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All We Want for Xmas is a Good Vaccine

jobkeeper 2.0

Christmas Affinitas Accounting

All We Want for Xmas is a Good Vaccine

After a year like no other, 2020 Christmas wish lists are likely to include a lot of non-material requests for Santa to fulfill.

The usual wish-list of bright shiny new things could be replaced by hopes for:

 

  • an effective COVID-19 vaccine,
  • a safe environment for my friends and family,
  • the opportunity for every person to use their abilities and make a genuine contribution to the greater good, and
  • a return to the days when leadership was about the capacity to bring people together and push forward rather than conquer and divide.

 

This Christmas list is reflective of 2020 – the year has taught us resilience and patience.

We have all had a stark reminder of what is really important in life. We have learned some painful lessons that life is not always a constant, consistent path.

Maybe the takeout from 2020 is to approach life like an optimist, but plan like a pessimist – personally and professionally.

Planning like a pessimist does not mean succumbing to disaster, but rather the opposite. Planning like a pessimist is about always making sure you have capital, capacity and personal reserves to get through an unexpected shock.

 So, here is to a fresh start with renewed energy and vigour in 2021. Stay safe, stay well and we will look forward to working with you again in the New Year to make the most of the opportunities available to you on your pathway.

To read more about some of the opportunities and challenges for 2021, click on the following link:

 2021 – Risks & Opportunities Emerging From 2020

 

Office closure

Our office will be closed for Christmas from 5pm Tuesday, 22 December and will reopen from 8am on Wednesday 6 January 2021.

Meanwhile, a few reminders about things you might wish to attend to before you start your Christmas break.

 

Extended dates for December JobKeeper figures

The ATO has extended the JobKeeper monthly business declaration deadline for the month of December until 28 January 2021 (from 14 Jan 2021).  This applies to the JobKeeper fortnights ending on 6 December 2020 and 20 December 2020.

 The deadline for meeting the minimum wage condition for the JobKeeper fortnight ending on 3 January 2021 has been extended to Monday, 4 January 2021.

 NB: Remember, even if you have not qualified for JobKeeper in the past, you may still be able to qualify based on your latest business results.

 

First JobMaker Deadlines Looms

Currently, 6 January 2021 is the final day of the first JobMaker Hiring Credit period and the deadline for enrolling in the scheme to access payments for this period.

 While the ATO has the ability to extend this deadline, there has not been any advice on this to date. Enrolments are not open as yet, but because of the tight turnaround times, if your business would like to access JobMaker for the first period, it will be important to assess eligibility.

NB: If you think there is any chance whatsoever that you might qualify for JobMaker, make sure to register online for the scheme by 6 January 2021. There are no penalties if you register, but do not end up using the scheme.

 Also, it is worth noting that Federal Government incentives generally do not overlap.

 That is, your business cannot receive incentives for BOTH JobKeeper and JobMaker, or  BOTH JobMaker and an apprenticeship subsidy.

 

Last Chance to Access: COVID-19 Early Access to Super

For anyone still considering accessing superannuation early under the COVID-19 early access measures, 31 December 2020 is the last day you can apply. Those wanting to access their superannuation pre-Christmas needed to have completed the application by 11 December 2020.

 The ability to access up to $10,000 of your super is available to those that have been made redundant, have had their working hours reduced by more than 20%, and have been adversely financially impacted by COVID-19.

 If you are not in financial hardship you should not access your superannuation. The application process through myGov is a self-assessment process that you are responsible for. Penalties of up to $12,000 may apply for providing false or misleading information.

 Source; Knowledge Shop Newsletter Dec 2020. NB: The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.


Affinitas Accounting offers all your financial needs under the one roof

 

Contact Us If you Need Help

For help with tax debt payment plans and JobKeeper, contact 07 3359 5244 or email

Office closure

Our office will be closed for Christmas from 5 pm Tuesday, 22 December and will reopen from 8 am on Wednesday 6 January 2021.

Need friendly advice? Talk to our staff today about how we can help your business succeed.

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  • I’ve been dealing with Affinitas Accounting for about 3 years now and I have found them to be nothing but friendly and helpful. I’m a Bookkeeper and on occasions have been stuck with various accounting problems. Affinitas have not hesitated to spend time with me until the problem was solved. Any queries or questions have always been answered in a timely manner.

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  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Rebecca & Russel Johns

    Since moving to Affinitas Accounting we have a clear understanding of companies and trusts. We have no hesitation in saying the team here will meet and then exceed your expectations! I never feel like i am annoying them. Thank you Team Affinitas

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Paul Maclaine

    Affinitas has looked after all our financial needs for our business and personal tax returns. We have been with our accountant for 10+ years. I have no hesitation in recommending Affinitas to anyone looking for an accountant or any financial advise. We have always found and received friendly professional and practical advise.

  • For the past 6 years, Tammy has been lodging our tax. The team always spend the time to explain how things will affect us and always manage to maximise our returns. We highly recommend the team to anyone we speak to and have had friends move to do their future tax with the team at affinities accounting. Couldn’t recommend them highly enough.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Kirsty Whittaker

    I’ve been using Deb from Affinitas Accounting now for many years and have found her to be excellent in looking after my taxation needs. I’m in Tasmania, Affinitas Accounting is in Queensland and distance is no barrier. She understands my business needs, everything is done in a friendly and efficient manner and I happily recommend to anyone looking for ‘down to earth’ taxation advice.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    David Williams

    We’ve been with Affinitas Accounting for over 5yrs when they were known as Online Accounting & Taxation Solutions. From our initial phone call with Brad looking for an accounting team that would meet our expectations as well as provide efficient service, we’ve been really impressed with the team’s professionalism, knowledge & expertise.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Allyson O'Connell

    Debbie is our accountant and has been for seven years. She is thorough and always does what she can to honestly get us the best return but always adheres to the ATO guidelines. We recommend her to our friends and wouldn’t take our business to anyone else. Thanks Debbie.

  • We have only been with Affinitas Accounting for the past 12 months but in this time they have by far exceeded our expectations of an accountant and far surpassed previously used accountants.
    Affinitas are not just about annual returns, BAS statements etc, they take the time to get to know you enabling them to provide advise to help you work toward personal & business goals.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Mark D’Andrea

    Can’t fault Affinitas.

    Have been coming here for years (when it was then called online tax). Deb has been happy to always go the extra mile and doesn’t mind dispensing helpful advice throughout the year.

  • Tax Accountant & Financial Advisor Brisbane - Affinitas Accounting
    Deagon Fixing

    I have been a client of Affinitas Accounting (previously Online) for the past 8 years. It is like a one stop shopping experience, all my needs were addressed in the one office.

    Thanks Affinitas you for all your assistance and I would strongly recommend them to anyone to use

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