Uncategorized

25 May NO THRESHOLD & MANDATORY SUPERANNUTION GOES UP INCREASE TO 10.5% OF ORDINARY EARNINGS

Posted at 15:11h in Uncategorized

Mandatory superannuation – called Superannuation Guarantee (SG) - is well established in Australia. It is calculated by employers based on an employee’s (or in certain circumstances, a contractor’s) ordinary earnings, and paid regularly by the employer to the employee’s superannuation fund. From 1 July 2022, two important...

22 Jul COVID 19 Government payments for NSW

Posted at 13:20h in Uncategorized

SUPPORT FOR BUSINESSES There are three business assistance programs being made available, and while some are jointly funded by the Commonwealth, all are administered by the NSW Government, and NOT by the ATO. The three programs are: Once off payment of up to $15k “Saving jobs” payment...

22 Jun Self Managed Super Funds last call to make contributions before 30 June!

Posted at 12:37h in Uncategorized

A tax deduction is available for superannuation contributions up to the “concessional cap” – which is $25,000 for the 2021 tax year. The ATO only regards payments as being “made” when they are received by your superannuation fund, and NOT when they leave your bank account. Payments...

22 Jun Superannuation Guarantee will increase to 10% from 1 July 2021

Posted at 12:23h in Uncategorized

Mandatory superannuation – called Superannuation Guarantee - is well established in Australia. It is calculated by employers based on an employee’s (or in certain circumstances, a contractor’s) ordinary earnings, and paid regularly by the employer to the employee’s superannuation fund. Currently superannuation guarantee is calculated at 9.5%...

22 Jun STP General Concession for Small Employers expires 30 June 2021

Posted at 12:11h in Uncategorized

Single Touch Payroll is an ATO initiative to capture detailed payroll data in almost real time. It became mandatory in the 2019/20 financial year for MOST employers. It was introduced to assist the ATO monitor whether the correct amount of tax was being withheld from employees,...

07 May Four ineligible work-from-home claims

Posted at 16:09h in Uncategorized

The ATO on Thursday urged all taxpayers to be aware that, while the temporary shortcut method will remain available to those claiming work-from-home deductions this year, personal and occupancy expenses, among others, cannot be claimed through any method. If you are working from home, you can't...

29 Apr JobKeeper audits and reviews ARE Covered by Audit Shield

Posted at 17:32h in Uncategorized

Audits in respect of any government benefits or entitlements have always been an exclusion in most Tax Audit Insurance policies, and certainly has been in Audit Shield. The logic behind this is that a Tax Audit insurance policy covers Tax Audits in respect of validating,...

29 Apr BRIDGING FUNDING FOR JOBKEEPER

Posted at 17:15h in Uncategorized

Senator the Hon Michaelia Cash has released the following update to assist Small Businesses and Households impacted by COVID-19 Bridging Funding for JobKeeper Australian banks are playing a vitally important role in bridging the finance that businesses need to pay their staff ahead of receiving the first...

24 Apr Interactive Business Stimulus Portal

Posted at 11:13h in Uncategorized

We have created a interactive Stimulus Portal to determine what programs you or your business qualifies for. Please Share with anyone you care about!!! https://stimuluspackagegrants.com.au/JCABrehmer...

26 Mar Government Stimulus Package

Posted at 15:30h in Business, Business, Uncategorized

We are indeed in unprecedented times, and the Government has reacted swiftly with two stimulus packages. Together they are intended to Quickly provide additional cash flow to small and medium businesses who employ people, Assist employees and sole traders with social safety net support if they...