Kashflow Accounting Solutions in Rowville, Victoria | Tax preparation service

Kashflow Accounting Solutions

Locality: Rowville, Victoria

Phone: +61 403 333 872

Address: 3 Tamar Ave 3178 Rowville, VIC, Australia

Website: http://Kashflow.com.au/

Likes: 115

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25.01.2022 Complete your Tax Return Online via Phone Call or a Video Chat with our Qualified Accountants. You get the best advice, guaranteed maximum refund, and for the limited time, you get a serious discount as well. Simply choose your appointment date and time and our accountant will call you. Use the promo code to get the discount. https://www.kashflow.com.au//tax-return-for-individua/book I get the best Tax Advice for my Youtube earning and I got more return this year. Definit...ely 5 stars from me. T.K. I used this company the first time and I must say, I am impressed. The amount of patience and knowledge they have is awesome. Michael. H Highly Recommended for your BAS, you may forget the expenses, they will not. I was amazed by the minor details they keep an eye on. Get most of my GST refund from my Rideshare work. Stephanos M. See more

25.01.2022 Australians have until 31 October to complete their 2020 tax returns, unless they have registered with an accountant.

22.01.2022 $3 billion to support Victorian businesses closing in 60 days. The Victorian Government recently announced a third round of the Business Support Fund ensuring businesses impacted by coronavirus (COVID-19) restrictions continue to receive the support they need to make it through restricted trading. The Victorian Government is investing $3 billion to help businesses impacted by ongoing restrictions and prepare for COVID Normal business.... $3 billion in cash grants, tax relief and cashflow support will be delivered to Victorian businesses that have been most affected by coronavirus (COVID-19) restrictions. The package will help businesses survive and keep Victorians in jobs. As Tax and Accounting Professionals we can help you with your grant application. This third round of business support fund application will be closed in 60 days. Contact us now to apply for the grant immiditely. Business Support; Small and medium-sized business ($822 million): The third round of the Business Support Fund provides grants of $20,000, $15,000 or $10,000, depending on size, to around 75,000 eligible businesses with a payroll of up to $10 million. Applications open Friday 18 September 2020. Licensed Hospitality Business ($251 million): The Licensed Hospitality Venue Fund provides grants of up to $30,000 for licensed pubs, clubs, hotels, bars, restaurants and reception centres, based on their venue capacity and location, plus liquor license fees waived until 2021. Sole Trader Support Fund ($100 million): The Sole Trader Support Fund provides grants of up to $3,000 to over 30,000 eligible sole traders in sectors such as retail, accommodation and food services, creative and media, hairdressing, gyms, events, education and training who operate from commercial premises or location as a tenant. Alpine businesses ($4.3 million): Grants of up to $20,000 to help alpine businesses pay a service charge to Alpine Resort Management Boards. Business Chambers and Trader Groups ($3 million): Grants for Business Chambers and Trader Groups is a competitive grants program to support local business groups and chambers of commerce in helping their members adapt to COVID Normal. The full list of eligible busineses can be found on this link https://www.business.vic.gov.au//Third-round-of-the-Busine

20.01.2022 Travelled for business? Make the most of your deductions by working out your travel expenses before you lodge your tax return. If you travel or have travelled for your business, you may be wondering which expenses you can claim in your tax return. You might want to know if you can claim for expenses such as:... car hire fees or using your own car accommodation meals for overnight travel sightseeing and entertainment souvenirs and gifts taking a family member on the trip. We will help you answer common questions about: which expenses you can and can't claim separating the private and business portions of expenses records you need to keep how to keep a travel diary. If your employees travel for your business, your business can claim the expenses as a deduction if you 've paid for the travel expenses. Fringe benefits tax may apply if your business pays for or reimburses your employees for their travel expenses. While COVID-19 has greatly affected our current environment, remember help is available if you need it. Contact us for if you need help with your tax.

20.01.2022 Check if you're eligible for any of these concessions in your tax return: Small business income tax offset. If you run a business with a turnover less than $5 million as a sole trader, partnership or trust, you can reduce your tax bill by up to $1,000.... This is different from the low and middle income tax offset, which you may also be eligible for. Simply report your net small business income in your individual tax return. We'll then work out the offset amount you're eligible for and include it in your assessment. Lower company tax rate. If you operate your business as a company, you may be eligible for the lower company tax rate of 27.5%. Before using this rate, check whether your business is a 'base rate entity'. This depends on your company's aggregated turnover and how much of its income is passive income. Deduction concessions. There are a range of concessions you can use to deduct expenses in full that you would usually have to deduct over a number of years. For example, the instant asset write-off, accelerated depreciation and concessions for start-up expenses allow you to do this. Remember, as your Tax and Accounting Professional we can help you with your tax.

