Nexzen Accounting | Business consultant

Nexzen Accounting

Phone: +61 416 105 888

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25.01.2022 New Zealanders working in Australia may be eligible for a $1,500 per fortnight JobKeeper Wage Subsidy. Enrollments start from 20th April. Contact NexZen Accounting today to find out how?

25.01.2022 NexZen Accounting is Covid SAFE...Are you?

24.01.2022 ATO has extended the date for job- keeper enrollments.. you still have time till 8th May. Contact us if you are still not sure about eligibility.

24.01.2022 Do you know you can receive personal services income (PSI) in almost any industry, trade or profession? Whether you’re a dentist, consultant or contractor, you can receive PSI when more than half of your payment for a contract or job was for your: labour skills, or expertise... PSI can affect how you report your income to ATO and limit the deductions you can claim. Find out more at www.ato.gov.au/Business/Personal-services-income/ See more

24.01.2022 We Salute all our Frontliners! Thank you for your Service & Sacrifice during this difficult time. YOU ARE OUR HEROES

24.01.2022 Are you a sole trader, in a partnership, trust, or company, and wondering how the JobKeeper payment can help you? Call NexZen Accounting on 0416105888 to find out.

24.01.2022 Business owners: Did you know that if your business’ expenses have been greater than your income, you may be able to claim a loss? You can generally carry forward a loss and claim a deduction for your business in a future year, or you may be able to offset current year losses. Assistant Commissioner Andrew Watson explains what you may need to consider this tax time - watch this video and learn more at www.ato.gov.au//Income-and-deductions-for-business/Losses/

23.01.2022 Centrelink supplement on COVID 19 What is it-? Coronavirus supplement is an additional top-up Payment for people on welfare... How much $? Its $550 a fortnight means $275 a week, and for people on Newstart allowance would be double. Eligible People? i) Newstart, Sickness, youth allowance ii) Parenting and partner allowance iii) Farm household allowance iv) Small business owners and casual workers will be eligible for this payment as well if they find themselves earning less than $1075 a fortnight When will it start? Payments will begin on 27th April for at least the next 6 months What do you need to do? If you are already on the above-mentioned welfare Payments, you don’t have to do anything to claim it. And if you are not on any welfare payment, you need to apply online at MyGov using a Centrelink account Click on the below link for the full article. https://www.abc.net.au//coronavirus-supplement-pa/12080326

23.01.2022 We are going to the Franchising Expo 1-2 June as an exhibitor.

23.01.2022 Having a drink with exhibitors after our 1st day... Saturday @ Francise Expo. We got about 80 people filling out an expression of interest in a NexZen Accounting Franchise... Or wanting to be a client.... The experts said that was an awesome result... looking forward to Sunday. #franchisingexpo @franchisingexpo

20.01.2022 With COVID-19 restrictions lifting and gyms, pubs and cafes reopening, you might be wondering whether increases in your GST turnover will affect your JobKeeper payment eligibility Here's the good news - once you're in, you're in! Please click on below link for more info-

20.01.2022 NexZen Franchise! https://www.franchisebusiness.com.au/nexzen-accounting-lau/

18.01.2022 All set up and ready

18.01.2022 The Federal Government has announced (as part of its Coronavirus Stimulus Package) the introduction of a new JobKeeper Payment to assist eligible employers & self-employed individuals who have been impacted by the Coronavirus pandemic to continue to pay their workers. For more info, please click on the below

17.01.2022 Small employers: Have you finalised your STP records? If you have 19 or fewer employees, the deadline for making a finalisation declaration through your Single Touch Payroll solution is 31 July. It’s easy to do and ensures your employees can lodge their tax returns accurately and on time. Find out more at www.ato.gov.au//Star/End-of-year-finalisation-through-STP/

15.01.2022 Prime Minister Scott Morrison has announced new rental waivers and deferrals for commercial tenants hit by the impact of the coronavirus crisis. For more info, click on below link: https://www.abc.net.au//scott-morrison-commercial/12129178

