ZT Partners Chartered Accountants in Coburg North | Financial service

ZT Partners Chartered Accountants

Locality: Coburg North

Phone: +61 3 9943 5232

Address: 3/9 Dawson Street 3058 Coburg North, VIC, Australia

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

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23.01.2022 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 don’t hesitate to contact me. Kind regards, Vanessa Cook Practice Manager 0417 591 354

21.01.2022 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.

12.01.2022 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.

12.01.2022 Notice of a ATO data-matching program We want to bring to your attention the following ATO alert that was recently received in regards to Federal Legislation. The Australian Taxation Office (ATO) will acquire property management data from property management software providers for the 2018-19 through to 2022-23 financial years. The data items include: ... Property owner identification details Rental property details Property manager details What this means for you: If your property is managed through these providers, the ATO will automatically have access to this information and match it to declared income on your tax return to ensure that the information aligns. If data-matching indicates discrepancies, further investigations may be triggered and rental property owners will be guided further as to how to meet their taxation obligations as part of an information and education campaign. Please ensure you are declaring any rental income on your tax returns. If you have not advised ZT Partners of any rental income, we urge you to get in touch with us as soon as possible so that we can ensure that individuals and businesses avoid any lengthy and costly investigations. For more information please visit:

10.01.2022 Super guarantee percentage and dates On 1 July 2021, the superannuation guarantee rate will increase from 9.5% to 10%. You and your clients need to ensure payroll and accounting systems are updated to reflect this change.

09.01.2022 The AFL 2021 Football Season is back and so is Footy Tipping! The Team at ZT invite you to join our Footy Tipping Competition. To sign up, please send us a message via Facebook for login details or give us a call.... Entry fee is $50 and must be received prior to the first round- Thursday March 18th Prize money will depend on number of entrants but we usually pay out to the first three places. Last years winner pocketed a cool $1,000 with balance of winnings split between 2nd and 3rd AFL FIXTURE Round 1 kicks of with Richmond vs Carlton on 18th March Followed by the match of the round Friday 19th March.... Collingwood vs Bulldogs! No bias shown here for the Doggies!

09.01.2022 ZT Partners has some amazing office space for lease. We are filling the remaining spacious offices with suitable tenants to compliment our business. With state-of-the-art facilities, light filled communal areas and great exposure to local and passing traffic near Lincoln Mills Homemaker Centre in North Coburg, escape your home office or upgrade to this extraordinary new location. With various office sizes and budgets to suit, your new office awaits. Please refer to the link b...elow or contact ZT Partners on 03 9943 5232 for further information. https://www.gumtree.com.au//ultra-modern-office/1267536969

04.01.2022 Centrelink Payments and your Obligations If you or your partner receive Child Care Subsidy and Family Tax Benefit payments from Centrelink, you and your partner must lodge your 201920 Individual tax returns by 30 June 2021. Lodgment deferrals with the ATO do not alter this requirement.... Centrelink needs your income details to balance payments for Child Care Subsidy and Family Tax Benefit. If tax return lodgment is not made by 30 June 2021: Child Care Subsidy: cancelled/lose your ongoing entitlement receive a debt from Centrelink and have to repay the amount received in the 201920 financial year Family Tax Benefit: miss out on additional payments receive a debt from Centrelink and have to repay the amount received for the 201920 financial year have their fortnightly payments stopped. If applicable please contact us and advise the team about your Centrelink payment status so we can assist with lodging your 2019-20 individual tax returns before the 30 June 2021 deadline. Should you have any queries please do not hesitate to contact the team at ZT Partners for more information.

03.01.2022 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.