L Jack & Associates in Castle Hill, New South Wales, Australia | Tax preparation service

L Jack & Associates

Locality: Castle Hill, New South Wales, Australia

Phone: +61 2 9659 8174

Address: Suite 11, 15 Terminus Street 2154 Castle Hill, NSW, Australia

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

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• Tax preparation service
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25.01.2022 Are you a contractor or an employer in a small business who pays your employees cash in hand? . The ATO has made an important announcement that just may affect you and your business. . Click the link below to read more about these changes ... https://www.ljackassociates.com.au//cash-in-hand-payments- See more

25.01.2022 Don't forget! Get your payroll information ready now for your installment activity statement due on the 21st. We'll help you prepare for your IAS to make lodgement and payment easy and efficient. #smallbusinessadvice

24.01.2022 The Government is helping retirees to manage the impact of the fluctuations in the share market on their superannuation balances. Read our blog post below to find out further details on how this may support you https://www.ljackassociates.com.au//providing-support-for-

23.01.2022 Debt is a business risk but it is also a positive tool that is usually necessary in order to fund your growth. When debt levels grow, we can help you put a plan in place to manage it.

23.01.2022 Tax Planning for business is important. Read on for more tips for 2020. https://www.ljackassociates.com.au/bl/business-tax-planning

22.01.2022 The list of eligible businesses for this grant has been expanded. Check out the list to see you are eligible.

22.01.2022 An update on income support for sole traders & access to credit for small to medium businesses during COVID-19: https://www.ljackassociates.com.au//covid-19-business-upda

21.01.2022 ATO 2019/2020 bushfire assistance Following the devastating bushfires across large parts of Australia in the summer of 2019/2020, the ATO has offered ongoing concessions In particular, a specific helpline (1800 806 218) has been established that can be used by those impacted to seek assistance, such as to: obtain extra time to pay tax debt or lodge tax forms;... obtain assistance in finding lost TFNs; obtain re-issued income tax returns, activity statements and notices of assessment; obtain assistance in re-constructing tax records that are lost or damaged; have any refunds owed fast tracked; negotiate payment plans tailored to individual circumstances (including interest-free periods); and negotiate the remission of penalties or interest charged during the time a taxpayer has been affected. See more

20.01.2022 As the end of the tax year approaches we all think of what we can claim to minimize our tax or maximize our refund. Read below for those legitimate claims you can make. https://www.ljackassociates.com.au//year-end-tax-tips-for-

19.01.2022 SMSs for SMSFs! In line with the ATOs focus on ensuring peoples super remains secure it has announced it will send out an email and/or a text message via an SMS when changes are made to the details of an SMSF. These details will include updates to the SMSF financial details, member information, bank details for refunds and other items as deemed applicable. Accordingly, the ATO has urged all SMSF members to ensure they update their contact details either: online at abr.g...ov.au (with an AUSkey or an ABN linked to their myGov account, or alternatively with myGovID); through their registered tax agent; by phoning 13 10 20 (for authorised contacts of the relevant SMSF); or by lodging the paper form (NAT 3036). SMSF members who are concerned about notified changes are encouraged to first speak with the other trustees of the SMSF or the authorised agent of their SMSF, before contacting the ATO. This action will ensure details are kept up to date without unnecessary duplications. In our world of digital communications you are reminded that the ATO never requests you to reply by email or SMS and do not request that you provide personal information to them via this means. If you are concerned regarding the authenticity of any SMS or email from the ATO please contact your registered tax agent, who is able to view a comprehensive list of communication issued by the ATO to each taxpayer. See more

16.01.2022 Do you have employees you want to keep but no work for them & no funds to pay them? The Job Keeper allowance may be of assistance to you. Click the link below to keep up to date with how the Job Keeper allowance may be applicable to you ... https://www.ljackassociates.com.au//job-keeper-payment---o

