Karvis Accountants | Business service

Karvis Accountants

Phone: +61 3 9134 6891

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25.01.2022 Something is free again.....and this time its CONTACT!!! We understand that its important to be responsible and vigilant in the times of a pandemic. But, at the same time, we do not want you to fall behind in lodging your taxes. That is why, we have come up with 'CONTACTFREE' services. We will handle your end-end tax lodgements and you do not even have to visit us!!! Sounds like comfort right!... All you have to do is mail your details to us and call to discuss, and we will have your taxes ready. You will be mailed your drafts which you can sign using our e-signature facility and then pay online from the comfort of your home. Our team will be readily available for you. Please reach us out on 03 9134 6891 or mail us at [email protected]

22.01.2022 JobMaker Update!! The Government has announced JobMaker Hiring Credit programme, managed by the ATO, to support businesses that hire young job seekers as part of Economic Recovery Budget Plan for 2020-21. For every additional employee the business hires, it will be able to claim JobMaker hiring credit for a period of over 12 months. This will apply to any jobs created after 7th October 2020.... The enrolment starts in December 2020 and claims can be made quarterly starting February 2021. The credit amount would be: > $200/week for each eligible employee aged 16-29 > $100/week for each eligible employee aged 30-35 Eligibility criteria for employers: > Hold an ABN > No tax lodgement obligations > To be registered for PAYG withholding > Reporting using Single Touch Payroll Eligibility criteria for employees: > Aged between 16-35 > Recipient of income support payments from Centrelink for at least 3 months before getting hired > Should have worked for at least 20 hours a week Further conditions also apply based on employer's payroll until 30 September 2020. Please keep checking this space for further updates on when the enrolment would open. You can contact us on 03 9134 6891 or mail us at [email protected] in case you have any questions. For more information, please visit https://www.ato.gov.au/.../The.../JobMaker-Hiring-Credit/ https://au.finance.yahoo.com/.../jobmaker-passes...

21.01.2022 In this difficult times I would like to remind everybody that human spirit trumps all !!!

21.01.2022 Please check if you meet the eligibility criteria and take benefit of it, in case you haven’t applied yet. Early withdrawal of super is not available to temporary residents after 30 June 2020.

20.01.2022 One of the key steps to register for Jobkeeper payments is get your myGovID and link your businesses. This will enable you to access your business portal. Please find the link to instructions to set myGovID below: https://www.mygovid.gov.au/

17.01.2022 GIven the current requirements to gain early access to superannuation, eligible individuals are requested to: 1. Set up your myGov account (seperate from myGovID) and link it to the ATO. 2. Have your bank account information available you will ... need this to complete your application. 3. Check your super balance. Steps to create myGov Account 1. Set up the account at https://my.gov.au/LoginServices/main/login?execution=e1s1 2. Link it with ATO services - Call us if have any doubts

16.01.2022 The Australian governments new home builder scheme.

16.01.2022 DON'T AVOID TAXES.....AVOID FINES!! With lockdown being implemented across Melbourne and other regions, we understand it is difficult to move around the city. We also agree to that, as it is important for all of us to follow precautions and preventive measures to come out of this pandemic together. But, this doesn't mean you fall behind in filing your taxes or get out of your houses to get your taxes done and then face fines!!!!!!! (oh no!).... That is why we have come up with completely 'contactless' returns. That way you can get your taxes done on time and you don't even have to visit us!!!!! Sounds easy???? It is very EASY. All you have to do is, follow the simple steps below: STEP 1: Visit our website https://www.karvistax.com.au/ STEP 2: Go to the Downloads page https://www.karvistax.com.au/downloads/ You will find a list of forms that are fillable PDFs. STEP 3: Download and fill the forms that are required, Client checklist (to add you on our portal and access your details) Personal claim template (to enter your work related expenses) Substantiation declaration (where you sign and confirm that data provided is true and correct) Rental sheet and checklist (if you have rental income and deductible expenses) STEP 4: Mail the filled forms to [email protected] STEP 5: We will prepare your drafts, give you a call to discuss and the finalise the returns to lodge. Everything in 5 easy steps and you can get your taxes done from the comfort of your home. Your tax returns are just a few clicks away. Just visit our website, https://www.karvistax.com.au/ and get in touch with us. As we always say, you'll be collaborating with the best! :) Call: 0449594996 Mail: [email protected]

16.01.2022 FYI for students

15.01.2022 The Victorian Government has extended its support to International Students in Victoria. The Government recently announced its 'The International Student Emergency Relief Fund', under which all international students facing financial hardships and loss of jobs or reduction in employment, are eligible to receive a payment of $1,100 as a support. More info: https://www.studymelbourne.vic.gov.au//support-for-student Further, though the eligibility criteria and the details of t...he application process are not available yet, students can still register their interest, upon which they will be directly intimated about the developments on the process. Link to register, https://www.studymelbourne.vic.gov.au//support-fund-regist You can always contact us for more information or if you have any questions. Keep an eye on this space for more. Thanks!