16.01.2022 $3 billion to support Victorian businesses closing in 60 days. The Victorian Government recently announced a third round of the Business Support Fund ensuring businesses impacted by coronavirus (COVID-19) restrictions continue to receive the support they need to make it through restricted trading. The Victorian Government is investing $3 billion to help businesses impacted by ongoing restrictions and prepare for COVID Normal business.... $3 billion in cash grants, tax relief and cashflow support will be delivered to Victorian businesses that have been most affected by coronavirus (COVID-19) restrictions. The package will help businesses survive and keep Victorians in jobs. As Tax and Accounting Professionals we can help you with your grant application. This third round of business support fund application will be closed in 60 days. Contact us now to apply for the grant immiditely. Business Support; Small and medium-sized business ($822 million): The third round of the Business Support Fund provides grants of $20,000, $15,000 or $10,000, depending on size, to around 75,000 eligible businesses with a payroll of up to $10 million. Applications open Friday 18 September 2020. Licensed Hospitality Business ($251 million): The Licensed Hospitality Venue Fund provides grants of up to $30,000 for licensed pubs, clubs, hotels, bars, restaurants and reception centres, based on their venue capacity and location, plus liquor license fees waived until 2021. Sole Trader Support Fund ($100 million): The Sole Trader Support Fund provides grants of up to $3,000 to over 30,000 eligible sole traders in sectors such as retail, accommodation and food services, creative and media, hairdressing, gyms, events, education and training who operate from commercial premises or location as a tenant. Alpine businesses ($4.3 million): Grants of up to $20,000 to help alpine businesses pay a service charge to Alpine Resort Management Boards. Business Chambers and Trader Groups ($3 million): Grants for Business Chambers and Trader Groups is a competitive grants program to support local business groups and chambers of commerce in helping their members adapt to COVID Normal. The full list of eligible busineses can be found on this link https://www.business.vic.gov.au//Third-round-of-the-Busine

16.01.2022 How to set up myGov ID for the Business Portal? Before using the Business Portal for the first time, you need to set up your access using myGovID and Relationship Authorisation Manger (RAM). In the Business Portal you can apply for the JobKeeper Payment, lodge activity statements and access the Small Business Superannuation Clearing House.... To set up: Download the myGovID app from the App Store or Google Play. You need to add two of the following Australian identity documents and your name must match exactly in both documents: 1- driver’s licence or learner’s permit 2- passport 3- birth certificate 4- Medicare card 5- visa (using your foreign passport) Log into the RAM website using your myGovID and follow the prompts to 'link your business'. (optional) In RAM, authorise your employees and others to act on behalf of your business online. They'll receive an email to accept the authorisation request using their myGovID. If you‘ve authorised an employee or someone with a Basic identity strength myGovID they may be able to upgrade their identity strength to standard by adding a second identity document. However, you will need to create a new authorisation in RAM for them following the upgrade. Next Step: Once you've completed the above steps, you can log into the Business Portal using myGovID. A four-digit code will appear on the login screen of your browser for you to enter in the myGovID app. Remember, as Tax and Accounting Professionals we can help you with your tax and JobKeeper Payments.

14.01.2022 Australians have until 31 October to complete their 2020 tax returns, unless they have registered with an accountant.

