Turner Accounting & Taxation in Gundagai, New South Wales | Accountant

Turner Accounting & Taxation

Locality: Gundagai, New South Wales

Phone: +61 439 789 226

Address: PO BOX 2 2722 Gundagai, NSW, Australia

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25.01.2022 BEC Business Advice are hosting a FREE webinar tomorrow on the new Jobkeeper Payment. I would encourage any business who may be eligible for the payment to register

24.01.2022 Support for bushfire impacted small business - based on loss of revenue.

24.01.2022 ** 2020 Tax Time ** With tax time just around the corner, the first thing you will need before you can book in for an appointment is your Income Statement. What is an income statement..? ... In the past this has been called a Group Certificate, PAYG Summary or Payment Summary. In the past this also may have been issued on either a printed or hand written piece of paper. This is all online now. If you have a registered tax agent () they can access the Income Statement via the Tax Agent Portal. If you do not have a registered tax agent, you will need to access the Income Statement via MyGov. Your employer should notify you once the Income Statement has been finalized. Some will do this straight away, but please keep in mind they do have until July 31 to issue. I will be ready to go as soon as you are

24.01.2022 A great source of information for small business...

24.01.2022 From tomorrow, eligible small businesses can access a further $3,000 Small Business Recovery Grant, helping to get people back to work and keep businesses in business. For more information, visit www.service.nsw.gov.au//small-business-covid-19-recovery-g.

24.01.2022 Finally some good news for small business, regarding loan repayment deferrals.

23.01.2022 Seats are filling up for my Xero workshop on the 18th - please get in touch if you are still interested!!

23.01.2022 ** Jobseeker Payment - Tax Withheld ** For anyone currently receiving the Jobseeker Payment, please keep in mind this is a taxable payment, that will be included as part of your Taxable Income. With that being said, it is important to make sure Centrelink are withholding tax from your Gross Payment. Centrelink DO NOT automatically take tax from most taxable payments - you need to ask them to do this.... Instructions on how to set up the tax deduction can be found on the Department of Human Services Website: https://www.servicesaustralia.gov.au//manage-tax-deductions

23.01.2022 PM Media Release from todays additional announcements. https://www.pm.gov.au//supporting-australian-workers-and-b

22.01.2022 Looking at hosting a Family Budget workshop within the next few weeks - would this be of interest to you

22.01.2022 Announcement today by the NSW State Government..

22.01.2022 Taxable Payments Annual Report If your business makes payments to contractors or subcontractors you may need to lodge a Taxable payments annual report (TPAR). This only applies to the following industries: * Building & Construction... * Cleaning Services * Courier & Road Freight * IT, Security & Surveillance See more

21.01.2022 Jobkeeper guidance for small businesses who have not been operating a full 12 months. These are the guidelines for calculating turnover reduction.

21.01.2022 A new $10,000 grant has been announced this morning for Small Businesses in NSW. To be eligible you must: * have between 1-19 employees * a turnover of more than $75,000... * total payroll of below $900,000 * have an ABN as at 1 March 2020 * be based in NSW and employ staff as at 1 March 2020 * be highly impacted by the Public Health order restricting gatherings and movement There is no further detail as yet on how to measure highly impacted Grants will be available within a fortnight via the Service NSW website.

20.01.2022 If you have a small business in Southern NSW that is struggling due to drought, bushfire or COVID-19, the Rewire Project can help you navigate through these tough times. There is FREE help available with one-on-one business coaches + $5K for eligible small businesses for training and specialised advice. If you are interested in speaking with a business coach please let me know and I can pass on details :)

19.01.2022 Another huge announcement this afternoon and one more scheme to try and wrap my head around..! I think this is fantastic and is going to help out so many businesses and employees. Any questions please ask and please stay home

19.01.2022 If you are receiving a payment from Centrelink, please check if the payment is taxable or not. If the payment is taxable, this means you need include the benefit as part of your taxable income. Centrelink dont always automatically withhold tax - you need to ask them to do this. ... If you have been receiving a payment that is taxable, but have not had any tax withheld, this could result in a tax payable depending on other income.

17.01.2022 Jobkeeper Payments have finally started to roll out over the past few days. Such incredible relief for the businesses that have been eligible to apply. It has been a huge task processing all of the different steps required to claim this payment. Please dont let the lengthy process deter you from applying if you believe there is a chance you may meet the criteria.

17.01.2022 Very detailed information can be found in the Treasury Fact Sheet regarding the new Jobseeker payment. You must have a MyGov account set up to apply for the payment, otherwise a phone application can be processed if you do not have the internet. If you have never dealt with Centrelink before, you will need a Customer Reference Number (CRN) in order to link Centrelink to MyGov... https://treasury.gov.au//Fact_sheet-Income_Support_for_Ind

15.01.2022 Still confused about the Economic Support available..? This short video might help..!

14.01.2022 The first stage of Jobkeeper ends tomorrow, 27th September 2020. To continue receiving payments under Jobkeeper 2.0 you must reassess eligibility. Also note, there is a change to payment rates.

