ZT Partners Chartered Accountants in Coburg North | Finance

ZT Partners Chartered Accountants

Locality: Coburg North

Phone: +61 3 9943 5232

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24.01.2022 Do you have time to do a quick Google review on our business page? We would love to hear from you! ZT Partners has been busy supporting our valued clients during this current Covid-19 crisis. We have been assisting business and individuals to ensure that they can access all the grants and government incentives that they are eligible to claim to help them through this difficult climate. As we ramp up to the EOFY, we remain committed to that continued dedicated and professional... support. As always, we are just a phone call away if you have any questions. If you have a few minutes to leave us a Google review, please follow the link below.

20.01.2022 JobKeeper 3.0 On 21 July 2020, the Government announced that the JobKeeper Payment (‘JKP’) would be extended until 28 March 2021 ... As a result, JKPs would now be made over two separate extension periods, being: Extension period 1 28 September 2020 and end on 3 January 2021; and Extension period 2 4 January 2021 and end on 28 March 2021. Furthermore, on 7 August 2020, the Government announced adjustments to JobKeeper 2.0 to expand the eligibility criteria for JKP primarily in the wake of the tougher COVID-19 restrictions recently imposed in Victoria. The adjustments contained within JobKeeper 3.0 will apply nationwide, and the crucial amendments include the following: Adjustments to employee eligibility From 3 August 2020, the relevant date of employment will move from 1 March 2020 to 1 July 2020. This is designed to increase employee eligibility for both the existing JKP scheme, as well as for the new extension periods from 28 September 2020. Casual employees will still be required to have been employed on a regular and systematic basis for a minimum of 12 months (as is required under the existing JKP scheme). Adjustments to the ‘Decline in Turnover Test’ To qualify for the JKP in the extension periods, businesses will now only have to demonstrate that their actual GST turnovers have significantly decreased in the previous quarter under JobKeeper 3.0. Specifically, to be eligible for the JKP Extension Period 1, businesses only need to demonstrate a significant decline in turnover in the September 2020 quarter (whereas under the previously announced JobKeeper 2.0, they would have been required to show that they had suffered a significant decline in turnover in both the June and September 2020 quarters). To be eligible for the JKP Extension Period 2 businesses only need to demonstrate a significant decline in turnover in the December 2020 quarter. Importantly, the dual payment rate system originally proposed in JobKeeper 2.0 will remain, with the full rate of payment decreasing from $1,500 to $1,200 per fortnight from 28 September 2020 and then to $1,000 per fortnight from 4 January 2021. The proposed reduced rates (being $750 from 28 September 2020 and $650 from 4 January 2021) will also remain for employees and business participants who worked fewer than 20 hours per week in the relevant period. How does this impact your business’s eligibility and payments? The team at ZT Partners will be assessing your business turnover in the upcoming quarters and will advise whether this affects your ongoing Jobkeeper payments. It is critical that you provide accurate and up to date information if and when requested to ensure that we can review your information in a timely manner. If you have any queries relating to this, please don’t hesitate to contact one of the team to discuss.

