Stones Sharp in Kew, Victoria | Accountant

Stones Sharp

Locality: Kew, Victoria

Phone: +61 3 9853 0641

Address: 35 Cotham Road 3101 Kew, VIC, Australia

Website: https://stonessharp.com.au

Likes: 13

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• Tax preparation service
• Accountant
• Financial service

24.01.2022 FBT & Vehicles Under COVID-19 Restrictions. #stonessharp #accounting #COVID19

23.01.2022 Will you be required to lodge a Taxable Payments Annual Report (TPAR)? https://taxandsupernewsroom.com.au/covid-19-could-mean-mo/ #covidbusiness #TPAR #contractors

23.01.2022 The ATO has issued an urgent warning about a sophisticated scam which has resulted in millions of Australians divulging personal information.

19.01.2022 Sound and sensible Taxation advice will help you negotiate and manage your Superannuation Fund without falling prey to illegal activities aimed at self-managed Superannuation Funds, which can result in significant taxation penalties.

19.01.2022 This week is SCAMS Awareness Week. Protect your personal & financial information. #stonessharp #protectyourpersonaldata #scamsawareness

17.01.2022 A great read for business owners as we approach 2018 - how fast has this year gone!

17.01.2022 The Andrews Government has just announced a $3 billion package to assist Victorian businesses through the #covid19 lockdown which will include: $1.1 billion in cash grants for SME to companies "most affected" by coronavirus restrictions; The establishment of a $251 million Licensed Venue Fund with grants of $10,000 to $30,000;... Payroll tax - deferred for businesses with payrolls up to $10 million for the full 2020-21 financial year; A further $137 million in tax relief on top of an existing $1.5 billion tax relief program ; $20 million for small businesses to help them access digital programs such as Shopify, training and workshops to adapt their businesses to online operations; $15.7 million for an export recovery package to address logistics and supply chain issues caused by the pandemic, and establish new export channels; and Grants of up to $20,000 to businesses in alpine resorts. The relief measures include $27 million of savings from waiving of liquor license fees, $41 million savings from a 50 per cent cut in stamp duty for commercial and industrial properties in regional Victoria. A planned increase in the landfill levy to be deferred for six months. More details to come. Shane Borg FCPA | CA Stones Sharp Accountants #accountants #tax #stimulus #cpafirm

17.01.2022 We are proud to share this feature article on Stones Sharp highlighting how we work with small to medium businesses. At Stones Sharp we understand that you need more than maths to take an SME from passable to prosperous. From our initial engagement we build strong relationships with our clients to get a better understanding of our clients businesses, cashflow and our clients themselves with a view to fully understand what effective advice and direction our clients need. I f...ind out what keeps them awake at night and try to get them to see through the short-term problems. This philosophy is key to be able to truly understand and adequately advise and mentor our clients through both the good and tough times of operating a SME. Learn more: http://bit.ly/384OdaS

17.01.2022 Hi everyone, it's been a massive year for us at Stones Sharp, and our business is growing and changing for the better every day. Going forward, we'd love to broaden our reach online and plan on sharing some useful & insightful content, as well as our latest news. If you could support our page with a like that would be very much appreciated - we'd also love to hear about any topics you'd like covered in the accounting & business advisory space :) - Stones Sharp Team.

15.01.2022 For all businesses and individuals in areas impacted by the bushfires, the ATO has announced various measures to help. These include: automatic deferrals for lodgement of income tax, SMSF, FBT and excise returns and activity statements, and their associated payments, until 28 May 2020 (so there is no need to apply for a deferral) automatic priority for any refunds due the remission of interest and penalties applied to tax debts since the... commencement of the bushfires the suspension of debt recovery action - for taxpayers with a tax debt or outstanding obligation, the ATO will not institute recovery action until at least 28 May 2020 the temporary suspension of current audit activity interest-free loans will be available with a repayment holiday of up to two years Contact us to learn more about the new ATO bushfire measures: http://bit.ly/2UtE8kD

