New Tax Tables for MYOB AccountRight Users – Now Available
Further to our article posted on 26.10.2020, and in line with the recent changes to personal income tax thresholds, the new tax tables for MYOB AccountRight users are now available. The steps to download the updated tax tables will depend upon which version you have: ARL 2020.3 – If you’re working online in the latest […]
Updated PAYG Withholding Tables – Employer Deadline
The recent 2021 Federal Budget announced various incentives designed to ease the burden of COVID 19 for businesses and individuals; you can read our budget re-cap here. One of the major announcements that effects businesses and employees alike is the introduction of tax cuts for employees, which will see most people pocket more of their […]
So What Happened in the Recent Budget?
In Tuesday night’s budget, the Government announced several stimulus measures to help the economy recover from the COVID 19 recession, these measures include: Tax Cuts Stage 2 of the personal income tax plan that was first announced in last year’s budget has been fast tracked (these changes were originally due to start in the 2022-23 […]
UPDATED – JobKeeper 2.0 Is Here
As the Rules for JobKeeper continue to evolve, we have updated our previous article posted earlier this month. From the 27th of September, the government will initiate significant changes to the JobKeeper scheme. Nicknamed “JobKeeper 2.0”, you will need to requalify, and new payment rates will be introduced. The JobKeeper payments will be extended until […]
JobKeeper 2.0 Is Here
From the 27th of September, the government will initiate significant changes to the current JobKeeper payments that eligible employers have been receiving for the past five months. Nicknamed “JobKeeper 2.0”, the payments will be tested against different eligibility criteria and new payment rates will be introduced. In a nutshell, the changes will include: The qualification […]
Important JobKeeper Update for Employers – Introduction of the 1 July Employment Test
What has changed? On the 14th of August the Government expanded JobKeeper eligibility which may now enable previously ineligible employees to qualify for the JobKeeper scheme. An additional ‘1 July 2020 employment test’ has been introduced that, if satisfied, will enable previously ineligible employees to receive JobKeeper payments from fortnights commencing 3rd August. To qualify, […]
$150K Instant Asset Write-off Extended
The Government made changes to the $150k instant asset write-off scheme that could see more businesses able take advantage of this perk. On the 9th of June 2020, the Government stated they will be extending the scheme for another six months until the 31st of December 2020. So, who is eligible to take advantage of […]
Your Business could be Eligible for Funding from the NSW Government
On the 16th of June 2020, the NSW Government introduced a Small Business Recovery Grant to assist business owners with the gradual lifting of social distancing restrictions. The grant will allow applicants to receive between $500 and $3,000 in funding to assist with the costs of re-opening a small business after the COVID-19 mandatory closures. […]
Attention Employers! End of Year Payroll Processes
With the end of the financial year around the corner, it’s time for employers to begin preparing their end of financial year employee payroll details. End of financial year process has become much easier with Single Touch Payroll (STP), as STP sends your payroll information to the ATO in ‘real-time’ each time your payroll is […]
HomeBuilder Scheme
The HomeBuilder Scheme is a $25,000 non-taxable grant for owner occupiers to build a new home or substantially renovate an existing home (unfortunately, this grant is not available for investment properties). It was established with the expectation to assist the residential construction market by encouraging the commencement of new home builds and renovations. Though there […]