17.01.2022 JobKeeper 3.0 On 21 July 2020, the Government announced that the JobKeeper Payment (JKP) would be extended until 28 March 2021 ... As a result, JKPs would now be made over two separate extension periods, being: Extension period 1 28 September 2020 and end on 3 January 2021; and Extension period 2 4 January 2021 and end on 28 March 2021. Furthermore, on 7 August 2020, the Government announced adjustments to JobKeeper 2.0 to expand the eligibility criteria for JKP primarily in the wake of the tougher COVID-19 restrictions recently imposed in Victoria. The adjustments contained within JobKeeper 3.0 will apply nationwide, and the crucial amendments include the following: Adjustments to employee eligibility From 3 August 2020, the relevant date of employment will move from 1 March 2020 to 1 July 2020. This is designed to increase employee eligibility for both the existing JKP scheme, as well as for the new extension periods from 28 September 2020. Casual employees will still be required to have been employed on a regular and systematic basis for a minimum of 12 months (as is required under the existing JKP scheme). Adjustments to the Decline in Turnover Test To qualify for the JKP in the extension periods, businesses will now only have to demonstrate that their actual GST turnovers have significantly decreased in the previous quarter under JobKeeper 3.0. Specifically, to be eligible for the JKP Extension Period 1, businesses only need to demonstrate a significant decline in turnover in the September 2020 quarter (whereas under the previously announced JobKeeper 2.0, they would have been required to show that they had suffered a significant decline in turnover in both the June and September 2020 quarters). To be eligible for the JKP Extension Period 2 businesses only need to demonstrate a significant decline in turnover in the December 2020 quarter. Importantly, the dual payment rate system originally proposed in JobKeeper 2.0 will remain, with the full rate of payment decreasing from $1,500 to $1,200 per fortnight from 28 September 2020 and then to $1,000 per fortnight from 4 January 2021. The proposed reduced rates (being $750 from 28 September 2020 and $650 from 4 January 2021) will also remain for employees and business participants who worked fewer than 20 hours per week in the relevant period. How does this impact your businesss eligibility and payments? The team at ZT Partners will be assessing your business turnover in the upcoming quarters and will advise whether this affects your ongoing Jobkeeper payments. It is critical that you provide accurate and up to date information if and when requested to ensure that we can review your information in a timely manner. If you have any queries relating to this, please dont hesitate to contact one of the team to discuss.

16.01.2022 We are still open for business. As new Covid-19 Stage 4 Victorian restrictions come into place from Wednesday 5th August closing many businesses, ZT Partners finds itself in the same boat as many of our valued clients. We have no choice but to close our office for the next six weeks but the good news is that its business as usual; we are just not physically together in Coburg. All staff are now set up to work remotely and are able to respond to all matters via mobile phone a...nd email in the usual manner. Toni, Avril and Aysha will remain your first port of call for all accounting and taxation matters. They will be providing their professional support and guidance to ensure that all eligible clients can access the relevant government stimulus packages in the most efficient timeframe as is practicable. We ask that you be patient during this time as we wade through the ever-changing legislation. We want to ensure that all our clients can emerge from this unprecedented time in the best possible financial position. As Practice Manager, I can provide support to you for your general enquiries include matters relating to Workcover, ASIC, your general ATO obligations and commitments, including setting up payment plans with the ATO if required, as well as your ZT Partner account balances and payment arrangements. I ask that you channel these general queries through me so that our accountants can focus their time on the more taxing matters. As the office is now closed, we are no longer able to take credit card phone payments. It would be greatly appreciated if you could either pay via direct Bank transfer or utilise the payment link sent out with your ZT Partners invoices. We are all feeling the financial strain and would greatly appreciate your timely payments of our accounts. If you are unable to pay your invoices in full, please feel free to call me to discuss a payment plan or part payment of your account as any contribution is welcomed. Keep an eye out for further email communications, ZT website, Facebook and Google page updates as we endeavour to keep you informed of relevant updates. On behalf of Toni and the team at ZT Partners, I would like to take the opportunity to thank you for your ongoing support. Wishing you and your families all the very best through these extremely challenging times. Stay well, stay safe. Kind regards, Vanessa Cook Practice Manager Please feel free to contact me directly through Facebook or the relevant details listed on our website

14.01.2022 ZT Partners Coburg Office is now permanently closed. Due to ongoing Stage 4 COVID-19 restrictions in Victoria, ZT Partners has made the difficult decision to permanently close the Moreland Rd Office. All our staff are now remotely set up to assist all our clients for the foreseeable COVID- normal future and are available to respond to queries via email or mobile.... The exciting news is that we will reopen in a modern and convenient new location in North Coburg. Construction and refurbishment has been underway for some time and we hope to put the finishing touches on our new premises as soon as restrictions permit. Contact details In the interim: Our postal address remains the same. PO BOX 66 Moreland VIC 3058 Mail is monitored and is being appropriately redirected Our phone number remains active: 9943 5232 Phone calls to this numbers are redirected but please feel to call me directly on 0417 591 354 Over the phone payments have been reinstated. Please contact me on the above mobile. Emails and mobile contact details remain unchanged as well. Our aim is to continue to provide uninterrupted service to all our clients as we ride out these challenges. If you have any further queries, please dont hesitate to contact me. Kind regards, Vanessa Cook Practice Manager 0417 591 354

