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Strategem Financial Services

Strategem is the best accountants and financial advisors in Bendigo and Melbourne. We are a reputable accounting firm providing a range of personalised and customised financial services to our clients.

What you need to know about the JobKeeper Payments. Update, Tuesday 28 April: The Australian Taxation Office has extended the deadline for businesses to enroll for the initial JobKeeper periods.

What you need to know about the JobKeeper Payments

Initially, employers were required to apply before 30 April 2020 however the extension will now see the deadline extended to 31 May 2020. Businesses who enroll by 31 May will be able to claim both of the Jobkeeper fortnights in April and May, provided they have met all of the eligibility requirements for those fortnights. To be eligible you must have paid your employees by the appropriate date for each of the fortnights. For the first two fortnights (30 March — 12 April, 13 April — 26 April), the ATO will accept the minimum $1,500 payment for each fortnight has been paid by you even if it has been paid late, provided it is paid by 8 May 2020. By Strategem Financial Services. Sometimes all we need is a little forced change.

by Strategem Financial Services

How many of you have tried something new in your business since the COVID19- outbreak? And how many of these things have you been thinking about for a while, but just hadn’t found the time, or motivation to implement? The COVID-19 pandemic has proven to be one of the biggest economic crises that our nation has ever faced. Within weeks of the virus hitting our shores, borders were closed, businesses forced to shut, people movements restricted and thousands of Australians were unemployed.

The outbreak pushed us into new territory. But has it been all doom and gloom for businesses? For many, the unprecedented change has been unavoidable. Tax preparation and rental properties — what you need to know as a landlord. Rental properties are always high on the ATO’s agenda and this year will be no different.

Tax preparation and rental properties — what you need to know as a landlord

If COVID-19 has impacted commercial or residential premises you own and rent out, from a tax perspective there is very little that has changed. If tenants remain in the property or the property remains genuinely available for rent, you can continue to claim expenses as usual, even if the rental rate has been reduced on a temporary basis or tenants have been unable to pay rent for a period of time.If you negotiated with your bank to defer mortgage repayments, you can continue to claim interest as the deferred interest is capitalised.If you received an insurance payment for rent defaults, or your tenant made a back payment of rent they owe, this income is taxable and will need to be declared in your tax return.

Deliberate cases of over-claiming are treated harshly with penalties of up to 75% of the claim. Trust in Wealth Management Services - Strategem. What you need to know about the JobKeeper Payments. When life gives you lemons - Strategem. Tax preparation and rental properties - what you need to know as a landlord - Strategem. Following the ATO's golden rules this tax season - Strategem. Dates to be aware of this tax season - Strategem. Keeping you up to date with COVID-19 support packages - Strategem. Following the ATO’s golden rules this tax season. As 30 June rolls around again for another year, it’s time for business owners to start thinking about their tax and end of financial year responsibilities.

Following the ATO’s golden rules this tax season

It’s no surprise that the past six months have been particularly challenging for businesses and the Australian Taxation Office (ATO) recognize this. “The ATO understands that small businesses have a lot on their plate with the day-to-day running of their business. That’s why we’re focusing on addressing common issues we see when small businesses lodge their returns so that we can support them to get it right,”. — Assistant Commissioner, Peter Holt The Australian Taxation Office has identified the top three most common issues found when small businesses lodge their tax returns.

Dates to be aware of this tax season. For many, the end of the financial year means getting your receipts and documents organized in preparation to lodge your annual tax return.

Dates to be aware of this tax season

Keeping you up to date with COVID-19 support packages. Strategem supports Bendigo Health by going Dry this July - Strategem. What does the Federal Budget mean for you? - Strategem. Does your business have a COVIDSafe Plan? - Strategem. Strategem supports Bendigo Health by going Dry this July. UPDATE: Thanks to the help of our employees, friends, and family, we managed to smash our Dry July fundraising target, raising a total of $3,182.28.

Strategem supports Bendigo Health by going Dry this July

We are extremely proud of this effort and are proud to know that this money will go directly toward making a difference in the lives of people who use our Bendigo Health cancer services. A wonderful effort by the Bendigo community, Dry July 2020 managed to raise $77,850 for Bendigo Health. Further to this, thanks to an anonymous donor, the grand total raised amounted to $177,850.43.

Dry July 2020 raised $177,850.43 for Bendigo Health. The Bendigo Health Cancer Wellness Program provides support to patients and carers who are going through a cancer journey. Bendigo Health is an approved recipient of Dry July funding meaning all funds raised through the campaign in the Bendigo area, stay in our local community and provide support to our local health facility.

What does the Federal Budget mean for you? As widely anticipated, the announcement included bringing forward personal income tax cuts already legislated.

What does the Federal Budget mean for you?

Does your business have a COVIDSafe Plan? It’s been a long nine months but as we continue to see coronavirus cases in Victoria drop, it’s time to start returning to a new COVID normal.

Does your business have a COVIDSafe Plan?

But what does this look like? Even though we are seeing restrictions eased across the state, we still have to follow the preventative measures put in place to avoid another outbreak. As a result of the 2020 pandemic, it is mandatory for every Victorian business to have a COVIDSafe Plan in place to ensure they are meeting their obligations. Businesses must have a plan in place that addresses the six key principles of a COVIDSafe workplace: Ensure physical distancingWear a face maskPractice good hygieneKeep records and act quicklyAvoid interactions in enclosed spacesCreate workforce bubbles.