North Coast Accounting in Wanneroo | Accountant

North Coast Accounting

Locality: Wanneroo

Phone: +61 8 9306 8888

Address: Suite 6, 939 Wanneroo Road 6065 Wanneroo, WA, Australia

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

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• Tax preparation service
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16.01.2022 Home Builder Grant Home Builder is a tax-free grant program initiated by the Federal Government to stimulate the residential construction sector in response to the economic downturn caused by COVID-19. It will provide eligible applicants with a $25,000 grant to help build a new home or renovate an existing home.... Home Builder will assist the residential construction market by encouraging the commencement of new home builds and renovations this year. More details on below link: https://treasury.gov.au/coronavirus/homebuilder

06.01.2022 Federal Budget 2020 overview of taxation measures announced. Contact the office for any further questions. Personal Income Tax Measures: The following tax cuts will take effect from 1 July 2020:... >the top threshold of the 19% personal income tax bracket will increase from $37,000 to $45,000. >the low-income tax offset (LITO) will increase from $445 to $700. the top threshold of the 32.5% personal income tax bracket will increase from $90,000 to $120,000. >The Government will also provide a one-off additional benefit from the low to middle-income tax offset in 2020-21. Business Tax Incentives: >Temporary full expensing From 7:30 pm (AEDT) on 6 October 2020 until 30 June 2022, businesses with an aggregated annual turnover of up to $5 billion will be able to deduct the full cost of eligible depreciable assets of any value in the year they are first used or installed ready for use. The cost of improvements made during this period to existing eligible depreciable assets can also be fully deducted. >Temporary loss carry-back to support cash flow The Government will allow companies with an aggregated turnover of less than $5 billion to offset tax losses against previous profits on which tax has been paid, to generate a refund. Eligible companies can carry back tax losses from the 2019-20, 2020-21 and/or 2021-22 income years to offset previously taxed profits in 2018-19 or later income years. >Increase the small business entity turnover threshold The Government will expand access to a range of small business tax concessions for small to medium businesses by lifting the aggregated annual turnover threshold from $10 million to $50 million. >JobMaker Hiring Credit The Government will provide financial support to employers to take on additional employees through a hiring credit. Eligible employers who can demonstrate that the new employee will increase overall employee headcount and payroll will receive $200 per week if they hire an eligible employee aged 16 to 29 years, or $100 per week if they hire an eligible employee aged 30 to 35 years. >Fringe benefits tax The Government will introduce an exemption for employer-provided retraining and reskilling benefits provided to redundant, or soon to be redundant employees, where the benefits may not be related to their current employment. Research and Development Tax Incentive The Government will enhance previously announced reforms to support business investment in Australia.

02.01.2022 North Coast Accounting Tax Time Reminder - https://mailchi.mp//north-coast-accounting-tax-time-remind