Lotus Smart in Mulgrave, Victoria | Business service

Lotus Smart

Locality: Mulgrave, Victoria

Phone: +61 426 267 484

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• Business service
• Tax preparation service
• Accountant
• Business consultant

25.01.2022 Have you started a new business in the last 12 months? To check if you meet the fall in turnover test & are eligible for the JobKeeper payment, you can either: ... - average your turnover over the number of months youve been operating, or - use your last three months of turnover. For more information on the alternative turnover test, visit https://www.ato.gov.au//In-de/Applying-the-turnover-test/

24.01.2022 Business owners can focus on strategy and growth rather than spending a lot of personal time worrying about day-to-day finance issues. Fortunately, Lotus Smart offers reliable business tax advice and assistance.

23.01.2022 We can customise and tailor your service to suite your individual needs. We can assist you with online business accounting that will make your business much more efficient.

21.01.2022 Are you a doctor or other medical professionals?? You can claim the following expenses: - Car Expenses - Clothing Expenses - Travel Expenses - Self-education Expenses... - Other common deductible work-related expenses Remember: To claim a deduction for expenses that relate to your work: -You must have spent the money yourself and werent reimbursed -It must be directly related to earning your income -You must have a record to prove it. Click below link to know more about the deductions you can claim! http://bit.ly/HereAreSomeDeductionsYouCanClaim #lotussmartaustralia #lotussmart #expenses

20.01.2022 Tax Services we offer: Preparation of tax returns Income tax on rental property Strategic tax planning... Advice on Goods and services tax Preparation of BAS and IAS Advice on capital gains tax Advice on salary sacrifice Payroll tax Stamp duty and land tax See more

20.01.2022 If you’re asking yourself who can provide the best tax planning strategy near me at an affordable cost?, you can find the answer at Lotus Smart. Backed by years of expertise and experience, our taxation, accounting and business advisory specialist has developed excellent tax optimization tools which allow us to accurately project your income taking a range of factors into account. We can recommend a strategy which consists of a series of measures you can undertake to save on tax within the scope of income tax legislations and guidelines from the Australian Taxation Office.

20.01.2022 Calling all Small Business Owners! Are you in need of someone you can trust to help you with your tax this year? The experienced agents at Lotus Smart are here to help. Get in touch with us today to learn more about our services.

19.01.2022 Whether you are planning to start a new business or you have an existing one, Lotus Smart is here to take care of your complete accounting and compliance needs. We are not an average accounting firm. We work closely with you to develop strategies to minimize the cost and maximize the profit of your business. We provide service for:... Individual Corporate Partnerships Trusts Call us today on 03 9561 9922 OR Email us at [email protected]. . . . #lotussmart #lotussmartaustralia #OwnBusiness

18.01.2022 Coronavirus Update: Prime Minister Scott Morrison explaining how the new wage guarantee will work for those who have lost income. Latest News: https://7news.link/39W78q7 #7NEWS

18.01.2022 The area of self managed superannuation funds (SMSF) is ever changing and its rapidly growing every year. We provide complete accounting and taxation services for your Self Manged Super Fund.

17.01.2022 Whether you are buying an existing business, buying a franchisee or starting from the scratch, we can guide you through the steps in starting your new business.

17.01.2022 Our property accountants offer the following services for property developers: -GST, capital gains and income tax advice -Project feasibility -Cost control and management of cash flows -Risk management... -Business strategy -Construction loan and other means of capital raising -Business structure and governance -Asset protection See more

17.01.2022 We can assist with the following areas: -Residential home loan -Refinancing -Debt consolidation -Investment home loan... -Motor Vehicle and Equipment Finance -SMSF loan See more

