Maximize Accountants in Rocklea, Queensland, Australia | Tax preparation service

Maximize Accountants

Locality: Rocklea, Queensland, Australia

Phone: +61 7 3349 9919

Address: 10 Beatty Road 4106 Rocklea, QLD, Australia

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

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25.01.2022 Small Business updates for February month by Australian Taxation office. If you need more information, please call us on 07 3349 9919.

24.01.2022 JobMaker Hiring Credit for Employer If you need more information or take the above opportunity , please contact MAXIMIZE ACCOUNTANTS ON 07-3349 9919

24.01.2022 How to get your $1080 tax refund after Morrison Government passes tax package Most Aussies get can up to $1080 in tax refunds this year with more lump sums to come in future years. This is how to get the money. The Morrison Government has managed to pass its full package of tax cuts, meaning many Australians will get up to $1080 back this year.... In fact this won’t be the only year you’ll get a refund. It sounds too good to be true, but this is how it works. YOU’RE GETTING YOUR OWN MONEY BACK The money is basically tax you’ve paid throughout the 2018/19 financial year that is being refunded to you because the Government has increased the low and middle income tax offset from $530 to $1080. This means you have to lodge a tax return for 2018/19 in order to receive the money. If you have already lodged a tax return, the Australian Taxation Office will automatically process a refund for you. The new laws were designed to apply to the previous financial year even though they were passed after July 1. HOW MUCH WILL YOU GET? The maximum offset of $1080 will be available to taxpayers with taxable incomes of between $48,000 and $90,000. The offset is calculated on each person’s individual income not household income. Those who earned less than $37,000 will get $255 back. This gradually increases to $1080 for those earning $48,000. Anyone earning between $90,000 and $126,000 will get lower amounts. Those earning over $126,000 won’t receive any refund. You can figure out an approximate amount using the tax relief estimator on the Australian Government’s Budget 2019/20 site, as the Government already flagged the changes last year. However, the estimator may return a higher amount as it includes the benefit from a previous change included in the 2018/19 Budget as well as those in the 2019/20 Budget. This change saw an increase to the 32.5 per cent tax bracket threshold from $87,000 to $90,000 (which people would already have seen reflected in their pay packets from July 1, 2018).

20.01.2022 Federal Budget WINNERS 2019 Wage and salary earners The Treasurer announced A$158 billion in personal income tax cuts through more than doubling the low and middle-income tax offset from 2018/19.... This will benefit more than 10 million people earning up to A$126,000 a year. From July 2024, Frydenberg says the government will cut the 32.5 per cent marginal tax rate to 30 per cent, applying to all taxpayers earning between A$45,000 and A$200,000. He says the top 5 per cent of taxpayers will pay one third of all income tax collected. Business The instant asset write-off will be extended to June 2020 and increased from A$25,000 to A$30,000. The write-off allows small business with a turnover of less than A$10 million to claim an immediate deduction for a purchase below that amount but will be expanded to businesses with turnover of up to A$50 million, or another 22,000 businesses. Businesses will also be able to claim the deduction every time they make a purchase under the cap. The write-off remains an annual deduction. CPA Australia has called for the write-off to be made permanent rather than extended budget to budget, to give business owners greater certainty when planning. The government will defer to July 2020 the start date of the proposed amendment to Division 7A of the Tax Act, to allow further consultation.

19.01.2022 Job Keeper Application Process Key dates 1. From 20 April: complete Step 1: Enrol for the JobKeeper payment.... From 4 May: complete Step 2: Identify your eligible employees and eligible sole trader or eligible business participant. By 8 May: you must have paid your eligible employees at least $1,500 (before tax) for each JobKeeper fortnight to claim JobKeeper payments for April. By 31 May: you must have completed Steps 1 and 2 if you want to claim for JobKeeper fortnights in April and May. After May: If you are enrolling and identifying your employees and business participant for the first time after May, you must complete Steps 1 and 2 in the month you wish to claim for. By 14 June: complete Step 3: Make a business monthly declaration for May. By the 14th of each month: complete Step 3: Make a business monthly declaration to claim JobKeeper payments for the previous month. You should also make any updates to your employees' eligibility using the 'Maintain' #jobkeeper #maximizeaccountants

18.01.2022 If your company or organisation requires high quality Superannuation compliance services then call Maximize Accountants Brisbane for a no obligation appointment where we will asses the extent of your needs and provide a full analysis of the options available within your budget.

14.01.2022 Are you aware of the latest changes to Superannuation Laws? Read more here and stay up to date or call our office for more information.

13.01.2022 Maximize Accountants Sports Team

07.01.2022 Maximize Accountants is now on Facebook!

07.01.2022 Call Maximize Accountants on 07 3349 9919 for all Individual and Small Business accounting and taxation needs.

05.01.2022 Maximize Accountants Newsletter ATO lodgement February Month 2019 21 February * Lodge and pay December 2018 monthly business activity statement for business clients with up to $10 million turnover who report GST monthly and lodge electronically. ... * Lodge and pay January 2019 monthly business activity statement. 28 February * Lodge tax return for non-taxable large/medium entities as per the latest year lodged (except individuals). Payment (if required) for companies and super funds is also due on this date. Payment for trusts in this category is due as per their notice of assessment. *Lodge tax returns for new registrant (taxable and non-taxable) large/medium entities (except individuals). Payment (if required) for companies and super funds is also due on this date. Payment for trusts in this category is due as per their notice of assessment. * Lodge tax return for non-taxable head company of a consolidated group, including a new registrant, that has a member who has been deemed a large/medium entity in the latest year lodged. Lodge tax return for any member of a consolidated group who exits the consolidated group for any period during the year of income. * Lodge tax return for large/medium new registrant (non-taxable) head company of a consolidated group. * Lodge and pay Self-managed superannuation fund annual return (NAT 71226) for new registrant (taxable and non-taxable) SMSF, unless they have been advised of a 31 October 2018 due date at finalisation of a review of the SMSF at registration. Note: There are special arrangements for newly registered SMSFs that do not have to lodge a return see Super lodgment. * Lodge and pay quarter 2, 201819 activity statement for all lodgment methods. Pay quarter 2, 201819 instalment notice (form R, S or T). Lodge the notice only if you vary the instalment amount. Annual GST return lodge (and pay if applicable) if the taxpayer does not have a tax return lodgment obligation. If the taxpayer does have a tax return obligation, this return must be lodged by the due date of the tax return. * Lodge and pay quarter 2, 201819 Superannuation guarantee charge statement - quarterly if the employer did not pay enough contributions on time. Employers lodging a Superannuation guarantee charge statement - quarterly can choose to offset contributions they paid late to a fund against their super guarantee charge for the quarter. They still have to pay the remaining super guarantee charge.

04.01.2022 Personal Income Tax Plan The Government's Personal Income Tax Plan, as announced in the 2018-19 Federal budget, has been passed External Link by Parliament. There will be:...Continue reading

02.01.2022 At Maximize Accountants our highly skilled team is constantly updated with the current Australian taxation laws. Click here for a free consultation. #maximizeaccountants http://maximizeaccountants.com.au/taxation-and-audit/