05 May 2020 - Call to Action: JobKeeper Payments for Eligible Employees and Eligible Business Participants (Sole Traders / Directors / Shareholders / Partners)
THIS WEEKS CALL TO ACTION
A check list of steps you should be taking for JobKeeper payments. CLICK HERE to read more.
28 April 2020 - Call to Action: JobKeeper Payments for Eligible Employees
The ATO have provided an extension to pay your eligible employees for the first two JobKeeper fortnights (30 March - 12 April, 13 April - 26 April). The ATO will provide the JobKeeper payments for these fortnights providing eligible employees receive their pay by 8 May 2020. If you have already completed the payments for these fortnights then nothing else will be required.
Please note this only applied to eligible employees and doesn't apply to sole traders or eligible business participants.
Please refer to our previous Client Bulletins below for further information.
27 April 2020 - NSW Small Business COVID-19 Support Grant - $10,000
If your small business or non-profit organisation has experienced a 75% decline in revenue as a result of COVID-19, you may be eligible for the small business support grant of up to $10,000. This grant supports the ongoing operations of small businesses highly impacted from the COVID-19 pandemic following the NSW Public Health Order of 31 March 2020. For small businesses that are not on the list of highly impacted industries under the Order, a letter from an accountant confirming the decline in turnover will be required. CLICK HERE to read more.
24 April 2020 - JobKeeper - Payroll Reporting
Reporting through Single Touch Payroll Instructions
If you are an eligible employer for the JobKeeper system AND lodging your payrolls via Single Touch Payroll then there are steps that you are required to take to notify the ATO of the eligible employees via STP.
NOTReporting through Single Touch Payroll Instructions
Each month, you must reconfirm the eligibility of your business and your reported eligible employees.
20 April 2020 - JobKeeper - 'Call to Action' & Eligible Sole Traders or Business Owners / Directors / Beneficiaries
Have you taken the necessary steps to receive the JobKeeper COVID-19 Government Stimulus assistance?
Sole traders and some other business participants (such as partners, beneficiaries of business trusts or company directors and shareholders) may be entitled to the JobKeeper Payment scheme under the business participation entitlement (not-for-profit organisations are not included). CLICK HERE to read more.
15 April 2020 - JobKeeper ATO Guidance Released
Eligible entities will be able to enrol in the JobKeeper scheme from 20 April 2020 - an online form will be made available via the business portal. Businesses will need to have enrolled for JobKeeper by 26 April to be eligible to receive the reimbursement for the first 2 fortnightly periods in April. After enrolment you will need to identify specific eligible employees and submit these details to the ATO within 7 days. CLICK HERE to read more.
09 April 2020 - COVID-19 Update: JobKeeper – Payroll Processing Information / Commercial Tenancies / Working From Home
The JobKeeper scheme was confirmed as law by parliament yesterday, 8th April 2020. The scheme will commence from 30/03/2020 and will be in place for a minimum of six months. In order to receive the JobKeeper payments eligible employers need to continue to pay eligible employees, the first fortnightly period being 30/3/2020 – 12/4/2020. he ATO have indicated that the easiest way to get access to the reimbursement is via payrolls lodged via Single Touch Payroll. CLICK HERE to read more.
06 April 2020 - JobKeeper Payment Scheme – Clarification and FAQ Released
The Australian Government Treasury have release additional information regarding the proposed JobKeeper scheme. If you have questions about the scheme we encourage you to review this document. CLICK HERE to read more.
02 April 2020 - ATO issues integrity warning to employers over $20,000 - $100,000 PAYG withholding cash flow boost
The new legislation in regards to the PAYG withholding cash flow boost was introduced into law with an integrity rule. An entity not being entitled to any amount of the cash flow boost who manipulates their affairs and records with the sole or dominant purpose of gaining access to the measure (or increasing the amount to be received under the measure) may fall foul of the rule. CLICK HERE to read more.
02 April 2020 - COVID-19 and Your Super
In recent weeks the Government has made a number of announcements in relation to superannuation in response to the COVID-19 impact on Australians. CLICK HERE to read more.
01 April 2020 - JobKeeper Payment: Additional Information Released from Treasury
Additional information has been released overnight in relation to the JobKeeper program.
To read more about eligibility and the payment process CLICK HERE to read more.
31 March 2020 - JobKeeper Payment - Information for Employers and Self-Employed
On 30 March 2020 the Federal Government revealed a AUD130 billion package with a new JobKeeper payment – a wage subsidy to keep Australian’s in work. Under the JobKeeper Payment, businesses impacted by COVID-19 will be able to access a subsidy from the Government to continue paying their employees. Affected employers will be able to claim a fortnightly payment of AUD1,500 per eligible employee from 30 March 2020, for a maximum period of 6 months. The first payment will be received by employers from the ATO in the first week of May. CLICK HERE to read more.
30 March 2020 - Update: COVID-19 Tax Relief and Stimulus
Important update on Federal Government Stimulus and State taxes. CLICK HERE to read more.
26 March 2020 - COVID-19 & Financial Hardship - What your bank can do to help.
The world as we know it has changed dramatically in the last few weeks and we are here to help you navigate these challenges. In an effort to do this, we want to provide you with some information regarding the response of the banking sector to the COVID-19 crisis and some of the options that are available to you. CLICK HERE to read more.
