Young Martin & Associates Pty Ltd | Financial service

Young Martin & Associates Pty Ltd

Phone: +61 8 8258 3471

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22.01.2022 Jobkeeper What is it? Wage subsidy of $1500 per fortnight before tax, paid to eligible employers for employees on the books as at 1st March. The employer must pay wages and the Government will reimburse $1500 for each eligible employee.... Who's eligible? Employers - whose turnover will be reduced by 30% relative to a comparable period a year ago. This is self-assessed by the employer. Employees those currently employed (including those stood down); were employed by the employer at 1 March 2020; casuals employed on a regular basis for more than 12 months. Businesses without employees, such as self-employed persons, who satisfy the 30% reduction in turnover. Payment 1st Payment will be made in 1st week of May. Payments will be made to the employer by the ATO, monthly in arrears. (ie 1st payment will cover April’s wages) How to Apply https://bit.ly/2UtzTot FAQ Is super payable on this Jobkeeper payment? No What if an employee is only paid $1200 a fortnight? The employer will need to increase wage amount to $1500 a fortnight to receive the Jobkeeper for this employee. My business has closed and employees have been stood down, am I eligible? Yes and employees are entitled to receive the $1500/fn provided employer pays the employees prior to receiving the Jobkeeper. If you need anymore information, please contact our office

21.01.2022 One of our tax agents, Brad (who we're sure a lot of you already know!) has decided to go Dry this July with his partner, Cindy! Brad loves a good craft beer, but he has decided to take on the challenge and raise money for the Leukaemia Foundation in the process. He's been dry for over a week already and so far, so good If you would like to donate to Brad in his Dry July Foundation Challenge, click on the link below! ... Every little bit helps to help those affected by this horrible illness. PLUS any donation over $2 is tax deductible, which we're sure Brad and the YMA tax agents can help you with!! https://bit.ly/3ecB7v3

19.01.2022 The YMA coffee tally for today so far Keeping themselves fuelled the best way they know how through tax time If you haven't already, make sure you book an appointment to see one of our tax agents on 8258 3471 They are fuelled up and ready to go!

19.01.2022 DON'T FORGET! The YMA appointment book is filling up quickly! Don't forget to call and make your appointment to see Vin, Brad, Geoff or Mia! Give us a call on 8258 3471 and schedule yourself in!!

16.01.2022 Have you met Brad? Brad is one of the OG accountants here at YMA, being here a whopping 21 years! Not only that, he even did some work experience here when he was still in High School so it’s safe to say he knows the practice like the back of his hand! Most of you may know Brad, but if not, he’s the one with the big beard wandering the hall of the YMA building! ... Brad has many specialities including taxation, client advice, auditing and financial accounting. Away from his life as an accountant, Brad has many interests. On Saturday nights in the Summer you can find him at the Speedway track racing his Wingless Sprintcar! When he’s not driving or counting, Brad is a bit of a beer connoisseur and spends a bit of time at craft beer breweries drinking various beer styles and in case you’re wondering he loves a good Mismatch Session Ale! Be sure to say hi next time you’re in the office

16.01.2022 DON'T FORGET! The monthly declaration for Jobkeeper, fortnights 5 & 6, are due next Tuesday 14th July! Put it in your diary before you forget!

12.01.2022 REMINDER! Don't forget your BAS lodgements are due tomorrow (28th July)! Give us a call on 8258 3471 if you need any advice or assistance from our professional tax agents

11.01.2022 Happy New Financial Year! It's that time of the year again! The start of tax season Our tax agents are ready and raring to go!! Make sure you book in quick to make sure you get your desired appointment time! ... See you soon!

10.01.2022 Always keeping up to date - Brad & Geoff are in Sydney this week for The Tax Summit 2020! They'll be coming back ready and armed with current knowledge and information to get your tax done this season!

09.01.2022 With all the uncertainty surrounding the COVID-19 and the subsequent government changes to the way we interact, we wanted to give some assurance and clarity to our clients. These social distancing conditions are expected to be in place for at least the next 6 months, which will encroach into the peak tax season. This doesn’t mean you have to wait till after September to have your tax done. Our staff are and will be continuing to work as per normal and will still be seeing cl...ients during this time. If you’d rather not attend your appointment then we understand and have options available to do your appointment remotely. This is something we already do for many clients. We have already implemented additional hygiene practices including cleaning of desks & chairs after each appointment, as well as having hand sanitiser available for clients to use. We won’t be encouraging staff to elbow bump clients as that’s just weird, but they will unfortunately be refusing handshakes. In difficult economic times contact with your accountant is even more essential and we want to assure our clients that YMA is open and here to help. So, whether you need our services today or in August, please contact our office.

05.01.2022 Job keeper 2.0 explained You will need to register your business for Job Keeper again at the end of September. If you're eligible - this will be the outcome below. If you have any questions or need advice from one of our tax agents, please call us on 8258 3471 or send us a DM ... Infographic credit: The Tax Institute

05.01.2022 If you are trying to access the Job Seeker Allowance from Centrelink you don't need a Centrelink CRN or need to contact Centrelink to apply Here's a how to guide: Create a MyGov account.... Link it to any Government Service (eg. Medicare, ATO). An "Intent to Claim" button will appear when you log in. Complete the details and Centrelink will contact you. If you need any help with the above please contact our office

02.01.2022 Government announces $17.6bn plan to battle coronavirus Some of the key point of interest are: $700 million to increase the instant asset write-off threshold $6.7 billion to boost cash flow for employers... $1.3 billion to support small businesses to support the jobs of around 120,000 apprentices and trainees Contact us to discuss your situation and what you may be eligible for. https://bit.ly/2U7y8Mj

01.01.2022 $10,000 Emergency Cash Grants for Small Businesses Small businesses that employ South Australians who have been highly impacted by the COVID-19 pandemic may be eligible to receive a $10,000 grant to support the operation of their business. To be eligible, businesses including eligible sporting and community organisations will need to:... Employ people in South Australia. Have annual turnover of more than $75,000 (GST exclusive). Have an annual payroll of less than $1.5 million, and not be entitled to a payroll tax waiver under COVID-19 support measures introduced by the South Australian Government. Have an ABN and were carrying on the operation of the business in South Australia on 1 March 2020. Have been subject to closure or highly impacted by COVID-19 related restrictions*. Apply by 1 June 2020. Use the funds to support activities related to the operation of the business. Applications for the grant will open shortly. To register, please visit https://bit.ly/2wIgyak or contact us for any questions. * Businesses eligible for the Commonwealth JobKeeper payment will be deemed to be highly impacted by COVID-19 restrictions.