16.01.2022 The due date for the personal tax return is 31st October. However, you will get additional time if lodged through a registered tax agent. With Lotus Smart, you can use a registered tax agent to prepare and lodge your tax return. You can also keep track of general, work-related incomes and deductions in one place plus sharing and organizing of your tax records with your tax agent also becomes an ease. ... Call us today on 03 9561 9922 OR Email us at [email protected] . . . #lotussmart #lotussmartaustralia #TaxAgent #IndividualTaxReturn

16.01.2022 If you are an IT Professional, you can claim the following expenses: - Car Expenses - Home office expenses - Self-education Expenses - Clothing expenses... - Other common deductible work-related expenses Remember: To claim a deduction for expenses that relate to your work: - You must have spent the money yourself and werent reimbursed - It must be directly related to earning your income - You must have a record to prove it. Please note that you can only claim the work-related part of expenses. You cant claim a deduction for any part of the expense that relates to personal use. We at Lotus Smart provide expert accounting and taxation advice to both individuals and businesses. Our Services: Cloud Accounting, Property Accountant, Business Accounting, Tax Services. Call us today on 03 9561 9922 or email us at [email protected]. #lotussmartaustralia #lotussmart #expenses

15.01.2022 May this Diwali bring in lots of joy & happiness in your life.

14.01.2022 From end of year tax planning and retirement tax strategies through to high net worth tax strategies and more, there’s nothing we can’t help you with.

13.01.2022 Superannuation guarantee (SG) provides income for your workers in their retirement. Key highlights of the superannuation guarantee (SG) contribution: - The SG is currently 9.5% of an employees ordinary time earnings. - You must pay the SG at least four times a year, by the quarterly due dates.... - Your super payments must go to a complying super fund - If you dont pay the SG on time, you may have to pay the SG charge. Our team is highly experienced and can provide detailed professional advice on super and tax obligations. Contact us to Get your SG payments right with us. 03 9561 9922 [email protected] http://www.lotussmart.com.au/

13.01.2022 Over the period of years, we have developed tools and expertise to project your income and expenses based on your current financial circumstance and recommend a series of measures that you can undertake to minimize the tax liability within the scope of income tax legislation and ATOs guidelines.

13.01.2022 ATO will be tough where you have applied for COVID-19 early super release without being eligible to do so. The super amount you have withdrawn will be taxed and you could face penalties of more than $12,000 for each false and misleading statement. The ATO have a variety of data sources that allow them to check for claims that were made incorrectly. This includes:... - Single Touch Payroll (STP) -income tax returns -information reported to us by your super fund -third party data from agencies including Services Australia Home Affairs. https://www.ato.gov.au//COVID-19-Early-release-of-super--/

12.01.2022 Australian government announced a stimulus package on 12th March 2020 in response to the economic downturn due to the spread of COVID-19. We have broken down the stimulus package to help you understand and prepare for what to expect. There are four main points to be taken from the newly introduced package. 1. Increased instant write-off threshold... The instant write-off threshold has been increased from $30,000 to $150,000 for assets purchased between 12th March 2020 to 30 June 2020. This applies to business with annual turnover up to $500 million. What does it mean to you? - If you buy an asset worth $30,000 to $150,000 between 12th March to 30th June 2020, new or second-hand assets or ready to use in this timeframe. You will be eligible to claim the full amount in the tax return. When can you claim? - This can be claimed in your business tax return to reduce your income. 2. For asset more than $150,000 A deduction of 50% of the cost of the eligible asset (only new assets that can be depreciated) purchased between 12th March 2020 to 30 June 2021. What does it mean to you? - If you buy an asset worth more than $150,000. You will be eligible to claim the 50% amount in the tax return as depreciation. When can you claim? - This can be claimed in your business tax return to reduce your income. 3. Boosting cash flow for employers Payment of cash flow support from $2,000 up to $25,000 to businesses who employ staff and report PAYG withholding in their activity statement for business with turnover less than $50 million in the prior year. What does it mean to you? - You will receive a payment equal to 50% of the amount withheld, up to a maximum of $25,000 when you lodge your next activity statement. This will be applied for a limited number of activity statements. Business under the threshold turnover and pay salary and wages will receive minimum of $2,000, even if they are not required to withhold tax When can you claim? - Upon lodgement of next activity statement. The payment will be delivered as a credit in the activity statement. 4. Supporting apprentices and trainees If you employ an apprentice or trainee you may be eligible for a wage subsidy of 50% of their wages paid. What does it mean to you? - If you employ less than 20 full-time employees who retain an apprentice or trainee, you will be eligible to receive 50% of wages that you pay from 1 January 2020 to 30 September 2020. When can you claim? - Employers can register for the subsidy from early April 2020. Final claims for the payment must be lodged by 31 December 2020. More information can be found by following the links: 1. Business.gov.au 2. Australian Taxation OfficeA

