JobKeeper Payment - How to apply
Register your business by the 26th of April
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Register your business by the 26th of April
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The JobKeeper Employee Nomination Notice is to be completed prior to enrolling for the JobKeeper Payment
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The JobKeeper Nomination notice for eligible business participants – excluding sole traders to be completed prior to enrolling for the JobKeeper Payment.
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The JobKeeper Nomination process for sole trader, eligible business participants.
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Self Managed Super Funds will be affected by measures detailed in the 2016 Budget
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The ATO are targeting unpaid employer superannuation contributions, in the following industries:
1. Child care services,
2. Building and industrial cleaning, and
3. Pubs, bars and taverns.
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If you have the available funds, you are better to pay for a car outright without finance. Most cars will depreciate each year, especially new cars, which will go down in value as soon as you drive it out of the car yard.
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As usual the answer depends on your circumstances.
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The rules will change from 1 January so that any super fund pensions that start from 1 January or change after date, will no longer be exempt from the income test for working out if you qualify for a Centrelink Pension.
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For the year ended 30 June 2014 for every 1,000 people living in Queensland, 1.8 people either became bankrupt or entered into a personal insolvency agreement (Part X).
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Almost four months after the government’s 2014/15 Budget they are still trying to get the legislation passed by both houses of parliament. On Thursday 28 August the government will try again to have the legislation passed.
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Everybody pays the Medicare levy rate of 1.5% until the 1st July 2014, after which the rate will increase to 2%. There are exemptions to this rate including low income, veterans and foreign residents.
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Over the Christmas holidays Accumul8 will be closed from Friday the 19th of December 2014 and will reopen on Monday the 5th of January 2015.
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15th of May is the deadline for most tax returns to be lodged for the 2013 tax year if you use a tax agent. If lodged after that date, the Australian Taxation Office may charge you late lodgement penalties and general interest charge for late payment.
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At the end of 2013 financial year, one in every five super accounts had no owner. This is a whopping $18.9 billion in lost superannuation. Could some of this money be yours? Chances are, if you’ve ever changed your name, address or occupation, you may be richer than you think!
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The ATO has announced a data matching program in relation to electronic payments made to businesses through specialised payment systems.
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Speak to us today about transferring your data electronically.
If your cupboards are filling with shoe boxes full of Bank Statemets, Contract Note PDF's and Dividend Statements. Then it's time to make the switch and start transferring your data electronically.
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If you lodge your own tax return or this is your first return, then you need to lodge the return by 31 October.
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Aaron Dunn of the SMSF Academy released a report on the future of SMSF on 28 August.
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A good strategy to reduce tax payable is normally to accelerate any income tax deductions in the current income year, which will reduce overall taxable income in the current year and defer any income to the following year.
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The ATO has recently introduced a new "simplified" system called Superstream that makes employers with more than 20 employees report their super contributions on behalf of employees by submitting data electronically to their Super Funds.
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If you are over 55 years of age you may be able to boost your super savings whilst saving on your tax bill.
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Small business that buy an asset that cost less than $6,500, are able to claim the full amount as a tax deduction, if purchased prior to 31 December 2013.
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You no longer need to mail your passport to the Tax Office to apply for a tax file number.
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From 1 July 2013 the Superannuation Guarantee(SG) will increase from the current 9% to 9.25% of wages.
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This is a complicated area that affects:
1. Being able to claim an income tax deduction,
2. Able to claim the Goods and Services Tax (GST) on the expense,
3. Pay Fringe Benefits Tax (FBT 46.5%) on the item.
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The above is the feeling by many in small business in Australia today.
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Email: consult@accumul8.com.au
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