Douglas & Harrison News
$250 Power Saving Bonus Program
$250 Power Saving Bonus Program
You may be eligible for a one -off $250 payment if you are in a Victoria household. See link below
https://compare.energy.vic.gov.au/psb-faq
Applications are open between 1 July 2022 and 30 June 2023. The Bonus is available to all Victorians households who visit the Victorian Energy Compare website or engage with […]
July Newsletter Published 13.07.2022
July Newsletter Published 13.07.2022
Our July Newsletter was sent out today – Did you receive yours?
July 2022 Issue Covered
ATO Prioritising Debt Collection
As the economy emerges from COVID-19, the ATO is re-focusing on debt collection. These are some of the topics covered in our Newsletter.
- Last minute trust distributions and record keeping
- Super […]
June Newsletter Published 2.06.2022
June Newsletter Published 2.06.2022
Our June Newsletter was sent out today – Did you receive yours?
June 2022 Issue Covered
30 June Tax Planning
- Temporary full expensing
- Crystalise capital losses
- Write-off bad debts
- ATO warning of fake ABN and TFN scams
– Tips to protect yourself from scammers
– Know your tax affairs
– Guard your personal […]
May Newsletter Published 18.05.2022
May Newsletter Published 18.05.2022
Our May Newsletter was sent out today – Did you receive yours?
May 2022 Issue Covered
Why Super can Help Save for Your Retirement
- Concessional tax environment
- Compounding interest can boost your savings
- Locked away until retirement
- Provides an income for your retirement
- Further developments on trust distributions
– BACKSTORY
– NEW […]
April Newsletter Published 13.04.2022
April Newsletter Published 13.04.2022
Our April Newsletter was sent out today – Did you receive yours?
April 2022 Issue Covered
FBT Year-end Checklist
- FBT year-end checklist includes
– CARS
– LOANS
– DEBT WAIVER
– HOUSING
– LIVING AWAY FROM HOME ALLOWANCE (LAFHA)
– EXPENSE PAYMENTS
– CAR PARKING
– ENTERTAINMENT - Record keeping
– ATO REQUIREMENTS
– DIGITAL RECORDS
– STORAGE OPTIONS
– DIGITAL ADVANTAGES - ATO’s […]
2022 Federal Budget Wrap Published 31.03.2022
2022 Federal Budget Wrap Published 31.03.2022
Our Special 2022 Budget Wrap was sent out today – Did you receive yours?
2022 Federal Budget Wrap Issue Covered
What’s in it for you and your business?
The 2022/23 Budget was handed down last night by the government.
While there was some targeted, boutique assistance for small business, […]
March Newsletter Published 16.03.2022
March Newsletter Published 16.03.2022
Our March Newsletter was sent out today – Did you receive yours?
March 2022 Issue Covered
On-boarding New Employees
- Paying employees super through a super clearing house
– WHAT IS A SCH?
– WHY DO CONTRIBUTIONS HAVE TO BE MADE ELECTRONICALLY?
– WHERE DO I FIND A SCH?
– WHAT TO CONSIDER WHEN CHOOSING […]
February Newsletter Published 17.02.2022
February Newsletter Published 17.02.2022
Our February Newsletter was sent out today – Did you receive yours?
February 2022 Issue Covered
Single Touch Payroll 2: The time has come
- ATO: Benefits for employers
- What isn’t changing?
- In practice
- Consolidate your super
– The benefits of consolidating funds
– Things to consider before consolidating - What does Temporary Full Expensing (TFE) of […]
December Newsletter Published 10.12.2021
December Newsletter Published 10.12.2021
Our December Newsletter was sent out today – Did you receive yours?
December 2021 Issue Covered
Have you obtained your Director ID? Make sure you do.
- Background
- Who needs to apply?
- When do you need to apply?
- How do you apply?
- Penalties
- Take-home messages
- Where there’s a will, there’s often […]
November Newsletter Published 17.11.2021
November Newsletter Published 17.11.2021
Our November Newsletter was sent out today – Did you receive yours?
November 2021 Issue Covered
New laws to improve the way super is divided in divorce
- How the new law works
- CGT on sales of property inherited by a foreign resident
– GENERAL RULES
– CALCULATION OF PARTIAL EXEMPTION - CGT retirement […]
October Newsletter Published 13.10.2021
October Newsletter Published 13.10.2021
Our October Newsletter was sent out today – Did you receive yours?
October 2021 Issue Covered
Compensation Payments: Avoiding contribution issues
- The implications for the fund and members
– Knock-on effects for members
- Home as a place of business during COVID: CGT implications
- Inheriting rental properties jointly A dilemma?
– CGT triggered
– […]
One-off Support Payments for the Construction Industry
One-off Support Payments for the Construction Industry – Business Costs Assistance Program Round Four
Are you an eligible employing and non-employing business in the construction sector that operate in the following local government areas:
- Metropolitan Melbourne
- The City of Greater Geelong
- Mitchell Shire
- Surf Coast Shire
You must have incurred direct costs because of the health restrictions in […]
Are you an Employee in the Construction Industry in Victoria needing Financial Support?
