As an investor it’s important for you to analyse the reasons why you’re looking to invest. You want your property portfolio help you achieve your personal, professional and lifestyle goals
There is no doubt that property investments are a hot topic right now. So many people feel that they are missing out, and are looking at ways they can increase their exposure to property. Residential Property investments have always been a key platform and asset class for Aussies as they consider retirement. With the advent
With all of the current uncertainty those of you wanting to lend or refinance the process is currently taking much longer than usual. Some of the lending institutions being Banks or private lenders previously used offshore staff however offshore staffing levels have been reduced which in turn means lengthier application times. When interest rates were
ROUND TWO WILL OPEN ON 1ST JULY 2020 Small business COVID-19 Adaption Grant Program This funding round may only be open for a short period due to demand and will close when the funding allocation is anticipated to be exhausted. Successful applicants from round 1 of this program cannot apply for funding under round 2.
The Government grant has been developed to support small businesses which were impacted by the COVID-19 shutdown restrictions. Directly aimed at small and micro businesses to assist with, the preparation of safe resumption of trading, assist with accessing digital technologies to rebuild business operations.
COVID-19, Government Stimulus and JobKeeper Payments The Australia Taxation Office opened the registration for Businesses to enrol for JobKeeper payments yesterday. To be eligible for this first payment registrations must be lodged with the ATO by the 26th April 2020. Whilst you may have already registered interest, you still need to enrol.
The Queensland Government is offering the following land tax relief to eligible landholders: a land tax rebate reducing land tax liabilities by 25% for eligible properties for the 2019-20 assessment year a waiver of the 2% land tax foreign surcharge for foreign entities for the 2019-20 assessment year a 3-month deferral of land tax liabilities for the 2020-21 assessment year.
COVID-19 has changed the way we perform so many activities. Poole Group is here and is working to ensure we are supporting all of our clients. The Government has released various Stimulus Packages to obtain details of these Government packages, please click on the link below https://poolegroup.com.au/poole-group-la…nment-stimulus/
Poole Group is here to support you, your family and your business, guiding you through the details of the stimulus packages. If you have not yet been in contact with us to discuss the various Government Stimulus Packages available please click on one of the following and it will take you directly to our website to obtain
New 80c/hr to cover ALL costs (for hours work between 1/03/2020 to 30/06/2020) To make it easier for people to claim deductions for working from home, the ATO has announced a new shortcut method which will allow taxpayers to claim a rate of 80 cents per hour for all their running expenses, rather than needing to calculate
Self-Employed Support – JobKeeper Payment Over the weekend the has Government provided clarification on the eligibility of the JobKeeper payment for business owners themselves. A significant number of business owners aren’t paid a salary or wage. They receive income as a partner or by way of a trust distribution or dividends.
Provided by the National Tax and Accountants Association April 2020 The Federal Government has announced a relief package for the child care and early childhood education sector (‘child care sector’).
The JobKeeper payment scheme announced by the Federal Government has been designed to assist employers (inc self-employed) affected by the Coronavirus pandemic to continue to pay their workers. The legislation governing this program is currently being finalised and will come before Federal parliament in the week of 6 April 2020. Employers registered for the JobKeeper scheme
With Covid19 so many of us are working from home. Did you know that you can claim a tax deduction? That’s right. Employees who work from home can claim the work-related proportion of their running expenses. These expenses are the cost of using equipment and utilities at your home for work. If you are an employee please,
Yesterday, 30th March 2020, the government has made the announcement about this new Job keeper payment. Please find attached information put out by the Australian Government. We don’t have any further information with the details as the legislation is still to go through parliament. If you feel you may be entitled to it, below is
The ATO have confirmed that SMSFs can provide ‘a temporary rent reduction’ to tenants, including a tenant: who is a related party or related trust where a member, relative or a member or related party/trust has an underlying economic interest in the tenant. Although this would normally trigger a range of SIS Act compliance breaches,
Queensland Covid19 Job Support Loan UPDATED As previously advised the Qld government have released a $250,000 loan to eligible businesses to retain employees and maintain their operations. To apply go to: http://www.qrida.qld.gov.au/current-programs/covid-19-business-support/queensland-covid19-jobs-support-scheme
Centrelink/Services Australia If you already receive Centrelink, DO nothing, don’t call or go to the Centrelink offices. The phone lines and offices are experiencing high numbers. Both of the recently announced payments of $750 x 2 payments for concession holders and an extra $550 coronavirus payments will be automatically applied to you if you are
Poole Group is here to support you! Whilst we are continuing to operate as usual, we only have skeleton staff working at our office. The majority of our team is now connecting securely to our server from their home. This ensures minimal disruption to providing you with our standard quality services.
On Sunday 22nd March 2020, the Commonwealth Government released the second stage of its economic plan to cushion the impact of COVID-19 on the economy and provide support to businesses and individuals.
On Wednesday 11th March 2020, the World Health Organisation (WHO) upgraded the status of the COVID-19 outbreak from epidemic to pandemic. We are here to assist any clients who are being directly or indirectly affected by this Pandemic, please contact our office for assistance to speak with your adviser regarding current Government Stimulus package, business
Australian Government Fiscal stimulus Yesterday the Government’s announced fiscal measures in response to the current Coronavirus (COVID-19). The measures are aimed at providing a boost to households and businesses. The current COVID-19 pandemic is unchartered territory and presents challenges only human health but also to businesses and the economy. Economic response summary · Increase in
YEAR END TAX PLANNING, IT’S NEVER TOO EARLY. Can you believe it’s February 2020 already? We thought we would get in early and mention some tips on tax planning that you may want to think about over the coming months. Tax planning for the end of the Financial Year should not be left too late.
Our Poole Group office will be closed the 6th December 2019, to allow all our staff to participate in our Christmas Activities. We will have an answering service which will be able to take messages which we will respond to when we return to our usual working hours on the 9th December 2019.
A new Australian Taxation Office Campaign As part of their latest campaign, the Australian Taxation Office (ATO) is contacting Self Managed Super Fund (SMSF) Trustees directly where 90% or more of their SMSF’s investments belong to the same asset class (Eg. property).
If you read the business pages of the newspaper, you may have seen the term ‘inter generational wealth transfer’ starting to appear more frequently. That’s because an estimated $3 trillion of wealth is predicted to change hands over the next two decades, from households of Australians age 55+ to younger generations.[i] This represents a massive shake-up
Can you believe 30th June 2019 is almost here? We suggest for businesses to be ready for the end of financial year, below are a few standard business items for you to look at -: For businesses for eligible plant purchased during 2018/19 you will be eligible to claim a 100% immediate write-off for businesses
Australian Taxation Office Text Messages Over the last week we have been contacted by some concerned clients who have received ATO text messages. The ATO recently advised they will contact taxpayers via text message for overdue form lodgements or overdue payments of GST or Income Tax. However, the ATO will never ask you to respond via
With the banking review performed in March 2018 Lending rules have tightened. As part of this if any of you are considering applying for finance keep the below in mind: Finance applications are not being approved as quickly as they have been historically; Current financial information is required, this means current year tax returns and
Let’s face it: no-one likes to think of death, especially their own. It’s not exactly a great conversation starter, is it? This might explain why so many people end up “dying Intestate” which means they die without a will and, as a consequence, have their assets distributed according to State law.
Our chances of living longer are increasing as life expectancy continue to increase. At age 65 a person’s chance of needing aged care during their remaining lifetime is 68% for females and 48% for males. Old age can be associated with declining cognitive abilities, resulting in problems when managing personal finances.