15.01.2022 Let's claim your Job-keeper Payment from ATO Now the time has come that we could apply for the relief packages announced by the Government and try to stay afloat & get to the other end of Covid-19 Pandemic. We have prepared a list of activities (not exhaustive) that we would be doing if you nominate NexZen Accounting to act on your behalf.... 1.Advice on Employer’s Eligibility for PAYG Tax Refund 2.Advice on Employer’s Eligibility for JobKeeper Payment 3.Advice on All of your Employees' Eligibility for JobKeeper Payment 4.Set up & Review your PayRuns for next 6 months to make sure they Comply with Job Keeper Scheme Requirement 5.Making sure the Superannuation is recorded correctly on the payments. 6.Advice on Employees payment disbursement for next 6 months. 7.Calculate the Current Turnover Decline & your Projected forecast for the month & for next 6 months. 8.Enroll your Business with ATO for Job Keeper payment from 20 April 2020. 9.Co-ordinate with your Employees for JobKeeper Nomination 10.Forms on your behalf to save you time & hassle to answer their queries. 10. Sharing all the communication from your employees to you for your records. 11.Claim Application between 4 May 2020 and 31 May 2020. 12.Notification of JobKeeper Payments to your Employees during the Payment Period. 13.Monthly Job Keeper Declaration Report submission to ATO on your behalf. 14.Notify ATO for any changes in Employees Status and your current or projected Turnover. 15.Unlimited Email & Phone Support on the Subject. Fair use policy applies.

15.01.2022 Do you know the difference between myGov and myGovID? While they sound similar, they’re not the same. Click on below link for more info-

15.01.2022 If you're having to work from home now, good news - the ATO is making it easier for you to claim tax deductions. For more info, please click on below link: https://www.abc.net.au//claiming-tax-deductions-/12128622

14.01.2022 Cash flow assistance for businesses-COVID 19 Small and medium-sized businesses and NFP’s with an annual turnover of less than $50 million that employ people, may be eligible to receive a total payment (in the form of a refundable credit) of up to $100,000 (minimum payment of $20,000), based on their PAYG withholding obligations on two stages; Stage-1 The tax-free payment will broadly be calculated and paid by the ATO as an automatic credit to eligible employers that pay salar...ies and wages even if they are not required to withhold PAYG tax. They will get an automatic credit upon the lodgment of activity statements from 28 April 2020(March & June 2020 BAS) Stage-2 For employers that continue to be active, an additional (tax-free) payment will be available in respect of the quarter ending June to October 2020 period (up to a maximum of $50,000) Wages subsidies for apprentices and trainees- Employers with less than 20 full-time employees, who retain an apprentice or trainee (who was in training with the employer as at 1 March 2020) may be entitled to Government-funded wage subsidies, the Maximum will be $21,000 per apprentice/trainee. Increasing the instant write-off threshold for business assets- The depreciating asset instant asset write-off threshold will be increased from $30,000 to $150,000 until 30 June 2020. For more info, Please contact NexZen accounting.

13.01.2022 If you’ve needed to travel for your small business (to make deliveries to your clients, for example), you may be able to claim some of these costs in your tax return! Common motor vehicle expenses small businesses can claim include: fuel repairs lease payments... insurance registration depreciation. You may be able to use the cents per kilometre method, the logbook method, or you may be able to only claim the actual costs based on receipts. Check out ATO's fact sheet on motor vehicle expenses at http://www.ato.gov.au/.../Deductions-for-motor-vehicle.../

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?... The info you report in your tax return (for example, business income, salary and wages or other income) can depend on what you do Read ATO's guides for different sharing economy activities to learn more visit www.ato.gov.au/General/The-sharing-economy-and-tax/ See more

09.01.2022 Cash flow boosts have started to be delivered to eligible business. If you’re looking to access the boost for your business, make sure you lodge your March 2020 monthly or quarterly activity statement. Contact NexZen Accounting on 0416 105 888 to get the cash flow boosts as per your eligibility.