12.01.2022 Dont let your hard earned dollars go to waste. Only pay what you have to with our tax services. We make sure your legal obligations are fulfilled and also that your individual circumstances are covered.

11.01.2022 Contact us to get more information on how to apply for JobKeeper payments. #jobkeeperpayments

10.01.2022 A professional bookkeeper can organise, maintain and simplify the financial records of your business on a day-to-day basis. This helps you to focus more of your time and energy on growing the business.

08.01.2022 Temporary resident visa holders are not eligible to apply for COVID-19 early release of super after 30 June 2020. https://www.ato.gov.au///Early-release-of-super-integrity/

08.01.2022 Supporting someone through difficult times is Australian way of life.If you or your business is facing financial hardship, dont hesitate to speak to your landlord and ask if they are willing to waive or defer the full or at least a portion of rent for the next couple of months. This may ease your financial pressure while the Australian economy is in hibernation phase. Your landlord will extend his/her helping hands if he/she is in the position to do so. https://www.afr.com//rent-free-deals-have-started-and-they

07.01.2022 An example of proactive business response to COVID-19 challenges. A food truck that pulls up outside your house and cooks your pre-ordered lunch or dinner on the spot. https://www.afr.com//the-restaurant-that-turns-up-at-your-

07.01.2022 If you earn as a cleaner, you can claim the following expenses: - Car expenses - Clothing expenses - Meal expenses - Tools and equipment expenses... - Other common deductible work-related expenses Remember: To claim a deduction for expenses that relate to your work: You must have spent the money yourself and werent reimbursed It must be directly related to earning your income you must have a record to prove it Please note that you can only claim the work-related part of expenses. You cant claim a deduction for any part of the expense that relates to personal use. Learn More: http://bit.ly/TaxDeductionsforCleaners We at Lotus Smart provide expert accounting and taxation advice to both individuals and businesses. Our Services: Cloud Accounting, Property Accountant, Business Accounting, Tax Services. Call us today on 03 9561 9922 or email us at [email protected]. #lotussmartaustralia #lotussmart #expenses

06.01.2022 Think about your insurance needs before you access money in your super fund. https://www.mybusiness.com.au//6773-exercise-caution-if-ac

06.01.2022 Working in the cloud will give you a better overview of finance and improve collaboration with your team. We have partnered with a number of cloud accounting providers including Quick books, Xero and MYOB. Online accounting opens up a world of opportunities to increase efficiency, streamline the way you manage your business, and helps you work smart. We can assist you with online business accounting that will make your business much more efficient. ... Call us today on 03 9561 9922 or email us at [email protected] to arrange an obligation-free meeting to discuss your business and personal requirements. #lotussmart #worksmart

06.01.2022 Lotus Smart is looking for a Graduate Accountant https://www.seek.com.au/job/40746191

05.01.2022 Check your super balance on a regular basis as you may be one more victim of scammers. https://www.abc.net.au//scammers-stealing-thousan/12301010

04.01.2022 The Commissioner has extended the time to enrol for the initial JobKeeper periods, from 30 April 2020 until 31 May 2020. https://www.ato.gov.au/General/JobKeeper-Payment/ The Job Keeper payment is a @130 billion stimulus packages announced by Australian government to support businesses and their employees affected by COVID-19.... We know there has been confusion around who is and isnt eligible, how you can apply, and what are the reporting obligations. Contact us today if you need to know that the job keeper means for your business.

