Peer Accountants in Greenslopes, Queensland | Property

Peer Accountants

Locality: Greenslopes, Queensland

Phone: +61 1300 853 449

Address: 433 Logan Road Greenslopes 4120 Greenslopes, QLD, Australia

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

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25.01.2022 Consumer Motor Vehicle Finance Available $20,000 5 Years 30% Balloon From $325 per month - New Vehicle

25.01.2022 Cash rate falls to new record low The central bank has pulled its monetary policy lever for the fourth time in less than a year amid growing instability in domestic and global markets. The Reserve Bank of Australia (RBA) has lowered the official cash rate by 25 bps from 0.75 per cent to 0.5 per cent marking the fourth cut since June 2019 when the easing cycle commenced....Continue reading

25.01.2022 Pt Talburpin friendly regatta last weekend. Great day with good friends

25.01.2022 Blakesleys on a quiet day

24.01.2022 Fact Sheet Link New Commonwealth Grant Never a better time to buy for a First Home Owner 5% Deposit no Loan Mortgage Insurance Payable. Please enquire within http://www.nhfic.gov.au/media/1236/fhlds-fact-sheet.pdf

22.01.2022 DID YOU KNOW: We have funders who lend for business purposes up to $500,000 when the loan is secured by residential property! From 2.19% You can access business-purpose lending on the same low rates as a standard home loan, with rates as low as 2.19%. We can help your business: Refinance expensive business loans... Fund the purchase of plant and equipment Acquire a new business - Property Management Book We can also offer interest-only terms for both owner-occupied and investment loans. For further information regarding our business purpose loans, or if you have any questions, please contact me #mortgage #mortgages #loan #loans #investment #homeloan #property #business #finance #propertymanagement #realtor #realestate

22.01.2022 https://www.domain.com.au//liveable-brisbane-north-of-the/

22.01.2022 INTEREST RATE CUTS IMMINENT, SAY WESTPAC AND NAB The central bank’s board has announced its monetary policy decision amid speculation of a cut to the cash rate. The Reserve Bank of Australia (RBA) has held the official cash rate at 0.25 per cent, despite speculation of an adjustment. ...Continue reading

22.01.2022 Mandatory code for the provision of rent relief by commercial landlords to tenants. Prime Minister Scott Morrison has revealed that he has reached an agreement on a mandatory code for the provision of rent relief by commercial landlords to tenants. In a press conference today, Mr Morrison said the mandatory code will be legislated and regulated as appropriate in each state and territory jurisdiction. ... He said the code will apply to tenancies where the tenant or landlord is eligible for the JobKeeper program and where they have a turnover of $50 million or less. "The code is designed to support those small and medium sized enterprises, be they a tenant or indeed a landlord," Mr Morrison said. "The code brings together a set of good faith leasing principles. Landlords must not terminate the lease or draw on a tenant's security. Likewise, tenants must honour the lease. Mr Morrison said landlords will be required to reduce rent proportionate to the trading reduction in the tenant's business through a combination of waivers of rent and deferrals of rents over the course of the pandemic. He said waivers of rent must account for at least 50 per cent of the reduction in the rental provided to the tenant during that period, while deferrals must be covered over the balance of the lease term and in a period no less than 12 months. More to come.

21.01.2022 Available funding The available Qld Gov grant amount is up to a maximum of $10,000 per eligible small or micro business. In recognition of the significant impacts of COVID-19 on small businesses, the funding can be used towards the following:... financial, legal or other professional advice to support business sustainability and diversification

20.01.2022 45 th Vintage Yacht Regatta last weekend great time little Lyla enjoyed some good racing against Dad/Grand dad on Neried

19.01.2022 Responsible lending pendulum has swung too far: Lowe By Charbel Kadib 17 August 2020 The Reserve Bank governor has criticised recent interpretations of responsible lending obligations, stating that banks should not bear total responsibility for a borrowers failure to repay their loan....Continue reading

19.01.2022 GOING CRYPTO The tax office is strongly encouraging taxpayers to review cryptocurrency guidance, ahead of its surveillance and compliance activity for tax time 2018. The tax treatment of cryptocurrencies, bitcoin in particular, is an ongoing source of confusion for advised and non-advised taxpayers.... However, this is unlikely to be a suitable defence for non-compliance at tax time 2018, particularly where taxpayers have not tried to engage with the ATO to understand and meet their obligations. Where people attempt to deliberately avoid these obligations we will take strong action, in particular using a range of existing powers that are designed to address unexplained wealth and conspicuous consumption that may arise through profits derived from cryptocurrency investment, an ATO spokesperson told Accountants Daily. The ATO will be using its existing and standard processes to address unexplained wealth and conspicuous consumption that may arise through profits derived from cryptocurrency investment. The tax office is also set to receive data from financial intelligence agency AUSTRAC. Recent changes to the Anti-Money Laundering Counter-Terrorism Financing Act, spearheaded by AUSTRAC, are designed to provide the ATO with data which identifies participants in the market and income that may be subject to capital gains. Further, the ATO said it will continue to review and update its guidance related to cryptocurrency. As previously reported, it is currently engaging with industry stakeholders on the matter. Chartered Accountants Australia and New Zealand’s tax leader, Michael Croker, similarly expects the ATO will be very public about monitoring cryptocurrency tax obligations this year. I expect the ATO will be in outreach mode, telling taxpayers that cryptocurrency activity has tax consequences, and warning of big penalties for non-disclosure, Mr Croker said in a social media post this week. At least initially, those engaged in crypto activities will attract a high ATO risk rating and direct follow-up contact is likely - chartered accountants preparing tax returns, be warned, he said. Resources for you and your clients The tax office and related agencies have issued guidance on cryptocurrency. Of note, these include: https://www.ato.gov.au//financia/gst-and-digital-currency/ https://www.ato.gov.au//tax-treatment-of-crypto-currencie/

