Smart Tax & Accounting Adelaide in Plympton, South Australia, Australia | Business consultant

Smart Tax & Accounting Adelaide

Locality: Plympton, South Australia, Australia

Phone: +61 411 596 006

Address: 1 lincoln Avenue 5038 Plympton, SA, Australia

Website: https://www.smartonlinetax.com.au

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23.01.2022 JobKeeper 2.0 - new eligibility date 1st July - date for processing FN10 for new participants As you know, the key date for assessing employee eligibility has changed from 1 March to 1 July 2020. This means that you may be able to receive JobKeeper for more of your employees. ... This change applies from fortnight 10, which started on 3 August. For the fortnights commencing on 3 August and 17 August 2020 (fortnights 10 and 11), you will have until 31 August 2020 to pay new eligible employees $1,500 per fortnight. You'll be able to claim reimbursement for these new eligible employees from 1 September when you lodge your August monthly declaration. Source ATO

22.01.2022 Extention of the Jobkeeper Payment

21.01.2022 New SA Paid Pandemic Leave Scheme The government will introduce a Paid Pandemic Leave Scheme in South Australia, offering ‘isolation’ payments of up to $1,500 for eligible workers who are required to quarantine. They can also be offered to those who care for someone required to quarantine, for up to 14 days following a positive COVID-19 test or as a result of a public health directive....Continue reading

20.01.2022 Unsure of what income to include in your tax return this year? Make sure you include your: salary and wages (JobKeeper payments and Eligible Termination Payment are included in your income statement) certain Centrelink payments (incl. JobSeeker) business income (from a partnership, trust or as a sole trader)... investment income (e.g. bank interest and dividends) foreign income other types of income (e.g. crowdfunding or from the sharing economy). If you’ve received a disaster recovery payment in relation to the 2019-20 bushfires you don’t need to include these on your tax return. Find out more at www.ato.gov.au//Income-and-deducti/Income-you-must-declare

19.01.2022 Working From home? Do you know your tax myths from tax facts? Test your working-from-home knowledge below as we set the record straight. Myth: If I use the shortcut method, I can claim 80 cents per work hour plus other equipment (that costs $300 or less) to use when working from home.... Fact: Under the shortcut method you can only claim 80 cents per work hour. This method covers all deductible expenses, including office furniture and technology. You can’t claim any other working from home expenses on top. Myth: I can claim everything I bought to work from home (new laptop, desk, toilet paper, tea or coffee and my kids’ education supplies). Fact: There are three methods you can use to calculate your working from home expenses. You can choose the method that will give you the best outcome but you must meet the eligibility and record keeping requirements. You cannot claim items such as toilet paper, tea, coffee or your kids’ education costs, these are private expenses. Myth: I can’t claim my working from home running expenses, even though I share the costs with my housemate because the bills aren’t in my name. Fact: Under the shortcut method multiple eligible taxpayers working from the same home can each claim 80 cents per work hour, even if the utility bill isn’t in your name. Find out more about working from home expenses @ ato.gov.au/home

19.01.2022 Wish you and your family happy diwali

16.01.2022 BUDGET 2020 GROSS DEBT UNEMPLOYMENT REAL GDP

14.01.2022 Phone ATO on 1800 008 540 to check. June 2020 phone scam threatening arrest and requesting personal details We're receiving reports of scammers sending members of the public automated phone calls pretending to be from the ATO, as well as other government agencies including Services Australia and the Department of Legal Services. These automated calls claim their TFN has been suspended and that there is a legal case against their name. The call tells people they must contact... the caller by pressing '1' or they will be referred to the court and arrested. If the person presses '1' and makes contact with the scammer they are typically told that their TFN had been suspended due to money laundering or other suspicious or fraudulent activity and that there are several allegations against them. They're then asked to provide the last four digits of their TFN, address, date of birth, name of their bank account, and the approximate amount of money in the account/s. Sometimes the scammer will ‘transfer’ the victim to the ‘police’ where they're told a case has been filed against them and they will be arrested unless they pay. Sometimes they advise the victim will receive mail to their home or that their bank accounts will be closed. If you receive this call hang up and do not provide the information requested. We will never send unsolicited pre-recorded messages to your phone or threaten you with immediate arrest. If you aren't sure whether an ATO call is legitimate, hang up and phone us on 1800 008 540 to check. Scammers are constantly developing new ways to steal from the community and will often try to take advantage of people when they are most vulnerable. You can help us stop scammers in their tracks by warning your friends and family to stay alert.

13.01.2022 If you are new to Australia it is important that you understand the Taxation System of Australia. International Students when you receive refund and when you pay tax? If your gross income ( income from TFN as a salary, Income form ABN as a subcontractor/business owner and other income like form share/interest and so on ) is Less than $21880.00 you will get refund of what ever TAX withheld by your employer or you paid to ato in advance as a TAX. if there there is no tax paid y...ou will not get any refund. I have two jobs on TAX! Your gross income form both jobs will be added and you pay tax. if you have jobs in tax and ABN income Your ABN net profit will be added tougher with TFN income to calculate TAX. all confusion can be easily cleared on 0411596006 why not call ?

08.01.2022 Focus areas for JobKeeper 2.0 With the JobKeeper extension now in place, the ATO has announced it will focus its compliance approach on two new areas, namely the actual decline in turnover test and the incorrect claiming of the higher-tier rate.

06.01.2022 Wish you and your family happy Diwali

04.01.2022 What is pre-fill information? To save you time and to help you get your tax return right, we partially complete your tax return with your financial information we receive from health funds, banks, employers, government agencies and more. You can check if we've received your information by starting your tax return with either myTax or a registered tax agent, or by following the links below.... Pre-fill information is usually available by late July. See if we have received information from: Employers Government agencies Private health funds Financial institutions (interest income) Companies (dividend income)

04.01.2022 Cryptocurrency ??? You may need to include into your personal tax return. Please call 0411596006 for more details.

03.01.2022 South Australia COVID-19 Restrictions The Premier of South Australia, the Hon Steven Marshall MP, has declared lockdown conditions for six days commencing from midnight tonight, 18 November 2020 in the hope to curb the spread of the current COVID-19 outbreak. During this period of lockdown, it is essential to follow the SA Government rules that have been established.... It will mean working with no face-to-face interactions with clients or anyone other than people living in same residence. Please feel free to call on 0411596006 or email on [email protected] for any enquires. Thank you Khagendra Sapkota Smart Tax & Accounting

03.01.2022 , , l SMART TAX & ACCOUNTING

01.01.2022 if you Buy or sell Cryptocurrency ATO got your incormation. 2019-20 CRYPTOCURRENCY DISPOSALS Your client held or disposed of cryptocurrency that may have resulted in a capital gains event. For more information go to https://www.ato.gov.au/taxtreatmentofcryptocurrencies for current information on your client’s tax obligations.