Business

17 Jun, 20

Home office expenses

Source: https://www.ato.gov.au/ If you’re an employee who works from home, you may be able to claim a deduction for expenses you incur relating to that work. These can be additional running expenses such as electricity, the decline in value of equipment or furniture and phone and internet expenses. If your home is your principal place […]

17 Jun, 20

Accessing your income statement or payment summary

Source: https://www.ato.gov.au/ How you get your end of financial year information from your employer showing your earnings for the year (also known as an income statement or payment summary) depends on how your employer reports your income, tax and super information to us. You will be provided with either: an income statement – if your […]

17 Jun, 20

Claiming mobile phone, internet and home phone expenses

Source: https://www.ato.gov.au/ If you use your own phone or internet for work purposes, you may be able to claim a deduction if all of the following conditions apply: you spent the money yourself the expense is directly related to earning your income you must have a record to prove it. You can’t claim a deduction […]

17 Jun, 20

Tax tips: How the coronavirus can help you get a larger refund

Source: https://thenewdaily.com.au/ The coronavirus pandemic has shifted the way we conduct our personal finances, and with June creeping up, tax time is no exception. Strict social distancing measures have forced millions of Australians to work from home for the first time, throwing up a raft of new deductions. Mozo.com.au consumer advocate Tom Godfrey told The New […]

12 Jun, 20

Small businesses fail to seek cash-flow management help

Source: https://www.mybusiness.com.au/ Less than a sixth of small and medium businesses are engaging their accountants for assistance with cash-flow management despite its importance, says a non-bank lender. According to a Scottish Pacific report, SME Growth Index, only 16.1 percent of SMEs are seeking cash-flow management advice from their accountants. Scottish Pacific chief executive, Peter Langham told […]

08 Jun, 20

Time To Think About EOFY Important Actions For 2020

No wonder, 2019-2020 has settled in our memories with unforgettable experiences. But with the end of this financial year, you need to review ‘what is your financial position right now.’ For instance, everyone is well-acquainted with how we are dealing with the global pandemic COVID-19 impact. Hence, there’s nothing wrong with saying that this year […]

23 May, 20

How to upskill when you’re self-isolating

Source: https://www.hays.com.au/ The ongoing COVID-19 outbreak has seen rapid and significant change sweep across the world of work, with organizations activating business continuity plans and transitioning their employees to remote working. For a large proportion of us, then, our day-to-day working lives now look very different to just a few weeks ago. Added to this […]

28 Apr, 20

Employers’ frequently asked JobKeeper questions

Source: https://www.ato.gov.au/ General Question: What’s the difference between JobKeeper and JobSeeker? Answer: The JobKeeper scheme supports businesses to retain their employees by contributing to their salary and wages and is administered by the ATO. Eligible businesses are required to register with the ATO to receive these payments for their eligible employees. JobSeeker payments are a form of […]

20 Apr, 20

ATO tax return: Tax Office reveals new working from home expenses rules

Source : https://www.news.com.au/ The tax office has announced special arrangements this year – and it affects everyone working from home due to the coronavirus crisis. The Australian Taxation Office has made a major change this year as a result of the ongoing COVID-19 pandemic. With countless Australians now working form home in a bid to […]

23 Mar, 20

Government announces a $66 billion second coronavirus stimulus: What’s available to small businesses, and how do I claim it?

Source: https://www.smartcompany.com.au/ Just 10 days after announcing its coronavirus stimulus package, the Morrison government has released a second, beefed-up and more robust version. The new $66.1 billion economic plan bolsters the measures of the first $17.6 billion pledge and is intended to help small businesses stay afloat, and keep people employed until the coronavirus-related economic downturn has […]

Home office expenses

Accessing your income statement or payment summary

Claiming mobile phone, internet and home phone expenses

Tax tips: How the coronavirus can help you get a larger refund

Small businesses fail to seek cash-flow management help

Time To Think About EOFY Important Actions For 2020

How to upskill when you’re self-isolating

Employers’ frequently asked JobKeeper questions

ATO tax return: Tax Office reveals new working from home expenses rules

Government announces a $66 billion second coronavirus stimulus: What’s available to small businesses, and how do I claim it?

Looking for Trusted Business Advisor and Accountants ?

Newsletter

Open Hours: