Keats Accounting in Carrum Downs, Victoria, Australia | Tax preparation service

Keats Accounting

Locality: Carrum Downs, Victoria, Australia

Phone: +61 3 9770 8622

Address: 1/14 LAKEWOOD BLV 3201 Carrum Downs, VIC, Australia

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

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• Business service
• Tax preparation service
• Accountant

24.01.2022 'Keep every receipt. If you can’t claim it, we’ll let you know at tax time' Bonus tip: Thermal receipts tend to fade fast, especially when they are stored in plastic. To avoid the dreaded fade, try one of these options:... Take photos or scanned copies of your receipts and store in a directory, Photocopy receipts, or Ask the team at Keats Accounting to keep receipts on permanent record for you!

23.01.2022 Unfortunately, during the COVID-19 situation, there's been an increase in online scams and fraud. Here's some helpful information from the ATO about how to keep your identity and your data safe online.

21.01.2022 Here's a quick summary of the changes to JobKeeper: If you were working the equivalent of 20 hours a week or more during the reference periods of either February or in June, then you're entitled to the full-time JobKeeper rate. This will be cut to $1,200 each fortnight If you worked less than 20 hours a week in both reference periods then you will move to the new part-time rate of $750 each fortnight... From January 4 it will fall again the full-time rate will fall to $1,000 per fortnight, while the part-time rate will drop to $650 per fortnight.

21.01.2022 I mean, it's kind of a fair point

19.01.2022 State grants - round 3 for employers

19.01.2022 Wow, what a year! Although this year was tough, we're proud of what we achieved with your support and the support of our clients and the local business community. Here are some of the highlights: We were finalists in several categories of the Women in Finance awards Our live COVID video updates received thousands of views and most importantly helped people make sense of all the tax and money related COVID news We celebrated TEN YEARS in business... We welcomed three new staff members to our team We supported the arts after a hardcore Melbourne lock-down by having two live performances at our AWESOME Christmas party Many of our staff member juggled remote learning and working from home What have we missed here? Let us know in the comments Here's to 2020, we got through it, there were some good bits - Now onwards and (hopefully) upwards to 2021

18.01.2022 Please help us welcome Casey Wells to the Keats Accounting team Casey's a Bookkeeper She's been working in the finance industry for 20 year... Casey's not just all about numbers though, she's a spiritual person who can feel people's energies Stay tuned to our Facebook page, Casey has some EXCELLENT money tips, we'll share then with you in the new year

17.01.2022 How's 2021 treating you so far? We'll be back on Monday 11th - Which is THIS Monday coming btw - the year's flying already!

17.01.2022 REPLAY: State grants - Round 3 for employers In case you missed the live videos on Wednesday, we're republishing it with captions. If you have any questions at all, please contact us, we're here to help.... This post was originally broadcast live on Wednesday, 16th September 2020.

17.01.2022 Capital Gains Tax - A tip from our Director Sam Keats Here's a tip for property investors looking to reduce Capital Gains Tax: Keep detailed records of your investment property purchase, particularly any repairs you might do to get the property ready to rent.... People sometimes think that because these expenses are not tax deductible so there’s no point keeping records. However, they will reduce the capital gains tax later on. Examples of the types of expenses you should keep a record of include: Stamp duty Legal fees Land title fees Any initial renovations that you might do

17.01.2022 Grants - an update

16.01.2022 Yesterday the Victorian Government made their Budget 2020/21 announcement. As part of the budget they announced a stamp duty waiver of up to 50% for residential homes valued at up to $1 million. The waiver's for residential property contracts entered into from 25 November to 30 June 2021.... Newly built or "off-the-plan" homes, will be eligible for a 50% waiver. Existing homes will be eligible for a 25% waiver. Stamp duty is a government tax on that you have to pay when you buy certain things like cars and property. The amount of stamp duty payable depends on where you live, the type of transaction taking place, and its value

15.01.2022 Want to join TEAM KEATS? We're recruiting! Due to our expanding client base, we're in need of an experienced bookkeeper to work 25+ hours per week, and a full time junior/graduate accountant. Bookkeeper:... The successful applicant must have at least three years experience in an accounting or bookkeeping practice, and experience in Xero and Quickbooks. This is an intermediate/advanced role and will require you to review and oversee a portfolio of clients, including reviewing work prepared by others. Graduate: This role is a full time position, suitable for a graduate or a junior accountant with 1-2 years experience. Come and join a dynamic team with a passion for learning. Our team and our clients are incredible. To apply please send a covering letter and resume to: [email protected] and show us why you would be the perfect fit for our team Please note: We'll only be able to reply to successful applicants.

