Muntz Partners in Doubleview | Accountant

Muntz Partners

Locality: Doubleview

Phone: +61 8 9392 7600

Address: 196 Scarborough Beach Road 6018 Doubleview, WA, Australia

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

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25.01.2022 Are you a rental property owner? Check out the Australian Taxation Office's rental video series with tax tips

25.01.2022 At Muntz Partners, not only are we business and taxation advisors, we have a comprehensive support network of specialist associates available to you when you need that little bit more. Our services include: Business Essentials... Agricultural Business Specialist Service Business Improvement Property Assessment Self Managed Superannuation To find out how we can help, visit bit.ly/2XhuBvm

25.01.2022 Did you complete some extra work-related study last FY? You may be able to claim study expenses.

25.01.2022 October 31 is the tax return due date if you're lodging your tax return yourself for the previous financial year. Need a hand in getting your taxes sorted? Book an appointment with us today on (08) 9392 7600 or visit www.muntzpartners.com.au

24.01.2022 A good budget is a necessity in a successful business plan. It is one of the best business tools you can have, enabling you to set financial targets and measure your performance. Let us show you how a budget can provide feedback that helps you prepare for the future of your business! Check out bit.ly/37KrSj1 to learn more about our business improvement services.

24.01.2022 Government stimulus package Mark II Big, bold and concisely summarised Economists call it helicopter money governments sending money directly to businesses and people to stave off a recession or minimise one. And yesterdays announcement is a Black Hawk next to Mark Is gyrocopter. The government yesterday announced a second round of stimulus measures totalling $66.1 billion, following on from last weeks $105 billion RBA/government finance assistance measures, in addi...tion to 12 Marchs $17.6 billion package. This totals to $189 billion worth of measures 9.7% of GDP which include the helicopter money and a suite of other measures to cushion the worsening economic fallout from the coronavirus. The standout word in the Prime Ministers media release was this: hope. Learn about all the newly announced measures that it will include here: bit.ly/3dnzxHC

24.01.2022 Did you know that UK Pensions can still be transferred to Australia however it is now restricted to those aged 55 and over? Since 2015 there have been dramatic changes to the rules involving UK Pension Transfers from the UK. Read more about the changes and how it may affect your pension here bit.ly/2XTcIDq

24.01.2022 Are you wondering how JobKeeper will affect your income at tax time? Read on to find out what your obligations are. EMPLOYEES JobKeeper payments are treated the same as your usual salary or wages from your employer. If you receive JobKeeper as an employee, it will be included in your income statement as either salary and wages or as an allowance, depending on your circumstances. For most people this will occur by the end of July.... SOLE TRADERS If youre a sole trader who has received JobKeeper payments, you need to include the payments as business income in your individual tax return. PARTNERSHIP, TRUST OR COMPANY If your business is a partnership, trust or company, and you received JobKeeper payments, you dont need to include it as assessable income in your individual tax return but you need to report it as part of your business income. If you have any questions relating to JobKeeper and tax obligations, phone our office on (08) 9392 7600 to make a booking to speak to one of our professional advisors. www.muntzpartners.com.au

24.01.2022 Are you unsure of how to report JobKeeper via STP? The ATO has issued guidance to help employers with reporting eligible employees and JobKeeper top-up payments. You can read some tips on our blog https://bit.ly/3gT0RiM

23.01.2022 The Australian Taxation Office has prepared a handy directory for small businesses on what you can claim as deductions. Check it out here www.ato.gov.au/Tax-pro//Tax-Time-Toolkit---Small-business/

22.01.2022 Do you know your GST/FBT obligations? FBT is separate to income tax and is calculated on the taxable value of the fringe benefit. Taxation can be a major cost to your business. We will work with you to minimise your tax and help you achieve your key objectives. Book an appointment with us today for a complete service of assistance and expert advice for your business.... Visit www.muntzpartners.com.au to find out more or call us on (08) 9392 7600.

22.01.2022 ATO News Update GST and newly built homes

22.01.2022 JOBKEEPER 2.0 | On 21 July 2020, the Government announced that the JobKeeper Payment would be extended until 28 March 2021. As a result, JobKeeper will now be made over two separate extension periods. Find out more about JobKeeper 2.0 on our blog bit.ly/326pmDu

21.01.2022 The ATO has advised that from 15 May 2020, a tax agent, BAS agent or legal practitioner engaged by an appropriately appointed deceased persons legal personal representative can now be recognised as an authorised contact on a deceased persons ATO records. Read more bit.ly/31meiRn

21.01.2022 The shortcut method for claiming your working-from-home expenses (80c per work hour) has been extended until 31 December 2020!

