Terry Bec & Associates in Wollongong, New South Wales | Tax preparation service

Terry Bec & Associates

Locality: Wollongong, New South Wales

Phone: +61 2 4229 8700

Address: 118 KEMBLA ST 2500 Wollongong, NSW, Australia

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

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• Business service
• Tax preparation service
• Accountant
• Financial service

10.06.2022 Stay-at-home orders currently in place across Greater Sydney including the Central Coast, Blue Mountains, Wollongong and Shellharbour will be extended until 11:...59pm Friday 30 July. In these areas, online learning for students will also continue for an additional 2 weeks. Restrictions in regional NSW remain the same.

03.06.2022 From 18 July, the COVID-19 Disaster Payments will be available to those outside declared hotspots in NSW that meet the criteria for the payment. Payments will ...also increase to: $600 if a person has lost 20+ hours of work a week $375 if a person has lost 8-20 hours of work a week. More info: https://bit.ly/disaster-payment

19.05.2022 Our online services will be unavailable from 11:30pm AEST Friday 18 June until 7:00am AEST Monday 21 June while we undertake essential system updates in prepara...tion for tax time. We apologise for the inconvenience and thank you for your patience and understanding. For more info and to subscribe to system maintenance updates, visit www.ato.gov.au/General/Online-services/System-Maintenance/

01.05.2022 Welcome back! Our office re-opens tomorrow morning from 8.30am. We hope everyone had a wonderful Christmas and New Year break. Just a few updates around the office. The office is COVID-19 safe, meaning if you visit the office you will be required to sign in using our QR code. If you do not have the QR facility or unsure how to use it our staff will be happy to assist you. In line with this we request any customer who is unwell please do not enter our office, we can assist you via phone or reschedule your appointment for another time.

18.04.2022 Employers: Your next super guarantee payments are due to your employees’ super funds by Wednesday 28 October. If you’re having difficulty meeting your super obl...igations because of COVID-19, contact us to discuss your situation and the options available on 1800 806 216. For more information on super guarantee due dates and payments, visit www.ato.gov.au//Paying-super-contributi/When-to-pay-super/

25.01.2022 Weve had a lot of interest in the JobKeeper Payment. Here are some answers to common questions we are seeing: Do I have to enrol for the JobKeeper Payment b...y a certain date? As long as you meet the eligibility requirements for employers, sole traders or other entities, you can enrol anytime up until the scheme closes. Can an employer choose not to participate in the JobKeeper Payment scheme? Even if an employer meets all the eligibility criteria, its up to them to decide if they would like to participate or not. Can an employer choose which employees they want to keep paying? No. If an employer decides to enrol for JobKeeper payments, they must identify all eligible employees. For more info, visit www.ato.gov.au/JobKeeper

25.01.2022 Not sure whether an email or SMS youve received from us is genuine? We do use email and SMS to communicate, but well never ask you to reply and provide person...al information like your Tax File Number (TFN) or bank account number. Well also never include a hyperlink directing you to log on to our online services. Stay up to date on our current SMS and email activities, including alerts relating to COVID-19 stimulus packages, at www.ato.gov.au//in-detail/current-sms-and-email-activities/

24.01.2022 Businesses: Its time to make your next monthly business declaration for JobKeeper payments You have from the 1st to the 14th of each month, to claim payments... made to your employees in the previous month. The sooner this declaration is made, the sooner you will be reimbursed. For more info, visit www.ato.gov.au//Employers/Enrol-for-the-JobKeeper-payment/

24.01.2022 You still accrue leave as normal if youve had your hours reduced, or been stood down under a JobKeeper direction. So for example, if youre a full time employ...ee, you should still accrue full-time paid annual leave entitlements based on the hours you would normally have worked before the JobKeeper direction. More info here: https://coronavirus.fairwork.gov.au//leave-the-jobkeeper-s

23.01.2022 Businesses: Do you provide employees with a car for private use? Fuel your knowledge on car fringe benefits by registering for one of our 1-hour virtual introd...uctory sessions. During the session, well explain the different ways you can calculate the taxable value of benefits walk you through record-keeping obligations help you determine the best options for your business. Secure your spot at ato.webex.com/ato/onstage/g.php

22.01.2022 If youve been financially affected as a result of COVID-19, you now have more time to access some of your super. Applications for COVID-19 early release of sup...er have now been extended to 31 December 2020. Remember You can still only apply once in this financial year. Check if youre eligible at www.ato.gov.au//Withdrawi/COVID-19-early-release-of-super/

