The Australia Taxation Office are providing temporary cash flow boosts to support small and medium businesses and not-for-profit organisations during the economic downturn associated with COVID-19. Eligible businesses and not-for-profit (NFP) organisations who employ staff will receive between $20,000 to $100,000 in cash flow boost amounts by lodging their activity statements up to the month […]
The Victorian Government has announced a new $534 million Business Support package to help businesses and workers during COVID19. These measures are primarily aimed at assisting those in Melbourne and Mitchell Shire, however, there are benefits available to regional Victoria. Business Support Fund Extension To support businesses impacted by these restrictions, one-off grants will […]
Understanding the requirements of reporting COVID-19 cases to WorkSafe is an important element in keeping your employees safe, and your workplace operating smoothly. Here’s what you should know: What is the change? On 28 July 2020, the Occupational Health and Safety (COVID-19 Incident Notification) Regulations 2020 commenced in Victoria and will apply for 12 months. New […]
Another month of COVID restriction gives us more time to improve our knowledge whilst being entertained. Make the most of your extra downtime with these top recommendations for July… WHAT TO | READ The Bezos Letters: 14 Principles to Grow Your Business Like Amazon A deconstruction of Amazon CEO Jeff Bezos’ annual […]
If you’re not sure if an ATO interaction is genuine, don’t reply to it. Instead phone us at STS Accounting Group or contact the ATO on 1800 008 540. We’re receiving increasing reports of several myGov-related SMS and email scams. These scams look like they have come from a myGov or ATO email address. They […]
On 21 July, the Government announced it is extending the JobKeeper Payment until 28 March 2021 and is targeting support to those organisations which continue to be significantly impacted by the Coronavirus. From 28 September 2020, eligibility for the JobKeeper Payment will be based on actual turnover in the relevant periods, the payment will be […]
Did you know you can claim a deduction for a donation you make to an organisation, only if the donation meets four conditions: You make it to a deductible gift recipient (DGR) It must truly be a donation. A donation is a voluntary transfer of money or property where you receive no material benefit or […]
Many businesses (and certainly many of our clients) find themselves busy with the day-to-day selling, paying bills, marketing, hiring and firing, talking to the bank, managing the office and so on. They know they should plan for the future but whoever gets time for that? It is so easy to get caught up in the […]
We’re excited to announce that STS Accounting Group has teamed up with eConnex to make it easy for our clients and community to check whether they are getting the best deal on Electricity and Gas for their home or business. Compare. Switch and Save today – view our Electricity and Gas Comparison Tool here. **Please […]
Did you know there’s no threshold for business income? This means you need to lodge an income tax return even if you only earn $1. Income can include money you receive from: – EFTPOS, online, credit or debit card transactions – cash, vouchers and coupons – platforms or accounts, such as PayPal, WeChat or Alipay […]
Weekends are not quite like they used to be, and with all this time at home why not check out one of our favourite films, books or podcasts about (you guessed it) #business & finance! Reading, watching and listening, to other peoples financial experiences, is a great way to learn more about building your personal […]
There’s a lot of talk about data and how it can change the way we do business. It is true, but some managers are not benefiting from utilising the data available to them in their decision-making. Others are spending money on pricey systems in the hope of producing groundbreaking reports, but they don’t always deliver. […]
As we draw to the end of the 2019/20 financial year, now is the time to check out our simple Tax Checklist and see what records you need to compile to make your tax return as simple and efficient as possible. Click Here to Download Your Tax Checklist and get started on your 19/20 Tax […]
As accountants, we want our clients to build resilient and successful businesses. That means overcoming the challenges and pursuing the opportunities presented by current market conditions. Leaders of resilient businesses ensure they understand their market, especially the customers and competition. Some leaders have an ‘innate sense’ about their market; a ‘gut feeling’ about their customers […]
Owing money or falling behind on repayments can be stressful. The good news is there are steps you can take to relieve the financial pressure. If you’re in crisis and struggling to buy food and pay for essentials, visit Money Smart’s Urgent Help with Money page. 1. Know what you owe The first step is […]
Over the past few challenging months the team at STS Accounting Group, have been working hard to ensure each of our valued clients and the broader community, understands and gains access to what they’re entitled to through the Australian Government’s COVID-19 Economic Response Package. As we come to the end of the financial year now […]
If you’re in business and looking to increase or improve your assets, you now have more time to make the most of the $150k instant asset write-off scheme. What is an Instant Asset Write-off? Under an instant asset write-off, eligible businesses can claim an immediate deduction for the business portion of the cost of […]
The ATO has extended the time to enrol for the initial JobKeeper payment to until 31 May 2020. Employers / Sole Traders The JobKeeper payment is open to eligible employers, sole traders and other entities to enable them to pay their eligible employee’s salary or wages of at least $1,500 (before tax) per fortnight. […]
Helping Australian businesses remain viable and keeping people in their homes is good for everyone. The Australian Banking Association is doing their best to ensure all banks within Australia are providing the very best service to their clients. Did you know that relief has now been extended to 98% of all businesses that have […]
Did you know that legislation has passed to provide temporary cash flow support to small and medium businesses and not-for-profit organisations that: – employ staff and – have been affected by the economic downturn associated with COVID-19 (novel coronavirus). Eligible businesses and not-for-profit (NFP) organisations will receive between $20,000 to $100,000 in cash flow […]
