Latest March newsletter has interesting articles including one exploring "employee benefits" and tax implications.
Download: Your Knowledge March 21.pdf
If you want to have a look at the article first go to the "Client Information" page: client information
Latest February newsletter has interesting articles with the main article being "how to sell your business"
Download: Your Knowledge Feb 21.pdf
If you want to have a look at the article first go to the "Client Information" page: client information
Latest December newsletter has interesting articles with the main theme being "2021 Risks & Opportunities"
Download: Your Knowledge Dec 20.pdf
Have a look at "Client Information" page: client information
Check out the November 2020 newsletter. Read the initial notes on the JobMaker scheme and how its going to work.
Download the newsletter: Your Knowledge Nov 20.pdf
you can also read it online at Client Information
Business owners that wish to access JobKeeper 2 will need to provide details to the Tax Office by the end of October 2020. If you need assistance and have not received JobKeeper previously please contact us on 02 4228 7933.
JOBKEEPER: THE NEXT STEPS.....
The first tranche of JobKeeper ended on 27 September 2020. We look at the issues for those seeking to qualify for the second tranche of JobKeeper and for those no longer eligible.
If the questions below apply to you then click here to read more Your Knowledge Oct 20.pdf
Is your business no longer eligible for JobKeeper payments?
Is your business eligible for JobKeeper payments from 28 September?
If your business is eligible do you need help Identifying the JobKeeper payment rates?
In this article Your Knowledge Oct 20.pdf it also explains how the the Government has stepped in to prevent a wave of insolvencies when the COVID-19 support measures run their course in December 2020.
Current JobKeeper ends on 27 September 2020. Those needing further support will need to reassess their eligibility and prove an actual decline in turnover. If you need some more detail download the following : "JobKeeper from 280920 - A Guide"
Below is a summary of whats inside this months newsletter.
Click here to read it in full -----> Your Knowledge Sept 2020pdf.pdf
Has Covid 19 devalued your business? If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business. But, to
what degree does the pandemic impact on value? Should you discount or hold firm to pre COVID-19 performance on the basis that ‘we’re going to come out of it eventually’?
Jobkeeper Alert - With the employee test date for JobKeeper moved to 1 July 2020, some additional employees might have become eligible for JobKeeper.
Tax on Covid 19 grants - Income tax Grants are likely to be taxable unless they are specifically excluded from tax.
Forecasting during a pandemic - Now, more than ever, business operators should
have a plan in place to manage during uncertain times. Even if your business is not directly impacted, it’s likely your customers, your supply chain, and your workforce will be to some extent.
What now?
Where to get help if needed for Business's & Individuals during this pandamic.
This months 'Your Knowledge' newletter includes topics on:
Jobkeeper 2.0
Cashflow boost payments
Support for business employing apprenctices and trainees
Coronavirus supplement
Early access to superannuation
Tenant rent relief
Minimum pension payments
& much more useful topics - click here to read on Your Knowledge Aug 2020.pdf
This months Your Knowledge newsletter included interesting topics on:
1. Funding for the arts: whats available and how can you get it?
2. The ATO on Covid-19 Fraud Warpath: tip lines, tax returns and STP 3 Million individuals in data matching program
3. Jobkeeper & termination payments
4. Minimum wage increases by 1.75%
5. The new flexible parental leave pay rules
Click here to view Newsletter Your Knowledge July 2020.pdf
Inside this months Your Knowledge newsletter are a few interesting topics about what is going on around you right now....
Are you a casual employee or are you receiving Job Keeper? if so keep reading as this might apply to you:
The topics include:
1. Have casual workers been granted annual leave?
2. The ATO Job keeper impact on employee entitlement, The ATO jobkeepers targets & managing your job keeper compliance
3. As of July the Company tax rate will be reduced
If you want to read more click here Your Knowledge June 20.pdf
Download the Guide below and use it as a quick reference to the COVID-19 related tax and financial support that might be available to you. The Government has flagged that more support is coming and we will keep you updated of changes that are likely to impact on you.
The stimulus and support packages help, but there are gaps and they will not return most adversely impact businesses or people back to their pre-pandemic position. It will all take time.
While there are many incentives most are not immediate - so hang in there!
Download the guide now: COVID 19 Stimulus & Support Measures Guide
Yesterday, the Government announced the $130 billion JobKeeper payment. The subsidy of $1,500 per fortnight per employee, administered by the ATO, will be paid to businesses that have experienced a downturn of more than 30%. The subsidy is paid in full to the employee. The payments are made by the ATO in arrears to the employer - payments start in May. Please refer and download the latest $1,500 JobKeeper Subsidy factsheet.
The Government yesterday (22 March 2020) released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws.
For more on this download the following factsheet: Stimulus Package 2.pdf
Empty restaurants and retail stores were one of the first signs of the devastating impact the coronavirus on Australian business. Within a few months, the virus, now called COVID-19, has gone from being a largely unknown medical condition to one that threatens to impair Australian and global economic growth. We explore the impact on business and the importance of planning for setbacks beyond your control.
Whether it is the coronavirus, fire or flood, the fact is if you are in business long enough you will almost certainly have to deal with an external impact on your business – bushfires, drought, GFC, SARS, 9/11, we’ve seen a few.
The key is to react but not overreact.
Business Continuity planning is essential & protecting your workplace and customers. Click here to read this months Newsletter Your Knowledge March 2020 .pdf to find out more important information to protect your business.
CGT & the family home: expats and foreigners excluded from tax exemption!
Late last year, legislative changes were made that exclude non-residents from accessing the main residence exemption.
The retrospective changes directly impact foreigners and expats whose main residence is in Australia or overseas. We explore the impact here Your Knowledge Feb 2020 pdf.pdf.
Also in this months newsletter we find out more about:
Bushfire support and assistance,
Alerts to protect SMSFS from Fraud &
ATO targets 'lifestyle' assets
Click here to read in full Your Knowledge Feb 2020 pdf.pdf
Below is a summary of whats inside this months newsletter.
Click here to read it in full -----> Dec 19 - Your Knowledge.pdf
1. Australia embraces Black Friday and cyber Monday!
The Black Friday and Cyber Monday sale concepts have well and truly arrived in Australia with retailers embracing this latest retail event to stimulate what has been an economically lack lustre year.
2. 5 things that will make or break your bussiness this christmas!
Terms of Business
This document together with a Terms of Engagement (ToE) letter and, where applicable, any Authority to Proceed (ATP) letter, forms the agreement between Joseph Solano Tax Accountants and clients. It may seem very much "over the top stuff" but these documents sets out the extent of the work that needs to be done, the way that work will be organised and the fees ultimately that will be charged. The full text of the Terms of Business is found in "Client Information" section or contact us and we can e-mail you a full copy.