - if youre keen to participate make sure you register as spots are limited. Remember to stay safe out there and check in with friends and family regularly.

17.01.2022 First it was JobKeeper, then came JobSeeker, and now, it’s JobTrainer. The Government’s latest stimulus package, JobTrainer, aims to facilitate the upskilling of thousands of out-of-work Australians, while also extending incentives to businesses that employ apprentices. In a bid to offer support to the many thousands of Australians who have lost their jobs as a result of COVID-19, the federal government has pledged $2 billion to ensure that jobseekers are given the training they need to re-enter the workforce. Talk to your advisors for more information.

17.01.2022 Some important information and guides about face masks in the workplace. Worth a read - stay safe everyone!

16.01.2022 Juggling cash flow is hard at the best of times in small business, but its super tricky during the Christmas and New Year period when many businesses close and consumers go on holiday. Consider these 8 tips for maintaining cash flow during the festive season...and as always talk to us to get advice!

15.01.2022 While Australian bushfire season has devastated the lives of many and continues to do so, there is help on the way for impacted individuals, families and businesses.

15.01.2022 Late last year, the Morrison Government put discussions on the R&D tax incentive back on the table, announcing that it intended to move ahead with changes that lessen the value of the incentive for startups and innovative businesses. If you think this impacts you, talk to one of our Advisors.

13.01.2022 Grab a coffee and catch up on our January / February Practice update. Remember if you have any questions about this contact one of our helpful advisors!

13.01.2022 Providing benefits can be a great way to recognise and reward your employees contribution to your business, but you should remember that some benefits or perks are subject to Fringe Benefits Tax (FBT). Make sure you talk to us first.

10.01.2022 Our friends in hospitality, restaurants, cafes, pubs, gyms, indoor sporting venues, cinemas, live music, entertainment venues and other businesses can no longer operate as they would like. Local Lockdowns Business Support Program $5,000 grant to help businesses through temporary coronavirus (COVID-19) lockdowns. Register your interest now.

09.01.2022 **JOBKEEPER UPDATE** The Tax Commissioner has granted an extension of time to enrol for the JobKeeper scheme. The Commissioner has extended the time to enrol for the initial JobKeeper periods, from 30 April 2020 until 31 May 2020. If you enrol by 31 May you will still be able to claim for the fortnights in April and May, provided you meet all the eligibility requirements for each of those fortnights. This includes having paid your employees by the appropriate date for each fo...rtnight. For the first two fortnights (30 March 12 April, 13 April 26 April), the minimum $1,500 payment for each fortnight will still be accepted even if it has been paid late, provided it is paid by 8 May 2020. If you do not pay your staff by this date, you will not be able to claim JobKeeper for the first two fortnights. For any questions dont hesitate to reach out to us!

09.01.2022 **JobKeeper Update** Employers will gain easier access to the JobKeeper wage subsidy from the end of September in a $15 billion federal backflip to deal with the economic damage from sweeping Victorian shutdowns. Treasurer Josh Frydenberg will reverse the tougher eligibility rules announced less than three weeks ago to ensure more companies can qualify for the payment, which drops to $1200 a fortnight from September. More info to come....

08.01.2022 Hows everyone coping? Theres seems to slight change in confidence as restrictions slowly ease. Anyway, we hope you are all safe and well and herea little catch up for May. Dont forget to contact us for any assistance.

07.01.2022 In March 2020, the federal government announced early access to super as one of their measures to support people experiencing financial hardship during the COVID-19 pandemic. If this is something you are considering make sure you take the time to read this article and remember always talk to us first to see if this is suitable for your personal situation.

07.01.2022 Many of us have debts and bills to manage, but what happens when youre really struggling to pay? Find out what to do when you fall behind but most importantly talk to one of our consultants to help you plan and take the best course of action.

06.01.2022 Need to know what Stage 4 mean for Victoria? All details here including full lists of what is open and closed. Stay safe everyone!

06.01.2022 The Victorian Governments new $534 million Business Support Package will provide more support to help businesses and workers through to the other side of the coronavirus (COVID-19) pandemic. These expansion packages are now open! Talk to us to find out more or how to register.

05.01.2022 As the world wonders what the full impact of coronavirus will be, small business owners can start taking action to best shield their livelihoods from the worst of it. Small businesses need to have a plan to deal with the fallout from the virus which includes a drop in customer and sales numbers, disruption to supply chains and, ultimately, cash flow shortages. Here are 10 tips to manage the risks of the virus to your business.