16.01.2022 The Government recently tabled legislation, in a second attempt to deny access to the CGT main residence exemption for individuals who are foreign residents (i.e., non-resident taxpayers for Australian tax purposes). The restrictions to this CGT exemption will apply to taxpayers who are a non-resident at the time of the relevant CGT event (i.e., generally as at the contract date). If enacted, the proposed changes will potentially impact foreign residents in the two ways outl...ined below. Transitional rules for properties held before 7:30pm (AEST) on 9 May 2017 Firstly, for properties held prior to the 2017 Federal Budget (i.e., before 7:30pm AEST on 9 May 2017 which is the date of the original announcement of this proposal), the CGT main residence exemption will only be able to be claimed, for a non-resident, for disposals that occur up until 30 June 2020. This relates to both partial and full main residence exemptions. For disposals of properties occurring on or after 1 July 2020, foreign residents will have no access to the CGT main residence exemption (both full and partial), unless specified life events occur within a continuous period of six years of the taxpayer becoming a foreign resident. These life events include: The terminal illness of the taxpayer, their spouse or a child under the age of 18 years. The death of a spouse or child under the age of 18. A transfer of the relevant asset as a result of a divorce, separation or similar maintenance agreement. The property will be taxed as subject to capital gains tax from its first acquisition regardless of use. Properties acquired at or after 7:30pm (AEST) 9 May 2017 Secondly, for properties acquired at or after the 2017 Budget night, the CGT main residence exemption will no longer be available for non-resident taxpayers, unless the same specified life events (as outlined above) occur within a continuous period of six years of the taxpayer becoming a foreign resident. Foreign Residency The rules for establishing whether a foreign resident or note have been challenging in the Australian Tax Environment. In a realisation that it is more important than ever to have some clarity regarding these rules the Board of Taxation has released its preferred model to simplify and modernise the rules.

16.01.2022 The Federal Budget, announced on Tuesday 6th October, focuses heavily on job creation in order to pull the country out of the economic crisis it faces. Talk to us about the impacts on you and your business.

15.01.2022 Throwing a remote party for your staff this year? We can tell you what claim when you give gifts and provide food and entertainment at a party. Tax rules still apply to remote parties! Start planning now to celebrate the year.

14.01.2022 With more than 85% of SMEs expecting a lower profit in the next nine months, the more prepared you can be for the unexpected, the better. Talk to us about smart ways to get your costs under control or whether you need to increase your prices.

14.01.2022 Making time to look over your financial reports each month is an important task for any business owner. We can give you an overview of what reports you'll need to help you build a thriving business.

12.01.2022 The difference Single Touch Payroll makes for the employee

11.01.2022 Single Touch Payroll (STP) and Superannuation Guarantee At the Australian Institute of Superannuation Trustees Chairs Forum, the ATOs Deputy Commissioner of Taxation has confirmed that as a result of STP, the ATO now has an "unprecedented level of visibility" of super information. ... In particular, the ATO can data match the SGC superannuation contribution due to be made by employers for each employee to the actual contribution paid. The data matching is such that the ATO has noted that in the first three quarters of 2019 (for approximately 400,000 employers) 90 - 92% of contribution transactions by volume and 85 - 90% of transactions by dollar value were paid on time. The ATO is now starting to actively use this data to warn employers who appear not to be paying the required SGC on time (or at all). There were 2,500 employers notified that they had paid the SGC contributions late during 2019 and 4,000 employers were sent due-date reminders. It is anticipated with the extension of the STP system to small employers that this number will increase. Employers should now be vigilant in setting up systems that ensure SGC payments are made on or before the due date (28 days after the end of the quarter). It is expected that the ATO will increase SGC audits and resultant penalties as more data becomes available.

09.01.2022 If you are considering purchasing your first home there are a number of Homeowner Grants and Concessions that have been made available since early 2020. Follow the link to find out more. https://www.ljackassociates.com.au//thinking-about-buying-

09.01.2022 The company Christmas party doesn’t have to be a massive bash or a boring, box-ticking exercise. This article has lots of tips to ensure the Xmas is fun as well as being healthy and respectful.

09.01.2022 Review your superannuation reports now for your quarterly superannuation guarantee contribution, which is due soon. We can help with your super set-up and prepare the SG contribution and SuperStream lodgement. #tax #smallbusiness

08.01.2022 Looking for assistance with your Tax Return or Financial Statements? Contact our team of friendly professional staff for personalised service.

04.01.2022 Not sure what an accountant can do for your business? Well, the right accountant will do a lot more than just help with your tax returns! Your accountant should be a trusted business advisor, helping you lead with more confidence. #SmallBusiness

02.01.2022 As we approach the end of another financial year there are some housekeeping matters to be attended to for your Self Managed Superannuation Fund. See more at.... https://www.ljackassociates.com.au/bl/year-end-smsf-matters

01.01.2022 We all know having a #PersonalBudget will improve our finances, but there are other unexpected benefits of budgeting. From improved communication to more effective personal goal setting, we can help you reap the rewards of personal budgeting.