15.01.2022 Teamwork makes the dream work [cheesey we know, but still so true] We asked Jenny who's a bookkeeper here at Keats to share what she loves most about her role. Here's Jenny's answer: 'Working with nice people, in a supportive environment, variety of clients and jobs ' ... And that's why we're able to offer you, our clients, excellent customer service. When you work with one of our team members, there's a whole group of us behind them, cheering them on and providing all the support they need to help you achieve your outcomes.

14.01.2022 REPLAY - New grants for Victorian businesses In case you missed the live videos on COVID-19 grants for Sole Traders and Small Businesses yesterday, we're republishing them tonight with captions. If you have any questions at all, please contact us, we're here to help.

14.01.2022 Have you ever wondered what is considered a tax-deductible charitable donation?... Essentially for a donation to be tax-deductible it needs to be an amount of over two dollars; made to a charity that is registered on the deductible gift recipient register. So that means the organisation has applied to the tax office to be recognised as a charity that has the ability to accept donations and give people a tax deduction for them.... That organisation will supply you with a receipt, and then you can then claim that in your tax return.

14.01.2022 We are recruiting! Due to an expanding client base, we are in need of an experienced bookkeeper to work 25+ hours per week. The successful applicant must have at least 3 years experience in an accounting or bookkeeping practice, and experience in Xero and Quickbooks. This is an intermediate/advanced role and will require you to review an oversee a portfolio of clients, including reviewing work prepared by others. Come and join a dynamic team with a passion for learning. O...ur team and our clients are incredible! To apply please send a covering letter and resume to [email protected] - please note that we will only be able to reply to successful applicants.

12.01.2022 To claim a deduction for work-related expenses: You must have spent the money yourself and weren't reimbursed It must be directly related to earning your income... You must have a record to prove it Note You can only claim the work-related part of expenses. If an expense relates to both work and personal use, you must apportion use on a reasonable basis and only claim the work-related portion. If your work situation changed due to COVID-19, get in contact with us so we ensure you claim the maximum deductions you're entitled to. Source: Australian Taxation Office

11.01.2022 Here's why you need to speak to your Accountant *before* you buy an investment property

11.01.2022 REPLAY: Grants - An update In case you missed the live videos on Monday, we're republishing it with captions and a transcript. If you have any questions at all, please contact us, we're here to help.... This post was originally broadcast live on Monday, 21st September 2020. Here's the edited video transcript for your convenience: This is an update in relation to grants, from the Victorian State Government, for both employers having for sole traders. So firstly, for employees, the round three of the business support fund, was due to open on Friday. It finally came through, about five or six o'clock Friday night. So those applications are now open. I'm going to pop a link in the comments, very similar to the last one in terms of what you need, to fill in with your JobKeeper number, and those sorts of things. One new question that is tripping people up, and we have had a few emails over the weekend, is in relation to a section at the end, where it asks you to have the statutory declaration from your accountant. Now you need to read that question very carefully, because for most people it's not going to apply. This is only for people that have income of over $75,000, but are not required to be registered for GST. So if you're registered for GST, you can just skip that step and proceed as normal. It's not terribly well worded the questions. So it's easy to misunderstand what it's asking you, pretty much there were going to be very few people, that need that accountant's statutory declaration. So those applications are now open and I'll pop the link in the comments section in relation to our sole traders. Dan Andrews did say in his press conference this morning, that those grants were open. Unfortunately, that's not correct and they're not open yet. I will update you as soon as that does come through. But I do have some more information for you, in terms of the eligibility criteria. So for the $3,000 sole trader grant, you need to be a non-employing business. So not have any people on payroll. You need to have an ABN and you need to be receiving JobKeeper and you need to be in an industry, that's been heavily affected or closed, by the stage four restrictions. And you can't have received an employer grant. So those things apply. The big one that's going to trip everybody up, is there is confirmation that you do need to operate, from a premises that is not your residence. So you could be operating from shared facilities, or you could have your own commercial premises. But this grant is going to be restricted, to those people who are renting properties, for their business, outside of their home. So as I said, it's not available yet. As soon as it is, I will put some information up for you.

