Tax Time 2020 – Covid and Other Challenges
The time to prepare for the end of the financial year is BEFORE 30 June. Seems simple when you say it – but many businesses do find it challenging – which is why reaching out for help from professional advisers like your tax accountant can be important. Reviewing your business performance and maximising your tax […]
30 June and Tax Time Tips
30 June and Tax Time Tips These are all general tips for you to think about – some specifically relate to your potential tax outcome and others are business operational matters that could be worth considering. Is it claimable and do I have the records? Good record keeping and having clear conversations with your […]
Understanding the ATO Instant Asset Write-Off
The ATO’s instant asset write-off is another form of financial relief the ATO and the Federal Government has included and expanded on in the COVID-19 relief schemes. First developed in 2015 as a way of enabling small businesses to claim the depreciation amount of a work-related purchase like a car or a computer in one hit, rather […]
JobKeeper Explained: What is it and Who is Eligible?
JobKeeper was introduced in April 2020 and is an effort being made by the Federal Government to support eligible businesses effected by COVID-19 to cover the costs of their employee’s wages, on condition that the business has experienced a loss of a predetermined portion of their turnover. Around $130 billion will be paid to hundreds […]
Common Tax Scams
Common Tax Scams Common tax scams hit hundreds of Australians every year around tax time. In fact, according to Scamwatch, scammers cost Australians $489 million in 2018! Tax scams are a major problem for individuals and businesses around Australia, with many people falling victim to fraudulent emails, phone calls and text messages, identity theft and […]
Announcement of Retirement: Bert Girle
It is with great honour that we announce the retirement of Bert Girle from Agilis CA this April. This follows a very long and successful career spanning over 40 years.
The Value of JobKeeper to Your Business
If you are eligible to receive the JobKeeper payment for all your eligible employees for the entire 6 month period, we have estimated that you would receive the total JobKeeper payment amount below: This equates to $ 19,500 per employee or eligible business participant for over 6 months. This is a great help to business […]
The Second Govt Stimulus Package: What Business Owners Need To Know
Yesterday, the Australian Federal Government delivered a substantially increased package available for individuals and small businesses. You can read the official government release here. For those of you that prepare your own BAS, I’d recommend that you consult with us before lodging the March 2020 BAS, so we can ensure your small business avails itself […]
The Second $66.1 bn Stimulus Package: What Individuals and Families Need To Know
The Australian Federal Government delivered a substantially increased package available for individuals and small businesses yesterday to ease the economic downturn from the Coronavirus pandemic. Affinitas Accounting is a member of professional associations, thought leadership groups and specialist private forums. There have been numerous discussions across all of these as to the interpretation of […]
Tax Season Starts With Big Bang
The much-talked-about 2019 tax cuts are now legislation and it certainly seems to have sparked taxpayers into action in relation to lodging their 2019 tax returns. So much so – that the ATO computer and phone systems already have gone into meltdown and been offline on quite a few occasions. I suppose it’s only […]
