Wyrd Accounting in Baulkham Hills, New South Wales | Financial service

Wyrd Accounting

Locality: Baulkham Hills, New South Wales

Phone: +61 2 8860 6438

Address: Level 5, 4 Columbia Court 2153 Baulkham Hills, NSW, Australia

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

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• Tax preparation service
• Accountant
• Financial service

25.01.2022 Overnight the Government passed the legislation in relation to Jobkeeper as previously announced. Many questions have been asked about this but to date without it being law a lot of the discussion is ultimately speculation. This is important as the application process is one step closer to being able to formally commence. Note that when the Government talks about the number of businesses that have registered for the scheme, they are only referring to a registration of intent to claim, as there is no actual application process to date since it was not actually law.

25.01.2022 Happy fathers day! This year has been quite the roller coaster, but this little one along with her two big brothers are my reminder to be grateful every single day

23.01.2022 Identified impacted postcodes across NSW, Victoria, Queensland, and South Australia will be granted an automatic two-month deferral for activity statement lodgments and payments due. Taxpayers or their agents do not need to apply for a deferral. http://ow.ly/eqkB50xPF1K

23.01.2022 Been working from home during COVID19? The ATO has a couple of options to simplify your claim this year. There is the standard 52 cents per hour to cover electricity and gas for heating, cooling and lighting. There is now also an increased amount of 80 cents per hour for the period 1 March to 30 June 2020. It is important to note that this higher rate includes mobile phone and internet usage, and on the returns prepared so far it has been more beneficial to use the 52 cents and claim the actual business usage of phone and internet separately. So keep your records and do the calculations to work out what is best for your personal circumstances. #Tuesdaytaxtip

23.01.2022 Good news for those rushing to lodge JobKeeper applications, as the deadline has been extended. http://ow.ly/j2dL50zqlih

22.01.2022 Now this is the kind of support businesses really need! http://ow.ly/uTTv50yQDiv

22.01.2022 The RBA cuts rates again. The impact of the corona virus is having on businesses already is heart breaking, so a small but welcome step. http://ow.ly/Khqu50yPAAQ

21.01.2022 Our latest newsletter has gone out this afternoon which delves into the latest Government Stimulus package. To date this has been for clients only but have opened this up to anyone interested. Click the link below for the latest tax news relevant to you. http://ow.ly/t32K50yW7Eu

20.01.2022 For those business users looking at Xero, they have made some changes to the Xero Starter plan: Removed the limit on bank reconciliations (previously 20 per month) Send up to 20 invoices per month (previously 5 per month) This is great because even though we recommend starting out with the end in mind, we are realistic that it can be expensive when starting out. The changes to the starter plan mean that businesses that were previously on the fence about using it, may now go ahead and use Xero from the beginning which is great because as they grow and eventually upgrade, they will have a more complete history of transactions. Also once you start using software it is very hard to go back to Excel as the ability to extract various reports out in real time is a game changer when it comes to making decisions about your business.

20.01.2022 Our latest email has gone out explaining this third round of Government stimulus, get in contact if you would like a copy of it, and make sure you click on this link in my recent post to subscribe to future emails.

19.01.2022 Lets chat about dealing with the ATO. They are often attached to many negative connotations although realistically most people never hear from them. From time to time though, particularly if you situation is a little more complicated you may receive a letter or a phone call. Although procrastination might seem like a solid strategy, it is our experience that is the worst thing you can do. A lot, if not the majority of contact we have with the ATO is asking questions that can... generally be easily answered. The ATO believe it or not can be very reasonable when you try to do the right thing! Got a debt? Ignore it and they will chase. Demonstrate you are paying it down and they will be much more likely to consider not applying any penalties. Claiming more deductions than usual? As long as you are keeping receipts and incurring legitimate expenses (that are not reimbursed by an employer) and any inquires will be uneventful. Late on lodging tax returns or activity statements? Once again if there is a legitimate reason and you are not doing it all the time, then talking to them goes a lot way. So dont bury your head in the sand if the ATO reaches out, and if in doubt give your tax agent a call!

