Imperium Accounting & Tax in Sydney, Australia | Financial service

Imperium Accounting & Tax

Locality: Sydney, Australia

Phone: +61 402 412 715

Address: Level 2, 35 Clarence St 2000 Sydney, NSW, Australia

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

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22.01.2022 TAX PLANNING With the ever changing tax landscape in Australia, Tax Planning is an essential exercise every single business must undertake annually at the very least. There are major benefits for the business itself as well as the business owners which in turn help the business grow by providing greater cash flow and flexibility. At Imperium Accounting & Tax, Tax Planning is a mandatory exercise we perform for all business clients and is constantly monitored throughout the year to ensure they are paying only the amount of tax that they are legally obligated to pay. This enables our clients to rest assured that they are doing everything possible to minimise the amount of tax they pay within the letter of the law. If you think you and your business might be paying too much tax, contact us and see how we can assist.

21.01.2022 I interviewed #IanMachlachlan from #ImperiumAccounting&Tax .This guy has a love for Tax and empowering businesses to succeed, seeing the underdog come out on to...p and truly believes that those businesses that can innovate today, will be the winners at the end. We talked about all the business grants, subsidies and incentives the government has made available in response to the COVID19 crisis. Check out his page here https://www.facebook.com/imperiumacctax/ Website www.imperiumaccounting.com.au https://soundcloud.com//ian-maclachlan-financial-incentive

21.01.2022 We are proud to announce that Imperium Accounting & Tax has been nominated as a finalist in the Start-Up Firm of the Year category on the 2020 Australian Accounting Awards. We would like to thank all of our clients for their continued support. https://www.accountantsdaily.com.au//winners/2020-finalists

20.01.2022 In the wake of COVID 19, the Government has announced a number of incentives for Businesses. Incentive 1 - Increasing the Instant Asset Write-Off The instant asset write-off threshold has been increased from $30,000 to $150,000 and expanded to include businesses with aggregated annual turnover of less than $500 million (up from $50 million). This applies from 12 March 2020 until 30 June 2020, for new or second hand assets first used or installed ready for use in this timeframe.

19.01.2022 NSW SMALL BUSINESS COVID-19 $10,000 GRANT Applications for a small business grant of up to $10,000 will be available through Service NSW within a fortnight and remain open until 1 June 2020. To be eligible, businesses will need to:... 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. Contact us if we can assist.

19.01.2022 Incentive #2 - Boosting Cash Flow for Employers This measure will provide up to a maximum $25,000 back to businesses with a turnover of less than $50 million, with a minimum payment of $2,000 for eligible businesses that employ staff. The payment will be tax free. Eligible businesses that withhold tax to the ATO on their employees salary and wages will receive a payment equal to 50 per cent of the amount withheld, up to a maximum payment of $25,000. The ATO will deliver the ...payment as a credit to the business upon lodgement of their activity statements. Quarterly lodgers will be eligible to receive the payment for the quarters ending March 2020 and June 2020. Monthly lodgers will be eligible to receive the payment for the March 2020, April 2020, May 2020 and June 2020 lodgements. To provide a similar treatment to quarterly lodgers, the payment for monthly lodgers will be calculated at three times the rate (150 per cent) in the March 2020 activity statement.

17.01.2022 In times of great uncertainty, it is more important than ever that Small Business owners have access to the most up to date and relevant information available so that they can navigate their way through these uncertain times. We have created a group called Business INsights which comprises a panel of Industry thought leaders, which produces a 30 minute video every Monday at 12pm that provides Small Business owners with all the information they require You can attend the live version every Monday and ask questions at the end by registering for the Webinar by clicking on this link https://us02web.zoom.us//register/WN_6ksGFCJiQESCkPRHwaBk-A If you cant attend, you can subscribe to our YouTube channel by clicking on the link below and watch when it suits you https://www.youtube.com/channel/UCs7RCco2TZoXH-3XzyP_udg?

16.01.2022 In this Podcast, Ian Maclachlan talks about the second round of Government Stimulus to support business and what businesses need to do to try and get themselves through these difficult times. https://soundcloud.com//ian-maclachlan-financial-incentive

11.01.2022 Incentive # 3 - Supporting Apprentices and Trainess If you employ an apprentice or trainee you may be eligible for a wage subsidy of 50 per cent of their wage paid from 1 January 2020 to 30 September 2020. You can register for the subsidy from early April 2020. Employers will be reimbursed up to a maximum of $21,000, per eligible apprentice or trainee ($7,000 per quarter).

11.01.2022 The NSW Government will defer payroll tax payments for the rest of 2019-20 for small businesses with payrolls of less than $10 million. Eligible businesses will also have 25 per cent of their annual payroll tax liabilities waived as part of their 2019-20 annual reconciliation.

10.01.2022 Luxury Car Depreciation. Can you get a 100% deduction based on the full expensing of assets announced in the Federal Budget? The answer is "no" in relation to the full cost of the vehicle. The car limit is $59,136 for the 2020-21 financial year.

09.01.2022 We have prepared a summary of the second round of measures announced by the Government on 22 March 2020 in response to the impact of COVID-19. Some of these are an expansion on the first round of measures that were announced previously. If youd like a copy of the summary, please send a message.

07.01.2022 The instant asset write-off threshold of $150,000 for businesses with an aggregated turnover of less than $500 million, will now be extended to 31 December 2020.The instant asset write-off threshold of $150,000 for businesses with an aggregated turnover of less than $500 million, will now be extended to 31 December 2020.

04.01.2022 As part of the governments coronavirus response package, it has provided for the ATO to give administrative relief for some tax obligations for people affected by the coronavirus outbreak, on a case-by-case basis. Business operatives affected by the coronavirus should contact the ATO to discuss relief options. Options include: Deferring by up to four months the payment date of amounts due through BAS (including PAYG instalments), income tax and FBT assessments and excise;... Allowing businesses on a quarterly reporting cycle to opt into monthly GST reporting in order to get quicker access to GST refunds they may be entitled to; Allowing businesses to vary PAYG instalment amounts to zero for the April 2020 quarter; businesses that vary their PAYG instalment to zero can also claim a refund for any instalments made for the September 2019 and December 2019 quarters; Remitting any interest and penalties, incurred on or after 23 January 2020, that have been applied to tax liabilities, and Working with affected businesses to help them pay their existing and ongoing tax liabilities by allowing them to enter into low-interest payment plans.

01.01.2022 Applications for the $10,000 small business COVID-19 support grant are now open until 1 June 2020. Link https://www.service.nsw.gov.au//apply-small-business-covid