10.01.2022 Victorian Business Resilience Package About the package The Victorian Government is investing $3 billion to help businesses impacted by ongoing restrictions and prepare for COVID Normal business. $3 billion in cash grants, tax relief and cashflow support will be delivered to Victorian businesses that have been most affected by coronavirus (COVID-19) restrictions. The package will help businesses survive and keep Victorians in jobs.... Business Support Small and medium sized business ($822 million): The third round of the Business Support Fund will provide up to $20,000 for business with a payroll of up to $10 million. Grant applications open on Friday 18 September 2020. Licensed Hospitality Business ($251 million): Grants of up to $30,000 for licensed pubs, clubs, hotels, bars, restaurants and reception centres, based on their venue capacity and location. Business Chambers and Trader Groups ($3 million): A competitive grants program to support metropolitan and regional business chambers and trader groups. Alpine businesses ($4.3 million): Grants of up to $20,000 to help alpine businesses pay a service charge to Alpine Resort Management Boards. Sole Trader Support Fund ($100 million): Grants of up to $3,000 to over 30,000 eligible sole traders who operate from a commercial premises or location to which the sole operator is the tenant or licensee. Business Adaptation The package also provides additional funding, tools and resources to help businesses adapt and prepare for reopening under COVID normal settings. $20 million voucher program to assist sole traders and small businesses in building their digital capability $15.7 million package to help Victorian exporters get their products to market and establish new trade channels. $8.5 million expansion to the Click for Vic campaign to encourage more Victorians to support local businesses. $87.5 million Outdoor Eating and Entertainment Package to support hospitality businesses prepare for COVID Normal reopening across Victoria. $100 million Melbourne City Recovery Fund between the Victorian Government and the City of Melbourne to support Melbourne on the roadmap for reopening to COVID Normal in the lead up to Christmas and during summer. Waivers and deferrals The Government is also providing $1.8 billion in tax and cashflow support. $1.7 billion to defer payroll tax for businesses with payrolls up to $10 million for the full 2020-21 financial year $41 million to bring forward the 50% stamp duty discount for commercial and industrial property for all of Regional Victoria $33 million to defer the planned increase in the landfill levy for six months $30 million to waive 25% of the Congestion Levy this year, with the outstanding balance deferred. $27 million in liquor license fee waivers for 2021 $6 million to waive Vacant Residential Land Tax for vacancies in 2020.

09.01.2022 The 2020 Australian Budget at a glance what it means for you. Thanks to the Covid -19 pandemic, we are experiencing the most severe global crisis since the Great Depression. On Tuesday, the Federal government handed down one of the most elaborate budgets to assist Australians to pull through these unprecedented times. It covers reforms to taxes, jobs, welfare payments, education and support to small businesses, just to name a few. I have provided a brief snapshot below for y...ou, with more details available from our website. Tax breaks to millions of Australians include: a permanent cut of $47 a week for high-income earners. Middle-income earners will also receive a one-off $21 with extension of the low and middle-income tax offset into 2020-21. From 2020-21, the upper limit of the 19% personal income tax bracket will rise to $45,000 and the 32.5% marginal tax rate upper threshold will lift from $90,000 to $120,000. Incentives to hire young workers: Businesses will be paid up to $200 per week to hire young Australians Small Business will be able to: deduct the full cost of capital assets purchased after budget night and first used or installed by 30 June 2022. Apply full expensing to second-hand assets; businesses earning $50m to $500m will be able to do so for assets of less than $150,000. offset losses against previous profits on which tax has been paid, to generate a refund. Apply for Tax-free support grants The team at ZT partners are more than happy to discuss these with you and help decide how we can best help you through these challenging times. Please don’t hesitate to pick up the phone and give us a call, book a Zoom meeting via the website or email us for further information. Just a reminder that the Coburg office is permanently closed and all staff are working remotely, full steam ahead. Our new premises is not far from completion now and we are looking forward to escaping our home offices.