18.01.2022 Further, we recommend Clint from On Demand HR if you have any concerns over any emplyment related matters including employment contracts, pay rates, awards and employment disputes. http://www.ondemandhr.com.au/

18.01.2022 What a great initiative! Government and big business often cause cashflow issues for small businesses and contractors, who are at the mercy of these larger organisations when it comes time to chase payment. Glad to see the Qld Govt taking action on this! http://ow.ly/pvHJ50yuZ1h

16.01.2022 The RBA has announced a rate cut, shame you wont be able to buy toilet paper with the savings on your mortgage repayments thanks to the coronavirus chaos...

16.01.2022 I have been hesitant to post about the Coronavirus but given the impact it is going to have on business, big and small, it was time to start addressing some of the tax related issues that will arise. Many larger and service based businesses are trialing and implementing wide spread working from home arrangements which is fantastic and I will be curious to see how the coming months impacts longer term culture and attitudes around working from home. It is very hard to work from... home though if you are a chef, plumber or nurse! And even though this is huge health crisis, employment laws still must be adhered to when it comes to shutting down or reducing staff numbers. Cashflow is going to be crippling for many businesses over the coming months, and staff costs can be very high for a lot of these businesses. Care must be taken however in dealing with this and as such we highly recommend Clint Indrele from HR On Demand who has set up a page specifically to deal with this issue. If this is a concern for you and your business, please get in touch with Clint. http://ow.ly/2A5Y50yNolA

15.01.2022 I would be lying if I didnt say I was quite excited about this! Hubdoc is a fantastic product that has improved so much since it first came out, and am very happy to see that the acquisition by Xero will result in better value for its customers! http://ow.ly/Pc3Q50xsi09

15.01.2022 Remembrance Day in Australia is dedicated to Australians who died as a result of war, particularly from World War I onwards. A minute of silence is dedicated to the deceased, especially for soldiers who died fighting to protect the nation. Never forget the sacrifices made.

15.01.2022 Stuck processing the new JobKeeper payments in Xero? See the below link for detailed instruction. http://ow.ly/RXEX50ziAnd

13.01.2022 We poked a bit of fun at the chaos of the coronavirus yesterday, but today is a little bit more of a serious take on if your business has been impacted by it. LegalVision has put together a comprehensive guide which may assist (although hopefully not!) http://ow.ly/Z5PL50yBldl

12.01.2022 So with National Volunteer Week starting today I thought I would put up a post about what I have been up to. Last year I made the decision that I wanted to give back to the community that has given me so much. The idea of the SES really struck a chord with me and it has been even more rewarding than I had imagined. There is a lot of learning upfront so that when we go out in teams during storms and floods we are able to assist safely. That means a lot of time spent at HQ look...ing at PowerPoint presentations, practicing on the radios and learning to tie the knots. But getting out on the trucks and helping when I can has been really rewarding and is something I look forward to being a part of for many years to come. This picture was taken the night I brought home my uniform so please excuse the cheesey grin, but getting the uniform means you can start going out in teams helping the community so I was rather excited!

12.01.2022 Merry Christmas! This year has a bit of a roller coaster to be honest but I am extremely grateful for the support from family, friends, and of course my amazing clients. I will be recharging the batteries with some epic Nerf battles with my sons and hope that you have an amazing break also

11.01.2022 Well the end of financial year is upon us, and we are already taking appointments for 2020 income tax returns! Please note that information does take time to flow through to the ATO which is going to be important this year due to COVID19 related stimulus. http://ow.ly/K3Ml50AllAH

11.01.2022 Is your business paying wages? Dont get caught out paying less than award wages, see the link below for information on the increases to awards as set out by Fair Work. http://ow.ly/ceBj50AsrG0

