Update 1 November
We would like to warmly welcome Sue Biggar to our team. Sue is a Senior Accountant and Registered Tax Agent with over 20 years of experience and can assist you with;
Preparation of Financial Reports
Preparation of Income Tax returns
Preparation of Business Activity Statements for all entity types
Other accounting services
Sue also has experience with Not-For-Profit organisations including DGR (deductable gift recipients) requirements.
Welcome Sue!
With pay as you go (PAYG) instalments, you make regular tax payments throughout the year. This helps you avoid a large tax bill when you lodge your tax return.
You can vary your PAYG instalments if you think you will pay too much compared with your estimated tax for the year.
The ATO recognises that many businesses continue to be affected by COVID-19. They will not apply penalties or interest for any excessive variations for the 2021-22 income year.
This applies when you have taken reasonable care to estimate your end of year tax. When considering if a genuine attempt has been made, the ATO will take into account what a reasonable person would have done in your circumstances.
Variations do not carry over into the new income year. If you made variations in the 2020–21 income year, you may need to vary again in 2021–22.
You can vary your instalments multiple times throughout the year. Your varied amount or rate will apply for all your remaining instalments for the income year, or until you make another variation.
If you realise you have made a mistake working out your PAYG instalment, you can correct it by lodging a revised activity statement or varying a subsequent instalment.
Find out about:
Source and credit: ATO.gov.au
When it comes to identity crime, do you know what to look out for? Identity documents are like gold to tax scammers. They can use things like your driver’s licence, passport and tax file number to:
steal your tax refunds and super
commit refund fraud in your name
take over your business and submit amendments to your BAS
Stay one step ahead by treating all requests for information with caution. You should also review your business’s security practices. Make sure you:
have lockable storage units and an appropriate alarm system in place
change all passwords on a regular basis
install up-to-date security and anti-virus software on all devices
secure business files and employee information when not in use
log out of systems and lock computers when not in use.
See also:
Source and credit: ATO.gov.au
As the Government’s export credit agency, Export Finance Australia supports Australian businesses by providing a range of financial solutions to exporters and businesses that are part of an export-related supply chain.
Through loans, bonds and guarantees, Export Finance Australia plays an integral role in supporting Australian businesses to expand into new markets when finance from private financiers is unavailable.
Facing market challenges and disruptions in the past 18 months, many exporters have sought to diversify into new markets. Whether your business is looking to adapt to a changing market, pivot to seize new opportunities or grow internationally, Export Finance Australia’s experienced team is available to support businesses to diversify in a changing world.
Export Finance Australia could support your business to diversify with:
Working capital support – To finance against supplier invoices or international purchase orders.
Capital investment - To purchase new equipment and expand your export operations.
International expansion - To establish or grow your business operations internationally.
Online growth - To invest in e-commerce and grow your sales to international customers.
To discuss your finance needs and the options available, you can call Export Finance Australia on 1800 093 724.
Find out more information about Export Finance Australia.
Source and credit: Business.gov.au
If you wish to arrange a telephone appointment or zoom meeting with one of our team please contact our office either by telephone or email.
22 November 2021 October monthly BAS due
29 November 2021 September quarter SG charge statement due