13.01.2022 Who is eligible for JobKeeper in your Business? Did you know that if your business is enrolled for the JobKeeper Payment, you may be able to claim payments for an eligible business participant? An eligible business participant is an individual who is not an employee of your business, but who is actively engaged in its operation.... For example, they might manage the sale of your business’s goods or exercise control over your business strategy. To be eligible for JobKeeper payments, the business participant must be an individual who is: a sole trader (and is not bankrupt) a director of a company a shareholder in a company a partner of a partnership (but not through an interposed entity, for example, an individual trustee of a trust that is a partner in a partnership) an adult beneficiary of a trust (who is not the trustee). The individual must also meet other criteria, including having been actively engaged in the business on 1 March 2020. You can only nominate one eligible business participant, even if several people meet the criteria. Unlike employees, the key date for assessing business participants' eligibility is still 1 March 2020. The individual must be engaged in the fortnight that the JobKeeper payment is claimed. For instance, if your eligible business participant is on leave, you cannot claim JobKeeper payments for JobKeeper fortnights that fall in that time period. Key Points 1- Employers need to test their eligibility to receive Jobkeeper payments for the period of 28th September 2020 to 3rd January 2021 and then again re-test their eligibility for the period 4 January 2021 to 28th March 2021 2- The decline in turnover must now be calculated on an actual turnover on a quarterly basis, not the projected turnover. 3- The commissioner can make alternative tests where the new actual decline in the turnover test is not appropriate or cannot be met. For example, there is no comparison period. At this stage, the ATO has not issued any further information regarding alternative tests. 4- Eligible employees who worked for 80 hours or more in the 28 days ending at the end of the most recent pay cycle that ended before either 1 March 2020 or 1 July 2020. 5- Eligible business participants are also subject to the same 80 hours test. However, this test is only required to be done for February 2020. 6- If the business satisfies the decline in turnover test in September 2020 but not in December 2020, it will be eligible for the 1st extension period but will not be eligible for 2nd extension period. 7- A business can be eligible for the 2nd extension period ( i.e based on the December quarter results ) even if it is not eligible for the 1st extension period. The remains open to new entrants. 8- To qualify for the JKP, notification should be provided to the in an approved form.

09.01.2022 How to set up myGov ID for the Business Portal? Before using the Business Portal for the first time, you need to set up your access using myGovID and Relationship Authorisation Manger (RAM). In the Business Portal you can apply for the JobKeeper Payment, lodge activity statements and access the Small Business Superannuation Clearing House.... To set up: Download the myGovID app from the App Store or Google Play. You need to add two of the following Australian identity documents and your name must match exactly in both documents: 1- driver’s licence or learner’s permit 2- passport 3- birth certificate 4- Medicare card 5- visa (using your foreign passport) Log into the RAM website using your myGovID and follow the prompts to 'link your business'. (optional) In RAM, authorise your employees and others to act on behalf of your business online. They'll receive an email to accept the authorisation request using their myGovID. If you‘ve authorised an employee or someone with a Basic identity strength myGovID they may be able to upgrade their identity strength to standard by adding a second identity document. However, you will need to create a new authorisation in RAM for them following the upgrade. Next Step: Once you've completed the above steps, you can log into the Business Portal using myGovID. A four-digit code will appear on the login screen of your browser for you to enter in the myGovID app. Remember, as Tax and Accounting Professionals we can help you with your tax and JobKeeper Payments.

08.01.2022 Varying your pay as you go instalments You can vary your pay as you go (PAYG) instalments if you think you will pay too much compared with your estimated tax for the year. To assist businesses affected by COVID-19, ATO won't apply penalties or interest for the 2020-21 income year for excessive variations when you make your best attempt to estimate your end of year tax.... Variations don't carry over into the new income year. If you made variations in the 2019-20 income year, you may need to vary again in 2020-21. You can vary your instalments throughout the year. Your varied amount or rate will apply for all your remaining instalments for the income year, or until you make another variation. ATO encourages you to review your tax position regularly and vary your PAYG instalments as your situation changes. Calculating and paying the right PAYG instalment amounts will help you manage a healthy cash flow. General interest charges may apply to outstanding PAYG instalment balances. Remember, as your Tax and Accounting Professional we can help you with your tax.

07.01.2022 Travelled for business? Make the most of your deductions by working out your travel expenses before you lodge your tax return. If you travel or have travelled for your business, you may be wondering which expenses you can claim in your tax return. You might want to know if you can claim for expenses such as:... car hire fees or using your own car accommodation meals for overnight travel sightseeing and entertainment souvenirs and gifts taking a family member on the trip. We will help you answer common questions about: which expenses you can and can't claim separating the private and business portions of expenses records you need to keep how to keep a travel diary. If your employees travel for your business, your business can claim the expenses as a deduction if you 've paid for the travel expenses. Fringe benefits tax may apply if your business pays for or reimburses your employees for their travel expenses. While COVID-19 has greatly affected our current environment, remember help is available if you need it. Contact us for if you need help with your tax.

04.01.2022 Do you meet the GST threshold? If you're not registered for GST, tax time is the perfect time to check your business turnover to see if you need to register. You'll need to register for GST:... when you have an annual turnover (gross income minus GST) of $75,000 or more, or $150,000 for non-profit organisations if you provide taxi travel for passengers (including ride-sourcing) regardless of your GST turnover this applies to both owner drivers and if you lease or rent a taxi if you want to claim fuel tax credits for your business. You should check each month to see if you've reached the GST threshold. Remember, as your Tax and Accounting Professional we can help you with your tax.

