Taxlink Professionals Pty Ltd | Finance

Taxlink Professionals Pty Ltd

Phone: +61 481 319 674

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24.01.2022 During Covid-19, many industries have struggled and many have expanded. Here are 5 industries in Australia hiring and thriving right now: 1. Finance and insurance - increase of 50,000 employees this year 2. Agriculture, forestry and fishing - hired 27,000 new employees ... 3. Electricity, gas, water and waste services - 32,400 new jobs this year 4. Healthcare and social assistance 5. Public administration and safety If you know someone who has lost their job and is looking for work, direct them to these industries. #tax #tax2020 #taxtime #taxtips #taxseason2020

24.01.2022 We get asked a lot of questions about cash flow boosts for businesses during COVID-19. Yes, the ATO confirmed that small to medium businesses that employ staff are eligible to receive up to $100,000 in cash flow boosts. But it doesn't necessarily mean every applicant will receive the full $100,000 amount.... Some of our clients have received $20,000. This will then be paid over three installments. If you have applied or want to apply, feel free to contact the Taxlink team on 0481 319 674 / [email protected] #tax #tax2020 #taxtime #taxtips #taxseason2020

21.01.2022 Finally some good news! Around 700K Australians will receive a small slice of $1 billion in unclaimed superannuation payments. The exact amount each Aussie will pocket will vary but it'll be an average of around $1,600, according to the Association of Superannuation Funds Australia (ASFA). ... If you want to find out if you'll get a refund, contact us to find out more. #super #superannuation

19.01.2022 "The 2020 budget looks likely to hand out billions in fast-tracked income tax cuts in effort to pull Australia’s economy out of its deepest recession since 1930." We will be monitoring this development very closely. #budget #budget2020 #tax #tax2020 #taxtime #taxtips #taxseason2020

19.01.2022 This is it! The deadline to lodge your 2020 tax return is this Saturday October 31. Please take note - scammers are taking advantage of the last minute dash by trying to steal people's identities and money.... The ATO even issued an alert in English, Nepali, Mandarin, Vietnamese, Spanish, Korean and Farsi about these scams. Please remember to complete your individual tax return this week. If you have any concerns, contact us. #tax #tax2020 #taxtime #taxtips #taxseason2020

18.01.2022 We came across this article and couldn't help but reflect about the relationship between money and happiness. Living in Australia, we are all driven to make more money. We think this will make us "happier". But it's not always the case.... This train driver is making $125,000 annually but he's looking for a way out. Why? In his own words: I'm on a 24/7 roster, work every other weekend and have to work weird, unsociable hours to make that money" A good reminder that following your passion is sometimes better for you than following the dollar. Happy Friday! #friday #reflection #money #happiness #fridaymood

16.01.2022 The ATO has received 8000 tip-offs about businesses and sole traders double-dipping on JobKeeper. The ATO also said 2200 employees have been found to be double-dipping on multiple payments. Caution - employers found to have knowingly ripped off the system face fines of up to $126,000 or 10 years in prison.... The good news is that while thousands of businesses have been told to repay JobKeeper overpayments, no financial penalties have been applied. If you're concerned you've made a legitimate mistake or need guidance, feel free to contact us. #tax #tax2020 #taxtime #taxtips #taxseason2020

16.01.2022 "How do I check my super?"" This is the most common question we get asked by many clients. There are two ways to check your super: ... 1. Through your tax agent or accountant. They can review your super balance via the ATO portal. The portal will have the latest breakdown of your super payments and accounts (if it's all updated). 2. You can self-review via your myGov account. Simply login into myGov, link the ATO to your account and you'll find your balance under the superannuation tab. If you get stuck or need help, shoot us a message! #tax #tax2020 #taxtime #taxtips #taxseason2020

15.01.2022 How every workday should begin! Today I'm having two coffees because it's a Friday. Wishing you all a great weekend!

