IPA
J N Hartcher
Accounting & Taxation Services


FOOTY COMP


On this page

Contact

Services

COVID-19 News  

JobKeeper Extensions

Working from Home

Super Guarantee Amnesty

Tax 2020

Profile



C O N T A C T
phone: 0249 873682

email:jnhartcher@bigpond.com

LOCATE ME


PROFILE  JH
I commenced my Accounting Profession with a prominent firm in the Newcastle CBD and remained there from 1971-1985.
Eventually I moved on and opened my own Practice in downtown Raymond Terrace where I remained from 1986-1999.
In 2000 I relocated the Practice to a Home Office where my focus is now Small Business Accounting/Consulting and Taxation Services.
And there but for the grace of God, I still remain.

I have been using my own accounting software The WorkBench Delphi since the mid 1980's and it is now used by many of my clients. The package was purposely written with simplicity of use in mind and users rarely require assistance. Remote assistance is available for those who may.

Tax
Force me. This sets the width of the grid.


S E R V I C E S
Income Tax Returns

Accounting

Small Business Consulting

Windows Desktop Accounting Software more

Whether it be 'In Office' with social distancing, electronic or digital communication, it will be quasi business as usual. Where possible, clients will be encouraged to provide documents via email. Documents needing to be signed off can be processed/delivered similarly. If contact is necessary during this period, initially you can telephone me or use the link below to email me at jnhartcher@bigpond.com
I wish you all the best during these trying times.


COVID-19
COVID-19 Early release of Super View

You will need and have a MyGov Account linked to the Australian Taxation Office and depending upon your security settings you may require the use of a mobile phone.
The ATO Request for Withdrawal process is brief and functional.






NSW Gov't COVID-19 Assistance View



Job
JOBKEEPER EXTENSIONS (1 and 2)
NOTE: From 28th September businesses will be required to satisfy the 'Fall In Turnover' test by comparing September 2019 quarter GST Turnover with September 2020 quarter GST Turnover to qualify for JobKeeper.

For the first extension period running from 28 September 2020 to 3 January 2021, employees who worked for 80 hours or more in the 28 day period before either 1 March 2020 or 1 July 2020 will receive $1,200 per fortnight, while all other employees will receive $750.
For more information refer to:   JobKeeper Changes PDF

It is important to note that GST turnover is a specific term which may include different revenue items to what is usually included in Business Activity Statements. For example, GST turnover for the purposes of the JobKeeper provisions includes all taxable supplies, most GST free supplies, but not input taxed supplies.

    Input Taxed Supplies can be:
  • Financial supplies (which includes most transactions relating to money)
  • Supplies of residential rents
  • Sales of residential premises (but not new homes)
  • Precious metal supplies
  • Food supplied by school tuckshops and canteens
  • Fundraising events by charities and
  • Coin-operated devices



JobKeeper extension 2

Yes.

This extension period will run from 4 January 2021 to 28 March 2021.
You will need to show that your actual GST turnover has declined in the December 2020 quarter relative to a comparable period (generally the corresponding quarter in 2019). See the actual decline in turnover test. You also need to have satisfied the original decline in turnover test. However, if you: were entitled to receive JobKeeper for fortnights before 28 September, you have already satisfied the original decline in turnover test are enrolling in JobKeeper for the first time from 28 September 2020, if you satisfy the actual decline in turnover test, you will also satisfy the original decline in turnover test (except for certain universities). You can enrol on that basis.

You can be eligible for JobKeeper extension 2 even if you were not eligible for JobKeeper extension 1.
The rates of the JobKeeper payment in this extension period are:
Tier 1: $1,000 per fortnight (before tax)
Tier 2: $650 per fortnight (before tax). The full detail





WORKING FROM HOME DURING COVID-19
If you are working from home you may be able to claim some work related home office expenses View



SUPER GUARANTEE AMNESTY
Super Guarantee Amnesty ended 7 September More



TAX 2020
OVERVIEW OF KEY TAX CHANGES FOR 2020view



PAYMENT SUMMARIES/INCOME STATEMENTS
You may not receive a payment summary from your employer if they are reporting through Single Touch Payroll (STP). If you are using a Registered Tax Agent, they will have access to these as was the case in the past. Alternatively, you can link your myGov account to the ATO and obtain an Income Statement/Payment Summary. more



INSTANT ASSET WRITE-OFF
New or Second hand Plant and Equipment purchased prior to June 30th will qualify for the Small Business Instant Asset Write-Off. Acquisitions must be below the threshhold at the time of purchase which was $30,000 until 12th March and increased to $150,000 from that day until 31st December, 2020 for new acquisitions.more




RESIDENTIAL RENTAL PROPERTY TRAVEL
Travel to inspect, maintain or collect rents for residential rental properties is no longer deductible.more




OTHER TAX TIME CONSIDERATIONS
  • Superannuation
  • Rental Property
  • Depreciation
  • Travel and Meal Allowances
  • Record keeping for Home Office and other minor expenses
  • Motor Vehicle Record keeping
  • HELP, HECS & other Loan Schemes
  • more

Force me. This sets the width of the grid.