21.01.2022 Did you know we have strategic alliances with various professional services? If you require assistance in any of the below areas, we can refer and introduce you to the right people. Business Brokers Information Technology Insolvency and Business Recovery... Financial Planning Services Simply contact us and well show you the way. www.muntzpartners.com.au/contact-us/

21.01.2022 A reminder for businesses - the JobKeeper declaration for August is due on 14th September 2020.

20.01.2022 The JobKeeper Payment, which was originally due to run until 27 September 2020, will now continue to be available to eligible businesses (including the self-employed) and not-for-profits until 28 March 2021. Read about the changes and eligibility requirements on our blog bit.ly/33t9dJD

20.01.2022 Not sure what you can claim as deductions this tax time? The ATO has created a guide specifically for office workers. Find this at www.ato.gov.au//Office-workers---income-and-work-related-/

20.01.2022 Happy 2020 EOFY from our team at Muntz Partners

18.01.2022 Treasury Laws Amendment (2020 Measures No 3) Bill 2020 has passed both Houses of Parliament and is now law. This legislation amends the income tax law to allow a business with an aggregated turnover for the income year of less than $500 million to immediately deduct the cost of a depreciating asset (instant asset write-off). To read more about the extension of instant asset write-off, click here https://bit.ly/2O0nSms

18.01.2022 Tax time doesnt have to be stressful! At Muntz Partners we offer a full range of taxation services including: Preparing activity statements and advice on tax payments GST/FBT obligations Advice on, and implementation of, tax effective trust structures for asset protection and tax minimisation... Managing any ATO audits or disputes Get in touch with us today on (08) 9392 7600 and well help sort out all your tax queries. bit.ly/2Z5yOCl

16.01.2022 In order to help you prepare for tax time, the Australian Taxation Office has introduced a temporary shortcut method to help you easily calculate your work from home expenses.

16.01.2022 The Australian Taxation Office has created tailored guides for various occupations and industries to assist with figuring out deductions. Check it out at www.ato.gov.au//I/Occupation-and-industry-specific-guides/

16.01.2022 In a decision of the Administrative Appeals Tribunal, a taxpayer was denied a deduction for $21,565.73 of work-related vehicle expenses. Read the full article here bit.ly/36sAsFI

15.01.2022 In case you missed it, the increased instant asset write-off has been extended to 31 December 2020.

15.01.2022 Keep an eye on your myGov inbox this tax time! Most of you will be receiving your income statement (previously called a payment summary) through myGov.

15.01.2022 The Australian Taxation Offices Assistant Commissioner Karen Foat talks about ways the ATO can assist you this tax time in her latest video.

15.01.2022 Preparing to lodge? Make sure your income statement is marked as tax ready before lodging. Most employers have until 31 July to finalise your income statement, but youll get a notification from the Australian Taxation Office through your myGov inbox once its ready.

14.01.2022 Tax time doesn't have to be stressful! At Muntz Partners we offer a full range of taxation services including: Preparing activity statements and advice on tax payments GST/FBT obligations Advice on, and implementation of, tax effective trust structures for asset protection and tax minimisation... Managing any ATO audits or disputes Get in touch with us today on (08) 9392 7600 and we'll help sort out all your tax queries. bit.ly/2Z5yOCl

14.01.2022 The rate of superannuation guarantee has been frozen at 9.5% of an employee’s ordinary wages since July 2014, but from 1 July 2021, it is due to incrementally increase (by 0.5% each financial year) until it ultimately reaches 12% in July 2025. Head to our blog to find out more bit.ly/3bw6Jw7

14.01.2022 The Australian Taxation Office has issued a SCAM ALERT - beware of phone calls saying you owe money and need to pay it straight away or youll be arrested. Head to www.ato.gov.au/identitycrime for more information.

14.01.2022 Rental property owners: Check out the Australian Taxation Offices brand new 2020 rental properties guide for up-to-date explanations, examples and tips to help you get your rental income and deductions right.

13.01.2022 JobKeeper Payments received by an employer are assessable income to the employer. Likewise, the payments an employer subsequently makes to an employee that are funded (in whole or in part by the JobKeeper Payment) are generally allowable deductions to the employer. Read more about tax treatment of JobKeeper Payments here bit.ly/30ANAVk

13.01.2022 Are you earning extra income through a sharing economy platform by: providing ride-sourcing services? renting out a room on a short-term basis? sharing your personal belongings? providing personal services like delivering parcels?

