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Tax Checklists

 

With the end of the financial year there are an number of things you can put together to make the completion of your tax return easier.

Please see our checklists for Salary & Wage Returns and Rental Properties.

Let the team of experienced tax professionals at McLaren Hunt work on getting the best outcome for your tax return this year, whilst adhering to all COVID-19 requirements to ensure your health and safety. 

Call 5562 3544 or email admin@mhfg.com.au our office now to arrange your tax appointment. 

JobKeeper Payment Update

 

JobKeeper Package Update

Following the Government passing the JobKeeper Payments Program through Parliament last week, please find the link to the rules that regulate its implementation here.

In addition to this, the ATO has announced that enrolments for the program will open on Monday 20th April 2020. The business owner or their McLaren Hunt Accountant can enrol for the JobKeeper payment using the 8 step guide below. Please contact us if you would like us to complete this process for you.

Step 1 – Register your interest and subscribe for JobKeeper payment updates.

Step 2 – Check you and your employees meet the eligibility requirements.

Step 3 – Continue to pay at least $1,500 to each eligible employee per JobKeeper fortnight (the first JobKeeper fortnight is the period from 30 March to 12 April).

Step 4 – Notify your eligible employees that you are intending to claim the JobKeeper payment on their behalf and check they aren't claiming JobKeeper payment through another employer or have nominated through another business.

Step 5 – Send the JobKeeper employee nomination notice to your nominated employees to complete and return to you by the end of April if you plan to claim JobKeeper payment for April. Keep it on file and provide a copy to McLaren Hunt Financial Group.

Step 6 – From 20 April 2020, you can enrol with us for the JobKeeper payment using the Business Portal and authenticate with myGovID. You must do this by the end of April to claim JobKeeper payments for April.

Step 7 – In the online form, provide your bank details and indicate if you are claiming an entitlement based on business participation, for example if you are a sole trader.

Step 8 – Specify the estimated number of employees who will be eligible for the first JobKeeper fortnight (30 March – 12 April) and the second JobKeeper fortnight (13 April – 26 April).

McLaren Hunt Financial Group will continue to provide information as it is released.



Working Remotely

 

McLaren Hunt have moved to a predominantly remote environment

 

As the Government continue to increase strict measures of social distancing and isolation, we have decided to move to a predominantly remote environment for the foreseeable future to ensure we are doing everything we can to keep our staff, clients and the community safe and well.

Please continue to call our office on 5562 3544 for any queries or to set up a phone appointment.

If you need to get documents to us please drop them in the letter box at the front of the office, otherwise call our office to make arrangements.

We thank you very much for your co-operation during this time of adjustment.

Stimulus Package Update

 Latest Round of Stimulus Packages for Business and Individuals have been announced. Details can be located here

Please contact us for further information.

 
New Post

Economic Stimulus Package

Business owners, are you aware of the two new economic stimulus packages recently released by the Australian Government?
See the attached links for more information or please contact us to discuss:
- Cash flow assistance for business
- Delivering support for business investment - increased instant asset write-off

Fuel Tax Credits

   

Fuel Tax Credits

In your business, do you use machinery, plant, equipment, heavy vehicles or light vehicles travelling off public roads or on private roads? If you do, make sure you are registered to claim the fuel tax credits available for fuel used to run the equipment listed. Payment rates vary depending on the use of the fuel. Link attached for fuel tax credits information and payment rates or contact us for more information.

Super Guarantee Payments

 

Super guarantee payments

From January 1 2020, if you are an employer with an employee who is making contributions to super under an effective salary sacrifice arrangement, superannuation guarantee is required to be paid based on an employee's ordinary times earnings base. This is the sum of your employee's OTE and any sacrificed OTE amounts. Please contact us or refer to this link for future information 

Christmas Trading Hours

McLaren Hunt wishes you a very merry Christmas and a happy new year. Thank you for your continued support and partnership. We look forward to working with you in 2020.

Our office hours over the Christmas period are:
- Closed 12pm Friday 20th Dec.
- Re-open 9am Monday 6th Jan.

Instant Asset Write Off Changes

  Instant Asset Write Off Changes

Small businesses now have the ability to immediately write off an asset purchased for less than $30,000 starting from budget night 2019 through to the 30th of June 2020

For more information please contact us or refer to the ATO website. 

Small Business Benchmarks

 

Small Business Benchmarks


Would you like to know how your small business compares to other similar businesses in your industry? The ATO provide benchmarking information and tools for you to use.

 

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