Teamwork Accounting in Point Cook, Victoria | Tax preparation service

Teamwork Accounting

Locality: Point Cook, Victoria

Phone: +61 1300 832 648

Address: Shop 28A Sanctuary Lakes Shopping Centre 3030 Point Cook, VIC, Australia

Website: https://teamworkaccounting.com.au

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25.01.2022 Businesses (including sole traders, companies, partnerships or trusts) and NFP organisations are eligible to receive the cash flow boost if: You are a small or medium business entity or NFP of equivalent size (that is, an entity with aggregated annual turnover less than $50 million). You held an ABN on 12 March 2020.... You made payments to employees subject to withholding (even if the amount you were required to withhold is zero), such as salary and wages: director fees eligible retirement or termination payments compensation payments voluntary withholding from payments to contractors. On or before 12 March 2020, you lodged at least one of: a 201819 income tax return showing that you had an amount included in your assessable income in relation to you carrying on a business an activity statement or GST return for any tax period that started after 1 July 2018 and ended before 12 March 2020 showing that you made a taxable, GST-free or input-taxed sale. for the cash flow boosts if you change the way you operate for the sole or dominant purpose of becoming entitled to cash flow boosts when you would otherwise not be entitled. If you dont meet these general eligibility criteria but think you may still be entitled to the boost, there are special eligibility rules. You can get in touch via our website or by sending us a message here if you need assistance with this. #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #taxaccountant #tax #taxagent #bookkeeper #bookkeeping #melbournesmallbusiness #pointcookbusiness #smallbusiness #melbournetradie #melbournewomeninbusiness #melbournebusinesswomen #melbournetrades #melbournelife #victoria See more

25.01.2022 Due to the Stage 3 Stay at Home restrictions weve taken the decision to not hold any face-to-face appointments for the next six weeks. : 1 Email us your information. We will complete the return and contact you if we have any queries. The completed return will be emailed back to you for e-signing. 2 Post or drop off your information advising us as to how you would like your tax return sent to you for signature (pic...k up, mail or email). 3 Telephone or Zoom meeting. We have found that the easiest way to do these returns is by getting all the information during the meeting and then completing the return afterwards. Please email or contact our office to make an appointment time for these meetings. #tax #accountant #pointcook #werribee #melbourne #smallbusiness #taxagent #bookkeeper See more

24.01.2022 If your tenants have stopped paying rent in full or in part due to Covid-19 (or if you offered them a reduced rental) can you still claim the full deductions available on the property? . If, due to Covid-19, tenants are unable to uphold their payment obligations under the lease agreement and you are still incurring normal expenses, then you will be able to claim them. #accountant #pointcook #melbourne #werribee #hopperscrossing #rentalprop #rentalpropmelbourne #tax #taxagent #bookkeeper #bookkeeping

24.01.2022 What do you need to know about the Jobkeeper Extension? The extension to the JobKeeper payment, which was due to end on the 27th September 2020, received Royal Assent on 3 September 2020. There are several important changes to take note of. Get a full summary of changes and how they impact your business.... https://teamworkaccounting.com.au/covid-19/ If you have any queries, please contact us and we will assist wherever possible. #jobkeeper #jobkeeperpayment #melbourne #pointcook #accountant #tax #taxagent #smallbusiness #melbournesmallbusiness

24.01.2022 Business are having a hard time at the moment. If yours made a tax loss you may be able to: Offset the loss in the same income year against other assessable income, or Carry forward the loss and claim it as a business deduction in a later year.... If youre a sole trader or in a partnership and want to offset a tax loss, first check if you meet at least one of the non-commercial losses requirements. If you do meet the requirements, then you can offset the loss against other assessable income (such as salary or investment income) in the same income year. If you dont meet the requirements, you can defer the loss or carry it forward to future years. For example, you can offset it when you next make a profit. If your business is a company, you can generally choose the year you want to claim a deduction. A tax loss is when the total deductions you can claim, excluding gifts and donations, are greater than your total income for an income year. Chat to us if you need any assistance. #tax #taxagent #businesstax #taxaccountant #smallbusiness #pointcook #werribee #hopperscrossing #melbourne #bookkeeping #bookkeeper #smallbusinessmelbourne #melbournebusiness

