OTC Tax & Accounting Sunnybank in Sunnybank, Queensland, Australia | Financial service

OTC Tax & Accounting Sunnybank

Locality: Sunnybank, Queensland, Australia

Phone: +61 7 3348 9091

Address: K-Mart Plaza, Mains Road 4109 Sunnybank, QLD, Australia

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

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24.01.2022 Services Australia has put together a comprehensive list of what new payments are taxable and what payments are tax-free #covid19 #smallbusinesshelp #brisbaneaccountants #governmentsupport #governmentpayments #centrelink #jobkeeper #jobseeker

23.01.2022 Remember, if you are currently working from home (or did work from home during the tax year), keep track of all the hours worked from home so that you can claim... it as a tax deduction in your 2020 tax return! #smallbusinessaccounting #taxreturn #taxseason2019 #taxseason2020 #taxdeductions #workingfromhome #workfromhome #accounting #tax #brisbaneaccountants #smallbusiness #otctax

22.01.2022 Just a reminder that if you are experiencing financial hardship, the Brisbane City Council is providing temporary rates relief if you contact them on 07 3403 8888. The Brisbane City Council is also supporting owner-occupied ratepayers who are unemployed and receiving the JobSeeker allowance during the 2020-21 financial year with a one-off $250 credit applied to their rate account. #brisbane #brisbanecitycouncil #smallbusiness #covid19 #brisbaneaccountants #smallbusinessaccountants

22.01.2022 Are you receiving the Coronavirus Supplment from Centrelink? If so, make sure you read the information below which gives a breakdown of what type of payment it is and what you need to do for your tax return. Have more questions? Give us a call on 07 33489091. . .... . . . . . .#smallbusinessaccounting #taxreturn #taxseason2020 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #centrelink #coronavirusupplment #centrelinksupportpayments #JobSeeker #youthallowance #aubstudy #parentingpayment #austudy See more

20.01.2022 Are you a little unsure on what you can claim on your rental property this year? We have some listed some common FAQs and answers below for you! If you have an...y other questions, feel free to call us on 07 3348 9091. Q: My tenants are not paying their full rent or have temporarily stopped paying rent due to financial stress brought on by COVID-19. Can I still claim deductions on my rental property expenses? A: Yes! If tenants are not paying their full rental amount as per the lease agreement (due to COVID-19) but you have continued to incur normal expenses on your property, then you will still be able to claim these expenses in your tax return. Q: To enable my tenants to stay in the property, Im considering reducing the rent for tenants whose income has been adversely affected by COVID-19. The tenants are not in default of their rent. Will my rental property expense deductions be reduced because of this? A: No. If you decide to reduce the rent to enable your tenants to remain in the property (thereby maximising your rental return in a changed rental market), your deduction for rental property expenses will not be reduced. Q: If I receive a back payment of rent or an amount of insurance for lost rent, is this amount assessable income? A: Yes. These amounts should be declared as income in the tax year in which you receive the amounts. Q: If the bank defers loan repayments for a period of time as a result of COVID-19, can I continue to claim interest on the loan as a deduction? A: Yes. If interest continues to accumulate on your loan, it will be an expense that you have incurred and is therefore deductible. Interest remains deductible on the loan even if the bank defers the repayments. . . . . . .#smallbusinessaccounting #taxreturn #taxseason2020 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #rentalproperty #rentalpropertydeductions #rental #rentalpropertyFAQ #negativelygeared #positivelygeared #interest #bankinterest #deductions #taxdeductions

20.01.2022 We are ready and excited for Game 1 of State of Origin! Let’s go QLD . . . #stateoforigin #game1 #stateoforigin2020 #queensland #queenslander #fun #accounting #accountant #tax

19.01.2022 Under the new QLD Government pandemic payment scheme, casual workers who do not have access to sick leave will be given a $1,500 lump sum payment from the Que...ensland Government if they test positive for coronavirus. This scheme is due to run for the next 6 months. The scheme is designed to relieve some financial pressure on Queensland workers who otherwise, may have wanted to return to work during quarantine or whilst being sick, to earn an income. More information about how to access this payment is to come. In the meantime, if you would like to know how to get access to this payment, we suggest you speak to the member for Bulimba. Her details are here; https://www.parliament.qld.gov.au//cur/list/MemberDetails . . . . #smallbusinessaccounting #taxreturn #taxseason2019 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #pandemicpaymentscheme #casualworkers #casuals #support #lumpsumpayments

18.01.2022 Just a reminder that not everyone is entitled to the tax-free early super release. The ATO is now data matching wage income to see if there has been any reduction to your normal salary information. If you are deemed ineligible for the tax-free early super release, the payment will become assessable income and will need to be included in your tax return.

