When claiming work-related car expenses, many people miss maximising their claim due to poor record keeping. Inadequate records can also cost dearly if you are audited by the Australian Tax Office (ATO).
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Christmas will be here in a moment and many employers will be thinking about recognising their team’s efforts throughout the year. You may already have plans in place, but have you thought about how to manage tax and Christmas gift giving? Feel free to celebrate, but make sure you don’t get stung with unexpected taxes. […]
Released at 7:30pm on 6 October 2020, the Federal Budget 2020-21 was delayed as a result of Australia’s – indeed the world’s – attention being diverted to managing the COVID-19 pandemic. As a result, the Budget is all about stimulus an support.
The JobKeeper scheme has been extended from 28 September 2020 until 28 March 2021. The extension applies over two separate extension periods: Extension 1: from 28 September 2020 to 3 January 2021 Extension 2: from 4 January 2021 to 28 March 2021 For each extension period, an additional actual decline in turnover test applies and the rate […]
Changes to JobKeeper eligibility rules, announced on 14th August, mean we now need to revisit JobKeeper 1.0 to ensure your business stays eligible and to maximise your JobKeeper entitlements. Indeed, the changes may result in increased JobKeeper 1.0 payments for some businesses. The government has also announced a relaxation of eligibility criteria for JobKeeper 2.0.
As we continue to adapt to life with the coronavirus, the one certainty is how rapidly things can change, and predicting how the next six months unfolds would be anyone’s guess. Despite the uncertainty, both Federal and State governments continue to do all they can to assist businesses and the economy to respond accordingly.
The ATO continues to roll out much-needed details about JobKeeper Payments, allowing us to advise clients with increasing clarity. Recent information has served to broaden eligibility for some businesses and extend deadlines, opening pathways for more businesses to potentially benefit from the subsidy.
The roll-out of the JobKeeper program continues at a rapid pace. Is your business ready for the JobKeeper Subsidy?
We have now updated our COVID-19 Updates and Resources page to include some key insights into investment markets and economic conditions. This will be particularly relevant to our investor and financial planning clients.
The JobKeeper Payment, at $130B, is the single biggest economic support measure in Australia’s history. The more we hear and read, the more confident we are that this measure has definitely hit the mark and will be the saviour for many businesses and thousands of jobs.
Synectic is a Chartered Accounting and Advisory firm that brings together the skills of business advisers, accountants, taxation experts, financial planners, auditors, and self-managed superannuation experts.
Our team operates Tasmania-wide from Devonport, Hobart and Launceston offices.
Our mission is to enhance the prosperity of our people, clients and community. We offer the depth of knowledge, specialist skills and resources usually associated with much larger firms. Yet our size, availability and flexibility enables us to develop an in-depth understanding of your business and financial affairs. You can count on us.
A: 49 Best Street, Devonport
P: (03) 6424 1451
A: 30 Burnett Street, North Hobart
P: (03) 6239 4900
A: Level 3, 46 St John Street, Launceston
P: (03) 6337 6777
M: PO Box 6003, Devonport, TAS, 7310
Liability limited by a Scheme approved under Professional Standards Legislation.