19.01.2022 FOR IMMEDIATE RELEASE CONTACT John King/Director Phone: 0439 326 977 Email: [email protected]... RE: Peer Accountants has been shortlisted for the prestigious Accountants Daily Australian Accounting Awards 2018. John King from Peer Accountants has been shortlisted as a finalist to win an award in the category New Firm of the Year at the 2018 Australian Accounting Awards, hosted by Accountants Daily. Now on its fifth year, the Australian Accounting Awards, in partnership with Thomson Reuters, recognises the exceptional contribution of individuals and accounting firms across 31 categories. Winners from the individual categories will automatically be shortlisted for the coveted Accountants Daily Excellence Award. On behalf of the team at Accountants Daily, sincere congratulations to all the deserving finalists in this year’s Australian Accounting Awards, said Accountants Daily managing editor Katarina Taurian. It’s great to see such a diverse mix of firms, from micro-businesses right up to nationwide networks. We are also pleased to be recognising the broader role accountants play in their locales and in the lives of their clients. Accountants are the backbone of small business in Australia, and the community flow-on effect is enormous. John King, Director at Peer Accountants said he was humbled by the nomination. Peer Accountants recognition for its excellent contribution to the industry reinforces the strength of the brand in connecting with the community and engaging with its customers, he added. The winners will be announced at a black-tie awards dinner on 1 June at the Hyatt Regency Sydney.

19.01.2022 National house prices are set for sustained growth after two years of steady decline, thanks to the RBA’s work to revive the economy, according to Moody’s. Moody’s Investor Services has said that the Reserve Bank of Australia (RBA) has been forced to do the heavy lifting in order to strengthen the weakening national economy, resulting in forecast house price growth but ongoing subdued household consumption. Record-low cuts to official cash rate by the RBA, coupled with rela...Continue reading

19.01.2022 Annual private credit growth now below 3% Credit growth (August 2019) % m/m % y/y Total Private Credit 0.2 2.9 Housing 0.2 3.1... Investor -0.1 0.1 Owner-occupier 0.3 4.7 Personal -0.2 -3.4 Business 0.2 3.4 Private sector credit growth was just 0.2% in August, with investor housing (-0.1% m/m) and other personal credit (-0.2% m/m) weighing on the monthly result. Total housing credit growth slowed to 0.2% m/m, with owner-occupiers posting 0.3% m/m growth, down from 0.5% in July. This saw annual growth slide to a new low of 3.1%. However, it is likely that housing credit growth has reached its low. The easing in regulatory conditions, as well as rate cuts (both actual and expected) are already seeing the housing market improve. The housing credit impulse has picked up over the past few months although there was a slight dip in August. The deceleration in business credit has been more rapid over the last few months. However, with business loan approvals showing a sharp pick-up recently and a forecast improvement in nominal GDP, we see annual business credit growth picking up by the middle of next year.

18.01.2022 Housing approvals surged in September following a sharp rise in approvals for units and decent pick up for houses. The rise in approvals for units was primarily in Queensland, ACT and South Australia. In contrast, non-residential approvals tumbled following the rise of the previous month. With the housing market rapidly recovering, we anticipate approvals to broadly trend up from here. In other data, private sector credit for September was in line with our expectations but di...sappointed the market. Business credit had its strongest month since March an encouraging sign. Australian residential building approvals rose 7.6% m/m in September, following a revised 0.6% drop in August. Apartment approvals surged 16.1% after August’s modest 1.8% rise, while house approvals rose 2.7%. Approvals are, however, still 19% lower than a year ago. The approvals headline number was lifted primarily by unit approvals growing 53.3% in QLD, 85% in SA and 523% in the ACT. Outside of this,there wasn’t much strength except for Western Australia’s housing approvals which were up 6.6% m/m in September. We think October approvals have a reasonable chance for another rise,driven by some large apartment block approvals in Sydney. However, the pipeline of activity elsewhere is diminishing. Although we expect to see broad improvement in approvals over the coming months, given approvals are still down 19% for the year, construction is likely to remain weak for some time. We think we are at or close to the turning point in approvals,which matters for our expectation of a recovery in residential investment

18.01.2022 Budget 2021/21 handed down By Annie Kane 06 October 2020 Federal Treasurer Josh Frydenberg has presented a range of tax cuts and new spending initiatives, including those for small businesses, in the 2020-21 Budget....Continue reading