17.01.2022 The QLD Government announced a new grant available to small businesses. It aims to support those business which have been impacted by the coronavirus (COVID-19)... by assisting in adapting and sustaining business operations whilst building resilience. The available grant amount is up to a maximum of $10,000 per eligible small or micro business and the funding can be used towards the following: - financial, legal or other professional advice to support business sustainability and diversification - strategic planning, financial counselling or business coaching aligned to business development and diversification - building the business through marketing and communications activities, for example, content development (web pages, mobile apps, visual and audio media etc.) - digital/technological strategy development - digital training or re-training to adapt to new business models - capital costs associated with meeting COVID-19 SAFE requirements - specialised digital equipment or business specific software to move business operations online (e.g. logistics program for online ordering) - meeting business costs, including utilities, rent. Applications will be processed on a first come, first served basis, and therefore not all applications will be successful. We recommend being quick in applying as 27% of funds have been requested ( as at 8am 21 May 2020). See the website here; https://www.business.qld.gov.au//advice-su/grants/adaption If you require any assistance, please contact us today. #smallbusinessaccounting #taxreturn #taxseason2019 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #qldgov #queenslandgovernment #smallbusinesscovid19adaptiongrant

16.01.2022 See the ATOs guide to linking the ATO to your MyGov account! From there you can access your income statement (formally known as a PAYG summary)! . . . .... . . . . . #taxseason2020 #taxseason #tax #taxreturns #ATO #myGov #accountants #accounting #taxaccounting #onlineselfservice #COVID-19 #coronavirus #smallbusiness #smallbusinessaccounting See more

15.01.2022 JobKeeper payments for eligible employees, who in the four weeks of pay periods before 1 March 2020 worked for 20 hours or more per week on average, will be red...uced to $1,200 per fortnight from 28 September to 3 January 2021. From 4 January to 28 March 2021 payments will be reduced to $1,000 per fortnight. For eligible employees that worked less than the 20 hours per week prior to March 2020, the payments will reduce to $750 per fortnight from September and then $650 per fortnight from January 2021. #jobkeeper #jobseeker #smallbusiness #covid19 #brisbane #accountants #smallbusinessaccountants #governmentsupport #murarrie See more

13.01.2022 If you want to claim any voluntary super contributions as a tax deduction for the 2020 tax year, be sure to make your contribution prior to 30 June 2020. Once the financial year has ended, you can download the Notice of Intent to Claim form from the ATO website or your superfund website. Make sure to fill it in, submit to your superfund and receive the confirmation letter from your superfund prior to booking an appointment. #smallbusinessaccounting #taxreturn #taxseason2019 #taxseason2020 #taxdeductions #super #superdeductions #supercontribution #personalsupercontribution #accounting #tax #brisbaneaccountants #smallbusiness #otctax #openwestand

13.01.2022 Data matching for Job Keeper / JobSeeker has now begun. Contact us or the ATO if you think you have been overpaid these benefits.Data matching for Job Keeper / JobSeeker has now begun. Contact us or the ATO if you think you have been overpaid these benefits.

12.01.2022 Do you pay JobKeeper to your employees? You must pay your employees on or before the 13th September 2020 for fortnight 12 (31 Aug - 13 Sep) wages. You must also... ensure you complete the STP reporting (if applicable). If you have any queries, or would like assistance with you payroll tasks, feel free to contact us! #smallbusinessaccounting #taxreturn #taxseason2019 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #payroll #jobkeeper #jobkeeperpayments #jobkeeperpayroll

12.01.2022 Reminder that TPAR are due at the end of August. Contact us on 07 3348 9091 if you require help completing the TPAR report. #australiantaxoffice #tpar #smallbusiness #accounting #accountants #brisbane #ato #bas

12.01.2022 Do you pay JobKeeper to your employees? You must pay your employees on or before the 19th Jul 2020 for fortnight eight (6 Jul - 19 Jul) wages. You must also ens...ure you complete the STP reporting (if applicable). If you have any queries, or would like assistance with you payroll tasks, feel free to contact us! #smallbusinessaccounting #taxreturn #taxseason2019 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #payroll #jobkeeper #jobkeeperpayments #jobkeeperpayroll

12.01.2022 A reminder that the JobKeeper eligibility criteria for 16 and 17 year olds has changed. To qualify for JobKeeper from 11 May 2020 (from fortnight 4), 16 and 17... year old employees must have been independent or not studying full time from 1 March 2020. Please ensure that if you have any 16 and/or 17 year old employees, that you have re-tested their eligibility and have had them resign the updated Employee JobKeeper Nomination Form. For more info, see here; https://www.business.gov.au//JobKeeper-Payment-for-employe #smallbusinessaccounting #taxreturn #taxseason2019 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #jobkeeper #jobkeeperpayment