03.01.2022 If your business is eligible to claim the instant asset write-off, you need to consider the car limit. The car limit is the maximum depreciation expense you can claim for a car. The car limit applies to the cost of some passenger vehicles. It applies to passenger vehicles designed to carry a load less than one tonne and fewer than nine passengers. It does not apply to motorcycles or similar vehicles, or to vehicles fitted out for use by people living with a disability. Instan...t asset write-off and the car limit: The car limit is: $57,581 for the 201920 income tax year $59,136 for the 202021 income tax year. Here are some tips to help you get it right: If the car limit applies to your vehicle, you can only claim a deduction for the business portion of the car limit. To use the instant asset write-off you must have used your vehicle, or had it delivered ready for use, between 12 March and 31 December 2020. When calculating car depreciation amounts: If you're registered for GST and can claim the full GST credit, exclude the GST amount you paid on the car. If you're not registered for GST, include the GST amount you paid on the car. You can't claim the excess cost over the car limit under any other depreciation rules. Remember, We as Tax Accounting Professional can help you with your tax.

19.12.2021 Varying your pay as you go instalments You can vary your pay as you go (PAYG) instalments if you think you will pay too much compared with your estimated tax for the year. To assist businesses affected by COVID-19, ATO won't apply penalties or interest for the 2020-21 income year for excessive variations when you make your best attempt to estimate your end of year tax.... Variations don't carry over into the new income year. If you made variations in the 2019-20 income year, you may need to vary again in 2020-21. You can vary your instalments throughout the year. Your varied amount or rate will apply for all your remaining instalments for the income year, or until you make another variation. ATO encourages you to review your tax position regularly and vary your PAYG instalments as your situation changes. Calculating and paying the right PAYG instalment amounts will help you manage a healthy cash flow. General interest charges may apply to outstanding PAYG instalment balances. Remember, as your Tax and Accounting Professional we can help you with your tax.

08.12.2021 Running your business from home? If your home is your main place of business, you may be able to claim the business portion of some expenses. You may be able to calculate your home-based business running expenses using:... a fixed rate of 52 cents an hour for each hour you operate your business from home This covers heating, cooling, lighting, cleaning and the depreciation of furniture and furnishings. You will need to separately calculate phone and internet expenses, consumables and certain depreciation expenses. the temporary working from home shortcut method of 80 cents an hour This can be used by individuals running home-based businesses from 1 March 2020 until 30 September 2020. This covers all the expenses normally included under the 52 cents rate and all additional deductible running expenses. any other reasonable method. You may also be able to claim occupancy expenses, like rent, in certain circumstances. Exclude your private living costs and keep records to show how you calculated your expenses. You can’t claim the same expenses in two different ways. The temporary working from home shortcut method is all-inclusive. For example, you can't claim the full cost of purchasing a photocopier using instant asset write-off and also claim with the home shortcut method. Remember, as your Tax and Accounting Professional registered we can help you with your tax.

19.11.2021 Do you meet the GST threshold? If you're not registered for GST, tax time is the perfect time to check your business turnover to see if you need to register. You'll need to register for GST:... when you have an annual turnover (gross income minus GST) of $75,000 or more, or $150,000 for non-profit organisations if you provide taxi travel for passengers (including ride-sourcing) regardless of your GST turnover this applies to both owner drivers and if you lease or rent a taxi if you want to claim fuel tax credits for your business. You should check each month to see if you've reached the GST threshold. Remember, as your Tax and Accounting Professional we can help you with your tax.

16.11.2021 Check if you're eligible for any of these concessions in your tax return: Small business income tax offset. If you run a business with a turnover less than $5 million as a sole trader, partnership or trust, you can reduce your tax bill by up to $1,000.... This is different from the low and middle income tax offset, which you may also be eligible for. Simply report your net small business income in your individual tax return. We'll then work out the offset amount you're eligible for and include it in your assessment. Lower company tax rate. If you operate your business as a company, you may be eligible for the lower company tax rate of 27.5%. Before using this rate, check whether your business is a 'base rate entity'. This depends on your company's aggregated turnover and how much of its income is passive income. Deduction concessions. There are a range of concessions you can use to deduct expenses in full that you would usually have to deduct over a number of years. For example, the instant asset write-off, accelerated depreciation and concessions for start-up expenses allow you to do this. Remember, as your Tax and Accounting Professional we can help you with your tax.