10.01.2022 This is getting ridiculous isnt it? The employment laws and regulations in Australia are extremely complex with businesses large and small getting caught out. Imagine being a small business trying to pay your employees properly when large ASX listed businesses that are subject to audit and have huge budgets for employment specialists still get it wrong? http://ow.ly/hGRE50wWRCv

09.01.2022 Did anyone else blink and realise it is now February?! The ATO knows this and all December quarter BAS are due 28 Feb (normally it is only BAS & tax agents that have access to the additional month to lodge)

08.01.2022 Happy Valentines Day! Today I celebrate my love for my wife, my children, and the Income Tax Assessment Act

08.01.2022 With legislation passed for the next phase of JobKeeper, something of interest will be an additional checkbox when completing the submission, confirming if an alternative test was used. Businesses that are looking to apply for the JobKeeper extension using one of the alternative tests will now need to indicate to the ATO that they are doing so. The first time I think you’ll all remember it all happened quite quickly and we had to get things up and running, so we didn’t reco...rd any information about who used an alternative decline in turnover test, said ATO senior director Michelle Allen. For the actual decline in turnover test that you need to fill in for JobKeeper [2.0], if you are using an alternative period for your decline, you will need to tell us and indicate that and advise which test it is. Given the additional complexity of applying the alternative tests, it would not be a surprise to see these businesses more likely to have questions asked of them in due course. So as with the first round, it will be of critical importance to take care in the calculation, and have supporting documents to assist in verify the calculation if it is ever questioned.

07.01.2022 It was only a matter of time, but the ATO has launched a soft restart of its debt and lodgement activities as it looks to re-engage with businesses. As always, we recommend communicating and working with the ATO rather than burying your head in the sand. http://ow.ly/VykT50Blxdw

07.01.2022 This year ANZAC day is different, but we will always remember. It was great seeing the community response with lots of people out in their driveways, honouring the sacrifice made by many.

06.01.2022 Happy New Year!! And yes I did actually celebrate by going out to dinner last night with some accounting friends

05.01.2022 Xero user? Like free stuff? Well they might not be discounting subscriptions but they have included Hubdoc for free. So if you are still manually processing invoices please stop and click the link below to activate Hubdoc. http://ow.ly/yZLj50zdiW4

04.01.2022 Sometimes free is not better. For small business having to pay for accounting software when you are struggling to generate revenue is frustrating when there are services out there for free, but we recommending thinking about the service you are getting and the security risks of your financial information when it comes to choosing which software to go with. There are a lot of Australian businesses that use Wave and so with the removal of bank feeds now is a good time to reconsider your needs. http://ow.ly/bbQH50wYXhd

03.01.2022 For the fortunate who are able to work from home, below is a good starting point to look at in relation to what you will be able to claim in your 2020 tax return. http://ow.ly/HsWH50zdeF1

03.01.2022 Running late for the 31 October tax return lodgement deadline? Don't stress, if you lodge via a tax agent it isn't due yet If you are lodging yourself, MyGov is making it a lot easier these days, although there are some rule changes this year, in particular those working from home during COVID19, they may still make it worthwhile going through an accountant.

02.01.2022 Going into this long weekend, for those in business you might be using some of the additional time you have by not having family gatherings and holidays due to COVID-19 by getting your March BAS up to date in order to obtain some of the Government Stimulus available. Please be aware that these submissions will be closely scrutinised to ensure that there are no attempts to change a business structure or change the characterisation of payments to access the governments stimulus measures, as disciplinary action will result. http://ow.ly/1Qjp50z9Ba2

02.01.2022 And the confusion continues with the future of JobKeeper... this will make accessing it easier for businesses but suspect it will change further anyway. http://ow.ly/sbGF50AT5LA

02.01.2022 I started the beard when we went into lockdown with COVID19, and coincidently doing my best Obi Wan Kenobi impression for #maythe4thbewithyou

01.01.2022 Happy Halloween! We took our boys out trick or treating tonight for the first time. Definitely a lot of fun with more and more homes in the hills getting involved, and great seeing all the kids out having fun. Certainly a nice way to round out the day!