17.01.2022 More than 110,000 first home buyers entered the Australian housing market last year. Although tighter lending standards, declining property prices and uncertainty related to the economy have deterred some, we still expect a similar number of first home buyers to be getting the keys to their very own property this year. Housing Outlook 2019Australian housing market insights Welcome to the 18th edition of the QBE Australian Housing Outlook where youll find the latest property ...market forecasts and analysis from our partners at BIS Oxford Economics, which we hope will provide some fresh perspectives as the market continues to evolve. Regulatory intervention in financial markets has had a profound impact on the residential property market. While record low interest rates and unemployment would typically have continued to fuel property prices, the limited availability of credit has more than offset demand resulting in significant property price declines across many of our capital cities. Capital city house prices House prices across all capital cities are expected to stabilise over the coming year, before strong population growth and a sharp downturn in new dwelling completions result in median prices increasing. The strongest forecast is for Brisbane, where a decade of modest price increases has left the market relatively affordable. The future looks a lot brighter for our capital cities and the worst appears to have passed for the Sydney property market and Melbournes residential landscape. See how your capital city is expected to perform. https://www.qbe.com//The-QBE-Australian-Housing-Outlook-20 Housing Outlook 2019 High-density missing the mark? With the Australian dream of home ownership as strong as it has ever been, the residential property market continues to evolve to meet our nations changing wants and needs. In this years report, we examine the current composition of residential property construction in the Australian market to answer one of the big questions of our time Is high-density missing the mark for owner occupiers? Housing Outlook 2019 Download the full report now https://www.qbe.com//The-QBE-Australian-Housing-Outlook-20 The information on this page of a general nature and observations about the property market and its trends are not intended to be construed as financial advice. For property market financial advice, speak with a professional.

17.01.2022 https://www.qbe.com//The-QBE-Australian-Housing-Outlook-20 Brisbane Forecast to Grow by 20.3% through to 2022

17.01.2022 RBA cuts, with more on the way Dec 2019 forecast .25% Reduction and a further .25% in March 2020 --- should see retail residential rates at 2.4% to 2.7% by March 2020. Another cut to the RBA cash rate this week, and more cuts look likely. The tone of the post-meeting statement was relatively dovish, and the market has responded by pricing just under an 80% chance of another cut by December. The RBA continues to see downside risks to the global outlook, and locally is concer...ned about the labour market as well as the outlook for consumer spending. On this front, the August retail trade data was disappointing, suggesting that either the tax cuts are not being spent, or the underlying pace of spending is very slow. In broad terms, the RBA sees the resilience of the Australian financial system as having improved. Banks hold plenty of capital, putting their core capital ratios in the top quartile of global banks and this strength is only likely to improve, given regulatory action. Moreover, tighter standards for housing lending have improved the quality of loans overall. The FSR did reiterate, however, how important it is that banks are not overly cautious in the implementation of current lending policies, going on to note that excessive risk aversion by financial institutions can curtail the provision of credit that facilitates economic growth. The RBA points out that while elevated uncertainty about the global and domestic outlook has increased the risks to households, this has been countered by the recent improvement in the housing market. The Bank sees households as being well placed to service their debt, with the recent reductions in interest rates providing support. Moreover, the quality of loans has increased over the last few years as a result of regulatory changes. The proportion of loans with LVRs of 90% are close to their lowest level in more than ten years. The reduction in new interest-only (IO) loans and the rolling over of old IO loans into principal and interest loans has seen the share of IO loans now also lower than it has been for more than a decade

17.01.2022 Bitcoins and CGT exemption for personal use assets A private binding ruling demonstrates that bitcoins (or other similar cryptocurrencies) a taxpayer purchased as a hobby during the very early stages of their existence could fall within the CGT exemption for personal use assets. According to TD 2014/26, bitcoins are CGT assets for the purposes of ITAA 1997 s 108-5(1). Meanwhile, a capital gain made from a personal use asset (a CGT asset used or kept mainly for personal use or... enjoyment) is disregarded if the first element of the cost base is $10,000 or less (s 118-10(3)). Any capital loss made from a personal use asset is disregarded (s 108-20(1)). A private binding ruling shows that a taxpayer who is not carrying on a business of trading bitcoins were holding bitcoins on capital account and that the bitcoins fell within the CGT regime. The ruling said that the taxpayer purchased bitcoins informally and/or mined them personally in the very early stages of their existence as a hobby, rather than to obtain a speculative profit. Accordingly, these bitcoins could fall within the CGT exemption for personal use assets. However, bitcoins mined as part of a pool would not be personal use assets because: at the time of acquiring the bitcoins, the taxpayer was no longer required to support the Bitcoin network, as evidenced by the higher difficulty which led to the need to use a pool, and a pool involves cooperation in order to obtain something of value, which puts the activity closer to the commercial end of the spectrum rather than the personal. Similarly, bitcoins purchased through an online exchange would not be personal use assets because: at this stage, the bitcoin market and ecosystem was maturing, as evidenced by the existence of exchanges where bitcoins could be readily bought and sold, and it is more difficult to characterise the taxpayer’s purchase was part of a hobby; the taxpayer was more likely to have a substantial aspect of seeking an exchange gain or at least storing value, as opposed to personal use or enjoyment.

17.01.2022 Investors Rush Housing Market in August The effects of June/July rate cuts and APRA changes have continued to flow through to housing finance. Investor lending drove this result, growing 5.7% m/m in August the strongest result since September 2016. This supports concerns that the RBA’s rate cuts are flowing through more intensely into housing compared with other key parts of the economy, including household consumption and businesses. While we believe we’re currently seeing ...a pop rather than the beginning of a v-shaped recovery in the housing market, the increases in prices and mortgage demand are likely to be a concern for the RBA, particularly given record high household debt. Investor lending was up 5.7% m/m in August ex-refinancing, the second-strongest monthly result since May 2015 and a continuation of investor demand after a 4.7% m/m result in July 2019. Annual growth in investor lending is still sharply negative(-13.0% y/y to July), however this is the smallest negative result in almost two years. Owner-occupier lending grew 1.9% m/m in August ex refinancing. Annual growth is still slightly negative (-1.7% y/y), but it is the smallest negative result since June 2018, when y/y owner-occupier demand growth was still positive. Regulatory easing in July (APRA relaxed the 7%+ floors on mortgage serviceability) has heightened the effects of rate cuts, by allowing lower rates to more directly affect serviceability assessments. Optimism in the housing market following a sharp uptick in Sydney and Melbourne prices may have also spurred on extra demand from investors.