31.10.2021 Who is eligible for JobKeeper in your Business? Did you know that if your business is enrolled for the JobKeeper Payment, you may be able to claim payments for an eligible business participant? An eligible business participant is an individual who is not an employee of your business, but who is actively engaged in its operation.... For example, they might manage the sale of your business’s goods or exercise control over your business strategy. To be eligible for JobKeeper payments, the business participant must be an individual who is: a sole trader (and is not bankrupt) a director of a company a shareholder in a company a partner of a partnership (but not through an interposed entity, for example, an individual trustee of a trust that is a partner in a partnership) an adult beneficiary of a trust (who is not the trustee). The individual must also meet other criteria, including having been actively engaged in the business on 1 March 2020. You can only nominate one eligible business participant, even if several people meet the criteria. Unlike employees, the key date for assessing business participants' eligibility is still 1 March 2020. The individual must be engaged in the fortnight that the JobKeeper payment is claimed. For instance, if your eligible business participant is on leave, you cannot claim JobKeeper payments for JobKeeper fortnights that fall in that time period. Key Points 1- Employers need to test their eligibility to receive Jobkeeper payments for the period of 28th September 2020 to 3rd January 2021 and then again re-test their eligibility for the period 4 January 2021 to 28th March 2021 2- The decline in turnover must now be calculated on an actual turnover on a quarterly basis, not the projected turnover. 3- The commissioner can make alternative tests where the new actual decline in the turnover test is not appropriate or cannot be met. For example, there is no comparison period. At this stage, the ATO has not issued any further information regarding alternative tests. 4- Eligible employees who worked for 80 hours or more in the 28 days ending at the end of the most recent pay cycle that ended before either 1 March 2020 or 1 July 2020. 5- Eligible business participants are also subject to the same 80 hours test. However, this test is only required to be done for February 2020. 6- If the business satisfies the decline in turnover test in September 2020 but not in December 2020, it will be eligible for the 1st extension period but will not be eligible for 2nd extension period. 7- A business can be eligible for the 2nd extension period ( i.e based on the December quarter results ) even if it is not eligible for the 1st extension period. The remains open to new entrants. 8- To qualify for the JKP, notification should be provided to the in an approved form.

14.10.2021 If your business is eligible to claim the instant asset write-off, you need to consider the car limit. The car limit is the maximum depreciation expense you can claim for a car. The car limit applies to the cost of some passenger vehicles. It applies to passenger vehicles designed to carry a load less than one tonne and fewer than nine passengers. It does not apply to motorcycles or similar vehicles, or to vehicles fitted out for use by people living with a disability. Instan...t asset write-off and the car limit: The car limit is: $57,581 for the 201920 income tax year $59,136 for the 202021 income tax year. Here are some tips to help you get it right: If the car limit applies to your vehicle, you can only claim a deduction for the business portion of the car limit. To use the instant asset write-off you must have used your vehicle, or had it delivered ready for use, between 12 March and 31 December 2020. When calculating car depreciation amounts: If you're registered for GST and can claim the full GST credit, exclude the GST amount you paid on the car. If you're not registered for GST, include the GST amount you paid on the car. You can't claim the excess cost over the car limit under any other depreciation rules. Remember, We as Tax Accounting Professional can help you with your tax.

02.10.2021 Complete your Tax Return Online via Phone Call or a Video Chat with our Qualified Accountants. You get the best advice, guaranteed maximum refund, and for the limited time, you get a serious discount as well. Simply choose your appointment date and time and our accountant will call you. Use the promo code to get the discount. https://www.kashflow.com.au//tax-return-for-individua/book I get the best Tax Advice for my Youtube earning and I got more return this year. Definit...ely 5 stars from me. T.K. I used this company the first time and I must say, I am impressed. The amount of patience and knowledge they have is awesome. Michael. H Highly Recommended for your BAS, you may forget the expenses, they will not. I was amazed by the minor details they keep an eye on. Get most of my GST refund from my Rideshare work. Stephanos M. See more

18.09.2021 Get your Taxi Rideshare BAS completed with our Qualified CPA / CA Accountants. You get the best advice, guaranteed maximum refund, Simply choose your appointment date and time and our accountant will call you. Use the promo code at checkout to get the discount. https://www.kashflow.com.au//bas-submission-for-small/book Highly Recommended for your BAS, you may forget the expenses, they will not. I was amazed by the minor details they keep an eye on. Get most of my GST refund from my Rideshare work. Stephanos M.