23.01.2022 If youre a director or a shareholder of a small business this guide will help you understand when you can take money out of a company, when you can use its assets and how to correctly report these transactions. It covers things like: How can I use my companys money or assets for myself? How to record these transactions... Salaries, wages and directors fees Fringe benefits Repayment of loans to the company Dividends Unfranked Division 7A Dividends Practical examples Take a look: https://teamworkaccounting.com.au//business-ac/resources/ #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #taxaccountant #tax #taxagent #bookkeeper #bookkeeping #melbournesmallbusiness #pointcookbusiness #smallbusiness See more

22.01.2022 After the last pay event for the financial year, employers need to make a finalisation declaration. : 14 July if they have 20 or more employees 31 July if they have 19 or fewer employees.... #accountant #pointcook #melbourne #werribee #hopperscrossing #tax #taxagent #bookkeeper #bookkeeping #smallbusinessaccountant #taxaccountant #taxaccountantpointcook #melbournesmallbusiness #pointcookbusiness #smallbusiness #victoria See more

21.01.2022 Small business owners: Check out this handy guide. All the info youll need to successfully this year. Covering things like: Types of expenses you can claim Records you need to keep... Separating business and travel expenses Employee travel expenses When to keep a travel diary Practical examples Take a look: https://teamworkaccounting.com.au//business-ac/resources/ #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #taxaccountant #tax #taxagent #bookkeeper #bookkeeping #victoria See more

21.01.2022 Everyone has a superfund, but not everyone has their own superfund. Take a look at some of the essentials you need to consider: Number of members... Withdrawal rules Discounted tax rates Types of contributions Contribution caps You can get all the details here: https://teamworkaccounting.com.au/self-managed-super-fund/ #smsf #superfund #super #smsfaccountant #accountant #pointcook #werribee #hopperscrossing #tax #taxagent #taxaccountant #melbournelife #victoria

20.01.2022 The fringe benefits tax (FBT) taxi travel exemption now includes travel in ride-sourcing vehicles. This means youll be eligible for the exemption for travel provided to your employees in a single trip to or from the workplace: on or after 1 April 2019... in a licenced taxi or or other vehicle (other than a limousine) involving the transport of passengers for a fare - such as a ride-sourcing vehicle. Remember, you may also be eligible for the FBT taxi travel exemption where the travel is in relation to the sickness or injury of an employee. #tax #accountant #pointcook #melbourne #werribee #hopperscrossing #taxaccountant #taxagent

18.01.2022 Here is a list of common types of income that must be declared on your tax return. This remains the case even if the amount of income has been affected by the COVID-I9 crisis. Employment income (including JobKeeper payments)... Super pensions, annuities and government payments Investment income (including interest, dividends, rent and capital gains) Business, partnership, and trust income Foreign income Income from crowdfunding (for example donations received for a venture in which you intend to make a profit) Income from the sharing economy (for example Airtasker, Uber or Airbnb) Other income, including compensation and insurance payments, discounted shares under employee share schemes, some prizes and awards JobSeeker or other relevant welfare payments. Visit our site for the complete list, documents required as well as what can and cant be claimed: https://teamworkaccounting.com.au/tips-prepare-tax-return/

18.01.2022 Where are you putting your money to work? A clear financial budget will help you decide where to put your money within your business and what to do with the remaining profits. Chat to us if you're need of some budgeting skills. #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #taxaccountant #taxaccountantpointcook #tax #taxagent #businessaccountant

18.01.2022 Business owners operating under Covid-19 restriction are facing the reality of a decreased potential to earn income but, at the same time, . What can you do? Besides some creative trading ideas, your starting point has to be taking the time to draw up a realistic cashflow prediction.... You need to understand what income you can under restrictions so you can prioritise expenses and identify coming your way. Were helping clients with this at the moment. If you need assistance, get in touch. #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #cashflow #tax See more

17.01.2022 COVID-19, floods, or bushfires may have reduced your residential rental property income. This could be a result of tenants paying less or entering deferred payments plans, or travel restrictions which have affected demand for short-term rental properties. New legislation also affects the tax deductions that owners of vacant land can claim.... In this in-depth article, the ATO explains the tax considerations for reduced rental income, short term rentals, vacant land deductions and the most common mistakes made when submitting a return. https://www.ato.gov.au//Own-a-rental----what-you-need-t/ #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #taxaccountant #victoria #melbournebuilder #tax #taxagent See more