17.01.2022 Link to Register for Job Keeper Payment https://www.ato.gov.au/general/gen/JobKeeper-payment/

16.01.2022 Federal Government Coronavirus Economic Stimulus Stage 2 (Subject To Pending Legislation) The Federal Government has announced stage 2 of its economic plan to cushion the economic impact of coronavirus (COVID-19). There are four parts to the economic plan, they are listed below. Boosting Cash Flow for Employers Income Support for Individuals...Continue reading

16.01.2022 https://www.brisbanetimes.com.au//blank-cheque-fears-of-bl

15.01.2022 House prices turning bullish Christopher Joye House price bears are turning bullish...Continue reading

15.01.2022 Christmas break with the kids

15.01.2022 Prime Minister Scott Morrison has revealed further details around the provision of rent relief to commercial tenants as the SMSF industry seeks further clarity on the issue. In a media briefing in Canberra on Friday, Mr Morrison said the national cabinet has been working on an industry code of practice for commercial tenancies. However, Mr Morrison said that the code has not got to the point the national cabinet believes it needs to be to ensure a sufficient security for tena...Continue reading

15.01.2022 Stimulus not hitting the desired target, labour market to soften There is little evidence of the expected (and hoped for) positive impacts of rate and tax cuts on the private sector aside from in the housing market. Following last Friday’s disappointing 0.4% rise in August retail sales,... ANZs- Roy Morgan consumer confidence fell 2.1% during the week, meaning it’s back below the long-run average. Although households still feel quite positive about their current finances, recognising the impact of tax and interest rate cuts on their budgets, they are worried about the economic outlook, and so unwilling to increase spending. This is consistent with the Westpac consumer confidence measure, which fell 5.5% to a four-year low in October. Business confidence hasn’t fared any better, deteriorating to a six-year low in September. Business conditions saw a minor improvement from their five-year low, but key indicators, including profitability, trading and forward orders, remain well under long-run averages. Although the employment index looks more positive, it is still signalling an approaching slowdown. So it seems the housing market alone is responding to the monetary stimulus, as well as regulatory easing. Investor lending was up 5.7% m/m and owner-occupier lending was up 1.9% m/m in August. This is consistent with the rebound in auction clearance rates and prices in the month. What to watch RBA Minutes, Oct (15 Oct): We’ll be looking for clues as to the timing of the next rate cut given the dovish tone in the post-meeting statement. RBA’s Debelle speech (17 Oct): The address by the Deputy Governor at the CFA Societies Australia Investment Conference in Sydney is as yet untitled. Labour Force, Sep (17 Oct): Unemployment is likely to steady at 5.3%.

14.01.2022 https://www.abc.net.au//changes-jobkeeper-and-job/12476174

14.01.2022 Emily my eldest daughter - beautiful

14.01.2022 Mortgage approvals soar to new heights By Charbel Kadib 12 October 2020 An unprecedented spike in owner-occupied demand has lifted the value of home loan approvals to a record high, the latest ABS data has revealed....Continue reading

14.01.2022 Please get in quick for Covid affected business -- 10k Qld government grant -- if you need help please call. 20% of the quota filled yesterday. https://www.business.qld.gov.au//advice-su/grants/adaption

13.01.2022 My good friend Dan -- JB she is so beautiful. He helmed her to a great win at this years St Helena Cup with the Flock of Seabirds Team

13.01.2022 Responsible lending ‘pendulum’ has ‘swung too far’: Lowe By Charbel Kadib 17 August 2020 The Reserve Bank governor has criticised recent interpretations of responsible lending obligations, stating that banks should not bear total responsibility for a borrower’s failure to repay their loan....Continue reading

13.01.2022 Accessing CGT exemption for main residence previously owned solely by spouse A private binding ruling demonstrates that a taxpayer maybe CGT exempt when disposing their share of a property that they did not own until after they ceased living in it, if their spouse nominates that property as their main residence for the relevant period. The basic case is that a taxpayer’s main residence maybe fully exempt from CGT when they dispose of their interest under ITAA 1997 s 118-110.... In this scenario, the taxpayer’s spouse purchased a dwelling, Dwelling A. The taxpayer moved into Dwelling A with the spouse. After a few years, the couple moved out to travel around Australia and rented out Dwelling A to a tenant for less than six years. On return from travelling, the taxpayer purchased land and built another house. The spouse transferred 50% ownership interest in Dwelling A to the taxpayer. The taxpayer and the spouse subsequently sold Dwelling A. According to the ruling, there is nothing to prevent either spouse from nominating the other’s dwelling as their main residence even though they did not have an ownership interest in that dwelling. In the present situation, because Dwelling A was the spouse’s main residence at relevant times, the taxpayer is entitled to nominate Dwelling A as their main residence for that period as well. This is so notwithstanding that the taxpayer did not acquire a legal ownership interest in the property until after the taxpayer ceased living in the property. In addition, if the taxpayer nominates Dwelling A as their main residence, the absence choice in ITAA 1997 s 118-145 will also apply, such that the taxpayer will be entitled to a full main residence exemption on their share of the eventual sale of the property.