04.01.2022 COVID-19 forced millions of people work from home.The ATO has introduced short cut method to claim home office expenses for the post COVID period. This method provides a rate of 80 cents per hour and will only require you to keep a record of the number of hours worked from home. If you are working in jobs that require physical contact or close proximity with customers or clients you may be able to claim a deduction for items such as gloves, face masks, sanitizer or anti-bacte...rial spray if you have paid for the items and not been reimbursed. This requires you to keep records of expenses not only till the tax time, but for at least 5 years from the date you lodge the tax return. Many taxpayers loose the benefits of genuine claim as they fail to keep the receipts or maintain necessary records( E.g diary notes/log book for motor vehicle expenses). You wont be able to claim any work related deductions automatically without keeping necessary records. https://au.finance.yahoo.com//normal-financial-sees-10-bil

03.01.2022 Australian government announced wage subsidy of $1,500 per fortnight to help employers keep employees in job. #JobKeeperPayment Contact us at 03 9561 9922 or contact Rajesh Acharya to get more information on the eligibility criteria. If you have any questions or need to contact us you can drop an email at [email protected] or drop a message here in Facebook. We continue to provide services remotely and online.

03.01.2022 From Lotus Smart Team, we wish you a happy Easter holidays.

03.01.2022 If you earn as a teacher or education professional, you can claim the following expenses: - Car expenses - Clothing expenses - Home office expenses - Self-education expenses... - Other common deductible work-related expenses Remember: To claim a deduction for expenses that relate to your work: You must have spent the money yourself and werent reimbursed It must be directly related to earning your income You must have a record to prove it Please note that you can only claim the work-related part of expenses. You cant claim a deduction for any part of the expense that relates to personal use. Learn More: http://bit.ly/TeachersAndEducationalProfessionals We at Lotus Smart provide expert accounting and taxation advice to both individuals and businesses. Our Services: Cloud Accounting, Property Accountant, Business Accounting, Tax Services. Call us today on 03 9561 9922 or email us at [email protected]. #lotussmartaustralia #expenses

03.01.2022 If you are a retail industry worker, you can claim the following expenses: - Car Expenses - Clothing Expenses - Meal Expenses - Self-education expenses... - Personal Grooming - Other common deductions Remember: To claim a deduction for expenses that relate to your work: You must have spent the money yourself and werent reimbursed It must be directly related to earning your income you must have a record to prove it Please note that you can only claim the work-related part of expenses. You cant claim a deduction for any part of the expense that relates to personal use. Learn More: http://bit.ly/RetailIndustryWorker We at Lotus Smart, provide expert accounting and taxation advice to both individuals and businesses. Our Services: Cloud Accounting, Property Accountant, Business Accounting, Tax Services. Call us today on 03 9561 9922 or email us at [email protected]. #lotussmartaustralia #lotussmart #expenses

02.01.2022 Whether you are planning to start a new business or you have an existing one, Lotus Smart Business Accountants take care of your complete accounting and compliance needs.

02.01.2022 Lotus Smart provides personalized and professional tax services such that you only pay what you have to from your hard earned dollars. We make sure that your legal obligations and your individual circumstances are covered. We have experienced, vibrant and professional expertise to emphasize and understand expert accounting and taxation.... With strategic tax planning projection and the help of developed tools and expertise, we accurately compute all types of tax. Get Your Taxes Done Today! Call us today on 03 9561 9922 or email us at [email protected].

01.01.2022 In the light of coronavirus pandemic, our office premises is closed but we are working remotely and delivering usual services online. You can stay connected to us by calling us in our office number at 03 9561 9922 or email us at [email protected]