13.01.2022 TAX TIME Its the end of another financial year, which means getting all your books in order. Tax time doesnt have to be stressful if you are prepared and organised. Heres 3 essential tips for small to medium enterprises to assist with preparing for the 2019/20 tax return period:... Deductions and write-offs: Keep all your expenses records handy. Check any expenses that you believe may qualify for small business tax concessions including the instant asset write-off and any immediate deductions. Get your business records in order: You will need records of all income transactions including cash, online, EFTPOS, bank statements, and credit or debit card statements. Digital back up of paper records: Create and archive digital copies of your paper records for future reference. Sole traders can use the myDeductions tool on the ATO app. To book in your tax appointment with us, please call (08) 9392 7600 or visit www.muntzpartners.com.au/request-appointment/

12.01.2022 The ATO has updated PCG 2020/3 (Practical Compliance Guideline) to extend the time frame individual taxpayers can claim the COVID-19 80 cents per hour shortcut method for running expenses associated with a home office. When PCG 2020/3 was first released, the shortcut method was made available to use from 1 March 2020 until 30 June 2020. The applicable dates are now from 1 March 2020 to 30 September 2020. Find out more about the shortcut method on our blog bit.ly/2XzCqPk

12.01.2022 The Assistant Treasurer has announced that the government has deferred the commencement date of previously announced, but not yet legislated measures. This includes both Division 7A and SMSF measures. Read more bit.ly/31q6HBi

12.01.2022 A quick reminder from the ATO about claiming deductions --- If youre unsure about claiming work-related expenses, remember the three golden rules:... you must have spent the money yourself and not been reimbursed it must be directly related to earning your income you must have a record to prove it From travel and clothing to self-education and home office expenses, find more information at www.ato.gov.au//Income-and-deduc/Deductions-you-can-claim/

11.01.2022 Many lenders have recently allowed borrowers with investment property loans to defer repayments for a period of time. Read more on our blog bit.ly/3kcqPhJ

11.01.2022 Thinking of moving your accounting online? We can help you choose the right software for your business and have you up and running in no time Whether you are considering Xero, MYOB or Quickbooks, we can find the best program for your business needs.

11.01.2022 The federal government has registered the Superannuation Guarantee (Administration) Amendment (JobKeeper) Payment Regulations 2020. These regulations ensure that amounts of salary or wages that do not relate to the performance of work, and are only paid to an employee to satisfy the wage condition for getting the JobKeeper payment, are prescribed by the Regulations as excluded salary or wages. Read the full article on our blog: https://bit.ly/31MwPrH

10.01.2022 The ATO has announced some limited relief for private companies that have loans to their shareholders or related parties that are governed by what are referred to as complying loan agreements. Read the full article here: https://bit.ly/3gtUukN

10.01.2022 The Government announced various tax measures in the 2020 Budget on 6 October 2020, and it was able to secure passage of legislation containing some of the important measures very shortly afterwards. Read about the tax relief measures at bit.ly/36eZ6rH.

10.01.2022 TAX TIME | Do you need to get your 2019/20 taxes in order? Take the stress off and let us do the calculating. Book an appointment at one of our 3 offices around WA. Find our contact and location details here www.muntzpartners.com.au/contact-us

10.01.2022 The ATO understands the way some businesses operate has been impacted as a result of COVID-19. Some of these impacts may have resulted in changes that affect whether they are able to utilise their carried-forward losses in the current or a future income year. Whether a company can utilise carried-forward losses requires a consideration of its facts and circumstances. Read more on our blog bit.ly/3n9oOVp

10.01.2022 At Muntz Partners we have the expertise required to assist you in a variety of areas relating to residential and commercial property. The services we offer include: Advice on purchasing a property... Reviews of lease agreements Advice on funding Guidance in tax minimisation Advice on ownership structure Periodic reviews to ensure returns are maximised Contact us today on (08) 9392 7600 for more information on how we can assist you in the business of rental properties.

10.01.2022 JobKeeper Reminder for businesses You have until 14 October to make your declaration for payments made in September. Remember September is the last month you can claim $1,500 per JobKeeper fortnight for your eligible employees.