15.01.2022 Businesses: The increased instant asset write-off has been extended to 31 December 2020! This means that eligible businesses can continue to invest in assets that cost less than $150,000 each Check out what you can claim at www.ato.gov.au//Simpler-depreciat/Instant-asset-write-off/

13.01.2022 EXTENDED INCOME SUPPORT The existing Coronavirus supplement of $550/fortnight will go on until 24 September 2020 as usual. It is further extended to 31 December 2020, but beyond 24 September the amount available is $250 per fortnight. The supplement will be paid to all eligible income support receivers of Centrelink payments.... Existing receivers of income support will automatically receive it. Any unregistered/new individuals, who lost their jobs or got their shifts reduced will have to apply for income support. Further information in, https://treasury.gov.au//househol/increased-income-support Please keep an eye on our page for further updates. You can contact us in case of any questions. 03 9134 6891

13.01.2022 Job Keeper Enrollments have started for companies, trusts, soletraders and partnerships. Please contact us or your respective Tax agents if you need help or need enrolment. The last date for enrollements are April 30th 2020. Eligibility criteria and charges apply.

10.01.2022 Senator the Hon Michaelia Cash has released the following update to assist Small Businesses and Households impacted by COVID-19 Bridging Funding for JobKeeper Australian banks are playing a vitally important role in bridging the finance that businesses need to pay their staff ahead of receiving the first JobKeeper Payment in the first week of May.... It is an integrity measure that businesses pay their staff before receiving the JobKeeper Payment. On 23 April 2020, the Treasurer announced the Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), Westpac and ANZ banks agreed to establish dedicated hotlines for their customers to call to receive the bridging finance necessary to pay their staff ahead of receiving the JobKeeper Payment. The hotlines are as follows: CBA: 13 26 07 ANZ: 1800 571 123 NAB: 1800 JOBKEEPER Westpac: 1300 731 073 and Westpac’s subsidiaries; St George: 1300 730 196 Bank of Melbourne: 1300 784 873 Bank SA: 1300 669 472 The banks have also agreed to bring to the front of the queue all bridging finance applications. This means any business that is eligible for the JobKeeper Payment can now ring the dedicated hotline for the bank and ask for the bridging finance necessary to pay their staff. The banks know their customers. They know these businesses. The banks need to stand by these businesses in their time of greatest need and that is now. The ATO have also set out detailed guidance on eligibility and enrolment for the JobKeeper Payment. Please visit: www.ato.gov.au/General/JobKeeper-Payment/

10.01.2022 Some graphic highlights- courtesy nine news.

09.01.2022 The time has come!!!! With the financial year coming to an end, the next step that is important is to sort your taxes. Not to worry, as Karvis Accountants is always there to assist you with tailored solutions most suitable for you. With years of experience and expertise in the field, we can assure you that you would be collaborating with the best.... We, as responsible beings, are also aware of the current situation in the wake of Covid crisis and have seen the efforts put in by people directly fighting the pandemic. Recognising the contribution done by Healthcare Professionals (Nurses, aged care assistants etc.), we are going to provide free tax filing services to them this financial year. We believe in giving back to the community. Just a gesture that matters!!!!!!!!!! Please get in touch with us here. Alternatively, you can also call or email us. Phone: 03 9134 6891 Mail: [email protected] Looking forward to connecting with you all.