22.01.2022 Scammers want to get their hands on more than just your money. Your personal info is just as valuable. You might be familiar with scams that phish for person...al and financial information - like your TFN, myGov details, address, or date of birth - by pretending to be government agencies like us. Criminals can use these details to drain your bank accounts, buy expensive goods and even scam your family and friends. Dont let a scammer be you! This Scams Awareness Week, take a few minutes to make sure you can pick the savviest tax scams. We list some ways you can pick the fake ATO from the real deal at www.ato.gov.au//online-services/i/verify-or-report-a-scam/. You can find other helpful resources at www.scamwatch.gov.au/new/national-scams-awareness-week-2020

21.01.2022 Employers: Single Touch Payroll deadlines are just around the corner! Youll need to finalise and report to us by: 14 July, if youve got 20 or more employ...ees 31 July if you have fewer than 20 employees. Theres still time left on the clock, but if your datas ready to go now, why not avoid a last-minute rush? Find out more at www.ato.gov.au//Star/End-of-year-finalisation-through-STP/

20.01.2022 Businesses: Dont forget, you have until 31 May 2020 to enrol for JobKeeper to claim April and May payments for your staff! Make sure youre ready to be reimb...ursed for JobKeeper payments by: checking both you and your employees meet the eligibility requirements, and paying your employees by the appropriate date for each fortnight. For more info, visit www.ato.gov.au//JobKeeper-P/In-detail/JobKeeper-key-dates/

20.01.2022 Wondering which small business expenses you can claim as deductions? Our Small business tax time toolkit is here to help! Our handy directory and guides have ...info on: home-based business expenses motor vehicle expenses travel expenses using your companys money or assets pausing or closing your business due to COVID-19 Check them out now at www.ato.gov.au/Tax-prof//Tax-Time-Toolkit---Small-business

20.01.2022 Businesses: Do you have new employees who will now be eligible for the JobKeeper Payment? You now have until 31 August to pay your new employees for the fortni...ghts commencing on 3 and 17 August 2020. For more details on the changes, see https://www.ato.gov.au//JobKeeper-Payment/Employers/Your-/

19.01.2022 Tax tip: Lodging your tax return gets easier at the end of July! From late July, a lot of your info will be automatically included into your tax return incl...uding income, bank interest, health fund details and government payments. All youll need to do is double-check the info, add anything thats missing, and youre done! The other good news is that if you have received JobKeeper payments as an employee you dont have do anything different. They will be included in your income statement. Learn more at www.ato.gov.au//Lodge-o/Pre-filling-your-online-tax-return

19.01.2022 Scammers try to steal from you when youre vulnerable. Use our tips to help identify scams and support you during COVID-19.

18.01.2022 Employers: The due date to meet the eligibility criteria for Aprils JobKeeper payment is almost here! You have until midnight tomorrow, 8 May, to have paid the... minimum $1,500 to your eligible employees for the JobKeeper fortnights 30 March-12 April and 13 April-26 April. Weve started processing payments, so if youve completed all the steps and meet the eligibility requirements, you should receive your reimbursement within 14 days. If you havent completed all the steps, well be in touch. Find out more at www.ato.gov.au/general/JobKeeper-Payment/

18.01.2022 With businesses making preparations for the easing of restrictions, you might be asked to help by doing different duties. If youre a JobKeeper employee, your ...boss can ask you to change your duties if: - the new duties are safe - youve got the required licenses and/or qualifications - the duties are reasonably within the scope of your employers business operations. There are some rules about how and when requests should be made. You can read more here: https://coronavirus.fairwork.gov.au//changing-duties-locat

18.01.2022 An employer receiving JobKeeper payments can ask an eligible employee to work additional hours, but the usual requirements in the Fair Work Act apply. Any addit...ional hours worked need to be reasonable, and you can refuse to work unreasonable additional hours. If the only reason for a request to work additional hours is to match the amount of the JobKeeper payment, that is not likely to be reasonable. Your employer also needs to comply with any other terms and conditions of employment that apply to you (like the rules from your award, enterprise agreement or employment contract). Your employer must pay your usual base rate of pay for the additional hours, as well as any penalty rates or overtime pay that may apply. Under the general protections provisions of the Fair Work Act, its unlawful for your employer to force (or try to force) you to work unreasonable additional hours, or to tell you that you must work additional hours as a condition of receiving the amount of the JobKeeper payment. https://coronavirus.fairwork.gov.au//changing-duties-locat

