Tydd & Associates Pty Ltd in Gunnedah, New South Wales | Tax preparation service

Tydd & Associates Pty Ltd

Locality: Gunnedah, New South Wales

Phone: +61 2 6742 5001

Address: 330 Conadilly St 2380 Gunnedah, NSW, Australia

Website:

Likes: 173

Add/Update information

Reviews

Tags

• Tax preparation service
• Accountant
• Financial service

25.01.2022 In his second Budget, the Treasurer, Josh Frydenberg has unleashed $300bn to support the economy and get growth back on track. With Australia’s unemployment rate at a 22-year high, it’s no surprise that this Budget is all about job recovery. To encourage private enterprise and businesses of all sizes to hire new employees the government announced some significant business measures including extension of small business tax concessions, outright deductions of capital assets until 30 June 2022, loss carry-back, and clarification of the corporate residency test.

24.01.2022 Information on the reporting concession for micro employers in the agriculture, fishing and forestry industry. https://bit.ly/3oXXGJr

23.01.2022 So proud of our amazing team who completed 156.75 kms and raised over $357 for research into Multiple Sclerosis. Thank you to everyone who sponsored us, it provided a great incentive to finish! Together we will leave MS where it belongs, behind us #teamworkmakesthedreamwork #may50k ... #multiplesclerosis #walkingadventures #accountantslife See more

22.01.2022 Celebrating the beginning of a new Financial Year with Sam Mac!! https://youtu.be/ADUgL7pnnAA

22.01.2022 Most employees are entitled to compulsory super contributions from their employer. You may also be entitled to choose the fund your super is paid into. https://bit.ly/2Z8Y7GD

21.01.2022 Lest we Forget #anzacday2020 #neverforgotten #thankyou

20.01.2022 In order to provide certainty for foreign incorporated businesses conducting operations in Australia, the government announced in the 2020 Budget that it will be seeking to make changes to clarify the corporate residency test. While details have not been forthcoming in the days since the Budget, the Board of Taxation has recently released its review on that same topic, potentially providing a glimpse of what the amending legislation may contain, including what constitutes sufficient economic connection and core commercial activities.

19.01.2022 To many individuals, the difference between tax planning and tax avoidance is not immediately obvious, while the ATO considers the former to be a legal way to arrange your affairs to minimise the tax you pay, the latter could land you in legal hot water. So, how can you tell the difference? The ATO has outlined some common features of tax avoidance schemes in order to warn individuals to steer clear of them. While it is not always easy to identify these schemes, the old adage of if it seems too good to be true it probably is usually applies.

18.01.2022 Information about the eligibility and application process for the COVID-19 early release of super scheme if you have been financially affected by COVID-19. https://bit.ly/30TxSFW

17.01.2022 As the Australian economy gets back on its feet, the government has been very vocal about winding back various JobKeeper and JobSeeker measures. If you’re a business that still needs a little bit of a helping hand with hiring more workers, you can take advantage of the JobMaker Hiring Credit scheme which gives eligible businesses payments of up to $200 a week for each additional employee hired (depending on the age of the employee). Unlike the JobKeeper, eligible employers can keep the JobMaker payment to grow their businesses. Phone us on 02 67425001 for more information.

17.01.2022 You can only have early access to your super in very limited circumstances. These are mostly related to specific expenses. https://bit.ly/38nVtQU

17.01.2022 Individuals and businesses beware, the first data-matching program of 2021 calendar year has been initiated by the ATO and it relates to motor vehicle registries data. Information such as identification details (including names, addresses, DOB, ABNs) as well as transaction details (eg price of vehicle, type of transaction, vehicle garage address etc) will be acquired for the 2019-20 to 2021-22 income years. It is expected that records of around 1.5m individuals will be obtained each financial year and the program will encompass both new and second-hand cars.

17.01.2022 Businesses with an apprentice or trainee beware. The Department of Education, Skills and Employment has commenced a new ongoing data-matching program in relation to the Supporting Apprentices and Trainees (SAT) measure. The Department is seeking to confirm the eligibility of employers receiving the subsidy as well as stamp out any potential double-dipping of government assistance. It is estimated that around 117,000 apprentices and trainees and more than 70,000 employers will be affected.

14.01.2022 The First home super saver (FHSS) scheme allows people to save money for their first home inside their super fund. https://bit.ly/2IcuXhy

14.01.2022 Hi Everyone We’ve been inspired to participate in the ‘May 50k’ to run or walk 50km throughout May in order to raise funds and awareness for Multiple Sclerosis research. MS is a disease impacting over 25,600 Australians today, and there is no cure. 10 Australians are diagnosed each week. This campaign called Kiss Goodbye to MS run by MS Research Australia, aims to fund medical research for prevention and a cure.... Please join us in running/walking or donating this May via the link below!

13.01.2022 While some sectors of the economy is suffering, others are booming, if you’re lucky enough to have a small business in a rapidly growing sector, you may be considering a change from a relatively simple sole trader business structure to a more formal structure such as a company or a trust. Changes such as this are complex with each structure having its own distinct advantages and disadvantages. Before you consider a change, experts should be consulted to avoid costly mistakes which may stymie the success of your business.

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-/

11.01.2022 Tax time 2020 is ending soon, if you haven’t lodged yet, there is still time, this year don’t forget to claim your work from home expenses. There are generally 3 ways of claiming work at home expenses, all of which give a different outcome. It is up to individual taxpayers to work out which method suits them best and gives them the biggest deduction. Remember to claim the expenses you have to be doing more than minimal tasks, the ATO says it has to be substantive, so simply checking emails or taking calls at home will not qualify.

10.01.2022 If you're an employee who works from home, you may be able to claim a deduction for home office expenses. https://bit.ly/2S7DNBF

07.01.2022 If your business is thinking of hiring new staff, now is the time, the Government will pay employers a subsidy of sorts for each eligible young worker employed over the next 12 months. The amount of the payment depends on the age of the employee, but may be up to $200 per week for those aged 16 to 29. The rules are not overtly complex, but the scheme is limited to certain types of employees and there are several key conditions that apply to both employers and the new employees so care should be taken.

06.01.2022 Among the many unintended consequences of COVID-19, businesses that provide cars to their employees may now be on the hook for more FBT. Under the FBT regime, where an employee garages a work car at home, the business is deemed to be providing a car fringe benefit. However, with most people still working from home, the ATO notes that this could create unreasonable consequences for businesses. As such, it has outlined certain conditions where it will accept that a business is not holding the car for the purpose of providing fringe benefits to an employee.

05.01.2022 Receive up to $10,400 over a year for each new employee: Eligible employers only need to complete three simple steps to receive JobMaker Hiring Credit payments of up to $10,400 over a year for each eligible additional employee they hire. https://bit.ly/2NbglUF

02.01.2022 From 1 July 2017, there is a cap on the total amount of super that can be transferred into a tax-free retirement account, known as the transfer balance cap. https://bit.ly/3n4br9B