Entries by surftax

What type of retirement planner are you?

CHOICE and Research team Fiftyfive5 have recently surveyed Australians on how they plan for their retirement. Their research will be used to develop a set of retirement income targets that will give people a better idea of how much they’ll need to save to meet their retirement needs. Their nationally representative research has already revealed […]

Have you tried Spotify Ads in your Business?

Spotify is a digital music, podcast, and video service that gives you access to millions of songs and other content from creators all over the world. Basic functions such as playing music are totally free, but you can also choose to upgrade to Spotify Premium.   Spotify also offers audio, video, and display ads on its music […]

Fixing a mistake on your BAS

Correcting a mistake made on an earlier BAS is different from making an adjustment. An error or mistake relates to an amount that was incorrect at the time of lodgment and an adjustment relates to a reported sale or purchase that was correct at the time of lodgment, but something occurred later that changed the […]

ATO Key Dates for October 2021

21 Oct 2021 September Monthly BAS due 28 Oct 2021 September Quarter SG due September Quarterly BAS due September Quarterly PAYG Installment due   If you are uncertain of dates specific to your business, please contact your STS Accountant.

“She’s On the Money” Podcast

Looking for a finance podcast that’s light and bright and has a few giggles? The She’s On the Money Podcast is the one-stop destination for millennials who want financial freedom (without skimping on brunch) says host Victoria Devine and it is all very upbeat! The aim of the podcast is to change your relationship with […]

What is a Self-Managed Super Fund?

In the last 20 years, superannuation has become an important part of the wealth creation and retirement planning objectives for all Australians. Self-managed super funds (SMSFs) are a way of saving for your retirement. The difference between an SMSF and other types of funds is that the members of an SMSF are usually also the […]

Fuel tax credit rates have increased

Fuel tax credit rates increased on 2 August 2021 in line with fuel excise indexation. You may need to use different rates for fuel acquired before and after 2 August. If you claim less than $10,000 in fuel tax credits per year, you can use simplified methods including: the rate that applies at the end of your […]

Be Aware of Tax Scams

With tax time upon us and COVID stresses ever-present, many people are proving to be vulnerable to scammers.  There are many different ways that scam artists can trick both individuals and small businesses, so we’re looking at the most common scams reported by the ATO and other organisations. August 2021 phone scam – new payment […]

Three Common Mistakes Made By New Business Owners

It’s an exciting time when you take the steps to start a new business. Often we can get carried away with the branding, advertising and selling, and forget about the key financial elements that will ensure the business stays successful. As our expert accountants are regularly meeting with new business owners, here are three of […]

NewAccess – Support for Small Business Owners from Beyond Blue

Whether you’re just feeling stressed, or completely overwhelmed about everyday life issues like work, relationships, health, or loneliness, NewAccess is there when you need it. The program uses Low-intensity Cognitive Behavioural Therapy (LiCBT) that allows participants to recognise the way they think, act, and feel and break unhelpful thoughts. Over six sessions, coaches with a small business background will work […]

Have you considered Audit Insurance?

STS Accounting Group has partnered with AuditCover to offer smarter tax audit protection. As a policyholder, you’ll benefit from comprehensive coverage and protection from professional fees incurred when responding to a tax investigation by the ATO or another authorised government agency. A tax audit can include a range of matters beyond just an actual audit […]

The Pineapple Project Season 2

The Pineapple Project is back for season 2 with a new host, comedian Nazeem Hussain. In this new season, Nazeem is looking at saving money by exploring ideas on how to spend less, how to spend better, and understanding why we all want to buy things in the first place. Topics include ways to save […]

The ATO’s New Super Comparison Tool

Have you tried the new Super comparison tool created by the ATO? It’s called YourSuper and displays a table of 80 MySuper products ranked by fees and net returns (updated quarterly). It allows you to select and compare in more detail up to four MySuper products at a time and provides links to help you consolidate your […]

Fringe Benefit Tax Exeptions on Retrained and Reskilled Employees

Employers who provide training or education to employees who are redundant, or soon to be made redundant, may be exempt from fringe benefit tax (FBT). Retraining and reskilling benefits are exempt from FBT where the: employer provides a benefit in respect of training or education to a redundant, or soon to be redundant, employee employer […]

Rent Concessions and Your Tax Return 20/21

Do you rent your business premises? Or are you a landlord who rents out a commercial property? For tenants & landlords If your landlord gave you a rent concession, or if you’re a landlord who has given a rent concession to a tenant because of COVID-19, you need to consider this in your tax returns. […]

COVID-19 Support Small Business Overview

As we emerge from Victoria’s fifth lockdown the Federal & State Governments have launched further financial support for a majority of small & medium businesses across Victoria. Whilst details are still to be released, the $400M package will be split across; a Small Business COVID Hardship Fund, a Business Continuity Fund, Licensed Hospitality Venue Fund, […]

COVID-19 Disaster Payment support for Individuals

You may be eligible for a payment if you were adversely affected by the recent lockdown. You’re eligible even if you meet the criteria for only one day during a payment period. If you’re a member of a couple, you can both claim this payment. You and your partner will need to make separate claims. To […]

What is Capital Gains Tax

If you sell a capital asset, such as real estate or shares, you usually make a capital gain or a capital loss. This is the difference between what it cost you to acquire the asset and what you receive when you dispose of it. You need to report capital gains and losses in your income […]

Good record keeping makes tax time easy

Tax time is not straight forward, however with a little planning and record-keeping you can ensure it is a hassle-free time of year. To claim a deduction for work-related expenses: – you must have spent the money yourself and weren’t reimbursed – it must be directly related to earning your income – you must have […]

Are you looking for workers?

As we chat to many diverse business owners across the region, we are hearing time and time again, that it is difficult to find workers. The Jobs Victoria online hub matches job seekers who are ready to work with employers seeking a local, job-ready workforce. Jobs Victoria can help to identify your business needs and […]