16.01.2022 A survey by CBInsights, that covered employees and founders from 101 startups, analyzed the reasons why those companies failed. The main results were as follows: 42% of startup businesses fail because there’s no market need for their services or products.... 29% failed because they ran out of cash. 23% failed because they didn’t have the right team running the business. 19% were outcompeted. 18% failed because of pricing and cost issues. 17% failed because of a poor product offering. 17% failed because they lacked a business model. 14% failed because of poor marketing. 14% failed because they ignored their customers. 29% failed because of cash flow problems. It’s an issue we’ve seen many times in businesses of all sizes. The right accountants can help you manage your cash flow properly and give you the information you need to run your business well. Chat to us if you want to manage your cash flow better. #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #taxaccountant #taxaccountantpointcook #tax #taxagent #businessaccountant #bookkeeping #bookkeepingservices #cashflow

16.01.2022 As a small business operating from home what expenses can you claim? Test your knowledge in the example of a sole trader, Rocco. The types of deductions available and your ability to claim them depends on a variety of factors.... Click the link for more details or send us a message if you need advice. https://teamworkaccounting.com.au//business-acc/resources/ #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #taxaccountant #tax #taxagent #bookkeeper #bookkeeping #melbournesmallbusiness #pointcookbusiness #smallbusiness #melbournetradie #melbournewomeninbusiness #tradieladyclub @ Point Cook, Victoria See more

16.01.2022 While the ATO has lately been focusing on the rollout of stimulus measures, it has also pointed out that audit work is not off the table completely. For the SMSF sector, reciprocal SMSF auditing (where two auditors agree to audit each other’s funds) are expected to be an ATO focus when auditing gets back into full swing. #smsf #superfund #super #superfunds #accountant #superaccountant #smsfaccountant #tax #taxagent #pointcook #melbourne #werribee #hopperscrossing

14.01.2022 Every year we see people tripped up by tax time myths. Unfortunately, this often results in slowing their return down when either they or we realise their mistake as the return is processed, - Assistant ATO Commissioner Karen Foat. . Last year many people in their rush to lodge early forgot to update bank details and delayed their refund. ... . Its important to remember that if youre claiming under the shortcut method, you cannot claim a separate additional deduction for any expenses you incur as a result of working from home. . If you are working from home due to COVID-19, but need to travel to your regular office sometimes, you still cannot claim the cost of travel from home to work as these are still private expenses. . $ $ ! We often see people claiming a deduction despite not purchasing anything. When we question them, we often find its because they thought everyone is entitled to claim $300. . - ! Each year we see people trying to claim personal expenses under the guise of work-related expenses, but you can only claim for expenses that are directly related to earning your income. . The ATO automatically includes relevant information in peoples returns. For most, this information is ready by the end of July. Lodging before the ATO has automatically included this information for you can slow down your return. For more details: https://www.ato.gov.au//Don-t-let-these-Tax-Time-myths-s/ See more

13.01.2022 Any interest earned on company loans, whether it’s to employees or any other parties, is considered assessable income for tax purposes. You may also be liable for Fringe Benefit Tax (FBT) if the loan was for private use and you charged the employee an interest rate lower than the statutory rate. #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #taxaccountant #taxaccountantpointcook #tax #taxagent #businessaccountant #bookkeeping #bookkeepingservices #pointcookbusiness

13.01.2022 To claim a deduction for work-related expenses: you must have spent the money yourself and not been reimbursed it must be directly related to earning your assessable income you should have a record to substantiate your claim.... When your expenses meet these criteria, heres a list of the things you may be able to claim. Vehicle and travel expenses Clothing, laundry and dry cleaning expenses Facemasks, gloves and PPE related to Covid-19 Gifts and donations Home office expenses Interest, dividend and other investment income deductions Self education expenses Tools and other equipment Union fees Costs associated with managing your tax affairs Income protection insurance Overtime meals After tax personal super contributions and more If youre not sure what deductions you are eligible for send us a message or get in touch via our site. For the complete list, documents required as well as what can and cant be claimed visit: https://teamworkaccounting.com.au/tips-prepare-tax-return/ #melbourne #pointcook #werribee #tax #accountant #taxagent #personaltax #victoria #taxclaims

