The Government has announced its economic response to the Coronavirus in the form of a $17.6 billion economic stimulus package. The package has been marketed as a measure to protect the economy by maintaining confidence, supporting investment and keeping people in their jobs.
The Australian Taxation Office (ATO) focus on the black economy is starting to pay dividends. They have revealed it received a record-breaking 15,000 tip-offs to its Tax Integrity Centre in the first quarter of this financial year.
AGS has once again been announced in the Australian Financial Review Top 100 Accounting Firms for 2019.
Small business owners may be able to claim deductions for the costs of using their home as a principal place of business when filing their income tax return.
Businesses can no longer claim deductions for payments to workers if they have not met their pay as you go (PAYG) withholding obligations. This applies to income tax returns lodged for the 2020 income year onwards.
| 21 October |
Lodge and Pay September 2019 Monthly Business Activity Statement. |
| 28 October |
Lodge and Pay September 2019 Quarterly Activity Statement if lodging by paper. Make super guarantee contributions for the September 2019 quarter to super funds by this date. |
There has recently been a significant increase in scam emails purporting to be from either the ATO or from MyGov.
Whilst cash still remains popular in businesses dealing in small purchases such as cafes, if you run a business that handles larger transactions then changing to a cashless system could benefit you in many ways.
Imagine you were no longer able to look after your financial affairs, or, less dramatically, simply found it an increasing burden to manage your money. How easy would it be for a trusted family member to step in and help you?
Tired of paying rent to a lazy landlord and watching your friends become homeowners, you crunch the numbers and figure out you can get a home loan at an interest rate of around 3.7% per annum.
Financial planning, corporate benefits and mortgage services are provided by AGS Financial Group Pty Ltd ABN 70 093 990 946, an Authorised Representative of AMP Financial Planning Pty Limited ABN 89 051 208 327 (AMPFP), AFS Licence No 232706. Accounting, taxation, and business advisory services are provided by AGS Accounting Pty Ltd ABN 12 166 728 696. AGS Accounting Pty Ltd is a member of Chartered Accountants Australia & New Zealand. Liability limited by a scheme approved under Professional Standards Legislation.