2021 Nov 02 By erataxsolutions 0 comment

Director Identification Number (DIN) In the words of British poet John Masefield’s poem, Sea Fever, ‘And all I ask is a tall ship and a star to steer her by;’ we find is not too dissimilar to a director steering their corporate ship on a successful business journey. However, back in 1916, when Masefield’s poetic works were in a much simpler world, we find that today there are still more new rules and regulations pertaining to directors, this time relating to their identity. This new director identity situation applies to all company directors, registered Australian bodies, a registered foreign company…

2021 Oct 13 By erataxsolutions 0 comment

If someone had mentioned the word ‘uber’ to you over ten years ago, then, unless you were German, you would wonder what they were talking about. This German word means ‘over’ and is now a well-established business throughout a good part of the world. Uber set out as a share driving system with the passengers sharing the journey’s price to pay a private driver. The business itself started in San Francisco in March 2009 and is how we associate with it today. The Uber business is in direct competition with the taxicab industry. The taxi was fitted with a taximeter…

2021 Aug 20 By erataxsolutions 0 comment

A government incentive for businesses considering employing young job seekers may be available to you. If your business is considering hiring additional staff, you may be eligible for the JobMaker Hiring Credit. This scheme runs from 7 October 2020 to 6 October 2021. The maximum claim period is for 12 months from the employment start date for each newly created job. The incentive is designed for young people: Eligible additional employees aged 16 to 29: $200/week.Eligible additional employees aged 30 to 35: $100/week. The maximum amount is $10,400 for each newly created job. Still, it cannot exceed the amount the…

2021 Aug 18 By erataxsolutions 0 comment

An interesting play on words. Let us break this down: crypto is a word element and, in this case, a suffix added to another word to give an enhanced meaning. So, crypto comes from a Greek word meaning hidden. Currency, simply is a ‘current’ means of exchange. This now tells us that cryptocurrency is a hidden means of exchange that can be currently used. To its credit, though, the system offers tight security. As such, this raised alarm bells with banks and the Australian Taxation Office. Again, let us step back for a moment. Have you ever heard of the…

2021 Jul 24 By erataxsolutions 0 comment

Superannuation Guarantee Rate Increase – What does this mean? From 1 July 2021, the Federal Government has legislated that the Superannuation Guarantee (SG) rate be increased from 9.5% to 10% of your wage or salary. Basically, this means your employer must contribute, on your behalf, to your nominated complying superannuation fund, as a minimum, this new percentage based, on your ordinary time earnings. Such contributions help to fund your retirement. However, this may not sound as rosy as it is intended. Depending on your employment contract, it may mean your take-home pay has decreased because your superannuation has increased. For…

2020 Oct 19 By erataxsolutions 0 comment

JobKeeper Payments Extended The JobKeeper payments have been extended; starting from 28 September 2020 to 28 March 2021 for those businesses that meet the eligibility requirements. This extension has been broken down into two parts: JobKeeper extension 1:  runs from 28 September 2020 to 3 January 2021. To be eligible, your business must compare your September 2020 quarter turnover with the September 2019 quarter’s turnover. This criterion is required for those who are enrolling for the first time. However, you will also have to satisfy the original decline in the turnover test as well. If you were entitled to receive…

2020 Sep 08 By erataxsolutions 0 comment

Having difficulty coming to see us in person to lodge your tax return? No problem! We at ERA Tax can complete your tax return online for you; this means you do not have to come in.   In the words of that famous author, Mark Twain: ‘The secret of getting ahead is getting started.’   So, please text on 0499250120 or contact online  for more details as to how we can achieve the lodgement of your tax return without you leaving home.

2020 Sep 08 By erataxsolutions 0 comment

COVID-19 Stimulus Measures by the Government JobSeeker To apply for JobSeeker assistance, you must be: Between the ages of 22 and Pension Age. You must be a resident per the ATO rules. Your income and assets are below the test limits. In addition to all three of those requirements, you must also be either: Unemployed and looking for work or You are sick or injured and are unable to perform your normal work duties or study for what is referred to as a short time. You will need a medical certificate in this instance. However, if as a result of…