September 2021 Newsletter
- Support for Businesses in Regional Victoria
- ATO issues alert on rising investment schemes targeting super
- Ruling feared to cost businesses billions overturned at the ‘expense’ of casuals
- Adding a member to an SMSF: Pros and cons
- The tax trick that property investors need to get their renovation deductions in order
- Mortgage v super: Which should I prioritise?
Announcements:This month we celebrate the following staff anniversaries, Jenny 13 years and Nicole 7 years, congratulations!
Important ATO Dates
|August monthly activity statements||21/09/2021|
Exciting New Opportunity
It is with mixed emotions that we say farewell and good luck to Dee Schier. Dee has been working part time in our accounting team at Watts Price Accountants for just over 25 years. Dee is also a qualified fitness instructor who has been teaching various exercise classes in Murtoa part-time for quite some time now.
As part of her career change Dee, a Murtoa resident, will be providing various exercise classes out of Murtoa Neighbourhood House.
We wish Dee all the best!
Vic: Regional First Home Owner Grants
The Victorian State Revenue Office has issued a reminder that the $20,000 regional First Home Owner Grant (FHOG) ended on 30 June 2021. However, it also advised that for contracts entered into from that date, eligible persons can apply for the $10,000 FHOG instead.
Targeted assistance for childcare services during lockdown
The Federal Government will provide additional targeted support for child care providers impacted by extended COVID-19 lockdowns, through new fortnightly payments. Childcare services in Commonwealth-declared hotspots will be eligible for payments of 25% of their pre-lockdown revenue. Outside School Hours Care (OSHC) services will be eligible for payments of 40%. This will apply to services seven days after the hotspot is declared, where states have directed families to keep their kids at home. Where kids are still allowed to attend, the supports will kick in four weeks after the hotspot declaration.
NSW and Vic grants declared NANE
The Income Tax Assessment (Eligible State and Territory Covid-19 Economic Recovery Grant Programs) Declaration 2020 has been amended to declare grant programs administered by the States of NSW and Victoria as being “eligible programs” for the purposes of the grants being non-assessable, non-exempt income (NANE) under s 59-97 of the ITAA 1997.
Appointment Procedures Due to COVID
Our offices are closed in line with the most recent State Government COVID-19 lockdown announcement however we are still able to assist you despite the team working remotely at present!
We are able to provide phone and video appointments via Zoom. Those wanting a face to face appointment can register their interest and we will phone you to book an appointment once restrictions allow.
If you have any queries we can be contacted via:
Note: Both offices are equipped with mail slots so you can drop off paperwork at anytime.
All the best from the Watts Price Team!