12.01.2022 Are you paying more tax than you need to? Our experience working with more than 2000 different clients of all different shapes and sizes means that we have the specialist knowledge to help your business plan and manage your tax obligations. Because the taxation environment is always changing and evolving we take a proactive approach to your businesses tax management and planning. ... You can find our 2020 Corporate Checklist here: https://teamworkaccounting.com.au//busines/tax-management/ #melbourne #accountant #tax #taxagent #smallbusiness #melbournesmallbusiness

12.01.2022 To assist taxpayers experiencing financial difficulty as a result of COVID-19, the ATO is providing added flexibility to manage your PAYG installments to suit your circumstances. You can vary your installments (including varying to zero) if you think using the present amount or rate will result in you paying too much by installments when compared to your estimated tax for the year. Your varied amount or rate will apply for all your remaining installments for the income year,... or until you make another variation. Furthermore, if you vary your installment amount or rate it can also be possible to claim a credit for installments you have already paid for the current income year. In an added element to the PAYG withholding regime, the ATO has stated that where you choose to vary your PAYG installment amounts due to the effects of COVID-19, it will not apply penalties for excessive variation or charge interest on those installments. You can lodge a variation of PAYG installments on your business activity statement (BAS) or installment notice and of course we can help you do this or provide guidance. #payg #tax #accountant #pointcook #melbourne #werribee #hopperscrossing #taxagent #bookkeeper #bookkeeping

12.01.2022 Check out this handy guide for small business owners. All the info youll need to successfully claim vehicle expenses. Covering things like: Business structure Business vs private use... Record keeping cents/km method Logbook method Types of vehicles Depreciation Types of expenses you can claim Practical examples Take a look: https://teamworkaccounting.com.au//business-ac/resources/ #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #taxaccountant #tax #taxagent #bookkeeper #bookkeeping #victoria See more

11.01.2022 The JobKeeper payment has been extended. There are several important changes to note: The periods it will run for Changes to the periods which the turnover test applies The different payment rates per fortnight... Get the summary of changes and how they impact your business. https://teamworkaccounting.com.au/covid-19/ #jobkeeper #jobkeeperpayment #melbourne #pointcook #accountant #tax #taxagent #smallbusiness #melbournesmallbusiness

11.01.2022 The Federal Budget measure of allowing businesses to fully write-off eligible assets may be helpful to some Australian businesses, even though the measure is temporary. Just to recap, businesses with aggregated annual turnover of less than $5 billion will be able to deduct the full cost of eligible capital assets acquired from 7:30pm AEDT on 6 October 2020 (Budget night) and first used or installed by 30 June 2022. Full expensing in the year of first use will apply to new ...depreciable assets and the cost of improvements to existing eligible assets. For small- and medium-sized businesses (with aggregated annual turnover of less than $50 million), full expensing also applies to second-hand assets. #tax #accountant #pointcook #pointcookbusiness #melbourne #taxdeduction #taxwriteoffs #instantassetwriteoff #victoria

11.01.2022 What is the ATO looking out for? Heres a list of deductions you usually cant claim on your tax return.... Travel between home and work, which is generally considered private travel. Car expenses, unless you are transporting bulky tools or equipment that you need to do your job, and that your employer requires you to transport (and there is no secure area to store the equipment at work). Car expenses that have been salary sacrificed. Meal expenses, unless you were required to work away from home overnight. Private travel, including any personal travel portion of work-related travel. Everyday clothes you bought to wear to work (for example, a suit or black pants), even if your employer requires you to wear them. Self-education expenses where there is no direct connection to your current employment. Phone or internet expenses that relate to private use. Visit our site for the complete list, documents required as well as what can and cant be claimed: https://teamworkaccounting.com.au/tips-prepare-tax-return/ #tax #taxagent #taxaccountant #melbourne #pointcook

09.01.2022 The complete list of: What documents are required Types of income that must be declared Deductions you may be able to claim... Expenses that you cannot claim and What the ATO is looking for https://teamworkaccounting.com.au/tips-prepare-tax-return/ #accountant #pointcook #werribee #hopperscrossing #tax #taxagent #taxaccountant #smallbusinessaccountant #taxaccountantpointcook #melbournesmallbusiness

