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2021 Christmas Closure

We take this opportunity to thank all our clientele, both loyal and new, for your support throughout 2021.  

What a trying year it has been!  Our DTW team has paddled hard along with you all and we are sure everyone is wishing for smoother sailing in 2022!  

 


  We wish you a very Merry Christmas and a safe and Happy New Year!

 

Our office will close 5.00pm Thursday 23 December 2021 and re-open 9:00am Tuesday 4 January 2022.


 

 

 

New Director ID Requirements

Your Director ID

All Directors are now required to register for a unique identification number they will keep for life.  

Please read further to see what you need to do:  Your Director ID

Timeframes for registration for Corporations Act Directors

Date you become a director

Date you must apply

On or before 31 October 2021

By 30 November 2022

Between 1 November 2021 and 4 April 2022

Within 28 days of appointment

From 5 April 2022

Before appointment


COVID-19 LOCKDOWN

Please be advised that due to COVID-19 lockdown restrictions in the Greater Hunter area, our office will be closed from 5pm Thursday 5th August 2021 and will re-open in accordance with NSW Health advice.

We thank you for your business and apologise for any inconvenience caused during this time.

If you are affected by Coronavirus we urge you to seek immediate medical assistance.  Further information can be obtained by contacting:

Visit the following sites for information on caring for mental health:

Stay home, stay safe and stay well.  We'll be happy to see you all on the other side.

 

Updated COVID 19 Support Measures Available


If you or your business have been affected by the current lockdown in NSW or Victoria please see the attached guides to determine if any of the new government assistance measures are available to you.  

 What lock down support is available Individuals (updated 29 July 2021)

 What lock down support is available to business in NSW (updated 29 July 2021)

 What lock down support is available in VIC (updated 29 July 2021)

For further details on eligibility please refer to either Services Australia or Service NSW COVID Business Grant Guidelines

If you require our assistance we are here to help, please call 02 65432766 or email admin@dtwservices.com.au for further details.


New COVID-19 Assistance Available

What lockdown support is available to you?

If you or your business have been affected by the current lockdown in NSW or Victoria please see the attached guides to determine if any of the new government assistance measures are available to you.  

 What lock down support is available Individuals (updated 20 July 2021)

 What lock down support is available to business in NSW (updated 20 July 2021)

 What lock down support is available in VIC (updated 20 July 2021)

For further details on eligibility please refer to either Services Australia or Service NSW COVID Business Grant Guidelines

If you require our assistance we are here to help, please call 02 65432766 or email admin@dtwservices.com.au for further details.

JobMaker and other Business Assistance Measures

There have been a raft of different measures introduced to assist business to not just survive, but grow in these unusual times.  Our business and tax update cover a few of the most recent announcements made.

  • JobMaker - what we know to now about how you can access money for new employees.
  • Instant Asset Deductions -the 2020-21 Budget delivered a range of incentives for business to invest. If you would like us to review your position and the tax impact of any investments you are contemplating, please call us and we can assist you to get the best possible outcome.
  • Refunds for Tax Losses - claiming current year losses against prior year profits... are you eligible for a refund?

Read more here and as always please get in touch if you would like to discuss anything further, we are here to help.

 Business and Tax Update November 2020

 

JobKeeper v2 - What you need to know...

JobKeeper Version 2 - need to know more?  Please read our update and if you have any queries or need our help we are here to assist.

  Business and Tax Update October 2020

#tax2020

#tax2020 - at Davies, Thompson & Wright

Email: tax2020@dtwservices.com.au

Phone: 02 65 43 2766

Mail Us: PO Box 128 Muswellbrook


We know this year has been difficult.  Your 2020 tax return doesn't need to be. We'll do your 2020 tax return via email/phone/mail – no visit to our office required*.

*New clients must make a time to come into our Muswellbrook office and provide their identification.

3 Simple Steps - tax2020


Step 1

Update your Details


Step 2

Checklist & Info


Step 3

We Contact You

Phone or email our office & update your personal details:
address, phone, email, refund bank details.

 

Read our checklist.

When your tax info is ready (check your myGov) ** 

send your extra information to tax2020@dtwservices.com.au

Email, mail or drop it in so we can start work on your tax return.


 

Our tax specialists will then be in touch, by phone, to go through your return.

We'll send it out for you to review and sign before we lodge.


 tax2020 Checklist for Individuals

Use our tax2020 Individual Tax Return Checklist to determine the extra information we may need to complete your tax return. We will access your information direct from the ATO, however this is not always complete and up-to-date (especially in July and August).  So it's always best to send us your original documents to cross-check with.


2020 What's New

NO PAPER COPY of Your PAYG Payment Summary (Employer Group Certificates):

Most employers report your wages information directly to the ATO - by the end of July 2020 via Single Touch Payroll (STP), so your employer is not obliged to give you an end-of-year payment summary.  When your end-of-year payment summary is finalised by your employer at the ATO it will be identified as 'Tax ready' in your myGov. 

**You should wait until it says 'Tax ready' before asking us to complete your return
The ATO should send a notification to your myGov inbox when all your income statements are 'Tax ready'.

 

NO PAPER COPY of Your Annual Health Fund Statement (NIB, BUPA, HCF etc):

Your health fund will automatically send your private health insurance policy info to the ATO in July 2020.

 

WORKING FROM HOME:

The ATO have a simplified COVID hourly rate method for home office expenses from 1/3/2020. You must keep a record of the number of hours you have worked from home.



Business & Tax Update - July 2020

Not surprisingly most of the stories in this month's edition are related to COVID-19 and it's financial impact.

  • Funding for the arts - the music and performing arts industries and their workers continue to be some of the hardest hit by COVID-19 restrictions.  Read more about what help is available to both individuals and organisations.
  • ATO's fraud warpath - not surprisingly, with so much government assistance available at the moment the ATO has commenced the weeding out of those who have fraudulently taken advantage of any of the Coronavirus Economic Response Package measures, including those  that have entered into schemes to gain access to the stimulus measures.  Do not worry though, if you have made a genuine mistake, the ATO has stated if you work with them, they will give you the support you need without needing to repay money or be penalised.
  • Minimum wage increases - 2020 wage increases will be rolled out rather than all commence on 1 July 2020.  Read more to see where your industry sits in the time line.
  • New flexible parental leave payment rules - more flexible arrangements commenced 1 July 2020, so if you're expecting a new addition you can read here how these might change how you return to work. 

 Business and Tax Update July 2020

HomeBuilder - Further COVID-19 Stimulus Measures

HomeBuilder - what is it and who is eligible? 

The Government has announced the $680m HomeBuilder grant.  Administered through State and Territory governments, grants of $25,000 are available to individual residential home builders and renovators.  There are some quirks to the grant for both individuals and the building and construction industry.  Please read our summary for a quick rundown:

 HomeBuilder 

Further information can be found here:

                                                

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