May 2020 newsletter
Sunday, 31 May 2020
Inside our May 2020 newsletter:
- End of financial year review and tax planning
- JobKeeper payments - What now?
- MYOB Essentials update
- Payment summaries and Single Touch Payroll
May 2020.pdf
COVID-19 Stimulus Measures
Melisa WheatleyFriday, 17 April 2020
A snapshot of the available measures to small businesses during this pandemic.
COVID-19 Stimulus.pdf
The Economic Response to the Coronavirus
Melisa WheatleyMonday, 23 March 2020
The government has had no choice but to chuck the economy under the bus to save Australian lives.
The current economic situation is making the GFC look like a kitten. With forced closures of business and isolation directives, it’s difficult for consumers to spend money, if they were allowed out of the house. The knock on effect of these policies will see many people unemployed.
The government is spending a massive amount of money in an effort to support people that may lose jobs and businesses. This newsletter provides details on most of these initiatives.
Martel Wheatley will be working with clients through these challenging times. We are available to ensure our clients maximise all the government support available. We are also working with clients to ensure business cash flow decisions are made early and with confidence.
Big volatility brings big opportunity.
The information in this newsletter was sourced from the The Treasury of the Australian Government.
Economic Response to the Coronavirus.pdf
The Stimulus Package
Sam MartelFriday, 13 March 2020
The Stimulus Package: What You Need To Know
The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus.
The yet to be legislated four part package focuses on business investment, sustaining employers and driving cash into the economy.
For business
- Business investment
- Increase and extension of the instant asset write-off
- Accelerated depreciation deductions
- Cash flow assistance for small and medium sized business
- Tax-free payments up to $25,000 for employers
- Wage subsidy of up to 50% of an apprentice or trainee wage
- Targeted support for severely affected sectors, regions and communities
For individuals
- Household stimulus payments to drive cash into the economy
- Tax-free $750 payment to social welfare recipients
Parliament sits on 23 March. The Prime Minister has stated, "we have no plans to change the parliamentary sitting schedule."
The Stimulus Package.pdf
Credit: Knowledge Shop, March 2020
February 2020
Sam MartelFriday, 28 February 2020
In this newsletter:
- Changes to the AusKey
- International Women's Week
- Text message reminder
- Superannuation guarantee amnesty
- MYOB Essentials update
- Software tip
Download February 2020 Newsletter
December 2018
Saturday, 01 December 2018
Inside this newsletter:
- Let us do your payroll!
- FAQ: Can my business claim a tax deduction for our work Christmas party?
- No tax deduction if you don't meet your wages withholding obligations
- New TPAR reporting industries - road freight, IT, security investigate and surveillance
Download December 2018 Newsletter
2018-19 Budget. Our special budget newsletter!
Friday, 01 June 2018
We have examined the Government's financial budget and put together a special newsletter with key points for our clients. These include:
- Extension of the $20,000 immediate write off deduction for small businesses,
- 3 year audit cycle for self managed superannuation funds (SMSF),
- Maximum number of SMSF members increased,
- No salary and wages deductions for late paying employers,
- Personal income tax cuts,
- Low and middle income tax offsets.
We encourage anyone with questions to contact our office.
We can be contacted on 02 6813 0799 or admin@mwata.com.au
June 2018
Friday, 01 June 2018
Inside this Martel Wheatley Newsletter:
- 12 month amnesty for employers with outstanding super obligations
- Travel relating to residential rental properties
- Personal income tax cuts
- GST property settlement forms and instructions
- New cents per kilometre rate
- New pay rates as of 1 July 2018
- Incorrect application of GST and low value goods imported into Australia