08.01.2022 The monthly declaration needs to be made of the following month for which you are claiming the . If you are applying for the first time, you must complete the enrolment and identify your eligible employees in the month you intend to claim for. #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #taxaccountant #tax #taxagent #bookkeeper #bookkeeping #jobkeeper #melbournetradies #melbournetrades #melbournelife #victoria

08.01.2022 Heres a list of the docs youll need to submit your personal tax return. Visit our updated guide which explains: What docs you need... Types of income the must be declared Deductions you may be able to claim Expenses that you cannot claim and the ATO is looking for https://teamworkaccounting.com.au/tips-prepare-tax-return/ #accountant #pointcook #werribee #tax #taxagent #melbourne

07.01.2022 You must update your ABN details within 28 days of becoming aware of changes. Its easy to forget to do so but its important to keep your contact details up to date because: Emergency services and government agencies use ABN details to help identify and contact businesses during emergencies or times of crisis (For example bushfires and COVID-19). ... If your details are out-of-date you risk missing important assistance, updates or access to grants. Keeping your information up to date is also important as other businesses and government agencies use the ABN to identify whether a business is genuine. You can update your ABN details online through ABR online services using myGovID and RAM. If youre no longer in business, cancel your ABN. You can do this online and its effective immediately #smallbusinessmelbourne #melbournebusiness #pointcook #werribee #hopperscrossing #tax #taxagent #bookkeeper #abn

07.01.2022 During this time of heightened scam activity, the ATO is encouraging individuals and businesses to: Use multi-factor authentication where possible and don’t share your password with anyone. Run the latest software updates to ensure operating systems security is current. Secure your private wi-fi network with passwords (not the default password) and do not make financial transactions when using public wi-fi networks.... Exercise caution when clicking on links and providing personal identifying information. Only access online government services via an independent search not via emails or SMS. If in doubt, call the ATO on an independently sourced number to verify an interaction. Educate your staff on cyber safety and scams. To report a data breach or scam visit ato.gov.au/onlinesecurity #tax #business #accountant #pointcook #melbourne #werribee #hopperscrossing #cybersecurity #besafe #onlinesecurity #financialsecurity #securefinances #melbournebusiness

07.01.2022 Wondering how to purchase property through your SMSF? If your business has funds available, this may be a good time to consider just that - but take a look at some of the things you need to think about: You can purchase property through your super as long as it is not for personal use.... The exception for this being commercial property rented to your business at market related rates. You can also borrow through your SMSF to fund the purchase of the property but there are very strict rules. There are only a limited number of banks who will lend money to SMSFs due to the amount of regulations they need to conform to. Get all the details here: https://teamworkaccounting.com.au/self-managed-super-fund/ #smsf #superfund #super #smsfaccountant #accountant #pointcook #werribee #hopperscrossing #tax #taxagent #taxaccountant #melbournelife #victoria

06.01.2022 All the info needed to successfully lodge a tax return. The ATO recently published an essentials guide covering every step in submitting a successful tax return. Whether you prefer to submit yourself or use a professional tax agent this resource will help you prepare well.... https://www.ato.gov.au//Lodging/In-detail/Tax-essentials/ #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #taxaccountant #tax #taxagent #bookkeeper #bookkeeping See more

06.01.2022 Were no IT experts but its important to note that recently cyber crime has increased as more business activities migrate online. What we can tell you is that cyber insurance can be regarded as business-critical insurance because statistics show that the likelihood of a claim occurring within a cyber insurance policy is now as high, if not higher, than making a claim against your business insurance or professional indemnity insurance. Businesses need to understand exactly wh...at these insurance policies are and what they are not covered for. At a minimum, a cyber policy should provide a 24/7 breach response service (including IT forensic services), breach response management, credit monitoring, public relations crisis management, civil and regulatory defense costs and penalties, cyber extortion costs, business interruption cover and cyber terrorism. If you dont have any cover it might be worth chatting with a cyber security professional. #cybersecurity #onlinedata #smallbusiness #accountant #pointcook #werribee #hopperscrossing #tax #taxagent #taxaccountant #melbournelife #victoria