05.01.2022 Hope everyone had a great Xmas! Heres some great family finance tips to have more money in the new year!

05.01.2022 If youre participating in the JobKepper program dont forget its now time to report your turnover for May and forecast your turnover for June. The sooner you declare this the sooner youll receive your JobKeeper payment. If you need assistance make sure you contact us so we can help you navigate through the process.

04.01.2022 **WERE OPEN FOR BUSINESS** Our message is simple we are here to help and support you, and we are open for business. We will work through this together. The Government has announced a number of measures to help support businesses through this rocky period and our consultants are more than happy to discuss your individual situation.... In light of the current unprecedented virus restrictions, our team is maintaining as safe an environment that we can by working in the office or at home depending on personal circumstances. In addition, we have hand sanitiser and cleaning facilities available. We are still open for the usual visits to the office but for a time we are trying to limit client face to face meetings and encourage meeting over the phone, video or email. However... Out of respect for our staff, our clients and our community please do not enter our office if you have any reason to suspect you may be a carrier of COVID 19 (coronavirus) or have been exposed to someone who might be. This includes anyone who: - Returned from overseas travel in the last 14 days; - is unwell, or showing symptoms such as fever or flu-like symptoms such as coughing, sore throat, fatigue, and shortness of breath. If you have reason to suspect you may be a carrier of COVID 19 (coronavirus) or have been exposed to someone who might be; have recently returned from overseas; or are not feeling well, well be happy to help you make alternative arrangements as we said we can still meet over the phone, video or email. If you are in the at risk category - Please dont come in phone us on: 03 9375 4286 If you are well and dont have a reason not to come in: Please dont be offended if we dont shake hands, and keep social distance of 1.5m. Health and Safety is in all our interests... if it is safe to do so, come on in As usual welcome to Hughes ODea Corredig, were glad youre here.

04.01.2022 The Governments $17 billion stimulus package will include tax breaks and subsidies for businesses over the next four years, including a massive expansion of the Instant Asset Tax Write-off. Read on for more information and make sure you contact your Advisor should you wish to discuss further.

03.01.2022 Its hard to believe we have almost come to the end of another year! From the team at Hughes ODea Corredig we would like to wish all our clients and suppliers a very Merry Christmas and a safe and Happy New Year! Please note our office will be closed for business from: 11:30am Friday 20th December and will re open on Monday 6th January 2020.

02.01.2022 **JOBKEEPER 2.0 UPDATE** The Federal Government yesterday announced changes to the JobKeeper scheme. Its yet to be legislated but in the meantime heres an overview of what to expect. Remember to talk to us if you have any questions and how this may affect you and your staff post September.

02.01.2022 Check out some of these great tips for the EOFY!

01.01.2022 First it was JobKeeper, then came JobSeeker, and now, its JobTrainer. The Governments latest stimulus package, JobTrainer, aims to facilitate the upskilling of thousands of out-of-work Australians, while also extending incentives to businesses that employ apprentices. In a bid to offer support to the many thousands of Australians who have lost their jobs as a result of COVID-19, the federal government has pledged $2 billion to ensure that jobseekers are given the training they need to re-enter the workforce. Talk to your advisors for more information.

01.01.2022 Jam packed edition of our December Christmas Practice update...make sure you check in with your consultant if you have any questions or would like further information. Grab a coffee...or 2.

01.01.2022 Having a strong grasp on cash flow will allow you to better position your business in tough times by knowing when to cut costs, address pricing issues and even take on additional capital when feasible to do so. Talk to us about how we can help.

01.01.2022 Happy New Financial Year! Generally at this time we get to see our amazing clients and work with them to plan for the year ahead. However, as challenging as this year has been, it seems Victoria in particular is in for another six weeks of Stage 3 COVID-19 lockdowns. Our office is currently closed and all our staff are working remotely. We are still available via phone and email, and are more than happy to take video appointments should anyone need to see us. Catch up on our latest practice update and dont hesitate to contact us if you have any questions. Stay safe!

01.01.2022 Overwhelmed and stressed about money during COVID-19? To keep your anxieties about money to a minimum, find out where you can turn for help to secure your finances and income.