Oculus Group in Tweed Heads, New South Wales | Financial service

Oculus Group

Locality: Tweed Heads, New South Wales

Phone: +61 7 5536 3755

Address: 39 Wharf Street 2485 Tweed Heads, NSW, Australia

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

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• Business service
• Tax preparation service
• Accountant
• Financial service

25.01.2022 Whether you have a Self Managed Super Fund and need advice on how best to invest and manage the fund, or your Will and Estate plan needs updating to ensure that your estate is distributed smoothly and according to your wishes, our Gold Coast financial planners can handle it for you! https://www.oculusgroup.com.au/services/

24.01.2022 The ATO has released updated guides regarding JobKeeper. There are now comprehensive resources available for employers who do and don't report through Single Touch Payroll, as well as sole traders. Take a look here: For employers reporting through STP: https://www.ato.gov.au//JobKeeper-guide---employers-repor/ For employers not reporting through STP: https://www.ato.gov.au//JobKeeper-guide---employers-not-r/... For sole traders: https://www.ato.gov.au//In/JobKeeper-guide---sole-traders/

23.01.2022 Have you seen the updated tax tables? The ATO has recently published updated tax tables based on the tax cuts announced in the budget. The new tax rates apply going forward and will be backdated to the 1st of July. For those who have overpaid, they will be paid back at the EOFY when they complete their tax return.... As these changes to withholding are being made partway through the financial year, employers who aren't able to apply these changes immediately to their payroll have until the 16th November 2020 to do so. You can view the updated tax tables here: https://www.ato.gov.au/Rates/Tax-tables/

23.01.2022 What income must you declare this tax time? You must declare the income you have received for each financial year on your annual tax return. Most income is pre-filled from information we receive from employers and financial institutions. However, there may be some information you will need to enter manually. Regardless of whether your income is pre-filled or manually entered, you need to make sure it is accurate and complete.... The types of income you need to declare are: Employment income Super pensions and annuities Government payments and allowances Investment income Business, partnership and trust income Foreign income Plus, more! For help with your taxes this season, call our tax professionals. We'd be happy to help!

22.01.2022 As the end of the financial year approaches, the ATO is dedicated to identifying and preventing arrangements that exploit the tax system, including unlawful tax avoidance schemes. Clients should be aware that promoters of such schemes will likely be more active in the coming months. Avoid entering into arrangements that make claims which deliberately avoid or evade tax. A lawful tax accountant will offer balanced and independent advice that is based on relevant and material... facts and complies with a thorough understanding o f the law. To find out more, check out this link: https://bit.ly/3wnEb10

21.01.2022 There has been a rise in the number of businesses thinking about pausing, changing or closing their businesses at the moment. And with this, there's a host of dodgy advisors springing up who are offering inappropriate or illegal advice. While we'd like to think that if you're making big decisions about your business that you'd come directly to us, we still think it's important to spread the word as some of these advisors may cold call you with advice. ... The ATO has issued a warning to business owners to look out for red flags. This could include recommending illegal phoenix activity - intentionally removing assets from the business before closing it and using the assets in a new copy of the business. They've listed a number of other red flags which you can read here: https://www.ato.gov.au//How-to-avoid-getting-dodgy-advice/

20.01.2022 Looking into having a self-managed super fund? The team at Oculus have you covered. Our package includes: Summarising, reconciling and processing your banking and other financial records for the year... Preparing your financial accounts including member statements Preparation and lodgement of your income tax return Preparation of pension statements, reports and correspondence (if required) Maintaining, reviewing and updating your investment register Reviewing and advising you regarding the superannuation surcharge payable Checking your Superannuation Co-Contribution Payment Advice And so much more! See more information via the link below. https://www.oculusgroup.com.au/accounting-tax-packages/

19.01.2022 New legislation now partially implements a measure to increase the number of allowed SMSF members from 4 to 6. This decision is designed to make it easier for larger families to control their super savings and investment strategies where previously they were required to create two separate SMSFs. Learn more here: https://taxandsupernewsroom.com.au/smsf-regulations-to-all/... Or give us a call on 07 5536 3755 to chat with one of our financial advisors about whether you can take advantage of this new change.