Are you an Employee in the Construction Industry in Victoria needing Financial Support?
You may be able to get COVID-19 Disaster Payment if you’ve been impacted by the shut down in September 2021.
You can claim COVID-19 Disaster Payment if you’re unable to work and earn income because of the shut down in any of these areas:
Commercial Tenancy Relief Scheme Reintroduced
Commercial Tenancy Relief Scheme Reintroduced
The Commercial Tenancy Relief Scheme has been reintroduced by the Victorian Government to alleviate the financial hardship faced by tenants and landlords as a result of the COVID-19 pandemic.
The Scheme will be available to businesses with an annual turnover of less than $50 million that have suffered a decline in turnover of […]
September Newsletter Published 15.09.2021
September Newsletter Published 15.09.2021
Our September Newsletter was sent out today – Did you receive yours?
September 2021 Issue Covered
On the Road: How to Treat Work-related Travel and Living Away from Home Costs
- Travel allowance versus living away from home allowance
- SMSFs & property development Emerging risks
– Engage an unrelated property developer
– Undertake […]
Small Business COVID Hardship Fund (CLOSES 10/9/21)
Small Business COVID Hardship Fund (CLOSES 10/9/21)
Providing $10,000 grants for eligible small and medium businesses that have experienced a reduction in turnover of at least 70%.
The Victorian Government has recognised the business community is doing it tough because of the global pandemic. The Victorian Government’s Small Business COVID Hardship Fund will assist eligible small […]
August Newsletter Published 12.08.2021
August Newsletter Published 12.08.2021
Our August Newsletter was sent out today – Did you receive yours?
August 2021 Issue Covered
What the New Your Future, Your Super Means for You
- Capital works deductions for rental property
– Construction expenditure that cannot be claimed
– Required details
– Adjustments to the CGT cost base
– Construction expenditure that can […]
Business Costs Assistance Program Round Two July Extension (APPLICATIONS CLOSE 13/8/21)
Business Costs Assistance Program Round Two July Extension
(APPLICATIONS CLOSE 13/8/21)
The Business Costs Assistance Program Round Two July Extension provides eligible businesses that had not previously applied for the Program in June, or have since become eligible, with the opportunity to apply for $4800 in support.
More COVID-19 Support Coming for Eligible Sectors Hit the Hardest
More COVID-19 Support Coming for Eligible Sectors Hit the Hardest
We will update you further as information becomes available and applications are open.
A new jointly funded package from the Commonwealth and Victorian Governments will give Victorian small and medium businesses the extra support and […]
2021-22 Lodgement Rates and Thresholds – July Information Newsletter
July Information Newsletter – 2021-22 Lodgement Rates and Thresholds Published 20.07.2021
Our July Information Newsletter was sent out today – Did you receive yours?
July 2021-22 Lodgement Rates and Thresholds Issue Covered
- Individual tax rates
– Individual tax rates for residents
– 2020-21 Tax thresholds - 2021-22 Resident minors’ tax rate on eligible taxable income
- Individual […]
July Newsletter Published 9.07.2021
July Newsletter Published 9.07.2021
Our July Newsletter was sent out today – Did you receive yours?
July 2021 Issue Covered
- Avoid Common Mistakes in your Business Return, and include appropriate income
– WHAT TO INCLUDE IN YOUR BUSINESS’S ASSESSABLE INCOME
– CASH INCOME
– GOVERNMENT PAYMENTS
– COMMISSIONS, INVESTMENT EARNINGS, GRATUITIES, COMPENSATION PAYMENTS
– INCOME NOT PART OF […]
June Newsletter Published 9.06.2021
June Newsletter Published 9.06.2021
Our June Newsletter was sent out today – Did you receive yours?
June 2021 Issue Covered
- The Tax Treatment of Cryptocurrency
– CAPITAL GAINS TAX
– PERSONAL USE ASSET
– REVENUE ACCOUNT?
– TRADING STOCK?
– FOREIGN CURRENCY GAINS OR LOSSES?
– RECORD KEEPING - New Guidance on “Personal Services Income” Rules
– WHY THE PSI LURE?
– […]
Assistance for Victorian Businesses – Victorian Government Grant
Assistance for Victorian Businesses – Victorian Government Grant
The Victorian Government has launched a new round of grants for eligible small to medium businesses, including employing and non-employing businesses impacted by the recent restrictions in Victoria.
Please note the industries eligible for the Grant are very narrowly defined and the business must have been GST […]
Superannuation Changes 1 July 2021
Superannuation Changes 1 July 2021
Superannuation Guarantee
The superannuation guarantee rate will increase to 10% on 1 July 2021. Payroll software should provide updates to ensure your payroll obligations reflect the new rate. Further increases are scheduled for future years as detailed below with an eventual increase to 12%.
| Period | General Super Guarantee (%) |
|---|---|
| 1 July 2021 – […] |