15.01.2022 We know about JobSeeker and JobKeeper but not many have heard of JobMaker. Taxlink fully supports this program by the Federal government. Basically, any business that hires people aged 16-35 can claim up to $200 a week. Those aged 30-35 will merit a $100 credit. This will apply to every eligible employee hired in the next 12 months.... This infographic by Nine News summarises it perfectly. #tax #tax2020 #taxtime #taxtips #taxseason2020 #budget #budget2020 #jobmaker #jobkeeper #jobseeker

12.01.2022 Did you miss the October 31 deadline to lodge your personal tax? It's OK. You can breathe a sigh of relief. For taxpayers who have an accountant, you are eligible for a longer period to file your returns, up to May 2021. ... However you must be eligible. Contact us if you need assistance. #tax #tax2020 #taxtime #taxtips #taxseason2020

12.01.2022 We hope everyone enjoyed their long weekend. October is World Mental Health month and the theme for this year's campaign is 'Mental Health Matters'. 1 in 5 Australians is affected by mental illness. This includes depression, anxiety and substance abuse. We all know someone affected.... The Institute of Public Accountants (IPA) has done a great job in investing in mental health and providing a range of resources for members. If you need to talk about your mental health or know someone who needs help, reach out to Beyond Blue in the link below. #mentalhealth #WorldMentalHealth #worldmentalhealthawarenessweek #IPA

12.01.2022 JOBKEEPER 2.0 Over the past few months, many clients have asked me how they can access JobKeeper 2.0? The ATO has issued a new guidance to businesses about the JobKeeper extension. I will clarify this - one major point is businesses will NOT need to re-enroll into the program or re-assess employee eligibility. However if you are a sole trader, business director/owner or an employee, there are some things you need to know. ... This is one of the best explainers of how it works. #tax #tax2020 #taxtime #taxtips #taxseason2020 #jobkeeper #jobkeeperpayment

11.01.2022 Happy Friday! A friendly reminder to all our Taxlink friends, clients and colleagues to lodge your tax, if you haven't already done so. The deadline is October 31 - two weeks away.... #tax #tax2020 #taxtime #taxtips #taxseason2020

11.01.2022 Happy Monday! Great news to start the week - more and more Australians are returning to the workforce and many businesses are looking for workers. However the Federal government has sent a stern warning - anyone receiving JobSeeker will face penalties from 28 September if they fail to meet their mutual obligations requirements.... What this means: - From late September, anyone on unemployment benefits outside of Victoria will need to participate in appointments with their service provider, agree to a job plan and look for and accept suitable work. - Most job seekers generally need to look for up to eight jobs a month under the program If you need clarity on your personal situation, contact us. #tax #tax2020 #taxtime #taxtips #taxseason2020

08.01.2022 Tax cuts will start soon. All Australian workers will begin to see a tax reduction of as much as $47 a week as businesses finalise the new tax rates. Reminder - employers have until 16 November to ensure their payroll processes account for the Government’s $17.8 billion tax cuts.... Here is the breakdown of who gets the most from the tax cuts. #tax #tax2020 #taxtime #taxtips #taxseason2020 #taxcuts

08.01.2022 Happy Monday! This is an interesting study conducted by Openpay about the age most Australias start taking money seriously. The findings:... - Ages 21- 25 is when most Aussies start "financially adulting" - 1 in 3 start after 25 - 1 in 10 start in their 30s How old were you when you started taking your finances seriously? #moneytips #moneymatters #finances #personalfinance

06.01.2022 After speaking with many clients about their financial concerns, it has made me wonder how difficult the past 6 months have been for everyone. From job losses, health concerns, financial instability, super withdrawals and overall anxiety. Beyond individuals, entire families have been impacted.... Let's continue to be present and support one another during these tough times. It's the best way forward. Have a great weekend! Rabie Skaf, Taxlink Professionals #taxseason2020 #taxtips #tax #tax2020

05.01.2022 Happy Wednesday! The deadline to lodge your tax is 10 days away. Contact us if you need help with lodgements.... #tax #tax2020 #taxtime #taxtips #taxseason2020