09.01.2022 ZT Partners will be relocating mid year and has a vacant office space in our new premises. (currently under construction) If you, or anyone you know is in need of a new outlook and are interested in sharing our office space, please contact Vanessa for further information. Please refer to the ad below for more details. Office Space for rent- seeking a Financial Planner, Mortgage Broker, Legal Professional or similar to complement our boutique northern suburbs Chartered Account...ing Firm. Our Accounting Firm is looking for a Financial Planner, Mortgage Broker, Legal Professional or similar to rent available office space located within our new premises. Located 20 mins from the CBD and close to public transport, we have ultra-modern light and spacious offices including internet and printing and telephone line available, access huge to communal area, meeting room and kitchen and bathroom facilities. Ample free car parking available. Huge traffic exposure and exposure to other neighbouring businesses. Close proximity to Lincoln Mills Homemaker Centre, Coburg, 8 mins walk to Batman Station. Opportunity to team up with accountants for referrals. Independently advertise your business on building as well. Available: Expected move in date July 2020 Office size: Approx. 14sqm Rent: $1,100 + GST a month inclusive of all facilities Location: 3/9 Dawson Street, Coburg. Direct enquiries to Vanessa Cook [email protected] 03 9943 5232

05.01.2022 HomeBuilder is a time-limited grant program to help the residential construction market to bounce back from the Coronavirus crisis. HomeBuilder will provide eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home where the contract is signed between 4 June 2020 and 31 December 2020. Construction must commence within three months of the contract date. To access HomeBuilder, owner-occupiers m...ust meet the following eligibility criteria: you are a natural person (not a company or trust); you are aged 18 years or older; you are an Australian citizen; you meet one of the following two income caps: o $125,000 per annum for an individual applicant based on your 2018-19 tax return or later; or o $200,000 per annum for a couple based on both 2018-19 tax returns or later; you enter into a building contract between 4 June 2020 and 31 December 2020 to either: o build a new home as a principal place of residence, where the property value does not exceed $750,000; or o substantially renovate your existing home as a principal place of residence, where the renovation contract is between $150,000 and $750,000, and where the value of your existing property does not exceed $1.5 million; construction must commence within three months of the contract date. Should you have any queries please do not hesitate to contact the team at ZT Partners for more information.

05.01.2022 Instant Asset Write-Off Tax Break Extended for Another Six Months. Businesses making up to $500 million per year will be allowed to continue writing off newly purchased or second-hand assets worth up to $150,000 designed to boost cash flow by bringing forward tax deductions. Businesses will be able to purchase equipment, machinery or tools, up to a value of $150,000. Assets can be new or second hand, and must be used or installed by 31st December 2020.... The six-month extension means business buyers who may not be able to take delivery of assets such as a new work vehicle before the original 30 June 2020 deadline can now take advantage of the tax benefit in the 2020/2021 financial year. Before making any large purchases, we suggest you speak to ZT Partners and assess how the asset will benefit your business and how the purchase may impact on your cash flow or finances in the short term. Should you have any queries please do not hesitate to contact us.

05.01.2022 Did you know...... Workplace manslaughter is now a jailable offence. Victorias tough new laws keeping workplaces safer. The Workplace Safety Legislation Amendment (Workplace Manslaughter and Other Matters) Act 2019 is now in effect, commencing 1 July 2020....Continue reading

03.01.2022 We are now live on Facebook and Google Business. We would love to hear from our valued clients, so please feel free to leave us a Google review. Contact us if you would also like a testimonial to be featured on our official website.