Sumz Plus Business Services | Financial service

Sumz Plus Business Services

Phone: +61 417 786 377

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• Businesses
• Tax preparation service
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21.01.2022 Whilst everyone is crowing about Chinese investment in Australia it is important to keep perspective by visiting the facts.

12.01.2022 Happy Australia Day everyone! May you enjoy all the things you love and share kindness and understanding with all.

11.01.2022 ATO flags potential $10k windfall for every new employee hired! Businesses looking to hire additional employees could be receiving up to more than $10,000 a year for every new worker hired, says Australian Taxation Office deputy commissioner James O’Halloran. The comments from Mr O’Halloran come as businesses can claim payments through the JobMaker Hiring Credit scheme, which is aimed at helping young people who have been disproportionally affected by COVID-19.... Eligible employers can receive payments for each eligible additional employee they hire between 7 October 2020 and 6 October 2021 of: up to $10,400 over a year for each one aged 16 to 29; and up to $5,200 over a year for each one aged 30 to 35. The ATO called on eligible employers to: register using ATO online services, Online services for business or the Business Portal, or through a registered tax or BAS agent; nominate their eligible new employees by having their employees complete a JobMaker employee notice, running payroll events and supplying the required additional information through their single touch payroll-enabled software; and claim using ATO online services, Online services for business or the Business Portal, or through a registered tax or BAS agent. Mr O’Halloran said eligible employers can start claiming payments in arrears every three months from 1 February 2021 for up to 12 months for each additional eligible employee. He encouraged business owners to check their eligibility as well as check the JobMaker Hiring Credit payment estimator to find out how much they may receive. The ATO is here to support employers access the government’s JobMaker Hiring Credit. If business owners need help, they should check out the range of resources available on our website, or speak to their registered tax or BAS agent, Mr O’Halloran said. Employers only need to complete three simple steps to receive the JobMaker Hiring Credit payments. Mr O’Halloran said the benefits for business are two-fold. Not only will the business receive stimulus support in response to the COVID-19 pandemic, they will also support a young person’s career. Helping young people who are unemployed secure jobs now will build their skills, improve their career prospects over their lifetime and support Australia’s economic recovery, he said.

03.01.2022 Wishing everyone a safe and joyful Christmas!

01.01.2022 How much should you pay yourself? Business owners are facing tough decisions in the current climate. Caught between retaining staff and keeping a business viable, there’s also the question of how much you can actually pay yourself. It’s no secret that a CEO that pays themselves before they pay their employees can badly affect morale. And it’s a particularly pertinent point to bear in mind as job support schemes wind down and redundancies appear on the horizon....Continue reading