18.01.2022 Employers: Weve started processing payments for JobKeeper, so if youve enrolled, youll need to take the next step and identify and maintain your eligible emp...loyees to ensure you get reimbursed. Check out our video with tips on how to complete this step Sole trader? Youll also need to take this step to ensure you get the payment. For more info, visit www.ato.gov.au/general/JobKeeper-Payment/

17.01.2022 Enrolled for JobKeeper payments, but not sure what to do next? Here are some of the most common questions were being asked. What if I get it wrong? What shou...ld I do? If you cant self-amend using our online services you can call us on 13 28 66, and well help fix any genuine mistakes that have been made. We have checks in place and will follow up with employers if we need more info. I have enrolled what do I do next? Log into our online services, identify your employees (if any) and complete monthly a business declaration (when available through our systems). How long will I need to wait for the JobKeeper Payment once Ive confirmed eligibility and completed the steps? We usually make payments within 4-6 days. Looking for more info? Check out www.ato.gov.au/JobKeeper

17.01.2022 Have you started a new business in the last 12 months? To check if you meet the fall in turnover test & are eligible for the JobKeeper payment, you can either: ... - average your turnover over the number of months youve been operating, or - use your last three months of turnover. For more information on the alternative turnover test, visit https://www.ato.gov.au//In-de/Applying-the-turnover-test/

16.01.2022 If you’ve been financially affected as a result of COVID-19, you now have more time to access some of your super. Applications for COVID-19 early release of sup...er have now been extended to 31 December 2020. Remember You can still only apply once in this financial year. Check if you’re eligible at www.ato.gov.au//Withdrawi/COVID-19-early-release-of-super/

15.01.2022 Businesses: If youre still assessing your eligibility for the JobKeeper Payment, theres time to enrol and claim for the JobKeeper fortnights in April and May.... Make sure you: Enrol by 6pm AEST this Sunday 31 May Meet all the eligibility requirements Pay your employees by the appropriate date for that fortnight Check out our videos to help you complete each step: www.ato.gov.au//JobKeeper---easier-to-understand-informa/

14.01.2022 Yes. The JobKeeper scheme doesnt change full-time and part-time employees entitlements to accrue or take paid sick leave under the Fair Work Act (casual emplo...yees arent entitled to this leave). If youre ill or injured, so long as you follow the usual notice and evidence rules, you can take your accrued paid sick leave as normal. https://coronavirus.fairwork.gov.au//leave-the-jobkeeper-s

13.01.2022 Employers: The JobKeeper Payment is changing, so more employees can qualify. There are changes to: 1. the eligibility criteria 2. a payment extension to 31 Aug...ust, and 3. employers can nominate different employees if their employment has changed. For more details on the changes, see https://www.ato.gov.au//JobKeeper-Payment/Employers/Your-/

12.01.2022 If youve 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 youre 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 dont need to pay tax on COVID-19 early release of super amounts, so you dont 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/

12.01.2022 Is your business in a position to purchase new or second-hand assets? You may be eligible to use the expanded instant asset write-off this tax time. You must h...ave your asset in use by 30 June 2020. If youre looking to purchase a car, some limits may apply. Interested? Find out more at www.ato.gov.au//Simpler-depreciat/Instant-asset-write-off/

11.01.2022 SCAM ALERT Be on the lookout for a new phone scam claiming your tax file number (TFN) has been suspended! Recorded phone calls claiming to be from the ATO a...nd other government agencies are trying to trick people into providing personal information. These scammers will tell you theres a legal case against you, and if you dont follow instructions and provide the information requested, youll be arrested. Dont follow the prompts, and dont provide the information requested. We will never send unsolicited pre-recorded messages to your phone, or threaten you with immediate arrest. If youre ever unsure whether an ATO interaction is genuine, hang up and phone our scam hotline on 1800 008 540. 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/

11.01.2022 Businesses: Enrolled for the JobKeeper Payment and identified your eligible employees? Youll need to make a monthly business declaration between the 1st and 14...th day of each month to be reimbursed for employees youve paid The earlier you declare, the sooner you will be reimbursed for the JobKeeper payments For more info, visit www.ato.gov.au//JobKeeper-P/In-detail/JobKeeper-key-dates/

09.01.2022 Keep an eye on your myGov inbox this tax time! Most people will be accessing their income statement (previously called a payment summary) through our online... services in myGov. If your myGov account is linked to our online services, well let you know once your employer has made your income statement tax ready - then, it can be used to do your tax return. Remember, many employers have until 31 July to do this. Lodge through an agent? No problem. Get in touch with them as usual theyll have access to this info too. Find more info at www.ato.gov.au//Working-as/Accessing-your-payment-summary/