13.01.2022 HomeBuilder Provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. HomeBuilder will assist the residential construction market by encouraging the commencement of new home builds and renovations this year. HOMEBUILDER Summary HomeBuilder is a time-limited grant program to help the residential construction market to bounce back from the Coronavirus crisis. HomeBuilder will provide ...Continue reading

13.01.2022 $130bn JobKeeper payment passes Parliament The governments $130 billion JobKeeper payment passed Parliament late on Wednesday night, and should see up to 6 million Australians benefit from a $1,500 fortnightly wage subsidy from May. This unprecedented level of financial support will save millions of jobs and keep families together, businesses in business and preserve the productive capacity of the Australian economy, the Treasurer said following the legislations passage.... The $1,500 per fortnight JobKeeper payment is the equivalent of about 70 per cent of the median wage and represents about 100 per cent of the median wage in some of the most heavily affected sectors, such as retail, hospitality and tourism, Treasurer Josh Frydenberg explained. It will be available to full-time and part-time workers, sole traders and casuals who have been with their employer for 12 months or more. Importantly, it will apply to the many Australians working in the not-for-profit sector. As of Tuesday afternoon, over 700,000 businesses had registered for this support, with that number said to be continuously growing. Subsidy to businesses The JobKeeper payment is a subsidy to businesses and will be paid to employers, for up to six months, for each eligible employee that was on their books on 1 March 2020 and is retained or continues to be engaged by that employer, the Treasurer explained earlier. While employers will receive a payment of $1,500 per fortnight per eligible employee, every eligible employee must then receive at least $1,500 per fortnight from this business, before tax. The program commenced on 30 March, with the first payments to be received by eligible businesses in the first week of May as monthly arrears from the Australian Taxation Office. Eligible employers are described as businesses structured through companies, partnerships, trusts and sole traders, as well as charities, with annual turnover of less than $1 billion and a reduction in revenue of 30 per cent or more since 1 March 2020 over a minimum one-month period. Employers with an annual turnover of $1 billion or more would be required to demonstrate a reduction in revenue of 50 per cent or more to be eligible. "Combined with the governments previous actions, this totals $320 billion or 16.4 per cent of GDP in economic support to Australian businesses, households and individuals affected by the coronavirus puts Australia in the best possible position to bounce back stronger than ever," the Treasurer reiterated on Wednesday. Businesses can apply for the payment online and are able to register their interest via ato.gov.au.

13.01.2022 ‘Substantiation will be a key focus’: ATO drums in tax time 2018 hit list The tax office has further detailed what type of work-related expenses will be in focus this tax time and signalled a particular focus on documentation where red flags are automatically triggered in its system. As part of its broader and heavily heralded clampdown on work-related deductions, the ATO said today that substantiation will be bumped up its priority list when it assesses suspect claims.... It’s important that you have a record of the expense and can demonstrate how you calculated your claims. Every year we disallow lots of claims because there is no evidence to prove the expense. Yet it’s so easy to keep an electronic record, ATO assistant commissioner Kath Anderson said. ‘Other’ work-related expenses will be an area of focus for record-keeping, after $7.9 billion in claims were recorded last year between about 6.7 million Australian taxpayers. Expenses of this nature can include home office, union fees, mobile phone and internet, overtime meals and tools and equipment. The ATO is also warning against claiming private expenses where they are bundled with work expenses. We are seeing quite a few examples of people trying to claim the whole expense, including the private portion. Like some who incorrectly claim their entire phone and internet bundle, and others who claim an overseas study trip even though they had a holiday as part of the trip, Ms Anderson said. Up to the commissioner level, the ATO has been publicly pushing its compliance focus on work-related deductions for several months. The ATO’s campaign has triggered concerns from professional associations. Most recently, CPA Australia said work-related deductions could well be on the chopping block in the May federal budget. We are of course waiting on the data, but CPA Australia is concerned that if the commissioner can’t administer the current laws, there may well be a policy response required, head of policy and corporate affairs at CPA Australia, Paul Drum, told Accountants Daily last week. Given the government’s focus on returning the budget to surplus, and its axeing of popular deductions for property investors last year, CPA’s hypothesis could come to fruition, but it would likely be to the detriment of small business and individuals. CPA Australia maintains its strong support for an equitable income tax system where all taxpayers regardless of type are able to claim tax deductions for qualifying expenses they have incurred in the derivation of their income, CPA Australia said in its pre-budget submission. If the evidence shows the need for policy reform in this area it is important that any changes do not abrogate the right of all taxpayers to make any claims for WREs at all, CPA Australia said.

13.01.2022 https://www.health.qld.gov.au//non-essential-business-clos

12.01.2022 Supporting businesses to retain jobs Last updated: 30 March 2020 FACT SHEET JOBKEEPER PAYMENT $1500 Per fortnight per employee for up to 6 months ECONOMIC RESPONSE TO THE CORONAVIRUS...Continue reading