10.01.2022 Are you receiving JobSeeker? JobSeeker is a taxable payment and it needs to be included in your tax return. The Australian Taxation Office will automatically include JobSeeker payments in your tax return at the Australian Government allowances and payments section by early July. ... If you lodge your tax return before this information is included, you will need to include the amount of JobSeeker you received at the Australian Government allowances and payments section of your tax return. Your JobSeeker payments will be included in your Centrelink payment summary. If you have any questions relating to JobSeeker and tax obligations, phone our office on (08) 9392 7600 to make a booking to speak to one of our professional advisors. www.muntzpartners.com.au

09.01.2022 Here's a fun fact for Friday! It is said that the earliest accounting records were found over 7,000 years ago among the ruins of Ancient Mesopotamia. People wrote on clay tablets to keep records of their crops and animals. The records would show whether there was a surplus or shortage after every season. Imagine having to write out all your figures in clay tablets today! We’ve come a long way since those days!

09.01.2022 We have some exciting news! Muntz Partners has teamed up with Employsure to give you confidence in your workplace relations and health and safety practices. As a client of Muntz and Partners Chartered Accountants, you are eligible for free Contract or Safecheck review. Gain clarity and confidence around employee absenteeism, leave redundancy, dismissal and much more.... Head to bit.ly/35cYmo7 to find out more about claiming this free service!

09.01.2022 Treasury Laws Amendment (2019 Measures No 3) Bill 2019 has passed both Houses of Parliament and is now law. This legislation contains amendments to ensure the tax concessions available to minors in relation to income from a testamentary trust only apply in respect of income generated from assets of the deceased estate that are transferred to the testamentary trust (or the proceeds of the disposal or investment of those assets). Read more here: https://bit.ly/2O0SNz4

07.01.2022 ATO NEWS If you’re eligible and need to access COVID-19 early release of super, you now have until 31 December to apply in the 2020-21 financial year round.

07.01.2022 Whether you are an individual, sole trader, contractor, partnership or small to medium enterprise, we are able to provide a high level of personalised service and expertise. We develop long-term relationships with our clients, based on successful track record of partnering in developing innovative solutions to achieve business success in service, profitability and growth. Our services extend beyond tax and we can assist you with the financial aspects of your business every ...step of the way. Find out more about our services www.muntzpartners.com.au

06.01.2022 Additional recently implemented JobKeeper changes mean more employees will qualify for payments from 3 August 2020. Read about these changes on our blog bit.ly/2R0xVJN

06.01.2022 Rental deductions have changed. If you purchased a rental property after 1 July 2017, your deductions could look a little bit different this tax time. For more information on how this could apply to you, go to www.ato.gov.au//Resident/Rental-expenses-you-can-t-claim/

06.01.2022 As a result of a change to the rules governing JobKeeper, payments will stop for child care operators from 20 July 2020. This includes sole traders operating a child care service. Read more bit.ly/3ipWv2H

05.01.2022 Farming and horticulture are not like normal businesses: you need to give additional consideration to cash flow, seasonal variations, non-financial benchmarks and family. Here at Muntz Partners, we can assist and advise you with the following aspects of your farming business: Farm budgeting and cash flows... Farm sales and purchases Ownership structures Taxation planning Succession planning Capital budgeting Speak to us today on (08) 9392 7600 to see how we can assist in your agricultural business.

05.01.2022 Its tax time again! To assist with your tax preparation, you can download a free tax return checklist from our website (for both individuals and businesses): https://bit.ly/375PYpm

04.01.2022 The application of the Practical Compliance Guideline has been extended so that it now applies from 1 March 2020 until 31 December 2020. Find out more at bit.ly/32o4bwM

04.01.2022 A reminder for businesses: Its time to make your next monthly business declaration for JobKeeper payments You have from the 1st to the 14th of each month, to claim payments made to your employees in the previous month. The sooner this declaration is made, the sooner you will be reimbursed.

03.01.2022 We have become aware that some quantity surveyors are promoting tax depreciation reports that do not include a physical inspection of the property due to COVID-19 precautions. Usually, the reports are provided, with an offer to do an inspection at a later time when it is possible to do so. However, in some cases, no offer of a site inspection is made at all. Where a physical inspection of premises is not performed, this increases the risk of deductions being missed or errors being made. This could result in costly adjustments if a taxpayer has to subsequently amend their tax return or is audited. Read more on our blog https://bit.ly/2XW6wfj

01.01.2022 If the uncertainty of 2020 has awakened the entrepreneur in you and you’re looking to start your own business, we can be your right-hand finance team. With over 20 years experience helping business owners turn their ideas into reality, we’ll help guide you through legal and financial aspects of setting up a business to ensure you don’t run into any costly mistakes. Get in touch with us today to get your ideas on the road bit.ly/2Z5yOCl