14.01.2022 Ive had a lot of questions this week asking how low turnover needs to be, to keep receiving the Jobkeeper. Once youre in, youre in. You only need to prove eligibility when you initially enroll

13.01.2022 ** Economic Stimulus Package ** As most of you would have heard by now, a few days ago the PM announced an economic stimulus package in response to the Coronavirus. I have attached a detailed link below, but in short these are the major benefits: * Instant Asset Write-off for small business - threshold increased from $30,000 to $150,000. ... * $25,000 grants available to small businesses with employees between Jan 2020 - June 2020. No need to apply, the grant will come through automatically following lodgment of the March and June BASs. My understanding is 50% of PAYG withholding will be granted, up to a maximum of $25,000 * $750 lump sum payment made to pensioners and other residents who are currently receiving eligible Centrelink benefits. Again, there is no need to apply. The payment will come through automatically based on your current benefit payments. * Small businesses can also apply for a wage subsidy of 50% of an apprentices or trainees wage for up to 9 months, from 1 January 2020 to 30 September 2020. If you believe you qualify for any of these payments and would like further information please let me know, and stay safe https://www.pm.gov.au/media/economic-stimulus-package

12.01.2022 For anyone who is trying to keep a Small Business running during this crazy time, BEC Business Advice will be hosting a Cash Flow Webinar

12.01.2022 The instant asset write off threshold of $150,000 has been extended to 31st December 2020. For anyone thinking about taking advantage of this claim, please check in to make sure you do it in the financial year that will benefit you the most.

11.01.2022 ** Jobkeeper Payment ** If you are an eligible business and would like to register your intent to claim the new Jobkeeper Payment please follow this link to the ATO (not Centrelink) This payment applies where turnover has dropped by 30% or more - when compared to the same period this time last year. ... Eg - in March 2019 your business turnover was $10,000. In March 2020 your business turnover was $7,000. This is a 30% reduction. You will be entitled. The ATO will pay $1500/fn (per employee) to the employer directly, then it will be up to the employer to pass the FULL $1500/fn on to the employee via their preexisting payroll process. This also applies to Sole Traders and businesses that engage Sub-Contractors. In this scenario, both the Sole Trader AND the Sub-Contractor (who is paid via an ABN) would be eligible, if they meet the turnover criteria.

10.01.2022 If you are currently working from home due to the social distancing restrictions, please keep a diary of how many hours you work. This will help calculate your claim at tax time

09.01.2022 Southern Border Small Business Support Grant - Further funding via Service NSW for border communities including Snowy Valleys. $5,000 and $10,000 grants available. https://www.nsw.gov.au//45-million-for-southern-border-sma

09.01.2022 Budget Night - already some big announcements. Who else is watching..!?

09.01.2022 ** Jobkeeper Payment ** If you use Xero to process and file your payroll, you can find great step by step instructions on Xero Central for the new Jobkeeper Payment. How to set it up, enroll employees, calculate the top up payment. https://central.xero.com//Enrol-employees-for-JobKeeper-pa

08.01.2022 For anyone in the Gundagai area who has already suffered job loss

08.01.2022 Reminder: June quarter super guarantee payments are due in 6 days.

08.01.2022 I’ve had a lot of questions this week asking how low turnover needs to be, to keep receiving the Jobkeeper. Once you’re in, you’re in. You only need to prove eligibility when you initially enroll

07.01.2022 For any businesses needing more information on the Jobkeeper Payment, a live Q&A session is being held this coming Wednesday. Questions can be asked beforehand during the registration process. If anyone has specific questions and cant attend the session please let me know and I will do my best to find out the answer.

07.01.2022 With all of the confusion that has surrounded jobseeker and Jobkeeper, this is a nice summary showing what does and does not need to be declared as income

06.01.2022 Great info here from BEC

05.01.2022 Family Tax Benefit (FTB) - Lump Sum Claim Ive had a few questions come through about the $750 stimulus payment for families who dont get a fortnightly family tax benefit. If you lodge a FTB claim at the end of the financial year following tax return lodgment, the $750 stimulus payment will be included in your FTB lump sum, if eligible. ... You will not miss out if you are not receiving a fortnightly benefit.

05.01.2022 Applications for the Service NSW $10,000 Covid-19 grant are now open. Keep in mind the eligibility criteria is quite strict. Some key points are: * annual turnover must be over $75,000 * you must employ between 1-19 staff * turnover must have reduced by 75% or more when compared to the same two week period this time last year... This grant is available until the 30th of June 2020. If you dont qualify right now based on the turnover reduction keep checking, as any fortnight between the 31st March 2020 and the 30th June 2020 can be used. Unfortunately Sole Traders who do not employ any staff are not entitled. Service NSW are encouraging any Sole Traders with no employees to look into the Jobkeeper Payment

05.01.2022 To my valued business clients Over the coming week I plan on getting in touch with each of you, to go over the current situation and discuss eligibility of stimulus announcements. This is a very anxious time for all of us and I too am worried about the security my own small business. ... For any individuals who do not yet have a MyGov account, please take the time to set one up. Any new start, superannuation or family tax benefits you may be entitled to all need to be applied for online via MyGov. Please stay safe and keep in touch

04.01.2022 Information regarding the 50% wage subsidy for apprentice or trainee employees

03.01.2022 Looking for quiet office space while social distancing...contact Remote Control Co-Working & Retail

02.01.2022 Early Access to Superannuation - Fact Sheet "Eligibility - To apply for early release you must satisfy any one or more of the following requirements: you are unemployed; or... you are eligible to receive a job seeker payment, youth allowance for jobseekers, parenting payment (which includes the single and partnered payments), special benefit or farm household allowance; or on or after 1 January 2020: you were made redundant; or your working hours were reduced by 20 per cent or more; or if you are a sole trader your business was suspended or there was a reduction in your turnover of 20 per cent or more." In order to apply for the lump sum withdrawal you must have a MyGov account set up with the ATO linked. https://treasury.gov.au//Fact_sheet-Early_Access_to_Super_