06.01.2022 SMSF Trustees should be aware that the in the number of trustees entering into arrangements to buy and develop property that is subsequently sold or leased. While property investment by SMSFs is not prohibited the ATO does have strict compliance and legal guidelines that need to be adhered to. Some of the primary concerns are around borrowed funds and loans, the beneficiary of borrowed funds, whether payments out of the SMSF contr...avene the payment standards and whether investment activity takes place through a joint venture, partnerships or ungeared related unit trust or company. For more clarity on these issues, visit our website https://teamworkaccounting.com.au/ser/specialist-services/ and . #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #taxaccountant #tax #taxagent #smsf #superfund #super See more

06.01.2022 New residential property is a popular investment for many and can be especially so for self-managed superannuation funds. However the ATO is concerned that not every investor in residential property is fully aware that there are scenarios that may bring with them unexpected GST obligations. Visit the ATO website for more info on this: https://www.ato.gov.au//your-in/property/gst-and-property/... #property #propertytax #gst #taxaccountant #pointcook #melbourne #victoria #taxagent #accountant

05.01.2022 Have you had to consider pausing or closing your business due to Covid-19? Heres all the tax info youll need. This includes registrations (ABN and GST), tax and super obligations, disposing of capital assets, Single Touch Payroll (STP) and record keeping.... https://www.ato.gov.au//TaxTimeToolkit_SB_Pausing-or-perma #melbourne #pointcook #werribee #hopperscrossing #accountant #tax #taxagent #bookkeeper #bookkeeping #melbournebusiness #business See more

05.01.2022 INSTANT ASSET WRITE OFF 31 DEC 2020 A reminder that the Instant Asset Write Off has been extended until 31 Dec 2020. Businesses with a turnover of up to $500 million a year will be allowed to continue writing off newly purchased assets worth up to $150,000.... To get your claim right, remember: Check if youre an eligible business Both new and second-hand assets can be claimed provided each asset costs less than $150,000 Assets must be first used or installed ready for use between 12 March and 30 June for a claim for the 2019-20 year, or between 1 July and 31 December for a claim for the 2020-21 year A car limit applies to "luxury" passenger vehicles. The limit is $57,581 for the 2019-20 income tax year If your asset is for business and private use, you can only claim the business portion You can claim a deduction for the balance of your small business pool if it was less than $150,000 at 30 June 2020 (before applying depreciation deductions) Different eligibility criteria and thresholds apply to assets first used, or installed ready for use, prior to 12 March 2020. The threshold applies on a per asset basis, so eligible businesses can - provided each costs less than $150,000. #accountant #pointcook #werribee #hopperscrossing #tax #taxagent #taxaccountant #smallbusinessaccountant #taxaccountantpointcook #melbournesmallbusiness #pointcookbusiness #smallbusiness #melbournetradie #melbournewomeninbusiness #melbournebusinesswomen #melbournetrades #melbournelife #victoria See more

04.01.2022 Recently the government made a determination that permits companies to hold annual general meetings by electronic format. Companies may execute a document, without using a common seal, by electronic communication. The determination is to be repealed on 6 November 2020. The provision states, among other things:... all persons entitled to attend the meeting must be given a reasonable opportunity to participate without being physically present all persons participating electronically are taken to be present at the meeting a vote taken at the meeting must be taken on a poll, and not by a show of hands a proxy may be appointed using one or more technologies specified in the notice of meeting a notice of meeting may be given, and any other information to be provided with a notice of meeting, or at or in relation to a meeting, may be provided, using one or more technologies to communicate to those entitled to receive notice of the meeting: - the contents of the notice and the other information; - or details of an online location where the notice and the other information can be viewed or from where they can be downloaded. #accountant #pointcook #werribee #hopperscrossing #tax #taxagent #taxaccountant #smallbusinessaccountant

04.01.2022 Businesses within metropolitan Melbourne and Mitchell Shire that are affected by the return to Stay at Home restrictions may be eligible for a -, $, under the Business Support Fund - Expansion program. Applications for the program close on 19 August 2020. This program is in addition to the first round of the Business Support Fund, which closed on 1 June 2020.... For more info such as what support is available, who is affected, what businesses can apply, how funding can be accessed and more, visit the business victoria website: https://www.business.vic.gov.au//b/business-support-fund #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #taxaccountant #tax #taxagent #bookkeeper #bookkeeping #smallbusiness #victoria See more

