Liz Stevens Accounting & Tax

Remember super guarantee for all employees must be paid by 28 April.

Enjoy your long weekend......

Even if you weren't receiving Jobkeeper, cash is king for small business. It's always a good time to review your cash flow and anticipate how it will affect your budget

If your business has been affected by flood (or any natural disaster), the ATO has measures in place to keep you in touch with your tax obligations:
https://www.ato.gov.au/General/Dealing-with-disasters/In-detail/Specific-disasters/Floods/

A great article today about choosing your super fund. Do you know how your fund compares to others? But the gap between men and women's super balances remain.
https://www.abc.net.au/news/2021-03-09/women-have-less-superannuation-but-women-run-funds-outperform/13227162

If a teenager starting their first job, pays just 0.67% less in fees in their super fund, over their working life, they will have more than $450K more in super at retirement!
[source: The Barefoot Investor]

Thinking about engaging a financial planner?

Same but different. A question I'm often asked is what's the differences between an offset account and a redraw facility. While they may seem very similar, f the mortgage is funding a rental property then the tax outcome can be quite different.

It's a new year so have you thought about your 2021 financial goals?

Those post-holiday blues......

A new working year. I hope your year is off to a cracking start!

I hope you're getting a break this year. I'll be away from the office until 11 January, but will be checking emails for anything urgent.

Don't let a Christmas hangover spoil your New Year. Set a budget!

What did the tax cuts in the budget mean for you?

Is your accountant a registered tax agent? You can check by going to:
https://www.tpb.gov.au/registrations_search

Having problems meeting your super obligations? Don't ignore it,

The Budget announced an incentive for businesses to employ young job seekers. It's still subject to legislation at this stage, but here's a summary.

Support your local small business - the powerhouse of our economy and the glue binding together our neighbourhoods

Following last month's budget, the Australian Tax Office have released the new tax withholding tables;
https://www.ato.gov.au/Rates/Tax-tables/