18.01.2022 Five million Aussies are set to receive a bonus $750 payment in the coming weeks. So who is eligible for the hand out? The second Economic Support Payment (ESP) will hit the bank accounts of eligible government benefit recipients, including retirees and families, from July 15. Age pensioners, Family Tax Benefit recipients and Commonwealth Seniors Health Card holders are also among those in line for the payment.... Those on Jobseeker, Austudy, ABSTUDY and Parenting Payment are not eligible, while those who get the $550 coronavirus Supplement are also bumped out. Read more: https://www.news.com.au///7ae1a23871475ebdee254f379c257674

17.01.2022 July 1st marks the beginning of the new tax year. Are you prepared? Overwhelmed with the thought of it? With everything that has happened this year, it's easy to forget tax time. There have been a lot of changes in terms of lodging taxes and COVID19 support measures, so we want to make sure you are submitting correctly! If you have received a stimulus package in the wake of the COVID19 pandemic, it may affect your taxable income.... Contact our team today to learn more about how we can simplify your life this tax season!

17.01.2022 Do not to be seduced by the end of financial year sales on the belief the expense can be claimed as a tax write-off! Any unnecessary expense is bad for any individual’s financial position, regardless of the percentage they can claim back on the purchase after the middle of the year. The less needed to be claimed the better. Do not confuse the 100 per cent tax deductible offer as a freebie.... In the current economic situation, Aussies should ignore the prevailing rhetoric from big retailers who splash the EOFY sale and the incentives from government as they are just trying to stimulate spending during a downturn in the economy. Read more: https://www.news.com.au///abbf2300061effea7e310ca2177e2833

17.01.2022 With COVID19 still lingering and affecting the way businesses operate, we want to make sure all of our local businesses both big and small are prepared for reopening. Expected to be reached in July, Stage 3 will remain the new normal until the threat of COVID-19 is gone, which means businesses will have to adjust operations to suit government restrictions. While protecting our health is paramount, cash management is critical for the survival of small businesses during this... time. Monitoring costs has never been more important and now is the time to review all of your business’ expenses and look at how these can be reduced, Westpac small business spokesperson Chris Brell said. Read more about how to prepare for Stage 3 here: https://www.news.com.au///fc3a1c81401862578f05b1f0ee9ceb30

12.01.2022 Is your business enrolled for the JobKeeper Payment? Have you checked whether you have an eligible business participant? Business participants are individuals who are not an employee but are actively engaged in the operation of your business - and they may be eligible to receive JobKeeper. Make sure you take a look at this information sheet produced by the ATO: https://www.ato.gov.au//Eligible-business-participants-f/

12.01.2022 The COVID-19 early release of super program allows eligible applicants to access some of their super early, to help them deal with the adverse economic effects of COVID-19. The ATO asks that individuals keep records demonstrating their eligibility and decisions about contributing to super, to ensure integrity from all those seeking early release. If you are worried about your situation or decision to apply for early release, please do not hesitate to contact our team as we'd... be happy to make sure you are compliant with the ATO guidelines as we approach tax time. Read more about the superannuation early release program eligibility here: https://www.ato.gov.au///Early-release-of-super-integrity/

09.01.2022 Did you take out some of your super during the height of the pandemic or have been monitoring your Super payments? The ATO has released the 20/21 Superannuation rates and thresholds for the coming financial year. Check out the Link below for more info.... https://www.ato.gov.au//Key-superannuation-rates-and-thr/

09.01.2022 If you own a hospitality business, you know that the industry presents unique challenges. Here at Oculus Group, we know how important it is to work with hospitality accountants who genuinely understand the industry. We have over 70 years of experience working as hospitality accountants for businesses and business owners in the Gold Coast and Tweed regions. In that time as professional accountants, we have worked with a range of cafes, restaurants and bars to provide our expe...rt advice for hospitality businesses both large and small. To learn more about our accountant services for the hospitality industry, visit: https://www.oculusgroup.com.au/hospitality-accountants-gol/

