Tax Lounge in Rosehill, New South Wales, Australia | Accountant

Tax Lounge

Locality: Rosehill, New South Wales, Australia

Phone: +61 406 848 168

Address: 41 Weston St 2142 Rosehill, NSW, Australia

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

Likes: 74

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• Tax preparation service
• Accountant

21.01.2022 Are you a business receiving JobKeeper payments? If you are, you have until 14 October to make your declaration for payments made in September. Remember Sept...ember is the last month you can claim $1,500 per JobKeeper fortnight for your eligible employees. For more information check out our JobKeeper guides at www.ato.gov.au/General/JobKeeper-Payment/JobKeeper-guides/

16.01.2022 Rental property owners: Has your income from your property been affected by COVID-19? Our FAQs answer tax-time questions such as: What expenses can I claim i...f my tenants aren’t paying their rent under the lease agreement? If I decide to reduce the amount of rent I charge my tenants, will my deduction for rental property expenses be reduced? If I receive a back payment of rent or an amount of insurance for lost rent, do I have to include this as income? Find the answers to these questions and more at www.ato.gov.au//c/individuals-frequently-asked-questions/

15.01.2022 Businesses: The increased instant asset write-off has been extended to 31 December 2020! This means that eligible businesses can continue to invest in assets that cost less than $150,000 each Check out what you can claim at www.ato.gov.au//Simpler-depreciat/Instant-asset-write-off/

13.01.2022 https://www.service.nsw.gov.au//apply-small-business-covid

13.01.2022 WHY IT PAYS TO KEEP YOUR APPRENTICE - OR HIRE A NEW ONE In response to the ongoing Coronavirus situation, the Australian Government has announced a range of financial benefits to help small and medium businesses and keep Aussies in their jobs. This includes 50% wage subsidies for around 117,000 Australian apprentices and trainees.... This payment is for existing apprentices, as well as new employ of out-of-trade apprentices, and is up to $21,000 per eligible apprentice. Who is eligible? Wage assistance will be available to businesses who: Currently employ and retain an apprentice or trainee Have less than 20 full-time employees Large businesses and Group Training Organisations may also be eligible for these benefits if they employ an out-of-trade apprentice who has been in-training with a small business as of 1 March 2020 What benefits are available? The Australian Government is providing financial benefits to small and medium businesses to ensure they can continue to employ their apprentices and trainees. This includes a 50% wage subsidy to keep apprentices in their jobs. It is available for wages paid since January 1 2020 and will be available up to September 30 this year. Employers may receive up to $21,000 per eligible apprentice or $7000 per quarter. What to do if you think you’re eligible The stimulus package is focused on keeping businesses operational during this challenging time. You will be able to claim your wage subsidy by contacting your Australian Apprenticeship Support Network provider (who signed your apprentice up). Please note that employers will need to register for this assistance, starting the 2nd April 2020.

12.01.2022 SCAM ALERT! Government impersonation scams are rife during the COVID-19 pandemic, including this fake ATO email claiming to offer a tax credit due to COVID-19. Don’t click on any links or provide personal or financial information. Info via Scamwatch

11.01.2022 Great news we’ve extended the 80c per work hour shortcut method for claiming working-from-home expenses until 30 September 2020! With everything going on... right now, 12 months may seem a world away but, it’s important to keep good records now to make life easier when you lodge your tax return next year. For more info on claiming working-from-home expenses, visit www.ato.gov.au//deductions-you-can-c/home-office-expenses/

10.01.2022 SCAM ALERT We’re seeing a growing number of people making large payments for fake tax debts. Don’t get caught! These phone calls will tell you that you owe ...money and need to pay it straight away or you’ll be arrested. The scammer will try to keep you on the line until you pay, often by unusual methods such as bitcoin, pre-paid credit cards or gift cards. If you get a call like this, hang up and don’t provide any info. We’ll never: threaten you with immediate arrest send unsolicited pre-recorded messages to your phone keep you on the line until a payment is made request payment of debts via bitcoin, gift cards or other vouchers. Warn your family and friends to stay alert and visit our scams page to learn more: www.ato.gov.au//online-services/i/verify-or-report-a-scam/

07.01.2022 If you’ve received a government stimulus payment this financial year, do you know whether you need to include it in your tax return? Different payment types are... reported differently: JobKeeper payments if you’re an employee these will be included on your income statement as salary and wages or an allowance. JobSeeker payments need to be included in your tax return and will also be included on your Centrelink payment summary. Accessed super you don’t need to pay tax on COVID-19 early release of super amounts, so you don’t need to include this in your tax return. No need to manually fill this out, most info will be automatically included in your tax return by late July. For more info about other income you need to report, visit www.ato.gov.au//Lodging-your-ta/In-detail/Tax-essentials/

06.01.2022 The shortcut method for claiming your working-from-home expenses (80c per work hour) has been extended until 31 December 2020! Next year’s tax return mig...ht seem a world away, but keeping good records now will make life easier when you lodge next year. For more info on claiming working-from-home expenses, visit www.ato.gov.au//deductions-you-can-c/home-office-expenses/

06.01.2022 Licence fees waived for small business The NSW Government is waiving $50 million worth of licence fees for tradies and construction workers to provide some financial relief over the next 12 months. Licence application and renewal fees will be automatically scrapped for up to 200,000 home building contractors, trade or specialist contractors, and motor vehicle repairers.... For more information, visit: https://www.fairtrading.nsw.gov.au//fee-relief-for-busines

04.01.2022 Does your business rely on suppliers? If you answered yes, it’s important to know who you’re dealing with. By using ABN Lookup you can check everything from you...r suppliers ABN status and location, to whether they are registered for GST. So what are you waiting for? Join 1.5 billion others and start your search today at www.abr.business.gov.au/

02.01.2022 SCAM ALERT With tax time in full swing, beware of myGov-themed SMS and email scams! These messages will often ask you to click on a link to verify your deta...ils, and may seem to be legitimate because they show in your ATO or myGov SMS message thread. Don’t click any links, and don’t provide the information requested. A genuine ATO or myGov message will never ask you to access online services via a hyperlink. Warn your family and friends to stay alert and visit our scam alerts page to learn more: www.ato.gov.au//Online-serv/Identity-security/Scam-alerts/