Victorian Government Business Resilience Package

The Victorian Government is providing a further $3 billion to support businesses impacted by COVID-19 restrictions. Business Support • The third round of the Business Support Fund provides grants of $10,000, $15,000 or $20,000 to eligible businesses depending on payroll size. To be eligible your business must operate in an industry sector contained on the list of eligible…

JobKeeper 2.0 Update

JobKeeper 2.0 has officially been passed and will operate from 28 September 2020 until 28 March 2021. There are two separate periods and eligibility needs to be tested for each period. The extension periods are as follows: •    Extension 1 – 28 September 2020 to 3 January 2021 •    Extension 2 – 4 January 2021 to…

How to apply for early access to your superannuation

Marketing and Communications Manager - West Carr & Harvey

As a result of the impact of COVID-19, eligible individuals are now able to access some of their superannuation in order to assist with economic hardship. To apply for an early release of superannuation, the original cut-off date was Thursday 24 September 2020. This has now been extended to Thursday 31 December 2020. The application…

Time Theft | How to fix a common money leak

How efficient software changes can prevent time theft. Over the last few years, a handful of high-profile cases have put the spotlight on underpayment of workers, particularly in retail, agriculture and hospitality. Rightly so, compliance is utterly important and employee underpayment is a problematic issue. But it’s also important to understand that wage theft is…

How the tax man can help your business purchase new equipment

Marketing Manager - Sinclair Wilson

The end of the financial year is nigh! And as it approaches, so does the window to purchase new equipment or update a vehicle for your business. Last year, the Federal Government introduced legislation that extended and boosted its small business instant asset tax write-off. This means that if your business is eligible (speak to us…

Single Touch Payroll – are you ready to go?

Marketing Manager - Sinclair Wilson

Single Touch Payroll (STP) is a new way of reporting Tax and Super information to the Australian Tax Office. From 1 July 2019, all Australian businesses must, by law, process employees’ pay, tax and super information via an online payroll system that is STP-compliant. It’s being referred to as, ‘real-time payroll reporting’ – because it means the ATO will be capturing real-time…

Single Touch Payroll – Mandatory for all employers from 1 July 2019

Director

Single Touch Payroll (STP) changes the way employers report their employees’ payroll and superannuation information to the Australian Tax Office (ATO). Using payroll or accounting software that offers STP, employers will be required to send their employees’ wage and super information to the ATO each time they run their payroll and pay their employees. (Be…

Mackenzie+Co – Why Young People Need Accountants

Director

Many people think that accountants aren’t relevant for young people, but at Mackenzie+Co we can help you with many different things. Accountants do a lot more than just lodge tax returns; it’s about planning for your future and helping you take the next step. Many years ago my dad, Ross Mackenzie, suggested I get income…