09.01.2022 We love this! Give a little love to your accountant this tax time Xero released a music track to honour the industry’s monumental efforts in support of the nation’s small businesses featuring Australian entertainer and TV personality Sam ‘Sam Mac‘ McMillan! https://www.xero.com//celebrating-australias-unsung-heroe/

08.01.2022 We have incredible News for our small business owners in Queensland! The Palaszczuk Government has announced three new grant programs worth approximately $25 million over the next two years. The three grants are designed to assist businesses in recovering, pursuing opportunities to grow and employ more people. ... Business Basics Grant is designed to offer funding to both new and emerging businesses Business Boost Grant: support established business Business Growth Fund: help evolving and fast-growing small and medium businesses These grants can be used for website development and upgrades, strategic marketing, training and coaching, advisory services and planning for business continuity and succession. Find out more in this press release: https://statements.qld.gov.au/statements/92000 and here: https://www.business.qld.gov.au//advice-su/grants/schedule

08.01.2022 The QLD Government has just announced a new round of support for businesses. "The measures are: - a two-month waiver for of payroll tax for July and August 2020 for businesses with annual Australian taxable wages up to $6.5 million;... - continuing to exempt JobKeeper subsidy payments from payroll tax despite the Morrison government making these payments liable for income tax; - allowing businesses to pay off existing payroll tax deferred liabilities over the course of 2021; and - for businesses renting State Government premises and incurring a demonstrable COVID impact, extending existing rent relief to the end of calendar 2020." Read the full statement here for more information: https://statements.qld.gov.au/statements/90685

06.01.2022 Small businesses: When should you hire an accountant? There are good reasons for hiring an accountant at different stages of your company's growth. From a business plan to company formation, loan application to tax audit, an accountant can make life easier for you at each step. Your specialty is running your business. Leave the financial detail to us. By using a cloud-based accounting software like Xero, you'll be able to keep track of what your accountant does, and always be... able to see your company's financial situation at a glance. Read more about when to seek help from an accountant here: https://www.xero.com///accounting/when-to-hire-accountant/

05.01.2022 If you or someone you know living at a NSW address is experiencing financial difficulty at the moment, the NSW government is offering Energy Accounts Payment Assistance vouchers. Valued at $50, the vouchers are sent electronically to your energy retailer to help pay your home electricity or gas account. You can find out more here: https://www.service.nsw.gov.au//energy-accounts-payment-as

05.01.2022 The NSW Government has announced a range of tax relief measures to support businesses impacted by COVID-19. This includes: - 25% reduction in annual tax liability for businesses with annual grouped Australian wages of $10 million or less - Payroll tax deferral for payments from March 2020 - 30 October 2020... - Payroll tax Stimulus Payment Arrangements for up to 24 months from the 26 October - Increasing the tax-free threshold from $900k to $1 million for the financial year commencing 1 July 2020. Find out more here: https://www.revenue.nsw.gov.au//covid-19-coronavirus-and-p

04.01.2022 It’s no surprise that working from home has increased due to COVID, or even been somewhat revolutionised in certain industries in the past year. This paper (link below) from the Institute of Transport and Logistics Studies, under the University of Sydney, elaborates in detail on the widespread positive consequences of working from home. This work recognised some unintended wider economic benefits, including to employers and businesses, and the wider economy such as regional housing markets and the transport network. Here’s to leveraging these positive outcomes, learning what we can and continuing to be adaptable into the future! https://apo.org.au//resource-fil/2021-04/apo-nid311894.pdf

04.01.2022 The latest changes to JobKeeper may mean that employees who joined your business after the 1st March are now eligible for Jobkeeper. There is more info about these changes here: https://taxandsupernewsroom.com.au/latest-jobkeeper-amendm/

02.01.2022 The ATO is providing an STP reporting extension to micro employers (those who have four or fewer employees) who are experiencing exceptional or unforeseen circumstances. If you are unable to make the transition to STP reporting, you can ask your registered tax or BAS agent to report quarterly on your behalf until the 30th June 2021. You can learn more here about eligibility and how to apply for the concession: https://www.ato.gov.au//Concessional-repo/Micro-employers/