04.01.2022 Avoid the common mistakes that new business owners make. In our 20+ years of experience helping local businesses grow, we’ve seen a few things that help you succeed, as well as a few things that can lead to failure. Take a look at the list here: https://teamworkaccounting.com.au/7-finance-tips-how-to-st/ #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #taxaccountant #taxaccountantpointcook #tax #taxagent #businessaccountant #bookkeeping #bookkeepingservices

04.01.2022 We're hosting a free webinar for anyone who has queries about WorkCover Insurance. It's free - next week Tuesday 23rd, 12.00pm. Message us if you're keen or email [email protected] to be registered. The presentation will be conducted by Risk Strategies Pty Ltd and will cover:... What is WorkCover Insurance? Do I need WorkCover? How do I register? Understanding your premium renewal notice. How your premium is calculated. What to look for on your premium notice. How you can reduce the amount you will pay. #workcover #healthandsafety #insurance #workplace #hr

03.01.2022 For many retirees, the significant losses in financial markets as a result of the COVID-19 crisis is having a negative effect on the account balance of their superannuation pension or annuity. To assist retirees, the government has reduced the minimum annual payment required for account-based pensions and annuities, allocated pensions and annuities and market-linked pensions and annuities by 50% in the 201920 and the 202021 financial years. Superannuation and a...nnuity providers calculate the minimum annual payment required at 1 July each year, based on the account balance of the member or annuitant. The 50% reduction will apply to the calculated minimum annual payment. For further clarity on this, get in touch with one of the experts on our SMSF team: https://teamworkaccounting.com.au/se/specialist-services/ #smsf #superfund #super #smsfaccountant #pointcook #melbourne #werribee #hopperscrossing #taxaccountant #tax #taxagent #bookkeeper #bookkeeping #melbournelife #victoria #selfmanagedsuper See more

03.01.2022 Can I continue to claim deductions for my rental property if Im using it (or letting friends and family stay in it) to quarantine during Covid-19? No. If the property is being used for personal use it will increase the the private usage factor of the property and decrease the available deduction. #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #taxaccountant #tax #taxagent #bookkeeper #bookkeeping

02.01.2022 If you enrolled for the JobKeeper Payment and identified your eligible employees, you need to make a business monthly declaration to the ATO. You will be able to do this from the 1st to the 14th day of each month, to receive reimbursements for the payments you have made to your employees in the previous month. As part of this declaration, you need to:... ensure youve paid your eligible employees at least $1,500 (before tax) in each JobKeeper fortnight youre claiming for. reconfirm your eligible employees and your contact and financial details. provide information on your current and projected GST turnover. This isnt a retest of your eligibility - it will indicate how your business is progressing. If your eligible employees change or leave your employment, you need to notify the ATO through this monthly declaration in order to adjust your JobKeeper payments. To lodge your business monthly declaration: log into the business portal using myGov ID, or ATO online services through myGov if youre a sole trader. complete this step each month you want to claim payments until the end of the program. #accountant #jobkeeper #melbourbnebusiness. #pointcook #melbourne #werribee #hopperscrossing #victoria #taxaccountant #taxagent. #tax #bookkeeper #bookkeeping

02.01.2022 The threshold for bankruptcy has been temporarily increased from $5,000 to $20,000. This should provide protection to those who have been severely affected by Covid-19 and are facing massive amounts of debt. It means that unsecured creditors cannot attempt to recover monies owed to them via methods such as garnishee orders or the sheriff seizing your goods.... Note that secured creditors (those who hold security over an asset such as a house or car) can still repossess those assets. If this applies to you then seek advice from a free financial counsellor and discuss a debt repayment strategy. #accountant #pointcook #melbourne #werribee #hopperscrossing #smallbusinessaccountant #taxaccountant #tax #taxagent #bookkeeper #bookkeeping #melbournelife See more

01.01.2022 Not sure how to pass the time in lockdown? The ATO is offering a range of useful webinars to help business owners with a variety of issues including: Considering your small business viability... Tax support for small businesses Cash flow for small business success Budgeting for your commitments Registering income and more Take a look on their site https://www.ato.gov.au//Small-bus/Small-business-webinars/

01.01.2022 When will you receive payment? If you lodged a request for early access to super due to Covid-19, your superfund should make the payment to you within 5 working days after it has been approved , unless they need to undertake further checks. #smsf #super #superfund #accountant #superfundaccountant #smsfaccountant #pointcook #melbourne #werribee #hopperscrossing #victoria #tax #taxagent