12.01.2022 $130bn JobKeeper payment passes Parliament The government’s $130 billion JobKeeper payment passed Parliament late on Wednesday night, and should see up to 6 million Australians benefit from a $1,500 fortnightly wage subsidy from May. This unprecedented level of financial support will save millions of jobs and keep families together, businesses in business and preserve the productive capacity of the Australian economy, the Treasurer said following the legislation’s passage.... The $1,500 per fortnight JobKeeper payment is the equivalent of about 70 per cent of the median wage and represents about 100 per cent of the median wage in some of the most heavily affected sectors, such as retail, hospitality and tourism, Treasurer Josh Frydenberg explained. It will be available to full-time and part-time workers, sole traders and casuals who have been with their employer for 12 months or more. Importantly, it will apply to the many Australians working in the not-for-profit sector. As of Tuesday afternoon, over 700,000 businesses had registered for this support, with that number said to be continuously growing. Subsidy to businesses The JobKeeper payment is a subsidy to businesses and will be paid to employers, for up to six months, for each eligible employee that was on their books on 1 March 2020 and is retained or continues to be engaged by that employer, the Treasurer explained earlier. While employers will receive a payment of $1,500 per fortnight per eligible employee, every eligible employee must then receive at least $1,500 per fortnight from this business, before tax. The program commenced on 30 March, with the first payments to be received by eligible businesses in the first week of May as monthly arrears from the Australian Taxation Office. Eligible employers are described as businesses structured through companies, partnerships, trusts and sole traders, as well as charities, with annual turnover of less than $1 billion and a reduction in revenue of 30 per cent or more since 1 March 2020 over a minimum one-month period. Employers with an annual turnover of $1 billion or more would be required to demonstrate a reduction in revenue of 50 per cent or more to be eligible. "Combined with the government’s previous actions, this totals $320 billion or 16.4 per cent of GDP in economic support to Australian businesses, households and individuals affected by the coronavirus puts Australia in the best possible position to bounce back stronger than ever," the Treasurer reiterated on Wednesday. Businesses can apply for the payment online and are able to register their interest via ato.gov.au.

11.01.2022 Changes to Job Keeper The federal government has committed an extra $15.6 billion into the JobKeeper scheme and will revise eligibility requirements, given the economic effect of the Victorian resurgence. Treasurer Josh Frydenberg has announced that some of the previously announced JobKeeper changes would be softened given the impact of the resurgence of coronavirus in Victoria.... Previously, businesses were going to have to show declines in turnover in the June and September quarters to qualify for the subsidy after 28 September. However, this has now changed so that they will only have to show a fall in turnover in the September quarter compared with a comparable period in 2019. This change has largely been brought in so that Victorian businesses that were faring well before the second lockdown came into effect in Melbourne would not be disqualified from the subsidy should their turnover fall in the September quarter (for example, due to the enforced business closures that came into effect late on 5 August.) Moreover, after 4 January, businesses and not-for-profits will have to show a fall in the December quarter compared to a comparable period the year before instead of having to demonstrate a fall in turnover in each of the June, September and December quarters to access the payment. To claim for staff, an employee would have to have been on the books as of 1 July 2020 (instead of 1 March 2020, as previously announced). The changes will apply nationwide, and will cost the budget $15.6 billion, with the vast majority (around $13 billion) of the expansion expected to go to businesses in Victoria given Melbournes second lockdown. The move takes the original $70-billion package to over $100 billion. Treasurer Josh Frydenberg commented: Its a very substantial commitment,. Were now going to have JobKeeper at $101 billion, the single largest program that any Australian government has ever undertaken in terms of economic support. Prime Minister Scott Morrison told 2GB radio this morning: [This is about] saving lives and saving livelihoods. The JobKeeper program is there when the virus hits and its hit hard in Victoria in particular. I mean, these changes apply right across the country, by the way, not just in Victoria. Therell be some additional people who get access to it, we expect in other states and territories, but its principally Victoria. He continued: It takes the total bill now over $100 billion dollars. But its been one of the most successful programs of its kind in the world.

11.01.2022 https://www.facebook.com/PeerAccountants//1429311833914733

11.01.2022 Ministerial Statement on the Economy, Parliament House, Canberra The economic impact of the crisis...Continue reading

11.01.2022 For all Business across Queensland Home confinement Direction This direction applies to all residents of Queensland....Continue reading

11.01.2022 A business that fulfills the JobKeeper eligibility criteria in April will continue to receive the wage subsidy until the end of the JobKeeper period on 27 September, even if they experience a boost of revenue before then, the ATO has confirmed. Businesses that met the JobKeeper eligibility criteria upon their enrolment will continue to receive the $1,500 wage subsidy per fortnight even if they experience a boost in revenue in subsequent months, Deborah Jenkins, Deputy Commiss...Continue reading

10.01.2022 RBA reveals race-day rate verdict The central bank has announced its monetary policy decision for the month of November. The Reserve Bank of Australia’s (RBA) monetary policy board has held the official cash rate at 0.75 per cent, in line with market expectations....Continue reading

10.01.2022 Now Live! The lowest Ongoing Variable Rate 2.19% Variable Owner Occupier /Investment Principal and Interest starting from 2.44% . Conditions Apply . Please Apply within