11.01.2022 Dont forget to lodge and pay your 2020 FBT returns! Contact us now if you need any assistance. #smallbusinessaccounting #taxreturn #taxseason2019 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #fbt #fbtreturns

11.01.2022 The super guarantee amnesty is now available for employers. Applications close 7 September 2020. If you are behind on paying employees superannuation, nows yo...ur chance to catch up without paying super guarantee charge fees or penalties. To be eligible: The unpaid super must relate to a quarter between 1 July 1992 and 31 March 2018 You must not have been informed we are examining your SG obligation for the period your disclosure relates to You must apply to us under the amnesty by using the correct form. This is a one-time only opportunity to get on top of your super paperwork!!. For more information visit; https://www.ato.gov.au//S/Superannuation-guarantee-amnesty . . . . .#smallbusinessaccounting #taxreturn #taxseason2019 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #taxseason20 #superguarantee #SGamnesty #superguaranteeamnesty

11.01.2022 Do you pay JobKeeper to your employees? You must pay your employees on or before the 2nd August 2020 for fortnight nine (20 Jul - 2 Aug) wages. You must also en...sure you complete the STP reporting (if applicable). If you have any queries, or would like assistance with you payroll tasks, feel free to contact us! #smallbusinessaccounting #taxreturn #taxseason2019 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #payroll #jobkeeper #jobkeeperpayments #jobkeeperpayroll

10.01.2022 Lets keep practising good habits up even after restrictions are eased! . . . #smallbusinessaccounting #taxreturn #taxseason2019 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #goodhabits #goodhealth

10.01.2022 From the 13th July, the second round of The federal governments $750 coronavirus stimulus will start being released. Around five million social security, veter...an and other income support recipients and eligible concession card holders are expected to receive the payment. For more information on eligibility, see here; https://treasury.gov.au//Fact_sheet-Payments_to_support_ho . . . . .#smallbusinessaccounting #taxreturn #taxseason2020 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #coronavirusstimulus #coronaviruspayments #servicesaustralia #centrelink

10.01.2022 Do you drive more than 5,000kms for work in your personal car? It may be worth completing a 12 week logbook so you claim a portion of your car expenses within ...your tax! When completing your logbook, make sure it contains; when the logbook period begins and ends the cars odometer readings at the start and end of the logbook period the total number of kilometres the car travelled during the logbook period the number of kilometres travelled for each journey (start and end odometer reading) date of the journey description for each journey the business-use percentage for the logbook period the make, model, engine capacity and registration number of the car. If you do not drive more than 5,000kms in a year for work, but do complete some business travel in your personal car, you can claim the set-rate method! Contact us if you have any queries! #smallbusinessaccounting #taxreturn #taxseason2019 #taxseason2020 #taxdeductions #cardeductions #logbookmethod #accounting #tax #brisbaneaccountants #smallbusiness #otctax

09.01.2022 The June Monthly Business Declaration for the JobKeeper Wage Subsidy can now be submitted to the ATO. Remember, the ATO will not pay the subsidy monies until th...e monthly declaration is received and processed. Contact us today if you require assistance lodging this form! . . . #smallbusinessaccounting #taxreturn #taxseason2020 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #payroll #jobkeeper #jobkeeperpayment #monthlybusinessdeclaration #ATO #wagesubsidy

08.01.2022 If you are paying land tax, you may be eligible for the Queensland Land Tax deferrals and/or rebates. Whilst the deferral is applied automatically, you must app...ly for the rebate prior to 30 June 2020 through the Office of State Revenues online system. For more information and details on the eligibility criteria and terms and condition, please see the Office of State Revenues link here; https://www.qld.gov.au/environment/land/tax/covid-19 #smallbusinessaccounting #taxreturn #taxseason2019 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #coronaviruslandtaxrelief #landtax #osr

07.01.2022 Have you heard about the new HomeBuilder grant? Eligible owner-occupiers (including first home buyers) will be able to apply for the $25,000 HomeBuilder grant t...o assist them in building a new home or substantially renovating an existing home. Home Builder is designed to boost the residential construction industry by encouraging Australians to undertake renovations or new home builds. More information regarding when and how to apply, is due to be released by each State or Territory Government soon. In the meantime, you can find some general information and subscribe to updates here; https://treasury.gov.au/coronavirus/homebuilder #smallbusinessaccounting #taxreturn #taxseason2019 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #homebuildergrant

07.01.2022 Want an accountant to assist you in completing your BAS? We can review your Xero, Quickbooks or MYOB BAS each quarter to make sure that your book keeping is correct (from $55 each quarter). We can also fully process your BAS each quarter (including book keeping) from $220 for small business and $185 for Uber / cab drivers. #smallbusinessaccounting #taxreturn #taxseason2019 #taxseason2020 #taxdeductions #BAS #businessactivitystatements #assistinBAS #bookkeeping #accounting #tax #brisbaneaccountants #smallbusiness #otctax

