Blog

COVID-19 and working from home benefits

COVID-19 and working from home benefits

COVID-19 and working from home benefits This information is to assist understanding your FBT obligations where employees are provided with benefits to support working from home arrangements during the COVID-19 pandemic. Key points Your fringe benefits tax (FBT)...

ATO sounds alert over new ‘alarming’ TFN scam 

ATO sounds alert over new ‘alarming’ TFN scam 

ATO sounds alert over new ‘alarming’ TFN scam  The Tax Office has issued a warning over a new tax file number scam that has seen nearly $120,000 being lost to fraudsters. The new scam involves a robo-call impersonating the ATO with a pre-recorded message informing a...

Free webinars – running your home-based business

Free webinars – running your home-based business

Free Webinars from the ATO to Help Run your Home-Based Business  When you are running your business from home, expenses such as for electricity, gas and office furniture, can have a serious impact on your bottom line. Learn to calculate the amounts you can claim on...

Savings 2021!

Savings 2021!

Savings 2021 2020 was a year anyone could never have predicted. Never before has the concept of having an emergency fund been more meaningful to cover loss of jobs and income, and many people having to withdraw Super in order to stay afloat. Savings in years to come...

Fresh Changes For the New Year

Fresh Changes For the New Year

Fresh Changes For the New Year Happy New Year! We hope that 2021 brings growth and prosperity for you and your businesses. The Simple Solutions Accounting Services team and services are growing and changing too. For us, this involves a re-jig to our business structure...

Want to save money on your business energy bills?

Want to save money on your business energy bills?

Want to save money on your business energy bills? Do you have trouble understanding the ins and outs of your energy bills? Are you getting the best deal from your provider? Should you put a low-cost energy solution in place or invest in something bigger? The Business...

80¢ per hour work-from-home deduction method extended

80¢ per hour work-from-home deduction method extended

80¢ per hour work-from-home deduction method extended Taxpayers continuing to work from home in the new year will be allowed to continue using the simplified working-from-home deduction method following a third extension by the ATO. The 80¢ per hour shortcut method,...

We are commencing a partnership with Audit Shield

We are commencing a partnership with Audit Shield

As always, we are committed to enhancing our services for you and increasing the #clientlove! We’re excited to launch a number of projects and offerings in the new year to improve your client experience with us and further support you and your businesses. First cab...

Simple Solutions Accounting Services is taking a break…

Simple Solutions Accounting Services is taking a break…

We're taking a break Simple Solutions Accounting Services are taking a break  ⛱ We will be closed from Saturday 19 December and reopening Monday 11 January to get BAS and Super lodgements underway. Jobkeeper testing for January to March 2021 appointments are available...

Webinars to help you run your business from home

Webinars to help you run your business from home

Webinars to help you run your business from home Running a small business from home can be daunting and you might feel you have a lot to learn. You may want to know more about which expenses you can claim in your tax return, how to calculate the amounts you claim, or...

Vinnies CEO Sleepout

Vinnies CEO Sleepout

Vinnies CEO Sleepout fundraiser for homeless people and families At this time of the year - when everyone is thinking about holidays, family and and in the spirit of giving - if you would like to make a difference - I am fundraising towards the Vinnies CEO sleepout,...

Xero Price Change

Xero Price Change

Xero Price Change As you may remember, Xero delayed a price change that was due to take place in Australia in March 2020 to help the small business community impacted by COVID-19. This delay remains in place until early next year and Xero’s price change will instead...

Super Clearing House End of Year Key Dates

Super Clearing House End of Year Key Dates

Super clearing house end of year key dates Processing cut off dates for the Small Business Superannuation Clearing House are coming up as ATO approach their annual office closure. Key dates to be aware of are: 14 December 2020 - all Super guarantee (SG) payments made...

Recent Law Amendments Extend Super Choice

Recent Law Amendments Extend Super Choice

Recent law amendments extend super choice Recent amendments to the law will give more Australians the opportunity to choose their own superannuation fund — preventing them from being locked into a specific super fund under the terms of an enterprise bargaining...

Dogtober & why we support Assistance Dogs Australia

Dogtober & why we support Assistance Dogs Australia

Why we support Assistance Dogs Australia “Mum, I can do anything with this dog by my side!’ It was these words, spoken by a young girl in a wheelchair in the USA over 20 years that forever changed the life of Hannie and Robert Biggs OAM, and of countless families...

Road to Recovery? Budget 2020-21 Update

Road to Recovery? Budget 2020-21 Update

Road to Recovery? Budget 2020-21 Update The 2020-21 Federal Budget is a road to recovery paved with cash. Key initiatives include: • Personal income tax cuts from 1 July 2020 • A $4 billion ‘JobMaker’ Hiring Credit to encourage businesses to take on additional...