10.01.2022 A long-held plan for the Australian Taxation Office to have the power to tell credit reporting bureaus about outstanding tax debts has resurfaced with legislation introduced The Treasury Laws Amendment (2019 Tax Integrity and Other The new Tax Office powers contained in the bill would allow taxation officers to disclose to credit reporting bureaus when a business had a debt of $100,000 for 90 days or more, provided they meet certain safeguards.... The policy would only apply in cases where the company had refused to engage with the tax office over the debts. The plan has been in the works since 2016 and after extensive consultation, the initial threshold of $10,000 in tax debts has been lifted to $100,000. The policy is expected to net at least $30 million over the forward estimates through clawing back unpaid tax debts. Council of Small Business Organisations Australia Peter Strong said the business community had worked for years with policymakers to ensure the plan had required safeguards. Businesses who do the right thing are sick of being penalised for taking on a customer [which might have] this massive debt to the ATO. CreditorWatch chief executive Patrick Coghlan "You can't say they haven't consulted, they have consulted very widely. And basically, you should always engage with the tax office," he said. Credit reporting agencies welcomed news the plan was back on the table, saying it would have flow-on effects for when individuals and businesses needed to check the creditworthiness of a business. "There's a real positive side to it. Businesses who do the right thing are sick of being penalised for taking on a customer [which might have] this massive debt to the ATO. There are huge burdens that they can be hiding," chief executive of CreditorWatch, Patrick Coghlan said. When introducing the legislation, assistant treasurer Michael Sukkar said the measure "will encourage businesses to engage with the ATO and repay their debt in a more timely manner". A spokesperson said of the 1.1 million tax debt payment plans undertaken by taxpayers in the 2017-18 financial year, 800,000 were for small businesses. "Even if you feel you have left it too late or your debt is becoming unmanageable, give us a call. It is never too late to engage with us," a Tax Office spokesperson said. The bill also included a range of other small-business focused tax measures, including a further tightening of the small business capital gains tax concession and the blueprint for rolling out an e-invoicing standard in Australia. Treasury has opened consultation on the disclosure of tax debts bill, inviting submissions from the community over the next month.

10.01.2022 Rate Cuts fuelling speedy housing recovery New data shows national dwelling values rose 1.2 per cent throughout October, the biggest monthly gain seen since May 2015, according to CoreLogic. CoreLogic’s Home Value Index results for October show an increase in national dwelling values of 1.2 per cent from September, reportedly the largest month-on-month uptick in value seen since May 2015....Continue reading

10.01.2022 November Rate Cut 'Materially less probable' The latest inflation data would likely provide the Reserve Bank with some flexibility concerning the timing of its next cut to the cash rate, according to ANZ Research. The Australian Bureau of Statistics (ABS) has released its latest Consumer Price Index, reporting headline inflation of 0.5 per cent over the September quarter in line with market expectations....Continue reading

09.01.2022 https://www.ato.gov.au/General/JobMaker-Hiring-Credit/ Please enquire within if you need help. Thanks John #incentives #jobmaker

09.01.2022 RBA governor defends stance on negative interest rates By Charbel Kadib 18 August 2020 Reserve Bank governor Philip Lowe has hit back at claims that the central banks stance on negative interest rates is putting bank profits ahead of jobs....Continue reading

08.01.2022 Keeping consistency with last year's budget, the $20,000 instant asset write-off will be extended again for small businesses. A business with an aggregated turnover less than $10m is eligible to immediately write-off an asset costing under $20,000 if installed and ready for use by 30 June 2019. Clients can now disregard any potential cash flow issues with purchasing a new asset as the large immediate write-off was due to end at 30 June 2018. Subsequently, any small business pool which goes under $20,000 as at 1 July 2018 may be entitled to a full write-off next year.

08.01.2022 It started yesterday no Loan Mortgae Insurance 5 % deposit for First Home Owners please see below

08.01.2022 Rebekahs 18th Birthday - Time flys doesn't it.

08.01.2022 RETAIL TRENDS 2018 Top retail trends for 2018 Alibaba. eBay. ASOS. These are all names synonymous with the changing face of retail. And now Amazon has entered the Australian market. But it’s not all doom and gloom. Below, we share our top retail predictions for 2018 and what they mean for you....Continue reading

07.01.2022 $10,000 grants to provide fast relief for NSW small businesses battling COVID-19 Published 3rd April, 2020 Share this page Facebook...Continue reading

07.01.2022 Vehicle Finance available from 4%. Apply with us today

06.01.2022 Check if your business can take advantage of these small business tax concessions before 30 June, including: Immediate deductions for prepaid expenses if your turnover is less than $10 million and you've paid for expenses (such as rent, registration fees, insurance or advertising) before June 30 and these end in next financial year, you can claim them as deductions in this years tax return. Instant asset write-off you can claim an immediate deduction for the business por...tion of the cost of an asset in the year it's first used or installed ready for use. Accelerated depreciation for primary producers if you're a primary producer, you can claim deductions for fodder storage assets, and fencing and water facilities. Simplified rules for trading stock if the estimated difference between your 201920 opening and closing trading stock is $5,000 or less, you dont need to do a stocktake. Just report the same amount for your opening and closing stock in your tax return. Deductions for professional expenses for start-ups if your turnover is less than $10 million, you may be able to claim certain start-up expenses (such as professional, legal and accounting advice, and government fees and charges) as deductions in this years tax return. Find out more: Learn more about these concessions and others at Concessions at a glance https://www.ato.gov.au//concessio/concessions-at-a-glance/

06.01.2022 Pressure on the RBA to cut rates mounts This week’s events have likely pushed the RBA closer to cutting rates at the October Board meeting. As we expected, the unemployment rate edged up to 5.3% in August. While this was accompanied by a solid rise in employment, the reality is there is too much spare capacity in the labour market and this is weighing on wage growth and, ultimately, preventing the RBA from achieving its inflation mandate. Moreover, uncertainty about the impac...Continue reading

05.01.2022 Plan your recovery by completing a FREE 5-minute risk diagnostic on your business Get your business back on track!