08.01.2022 Good News for Businesses: The increased instant asset write-off has been extended to 31 December 2020! This means that eligible businesses can continue to invest in assets that cost less than $150,000 each

07.01.2022 $750 cash from Centrelink starting from Tomorrow What is Economic Support Payment??? The Government will be providing two separate $750 tax-free payments as Economic Support Payment if you’re living in Australia and get an eligible payment.... When & How much ??? The First $750 payment starting from 31 March 2020 The Second $750 payment starting from 13 July 2020 Eligible payments include??? Age Pension Disability Support Pension Carer Payment Carer Allowance Parenting Payment Wife Pension Widow B Pension ABSTUDY (Living Allowance) Austudy Bereavement Allowance Newstart Allowance JobSeeker Payment Youth Allowance Partner Allowance Sickness Allowance Special Benefit Widow Allowance Farm Household Allowance Family Tax Benefit A Family Tax Benefit B Double Orphan Pension. You’ll also get the payment if you have 1 of the following concession cards: Pensioner Concession Card Commonwealth Seniors Health Card Veteran Gold Card. Veteran Service Pension Veteran Income Support Supplement Veteran Compensation payments, including a lump-sum payment War Widow(er) Pension. What you need to do??? You don’t need to do anything, they’ll pay you automatically if you are getting one of the above-mentioned payment. Make sure they have your right details so they can pay you. The easiest way to do this is by using either: your Centrelink online account through myGov the Express Plus Centrelink app. Please note-You’ll only get 1 payment, even if you get more than 1 qualifying payment or card.

07.01.2022 COVID-19 Jobs Support Loans for Small Businesses What is the maximum amount I can borrow? 50% of your operation’s annual wage expense, to a maximum of $250,000 and if you work in the business, you may include your own salary or drawings in your annual wage expense.... What is the interest rate for this loan? The first year of the loan will be repayment free and no interest will be charged and after that 2.5 % will apply for the remainder of the loan. If I am a business owner with no employees, am I still be eligible for a loan? Yes, if you are a business owner without any employees you may be eligible for a COVID-19 Jobs Support Loan. Please note that to be eligible on this basis, business owners that work hours in the business must be equal to at least one full-time equivalent employee (35 hours per week). How do I apply for a loan? The easiest way to apply for this loan is to go to the Apply now link on the QRIDA website. This will direct you to an online application where you can enter the required information and upload relevant documents needed for the application. How long will it take for loan funds to be provided after I return my signed loan documents? The full amount of loan funds approved should be deposited to your nominated bank account within five business days of QRIDA receiving your returned loan documentation. For more info please click on the following link: http://www.qrida.qld.gov.au//queensland-covid19-jobs-suppo

07.01.2022 Businesses: Have you nominated an eligible business participant to receive Job Keeper payments? You can only claim payments for one eligible business participant: who was actively engaged in day-to-day operations on 1 March 2020, and ... for each fortnight payment is claimed they were actively engaged in the operation of your business. Find out more at http://www.ato.gov.au/.../Eligible-business-participants.../

07.01.2022 JobKeeper and JobSeeker to be extended beyond September at lower rate with stricter eligibility. https://www.sbs.com.au//jobkeeper-and-jobseeker-to-be-exte

06.01.2022 Sand & Sol opening on 1st July.. get ready to taste the amazing food and excellent service.

05.01.2022 Time to buy a NEW Car Is your business in a position to purchase new or second-hand assets? You may be eligible to use the expanded instant asset write-off this tax time. You must have your asset in use by 30 June 2020. If you’re looking to purchase a car, some limits may apply.

04.01.2022 ATTENTION Employers: The JobKeeper Payment is changing, so more employees can qualify. There are changes to: 1. the eligibility criteria 2. a payment extension to 31 August, and... 3. employers can nominate different employees if their employment has changed. For more details on the changes, see https://www.ato.gov.au//Employers/Your-eligible-employees/

03.01.2022 Job-Keeper Payment enrollment starts from 20th April. Click on the below link to find-out if you are eligible. https://www.ato.gov.au/general/jobkeeper-payment/employers/

03.01.2022 How does the "Homebuilder" scheme work??

03.01.2022 Time to make a Monthly declaration to ATO, if you have enrolled for job-Keeper Payments. The sooner this declaration is made, the sooner you will be reimbursed.

02.01.2022 Applications for early release of superannuation (super) will be accepted through myGov from 20 April. For more info Please click on below link: https://www.ato.gov.au//withd/early-access-to-your-super/

01.01.2022 Need To fix Something on your Tax Return. Lodged your tax return only to realise you’ve made a mistake or left something out? Don't Stress, we can help you out !