10.01.2022 Seems logical enough

08.01.2022 Outsourcing is common in our industry for understandable reasons (e.g. cost savings). But it's not something we engage in at Keats Accounting. Here's why: When you contact Keats Accounting, you receive continuity of service. Our team are all permanent employees who are dedicated to the firm. We hire within our local community rather than outsourcing or using contractors. ... Engaging contractors during busy seasons and outsourcing overseas doesn't align with our commitment to provide a genuinely personalised service. Please note: Outsourcing is a valid option for many businesses in and out of the accounting industry. It can be an especially helpful option for small start-up businesses and sole-traders whose business model and/or revenue simply won't allow for hiring staff. So this post definitely isn't a judgement on those who outsource.

07.01.2022 We believe in financial empowerment through education. Which is why we support the charitable organisation Hope For A Village Fiji. We sponsor two highschool students Kelerayani and Ivamere. Our sponsorship helps ensure they can go to school by providing books and school uniforms.... Keats Accounting are committed to helping others and giving back to our local and global community by supporting various community groups and charitable causes. If you would like to learn more about Hope For a Village Fiji, check out their Facebook page here: https://www.facebook.com/HopeforaVillageFiji/

06.01.2022 Happy Birthday to us 10 years in business - It's been quite the ride Here's a quick walk down memory lane with a few guest appearances from our clients. We can't quite believe it's Keats Accounting's 10 year anniversay today, and we are so looking forward to many years to come.

06.01.2022 What are your goals or plans for 2021?

05.01.2022 Buddy’s gone back to the North Pole, should we invite him back next year?

05.01.2022 Being an accounting firm we naturally have a strong focus on money. However, we recognise that time is a highly valuable (and non-renewable) resource. We look after our clients tax and bookkeeping so they can spend their time on what’s important to them.

04.01.2022 Unlike this perfect Margarita, some things just don't mix well. For example your personal and investment finances. For example, A re-draw facility can work well on your Home Loan. However, a re-draw facility on your Investment Property Loan is not a good idea, as it will dilute the interest you can claim.

04.01.2022 Which topics would you like Sam to record videos on in 2021?

03.01.2022 Guess what?... Today’s our tenth anniversary, yep, Keats Accounting has been in business for ten years Sam started Keats Accounting because she wanted to do things differently. She wanted to create a firm that approached accounting in a new way and took a truly holistic view of managing business finances. We’re proud to say that as a team, with the support of our clients and local community we’ve achieved that vision and so much more. ... Thanks to our wonderful clients for trusting team Keats with your accounting and bookkeeping. We truly do have the best clients and we appreciate you so very much. Here’s to another ten years. Oh and please pop back over to our Facebook page at 8 pm tonight, we’re premiering a little video we’ve put together with the help of some of our clients to celebrate this milestone.

02.01.2022 Before we start a new week (which probably means new updates on COVID grants) - let's wrap-up last week's updates: Last week, the Premier announced another round of funding for Victorian small businesses. Applications opened last week. Based on the information the government's released, eligibility criteria for this round of grants is going to be quite similar to the last round of State Government Grants. ... If you're an employer who's receiving JobKeeper, registered for GST, have employees and are registered with WorkCover you should be eligible. Also, your payroll needs to have been less than $10 million in the 19-20 tax year. If your payroll in the 19-20 year was less than $650,000 for all of your staff, then the round three grant for you is $10,000. If your payroll is between $650,000 and $3 million, you're looking at a grant of $1,500. And for payroll between $3 million and $10 million, the grant is $20,000. So for most people, $10,000 grants still need to be registered for WorkCover. We have an awful lot of clients and people following our page who don't employ other people and have been desperately waiting on some government assistance. The Victorian State Government also announced that $3,000 grants are going to be available to sole traders who don't employ other people. As soon as we have more information on eligibility criteria for the Sole Trader Grants, we'll let you know. If there's anything we can do to help you, please send us an email or drop a note in the comments, we'll get back to you as soon as we can