05.01.2022 If you receive this email, delete it immediately. The ATO has issued a major warning about this scam targeting vulnerable Australian businesses. The email looks legitimate. It asks busineses to provide high resolution photos of the front and back of their Medicare card and driver’s licence, in order for the ATO to check JobKeeper and Backing Business Incentive Scheme.... If you've been targeted, please contact the ATO on 1800 008 540 to check its legitimacy, or report it to [email protected]. #scam #scammers #taxseason2020 #ScamAlert

05.01.2022 The weather is heating up. Summer is approaching. Remember the deadline to lodge your tax is October 31. It has been a difficult year. So many clients are stressed about their financial situation.... Lodge your returns now to avoid last minute lodgements. So you can enjoy the sunshine. Happy Friday! #tax #tax2020 #taxtime #taxtips #taxseason2020

04.01.2022 Spring has really turned up in Sydney! But before you get distracted by the beach, like this cat, remember to lodge your tax. The deadline to lodge your tax is October 31 - less than 23 days away.... Contact Taxlink if you need help. #tax #tax2020 #taxtime #taxtips #taxseason2020

04.01.2022 How much tax do you pay on your annual income?! The chart below shows the planned changes to income tax brackets, planned for 2022 and 2024. Background - the Federal government is considering bringing forward planned income tax cuts in an effort to help boost spending. If the 2022 tax cut is brought forward, Australians could expect a little more cash in their pockets this year. Exactly how much depends on what you earn.... (Source: PwC Australia) #taxseason2020 #taxtips #tax #tax2020

03.01.2022 Last week, the Federal government handed down the budget. A large focus was tax relief for individuals. Here's what it means: The gov brought forward stage two of its personal income tax plan by 2 years. So from 1 July 2020:... - the low-income tax offset will increase from $445 to $700 - the top threshold of the 19 per cent tax bracket will increase from $37,000 to $45,000 - the top threshold of the 32.5 per cent tax bracket will increase from $90,000 to $120,000 Also in 2020-21, low-and middle-income earners will receive a one-off additional benefit of up to $1,080 from the low- and middle-income tax offset or LMITO. If you have questions, contact us. #tax #tax2020 #taxtime #taxtips #taxseason2020 #budget #Budget2020

02.01.2022 If you've cancelled travel plans due to COVID-19, it's not necessarily a bad thing. Happy Friday! #moneytips #moneymatters #finances #personalfinance

01.01.2022 We are one day away from the October 31 deadline to submit tax forms. I have been reflecting on the past financial year, particularly the last 8 months of the COVID-19 pandemic and subsequent economic crisis. Here are three reflections I'd like to share:... 1. Mental health was a common pattern I found. Many of my clients experienced varying levels of stress, anxiety and depression due to the crisis. Some clients lost their jobs, some clients lost money, some clients had to let go of employees, some clients struggled to make ends meet. All of this stress put a severe strain on them individually and their families. Financial instability was the cause of mental stress for many this past financial year. 2. Government assistance was critical. I witnessed first-hand how vital the government grants were for clients. For example, Service NSW issuing the $10K grants to help businesses saved many from going under. The JobKeeper scheme was a life-saver for many - both businesses and employees. It was comforting to see the government come to the aid of so many struggling. 3. People are resilient. One client owns and runs a large warehouse. When COVID-19 hit, he acted quickly by managing his staff. He gave them shifts but also time off. The staff didn't lose their jobs due to JobKeeper. Additionally, the client managed to reduce his rent by 30% by negotiating with his landlord. And my client got the $10K grant to help keep the business going. I was blown away by my client's refusal to quit or let his staff suffer. He did everything in his power to stay alive and that he did! I am proud of all my clients for staying strong during one of the most difficult periods of our lives. Your resilience, strength and fortitude is a testament to who you are as people. Thank you again for trusting me and the Taxlink team this financial year. Here's to praying for a better 2021! Rabie Skaf Taxlink Professionals #reflection #tax #tax2020 #taxtime #taxtips #taxseason2020 #Coronavirus #coronavirus2020 #COVID19 #COVID #reflective