Welcome to our April monthly newsletter!

We are delighted to announce that a new employee has joined our team! The role of Junior Accountant will be filled by Stacey Rees. Stacey is a local mum who lives in Kingaroy with her husband and children. She is currently studying a Bachelor of Business (Accounting) and aims to complete her degree later on this year. Please make sure that you welcome her if you see her around our office.
Please note that we are trading under our usual business hours and are currently still open to the public. We do kindly ask that during this time, face to face appointments are kept to a minimum. We encourage you to correspond with us via email and telephone but still offer face to face appointments if necessary. If you have a consultation booked with us then please wash your hands prior to coming in, ensuring you come in with only the necessary persons for the consultation and contacting us prior to reschedule if you are experiencing any sickness. This is in respect to our staff and other clients.
Head on over to our Website
Monthly tax tip:
The Government has announced an increase in tax benefits in response to the Coronavirus outbreak. Below is the list of key tax measures and payments available to small businesses that have been included in the $83.6 billion economic stimulus package.
• The instant asset write-off threshold has been increased from $30,000 (for businesses with a turnover of less than $50 million) to $150,000 (for businesses with a turnover of less than $500 million) from 12th of March to 30th of June 2020

• Immediate 50% deduction of the cost of an eligible asset with the balance to be depreciated under current depreciation rules for assets purchased from 12th March 2020 to 30th June 2021

• Tax-free payments from $20,000 to $100,000 for eligible small and medium businesses that employ staff based on their PAYG withholding obligations – this will be applied as a credit of 100% of the PAYG withheld when lodging an activity statement from March to June 2020 with the ATO

• Relief from the ATO for some tax obligations for persons affected by the Coronavirus outbreak – deferral of certain lodgements and payments

• Temporary relief for directors from any personal liability for trading whilst insolvent

• Wage subsidies to support employers who pay apprentices and trainees – employers who employee less than 20 full-time employees may be entitled to apply for a wage subsidy that will cover 50% of an apprentices or trainees wages for up to nine months from 1st January to 30 September 2020 with a maximum subsidy of $21,000 for each employee

If any of the above points apply to you or your business then please ensure that you apply for them to receive your full entitlement. Please note that some of the benefits are automatic and do not require an application but you do need to ensure that you are eligible. We will be available to answer any questions on the new stimulus package benefits and assist your business to gain these entitlements if required.
If you would like to schedule a consultation with us then please jump onto our website where you can see our availabilities and book a time that suits you.
Book an Appointment

 

Important Dates!
21 April:

  • Lodge and pay March 2020 monthly business/instalment activity statement

28 April:

  • Make super guarantee contributions for quarter ending 31 March 2020 to funds by this date
  • Lodge and pay quarter ending 31 March 2020 activity statement if lodging by paper
  • Pay quarter ending 31 March 2020 instalment notice. Lodge the notice only if you vary the instalment amount

30 April:

  • Lodge TFN report for closely held trusts for quarter ending 31 March 2020

 

Click to email us about the above
Scroll to Top