13.01.2022 Find out the latest news on JobKeeper 2.0 #stonessharp #accounting #covid19 #jobkeeper

10.01.2022 More often than not it can be unclear whether your labour costs are tax deductible. The ATO's draft taxation ruling saying that labour costs will not be deductible if they are incurred specifically for constructing or creating capital assets perhaps creates uncertainty, particularly considering capital assets can be intangible (e.g. licences, intellectual property and trademarks) as well as tangible. Talk to your tax agent if you are not sure how labour costs should be trea...ted. And even if labour costs are not deductible when you incur them, you may be able to write them off as part of the cost of a depreciating asset. Contact us: http://bit.ly/2uqLRp2

07.01.2022 Habits are learned behaviours, which can become automatic after enough repetition

06.01.2022 Stones Sharp - Supporting our clients through Covid19 & Beyond https://insideretail.com.au//stones-sharp-supports-their-c

04.01.2022 Extension of the JobKeeper Payments - The Factsheet #accounting #JobKeeperPayment

03.01.2022 "Parliament has just passed legislation to include GST in the Director Penalty Notice Regime, and it comes into effect on 1 April 2020. To recap; A Director Penalty Notice is a Notice that the Australian Tax Office (ATO) can send to a director that can make that director personally liable for, currently, two types of tax debts of a company Pay As You Go (PAYG) and Superannuation Guarantee Charge (SGC) liabilities. The addition of Goods and Services Tax (GST) to this... list means the ATO will be able to pursue a company director personally for the majority of a companys tax debt. The now passed version of the legislation makes the new powers to pursue GST forward reaching only - so the ATO can only chase GST debts incurred in the period starting 1 April 2020 or later with a DPN. Our reading of the bill says the same 3-month lockdown rules that currently apply to PAYG will be applied to GST as well. The current lockdown rules state that if PAYG was reported more than 3 months after the due reporting date (or not at all) then the DPN is Locked Down which means placing the company into Administration or Liquidation will not remove the penalty. So What Should You Do? The general rule is to make sure you report PAYG, Super and now GST on time, even if the company cant pay it. If your client has received a DPN, call us for a free appraisal of your options. Send us a copy of the notice and our advisors will walk you through step by step what each part means. Act Fast! If you have a DPN the clock is ticking!" Source: Insolvency Solutions Group

02.01.2022 There will be days where staff and business owners come under a great deal of pressure. Hold your composure, stay calm and cool-headed. You've got this

01.01.2022 The Capital Gains Tax (CGT) concessions for small business are complicated. Two recent cases have not made them any easier to understand. In the first case, a property used to store materials, tools and equipment for use in a building, bricklaying and paving business was not considered to be used in the course of carrying on that business. This was because storing materials did not have a direct functional relevance to the daily income-producing activities of the business. ...As a result, the property was not an active asset and therefore the capital gain made on the sale of the property did not qualify for the CGT concessions. In the second case, 3 shareholders sold their shares in a company (each owned one-third) to a single purchaser. The sale contract included a restrictive covenant whereby the 3 vendors agreed not to compete with the purchaser for 5 years (not uncommon when a business is sold). One of the vendors argued that as the restrictive covenant did not come into existence until the sale contract was concluded, its value should be excluded in working out if he satisfied the maximum net asset value test ($6 million). Under that test, only assets in existence just before the sale contract was concluded would be taken into account. If the value of the shares for the purposes of that test was the amount specified in the sale contract, the vendor would not satisfy the test and would not qualify for the CGT concessions. The vendor was unsuccessful as the restrictive covenant impacted on the value of the shares. The purchaser would naturally want the covenant as the success of the business depended on the contribution of the 3 shareholders. The value of the shares was increased by the covenant. Without it, the sale price would have been less. If contemplating selling your business, talk to your tax agent. It is advisable to plan well in advance if you want to take advantage of the generous CGT small business concessions: http://bit.ly/38daQe6