24 March 2020 - Update: Additional Information Regarding Government Stimulus Package
A second stimulus package has been announced that improves the cashflow assistance that has been previously announced. Eligible employers will be entitled to up to AUD100,000 of benefits. There are also State Government incentives, particularly regarding Payroll Tax. Each State is offering different benefits and we are keeping abreast of them for you. CLICK HERE to read more.
18 March 2020 - Stimulus relief in response to COVID-19
The outbreak of coronavirus (COVID-19) has presented a rapidly evolving challenge that not only has a significant health impact on society but a potentially considerable economic consequence. In response to this, on 12 March 2020, the Federal Government announced a comprehensive stimulus package of AUD17.6 billion to protect the Australian community by ‘maintaining confidence, supporting investments and keeping people in jobs’. From a tax perspective, this includes significant concessions for capital investment in the form of tax write-offs for depreciable assets, as well as cash flow assistance to small and medium-sized businesses. CLICK HERE to read more.
Fringe Benefits Tax (FBT) - Year Ending 31 March 2020
The end of financial year can be a busy time, with the budget announcement in early May as well as planning for 30 June. For a breakdown of several key budget changes that may affect you, as well as some key tax planning strategies
After months of uncertainty, consultations and amendments, the superannuation reforms announced in the 2016 Budget have finally received Royal Assent, and therefore will take effect from 1 July 2017. The most significant change comes to your ability to contribute up to $540K before 30 June 2017 if you are under 65. Therefore, we recommend you click on the link below for more details on the reforms and how they may affect you.
To LEARN MORE about the Important Changes to Superannuation Rules & the latest Superannuation Windows of Opportunity that expire on 30 June 2017, we will be holding Superannuation Sessions in early February 2017.
Post US Election Webinar
For those of you who missed Crispin & Jeffery's first webinar session, an informative and interesting discussion on market and investment outlooks post the US election, click on the video link below!
There are significant legislative reforms which took effect from 1 July 2016, and impact on our ability to advise you with regard to your SMSF. If you have ever started a pension, made contributions or rolled funds into your SMSF these changes affect you, and the way we are able to work with you in the future.
For more information on the changes to the legislation and how we are able to advise you in future, please click on the link below:
Crispin & Jeffery is committed to providing you with a holistic service that caters for all your financial needs.
To learn more about the outstanding wealth management division of the firm, C&J Financial Services, and the full complement of services offered by Crispin & Jeffery have a read of our latest newsletter by clicking on the link below:
The Australian Federal Budget 2016 was released and we at Crispin & Jeffery have brought you the key points that matter to you as businesses and individuals. Click on the link below for a detailed outline of the proposed budget measures.
If you would like to take up our offer of a Super / SMSF review, please email us or call to book an appointment on 02 9908 4744.
Contribute to super before 30 June 2016!
Superannuation Contributions Strategies
30th June is closer than you think, and now is a great time to start thinking about how you can make the most of your super to help with your retirement goals. With noise and talk on possible changes to super in the upcoming May budget, we'd like to highlight key SUPER STRATEGIES for your consideration.
1. Contributions to Super: For more information, please read the article:
2. Transition to Retirement Pension: Once you hit preservation age (55 for many people), you can draw a pension from your super even if you are still working. For more information, please read the article:
UNDERSTANDING YOUR SUPER SITUATION!
If you would like to learn more about how these super strategies may be applicable to you or to understand more about the proposed Budget 'super' changes, please CALL US on 02 9908 4744 or EMAIL US: firstname.lastname@example.org
We are offering a COMPLIMENTARY REVIEW of your SUPER including a review of a SELF MANAGED SUPER FUND (SMSF) you may own. To book your COMPLIMENTARY meeting, please CLICK on the button below:
Given the state of the market, what could you be doing to protect your wealth?
In the month of April 2018, we are offering a complimentary financial health check meeting to discuss your current personal and financial situation and goals with our experienced C&J Financial Services advisers.
The ATO has announced they will be cracking down on FBT this year. What this means for small business is:
An increase in FBT spot audits; and
A requirement to lodge FBT returns of all entities providing benefits to employees (and directors) even if an employee contribution is paid to eliminate.
The CHECKLISTand WORKSHEETSoffer a detailed overview of FBT requirements and show you what you need to be aware of in assessing your company's tax obligations. If you have any concerns regarding your FBT obligations, contact Crispin & Jeffery to discuss on 02 9908 4744.
With some of our clients expressing concerns about the current fragile share market conditions, we felt this was an important topic to examine in our first issue.
With all investors currently experiencing the turbulent market conditions, we'd like to provide some context, offer a better understanding of current market movements, and give you some tips on how to remain a confident investor.
Take a look at an article written by the Chief Investment Officer of our financial services partner Primestock Securities Ltd (Prime), Jonathan Bayes, for some valuable insights.
A SMA is a new and cost effective way of investing. Our wealth partner, Prime recently released a video explaining what a SMA is, how it works, and the benefits of investing with a SMA.
To LEARN MORE about SMAs please WATCH a short video from Mark Johnson, Chairman of our Investment Committee.
What are 3 Tier Ongoing Investment Models?
We recognise that not all wealth clients would like to receive 'Full Advice' on their investment portfolios. The 3 Tier service solution offer alternatives for clients who would prefer to 'Collaborate' on parts of their portfolio, as well as those who would prefer to be substantially 'Self-Directed'.