JobKeeper from 28 September 2020

JobKeeper from 28 September 2020

JobKeeper from 28 September 2020 The first tranche of JobKeeper ended on 27 September 2020. Those needing further support will need to reassess their eligibility and prove an actual decline in turnover. To receive JobKeeper from 28 September 2020, eligible employers...

JobKeeper: The next steps

JobKeeper: The next steps

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. Wrapping up JobKeeper If your business is no longer eligible...

Legislative instruments on JobKeeper extension

Legislative instruments on JobKeeper extension

Legislative instruments on JobKeeper extension Both the Treasurer and ATO Commissioner have registered a number of new legislative instruments on the extension of the JobKeeper payments scheme, with detail on: Codification of the JobKeeper extension through to 28...

Commissioner registers updated JobKeeper alternative tests

Commissioner registers updated JobKeeper alternative tests

The Commissioner of Taxation has now released the updated alternative decline in turnover tests for the JobKeeper extension. The Coronavirus Economic Response Package (Payments and Benefits) Alternative Decline in Turnover Test Rules (No. 2) 2020 legislative...

JobKeeper 2.0 – determining actual decline in turnover

JobKeeper 2.0 – determining actual decline in turnover

Determining Actual Decline in Turnover under JobKeeper 2.0 The ATO has registered an additional Legislative Instrument on 16 September 2020 containing important information relating to the new actual decline in turnover test in the form of Coronavirus Economic...

JobKeeper 2.0 rules released

JobKeeper 2.0 rules released

JobKeeper 2.0 rules released Treasurer Josh Frydenberg has now registered the new rules governing the extension of the JobKeeper payments, with ATO guidance set to follow. The Coronavirus Economic Response Package (Payments and Benefits) Amendment Rules (No. 8)...

Your Xero Starter Plan just got better!

Your Xero Starter Plan just got better!

To give you greater flexibility when you need it most, there are some exciting changes to your Xero Starter plan: No limits on bank reconciliations (previously limited to 20) So you can keep a really close eye on money coming in and going out. If you haven't already,...

Are Your ABN Details Up To Date?

Are Your ABN Details Up To Date?

It's really important to keep your Australian business number (ABN) details up to date but it's also something that is easy to forget while you are focused on all of the other aspects of running your business every day. Some important reasons to ensure you keep your...

JobKeeper Updates

JobKeeper Updates

JobKeeper Updates - Help for Business & Individuals For Business The Government has announced further changes to the JobKeeper scheme. The good news is that employees that missed out on JobKeeper because they were not employed on 1 March 2020 might now be...

COVID-19 and your SMSF

COVID-19 and your SMSF

COVID-19 has had an impact on many SMSFs. We look at the key issues. Early release of superannuation When a member of your fund wants to access up to $10,000 of their superannuation early under the COVID-19 measures, there are some additional steps that trustees need...

Businesses now able to claim JobKeeper for new employees

Businesses now able to claim JobKeeper for new employees

Businesses now able to claim JobKeeper for new employees A legislative instrument was registered on 14 August 2020 amending the JobKeeper rules to allow businesses to claim the subsidy in respect of new employees. The changes apply to JobKeeper fortnights beginning on...

JobKeeper Changes

JobKeeper Changes

JobKeeper Changes Once again, the Government has moved the goal posts when it comes to eligibility for the JobKeeper Scheme. Read on for a summary prepared by the NTAA relating to the key changes announced yesterday with respect to JobKeeper 3.0. On 21 July 2020, the...

Superannuation Guarantee Amnesty

Superannuation Guarantee Amnesty

A super guarantee amnesty was introduced on 6 March 2020. Employers participating in the amnesty need to apply by 7 September 2020. If you're affected by economic changes due to COVID-19, the ATO can help. The ATO understand that you may wish to apply for the super...

JobKeeper 2.0 – Everything you need to know

JobKeeper 2.0 – Everything you need to know

JobKeeper 2.0 The second tranche of the JobKeeper scheme changes the eligibility test for employers and the method and amount paid to employees. If your business currently receives JobKeeper, your arrangements will generally remain unchanged until 27 September 2020....

***Newsflash*** JobKeeper 2.0 payments, Eligibility Revealed

***Newsflash*** JobKeeper 2.0 payments, Eligibility Revealed

JobKeeper payments will drop to between $750 and $1,200 per fortnight beyond September, with eligibility tightened, the government has revealed. Prime Minister Scott Morrison and Treasurer Josh Frydenberg have announced that the current $1,500 per fortnight JobKeeper...

JobKeeper and Termination Payments

JobKeeper and Termination Payments

An employment termination payment (ETP) is a lump sum payment made to an employee when their job is terminated. ETPs are generally made up of unused sick leave or unused rostered days off, payment in lieu of leave, or genuine redundancy payments, etc. For some...

