What is Bootstrapping? Bootstrapping a business is when an entrepreneur uses their own money as start-up capital for their business. The term comes from the old saying ‘pull yourself up by your bootstraps’ and refers to getting something done yourself. This method of financing allows you to have 100% ownership of your business and not […]
First Home Saver Accounts
First Home Saver Accounts Effective from July 1 2015 the government has abolished the first home saver account scheme. From July 1, 2015, all first home saver accounts (FHSA) will be treated the same as any other account held with a provider. This will affect the restrictions on your account and will allow you to […]
Data Matching: Flood and cyclone reconstruction levy
Data Matching: Flood and cyclone reconstruction levy The ATO will request and collect names and addresses of approximately 735,000 individuals who received the Australian Government Disaster Recovery Payment and New Zealand citizens holding a special category visa who received an ex-gratia payment from Centrelink. This information will be electronically matched with certain sections of ATO […]
Choosing a Superfund
Choosing a Superfund All employees are entitled to super contributions made by your employer. The amount of hours you work per work should not be a concern, it is the amount earned that affects your eligiblity for payments. The payment made will be at least 9.5% of your income providing you are older than 18 […]
Government Will End Benefits For Parents Who Do Not Vaccinate
Government Will End Benefits For Parents Who Do Not Vaccinate It has been confirmed that the Government will end benefits for parents who do not vaccinate. This will effect the eligibility for taxpayer-funded payments (including Child Care Benefit, Child Care Rebate and the Family Tax Benefit Part A end of year supplement) will be dependent on […]
ATO contact numbers- Individual entities
ATO contact numbers- Individual entities Phone number Self-help service What you can do 13 28 65 Individuals Enquire about the progress of your lodgments Search for your lost super Apply for refund of GST credits Make a payment arrangement 13 72 26 Business Lodge your: NIL activity statement NIL annual GST return GST or PAYG […]
BAS Due Dates 2015
BAS Due Dates 2015 Quarterly reporting The due date for lodging and paying is displayed on your business activity statement (BAS). If the due date is on a weekend or public holiday, you can lodge your form and pay on the next business day. Quarter Due date – paper Due date – online 1 – July, […]
PAYG withholding variations
PAYG withholding variations PAYG withholding variations PAYG withholding variations should be used when the payee (the person receiving a payment) wants to reduce their withholding rate for the year ending 30 June. If this is you, please read further or call the office. The main purpose of varying your rate or amount of withholding is to make […]