08.01.2022 #MelbourneMAMA Source Link https://www.voanews.com//australia-allows-international-st

06.01.2022 While we tend to focus only on the tax cuts .. really important to see the big picture!

06.01.2022 Alert!!!! The link to apply for the International Student Relief fund via Victorian Government is open now. See https://www.studymelbourne.vic.gov.au//international-stude... Applications can be done through two streams. 1. For students enrolled in a University/TAFE, they can follow this stream and proceed by selecting the University they are enrolled from a list. Follow, https://www.studymelbourne.vic.gov.au//international-stude The benefits and funds that were already provided my some universities fall under this mainly. If you are not eligible/could not apply under this, you might even apply under stream two, but check with your university before proceeding (some might have received mails already). 2. For students under private education providers and colleges can follow stream two. See list of eligible colleges, https://www.studymelbourne.vic.gov.au//p/list-of-providers Students would also need a set of supporting documents to proceed. You can find that information in, https://www.studymelbourne.vic.gov.au//application-support The final application can be filed via, https://businessvic.secure.force.com/PublicForm You can follow the above link, fill your details, attach the required documents like; CoE, VEVO copy, proof of employment in March/reduction in employment and submit the application. You can always reach out to Karvis Accountants, in case you have any questions. :)

04.01.2022 ----Alert----- The deadline of initial enrolment for Jobkeeper has been now extended to 31 May 2020. Businesses can now enrol until 31 May and those enrolling in MAY are still eligible to apply for payments of April and May, provided they match all requirements.... The employees must have been paid ($1,500/fortnight) already for the first two periods, i.e., 30 Mar-12 Apr and 13 Apr-26 Apr to be eligible to enrol. Late payment for those periods is still allowed but, it should NOT be after 8 May 2020. Please contact us for more information!

03.01.2022 Great news guys !

02.01.2022 A good summary !

02.01.2022 Heroes without Capes!!!!! All these superheroes and mutants that we adore stayed in their comic books, while it was our doctors, nurses and other healthcare workers that saved us by working relentlessly. We, at Karvis Accountants, recognise these true heroes. As a way of showing respect and giving back, we are going to assist all healthcare professionals (nurses, aged care personnel and carers etc) in filing their taxes FREE of charge this financial year.... Please feel free to contact us on 03 9134 6891 or alternatively you can also mail us at [email protected]

01.01.2022 JOBKEEPER 2.0!!!!! It is a relief to know that the Government has announced extension of Jobkeeper beyond 27th September 2020, which will go on until 28 March 2021. However, certain conditions apply. All businesses and non-profit organisations will have to get their eligibility reassessed in order to continue applying for the subsidy. This time Jobkeeper will have two tiers.... For the period, 28th September 2020 to 3 January 2021, the eligibility reassessment will be based on the actual numbers for the quarters of June and September. Business will have to demonstrate that there is a continuing decline in turnover. The payment rates are also different than the existing system. $1,200/fortnight for eligible employees and business participants working full time (more than 20 hours a week on average). $750/fortnight for eligible employees and business participants working part time (less than 20 hours a week on average). For the period after that, 4 January 2021 to 28 March 2021, similar conditions apply. Reassessment of eligibility is based on the turnover for previous three quarters, i.e., quarters of June, September and December. It is mandatory to show continuing decline in turnover. The payment rates would be, $1,000/fortnight for eligible employees and business participants working full time (more than 20 hours a week on average). $650/fortnight for eligible employees and business participants working part time (less than 20 hours a week on average). The existing conditions, rates and methods will be in place until 27th September 2020. The revised and updated measures will step in after that. Please follow the below link for more detailed information, https://treasury.gov.au/coronavirus/jobkeeper ***Also, it is important to note that Jobkeeper benefit is suspended for child care providers/workers from fortnight starting 20 July 2020. You can always contact us in case you need any further information. 03 9134 6891 [email protected]

01.01.2022 Small Business Digital Adaptation Programme A step towards digitalization of businesses, this support programme will help businesses to test and then gain access to digital products and tools, along with the training required to use that digital capability. The support fund will assist the business in ... > applying any new products and systems, > upgrading existing systems > or restoring access to any systems that were lost The products currently available under this programme are > Website > E-commerce > Finance and digital management tools How this works??!! Once a business is registered under this, they will be able to select and trial the products provided by suppliers partnered with the Victorian government. After a product is purchased, businesses can apply for a rebate of $1,200 to have access to the selected product for 12 months. Any training required to adapt to the digital changes will be provided for free. The link to register is open now, with limited spaces. The applications will be open until 28 February 2021 or until the funds are exhausted. You can get in touch with us to know more about this support fund and to register. Please call us on 03 9134 6891 or mail us at [email protected]. Link to register, https://www.business.vic.gov.au//Small-Business-Digital-Ad