Minimum Wage Increases by 1.75%

Minimum Wage Increases by 1.75%

An increase to the minimum wage of 1.75% will start rolling out for the first full pay period from 1 July 2020. The increase applies to minimum rates in awards in 3 stages: Group 1 Awards - from 1 July 2020 Frontline Heath Care & Social Assistance Workers Teachers...

The ATO on COVID-19 Fraud Warpath

The ATO on COVID-19 Fraud Warpath

We always knew that a Government scheme swiftly distributing cash during a crisis was going to come with equally swift compliance and review measures, particularly when eligibility was self-assessed. Two major Australian Taxation Office (ATO) initiatives are searching...

Financial Toolbox – a Tax Deduction with Meaning

Financial Toolbox – a Tax Deduction with Meaning

I am privileged to be on the Financial Toolbox Not for Profit board which aims to build financial knowledge and skills of Western Australian women to give them independence and freedom of choice throughout their lives. We have a Woman at Risk Trust which has been...

Claim a deduction for super contributions

Claim a deduction for super contributions

Super payments are only considered to be paid for the purpose of claiming a tax deduction once they have been received by the super fund, not the date the Small Business Superannuation Clearing House (SBSCH) accepts them. Ensure you can claim a deduction for the...

New Xero Product Tools

New Xero Product Tools

Xero customers are looking for tools to help manage their business during these challenging times and Xero has responded with three new features* to help you explore: Short-term cash flow projection of your bank balance over the next 30 days. A business snapshot...

Snapshot – The Jobkeeper Payment

Snapshot – The Jobkeeper Payment

The JobKeeper payment is a subsidy of $1,500 per fortnight per eligible employee paid in arrears to the employer by the ATO. It’s for businesses that have suffered a detrimental decline in business because of COVID-19 to help keep their staff employed. To receive the...

Getting ready for Jobkeeper payments and using the Business portal

Getting ready for Jobkeeper payments and using the Business portal

If you're an eligible business applying for Jobkeeper payments, you will have the option to apply yourself through the Business Portal, or using your tax professional. If you need help please get in touch with us. Accessing the Business Portal To access the Business...

Jobkeeper Payments – Questions, Answers and Advice

Jobkeeper Payments – Questions, Answers and Advice

On 8 April 2020, the Federal Government passed a package of Bills through both Houses of Parliament (which received Royal Assent on 9 April 2020) to give effect to (amongst other things) the JobKeeper Scheme. Subsequent to this, a Legislative Instrument was released...

Covid-19 Stimulus & Support Measures ~ updated 9 April 2020

Covid-19 Stimulus & Support Measures ~ updated 9 April 2020

Covid-19 Stimulus & Support Measures - What you can access and how. Updated 9 April 2020 with Jobkeeper legislation. Click here to view the e-book online and download a PDF of it. (close the ad at the bottom of the e-book by clicking the "x" on the top right...

Working from home during COVID-19

Working from home during COVID-19

Working from home? Here's what you can claim for tax. Hopefully you are in a fortunate position and are able to work from home in the current landscape. Don’t forget that you will be able to claim a deduction for expenses that relate to work. These include home office...

Coronavirus Stimulus Package

Coronavirus Stimulus Package

Parliament has now passed the stimulus packages. There is a 3rd stimulus package before parliament – but its likely this will be specific for the tenancy Act. We will keep you posted. What does this mean to you, your family and business? I have copied the attached...

Simple Solutions Accounting Services Business Continuity Plan

Simple Solutions Accounting Services Business Continuity Plan

In light of the current situation around the Coronavirus and the uncertainty we are all facing day to day, we felt it important to assure you that we expect no major interruptions to the services that we provide to you. OUR CLOUD SYSTEMS MEAN YOU CAN ALWAYS CONTACT US...

Enhanced Square and Xero integration is here!

Enhanced Square and Xero integration is here!

Square, Xero enhance integration and point-of-sale features Want to connect your Square and Xero accounts in minutes? Introducing... The enhanced Square and Xero integration in Australia, which means you can now reconcile your Square payments easily within Xero. If...

How to Manage your Variable Income – Free Webinar

How to Manage your Variable Income – Free Webinar

Free Webinar - 7pm Tuesday 18 February 2020 How to Manage your Variable Income With temptation all around it's hard for most people to spend within their means, let alone when your income fluctuates as it does for small business owners. This leads many business owners...

AUSKey retirement in March – Reminder

AUSKey retirement in March – Reminder

The ATO is developing new online services to replace AUSKey as it hasn’t kept up with modern technology. MyGovID and Relationship Authorisation Manager (RAM) will be replacing AUSKey which is due to retire in March 2020. The ATO advises that in preparation for the...

Stay Safe Online

Stay Safe Online

Keep safe online during tax time with these helpful tips: Use multi-factor authentication where possible and don’t share your password with anyone. Using SMS codes as your sign-in option for myGov is a quick and secure way to sign-in to access online services....