08.01.2022 An employees hourly rate under their award or enterprise agreement cant be reduced because theyve had their hours or days reduced or duties changed under a J...obKeeper direction. And if you do less than $1500 worth of work in the fortnight, youre entitled to be paid at least $1500. But if you do more than $1500 worth of work, you need to be paid for all the hours you actually worked. This includes being paid any overtime, penalty rates, or allowances your award or agreement says you should get. Just remember, some tax might have to be taken out of your wages. https://coronavirus.fairwork.gov.au//jobkeeper-wag/default

08.01.2022 Calling all teachers! Its time to study your tax deductions so you can get an A+ on your return. See our cheat sheet of what you can and cant claim: You can... claim working from home expenses. You cant claim the cost of gifts you buy for your students or any time you pay for their personal expenses (e.g. their lunch, excursion fees or school books). You can claim self-education expenses if the course relates directly to your current job. You cant claim a deduction if your study is only related in a general way to your job, or is designed to help you get a new one. You can claim a deduction when you drive between alternate workplaces for the same employer on the same day (e.g. from your school to another school to supervise an exam). Want to learn more? Check out www.ato.gov.au//Teacher-and-education-professionals---inc/

08.01.2022 On JobKeeper and been asked to take annual leave? Temporary changes to the Fair Work Act allow employers claiming JobKeeper payments to: ask eligible Jobkeepe...r employees to take paid annual leave (if they keep a balance of at least 2 weeks) agree in writing with that employee for them to take annual leave at half their usual pay for twice the length of time. If your employer asks you to take paid annual leave, you have to consider the request and cant unreasonably refuse it. If you agree to take annual leave at half pay, you still accrue your usual leave entitlements for the period the agreement applies (as if the agreement hadnt been made). If your employment ends, redundancy and pay in lieu of notice of termination are also calculated as if the agreement hadnt been made. More info here: https://coronavirus.fairwork.gov.au//jobkeeper-changes-to-

07.01.2022 Under temporary changes to the Fair Work Act, employers receiving JobKeeper payments can direct eligible Jobkeeper employees to change their usual duties or loc...ation of work, but some rules apply. You can be directed to do any duties that are within your skills and competency so long as: the duties are safe (including having regard to the nature and spread of coronavirus) you have any required licenses and qualifications the duties are reasonably within the scope of your employers business operations. You can be directed to work somewhere different from your normal place of work, including your home, as long as: its suitable for your duties youre not required to travel an unreasonable distance (having regard to all circumstances including coronavirus) its safe for you to do your duties there performing your duties there is reasonably within the scope of your employers business operations. Any direction given needs to be reasonable taking into account all circumstances, including any caring responsibilities you have, or it wont apply. Before giving the direction, your employer needs to notify you in writing at least 3 days before (unless you genuinely agree to a shorter time) and has to consult with you or your representative. If the new duties attract a higher base hourly rate of pay, youre entitled to be paid the higher rate. Employers need to make directions in writing and keep a written record of the consultation. You can read more about when and how directions can be made here: https://coronavirus.fairwork.gov.au//jobkeeper-changes-to-

07.01.2022 Gearing up to lodge? Make sure your income statement is marked as tax ready before lodging. Most employers have until 31 July to finalise your income statemen...t, but well let you know when its ready through your myGov inbox. If you do lodge before your income statement is tax ready, you may need to amend your tax return and, in some cases, additional tax may be payable. You can lodge your tax return using myTax via myGov on any device, or using a registered tax agent. For more info, visit www.ato.gov.au//Working-as/Accessing-your-payment-summary/

07.01.2022 Businesses: Taxable payments annual report (TPAR) are due next week on 28 August. If you need to lodge, most of the info youll need should already be on hand... from your monthly or quarterly reporting! Lodge on time so you dont miss the deadline! Find out more about your TPAR at ato.gov.au/TPARlodge See more

06.01.2022 SCAM ALERT Scammers are impersonating Westpac and asking Australians to verify their accounts. If received DELETE IMMEDIATELY and dont click on any links. Report scam activity via www.scamwatch.gov.au

05.01.2022 Could your tax plan actually be a tax avoidance scheme? Dont fall prey to untrustworthy tax planners or advisors - you could actually be cheating on your tax.... If youre unsure, talk to a trusted professional (or us!) to make sure youre doing the right thing and avoid potential penalties. Learn more at www.ato.gov.au/General/Tax-planning/

05.01.2022 You may be experiencing some delays in accessing our online systems, we are aware of this and are working on it as a priority. Thank you for your patience.