06.01.2022 Round 2 for the COVID-19 Small Business Adaption Grant Program will open on 1st July 2020. The Queensland Government is extending the COVID-19 Adaption Grant Pr...ogram. As part of Stage 2 of Queenslands Economic Recovery Strategy Unite and Recover for Queensland Jobs, up to $100 million is being made available to deliver a second round of grants. Your small business could receive up to $10,000 ! For more information visit here; https://www.business.qld.gov.au//advice-su/grants/adaption . . . . . #smallbusinessaccounting #taxreturn #taxseason2019 #taxseason 2020 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #QLDGrants #QLDGovernment #AdaptionGrantProgram

05.01.2022 Do you pay JobKeeper to your employees? You must pay your employees on or before the 5th July 2020 for fortnight seven (22 Jun - 5 Jul) wages. You must also ens...ure you complete the STP reporting (if applicable). If you have any queries, or would like assistance with you payroll tasks, feel free to contact us! #smallbusinessaccounting #taxreturn #taxseason2019 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #payroll #jobkeeper #jobkeeperpayments #jobkeeperpayroll

04.01.2022 Some helpful information for those who are not required to pay the Medicare Levy and are seeking the exemption for their tax return. Please ensure you have this exemption paperwork ready for when you book an appointment. #smallbusinessaccounting #taxreturn #taxseason2020 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #medicarelevyexemption #medicarelevy

03.01.2022 The Instant Asset Write Off threshold of $150,000 has now been extended until 31 December 2020! Businesses with annual turnover of up to $500 million, can writ...e off $150,000 in new and used equipment, vehicles and office fit-outs. Any purchases made after 30 June 2020, will be included in the 2021 tax return. If you have any questions, feel free to contact us! . . . . . #smallbusinessaccounting #taxreturn #taxseason2019 #taxseason2020 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #instantassetwriteoff #IAWO #taxdeduction

03.01.2022 Make sure you have followed all the steps to receive the 28 September - 2 January 2021 JobKeeper payments.

03.01.2022 Are you an employer or sole-trader who is eligible and wants to enrol for JobKeeper? It is not too late, the ATO have extended the enrolment date until the end ...of May. Speak to us today about how we can help! #smallbusinessaccounting #taxreturn #taxseason2019 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #jobkeeper #soletrader #employerassistance

03.01.2022 Reminder If you are eligible for the JobKeeper 2.0 extension and have enrolled, you can now lodge the October Monthly Business Declaration for the JobKeeper... Wage Subsidy via ATO online services. Remember, the ATO will not pay the subsidy monies until the monthly declaration is received and processed. Contact us today if you require assistance lodging this form! . . . #smallbusinessaccounting #taxreturn #taxseason2020 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #payroll #jobkeeper #jobkeeperpayment #monthlybusinessdeclaration #ATO #wagesubsidy

02.01.2022 Need to scan documents for your tax return but dont have a scanner? You can scan on your iPhone! Follow this super simple tutorial from Apple, which explains how to scan documents within the notes application. From the notes app, you can then export and email to us! #smallbusinessaccounting #taxreturn #taxseason2019 #taxreturn2020 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronaviru...saustralia #iphonetips #iphonescans . . . . . https://www.youtube.com/watch?v=zgUSYp4pwXo

02.01.2022 The Government has extended the final application date of the second round early release of super from 24 September to 31 December 2020. #smallbusiness #superannuation #covid19 #brisbane #murarrie #accountants #brisbaneaccountants #earlysuper #super

01.01.2022 If you need help with the STP finalisations that are due by Friday 31st July, please contact us on 07 3348 9091. #smallbusiness #stpfinalisation #brisbaneaccountants #smallbusinessaccountants #murarrie #payrollhelp

01.01.2022 Some important info from the ATO regarding new tax scams which are popping up! #smallbusinessaccounting #taxreturn #taxseason2019 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #taxscam #alert

01.01.2022 The July Monthly Business Declaration for the JobKeeper Wage Subsidy can be submitted to the ATO from tomorrow (1 August). Remember, the ATO will not pay the su...bsidy monies until the monthly declaration is received and processed. Contact us today if you require assistance lodging this form! . . . #smallbusinessaccounting #taxreturn #taxseason2020 #accounting #tax #brisbaneaccountants #smallbusiness #otctax #covid19 #covid19support #covid19response #covid19australia #coronavirus #coronavirusaustralia #payroll #jobkeeper #jobkeeperpayment #monthlybusinessdeclaration #ATO #wagesubsidy

01.01.2022 Invoicing tips 101!