05.01.2022 Would you walk away from your current lender to save $87.35 per month? Paul from Melbourne is. See, Paul (and I) think about this differently.... It's actually $28,301.40 he is saving because he has his mortgage for another 27 years. Then with our re-Mortgage Method, he'll save another $21,449.53 and slash 5 years and 4 months off his mortgage. I don't know too many people that wouldn't cross the road for $48,781.65. I certainly would. p.s. his loan amount is only $250,758 p.p.s. his new bank is also giving him a $2k refinance bonus.

05.01.2022 Despite talk of market jitters, Brisbane home values actually grew in April, as did values in several other capital cities across Australia. Brisbane values gained 0.3 per cent, placing it second only to Sydney which saw 0.4 per cent growth according to the latest CoreLogic Home Value Index published on Domain. Is this an early indicator that prices might hold steady throughout the COVID-19 challenges? Well, no. The data is showing softening in some capital city markets alrea...dy. Although housing values were generally slightly positive over the month, the trend has clearly weakened since mid-to-late March, when social distancing policies were implemented and consumer sentiment started to plummet, CoreLogic head of research Tim Lawless said. Thankfully, Brisbane is shielded from some of the major challenges that will likely have some impact on Australias property markets. Sydney and Melbourne were most exposed to drops in overseas migration and their already low rental yields were expected to drop further as rents dropped. Both cities were already facing affordability challenges before COVID-19. Hobart too was expected to see a greater impact with a significant portion of its workforce employed in accommodation, food services, the arts and recreation sectors, all of which have been hard hit by the social distancing restrictions. While it remains way too early to know how the pandemic will truly affect property markets Domain senior research analyst Nicola Powell said support measures in place from government and banks will help mitigate any extreme levels of distressed selling. Check out changes in capital city home values for April: Sydney 0.4% Brisbane 0.3% Perth 0.2% Canberra 0% Hobart -0.1% Melbourne -0.3%

05.01.2022 https://www.ato.gov.au//Good-news-for-instant-asset-write/

04.01.2022 Another great day at QCYC winter series with great photos by Fiona and a special thanks to Layla for taking tequila up after the second start was hilarious from our view

03.01.2022 Refinance Home Loans What does it mean? Refinancing a home loan is the term used when a homeowner swaps mortgages. In this scenario they could:... Go to a different lender, which takes over the existing mortgage There are many reasons that homeowners may choose to refinance. Some of these include: Saving money: Refinancing could help a borrower take advantage of a better deal, such as a lower interest rate, which could potentially save thousands of dollars off? the lifetime cost of a loan. Borrowing more: It could be possible for some borrowers to change the conditions of their loan, such as increasing the amount borrowed, if they switch lenders. Restructuring: It may be possible to, for example, move from principal-and-interest repayments to interest-only repayments. Bundling: Moving all their banking business to a single financial institution could allow a borrower to access package deals or other perceived benefits. Consolidating debts: In some circumstances, it may also be possible to consolidate multiple debts into the one home loan when refinancing. It could be wise to consider financial advice before doing so, however, as there can be risks associated with this. How to refinance a mortgage There are a few ways that homeowners can approach refinancing, but it could be a good idea to start by working out what youre paying at the moment, then doing some research into what interest rates are currently on offer in the market. Know your mortgage: Record the vital stats of your mortgage, such as what interest rate your lender is currently charging you, what your monthly repayments are, the loans fees and charges and a rough estimate of how much the loan will cost you over its life. A mortgage repayment calculator could help. It could also be helpful to know how much equity you have. Conditions could differ depending on if the mortgage is on an investment property or a home youre living in. Research home loan rates: Use your broker to compare loans on their database. It will allow you to see what loans are on offer in your state or territory, their advertised interest rates and comparison rates, and a calculation of what the monthly repayments on each of them could be. Negotiate for a better deal including any offers or any special benefits you might receive Investigate other lenders: If you find a deal thats worth exploring, your broker can approach that lender to find out more. A low rate isnt the only factor to consider when judging a loan. Other factors could play a part, such as if it comes with any features, such as an offset account or redraw facility, extra fees or similar considerations. Consider if you need to seek professional financial advice.

03.01.2022 NAB reduces interest rates for new Base Variable Rate Home Loans effective Thursday 5 December 2019 Effective Thursday 5 December 2019, NABs Base Variable Rate special offer for new lending will be as follows: Owner occupier Principal & Interest 80% 3.09% p.a.

03.01.2022 ATO driven to scrutinise car claims this tax time The Australian Taxation Office (ATO) has announced that it will be closely examining claims for work-related car expenses this tax time as part of a broader focus on work related expenses. Assistant Commissioner Kath Anderson said over 3.75 million people made a work-related car expense claim in 201617, totalling around $8.8 billion. That’s a lot of money and Australians expect us to ensure people are not over-claiming....Continue reading

01.01.2022 Green shoots are beginning to emerge in the housing market, with growing signs of a recovery following a prolonged period of subdued activity, which saw national home values fall 8.3 per cent peak-to-trough and mortgage approvals fall by over 20 per cent in the year to May 2019. The latest data from property research group CoreLogic revealed that national home values increased 0.8 per cent in August the first monthly increase since the downturn commenced while the lates...t Lending to Households and Businesses data from the Australian Bureau of Statistics revealed that the value of home loan approvals increased by 5.1 per cent (seasonally adjusted terms) in July the largest monthly increase since March 2015. The improvement has been attributed to a range of positive market developments over the past few months, which include public policy certainty off the back of the federal election, the Reserve Bank of Australia’s back-to-back cuts to the cash rate in June and July, and the Australian Prudential Regulation Authority’s changes to its lending guidance.