Dates to Remember
31st March 2022 – Fringe Benefit Tax end of year. Remember to take your odometer reading.
25th April 2022 – Anzac Day
28th April 2022 – Superannuation Guarantee contributions for March quarter due
21st May 2022 – FBT returns due
12th May 2022 – March 2022 BAS due if ELS lodged with C&R
30th June 2022 – End of Financial year
Interest Rates that start from…
1.96% p/a Fixed Rate
1.98% p/a Comparison Rate
Based on our lender panel, BetterChoice’s Variable Rate, provides the most competitive Interest Rate. Interest rates are correct as at 11/03/2022 and subject to change at anytime. The comparison rate is based on a loan amount of $250,000, over a 30 year term. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees and other loan amounts might result in a different comparison rate. Terms, conditions, fees and charges apply and your full financial situation would need to be reviewed prior to acceptance of any offer or product.
We are sad to see Deborah leave our team, however are excited to welcome a new face, Shannon into our Bookkeeping team.
If you're not sure if buying is the right option, take a look at this quick video...
Have you been putting off preparing or updating your Wills & Enduring Power of Attorney (EPOA)?
It is not always a subject that people feel comfortable discussing or even thinking about, but what happens if you died yesterday or you were incapacitated and unable to make decisions for yourself, and things were not in order?
Time goes by so quickly and life events change around you. One minute you are single, then married with kids, grandchildren or you have a new partner. You may want to ensure your Estate goes to the right people and stays with them.
Having a EPOA or an updated Will would give you peace of mind knowing that your affairs are in order should the unexpected happen and your estate will be managed and flow as per your wishes.
I must say that I have been busy in this space during the COVID period helping clients with their Wills and EPOA’s, I guess that during these difficult times they think about their family, and they want peace of mind that they will be looked after. Also, during the pandemic, I committed to getting fully qualified and accredited with SAPEPAA which stands for Succession, Asset Protection and Estate Planning Advisors Association which was founded by solicitors at Abbott & Mourly.
The reason I have pursued this additional qualification and accreditation is that there is an increasing problem in Australia and around the world where people have not managed their Succession, Asset Protection and Estate Plans. In Australia alone, 50% of the adult population don’t have Wills. It is disturbing to know that if you die without a Will (intestate) it will take longer to administer the Estate and potentially incur additional costs, thus eroding at the Estate.
With the wealth of knowledge and experience that comes from being a member of the association we can ensure that this will not apply to you. We can save our clients time and money and ensure that their Estate flows to the right people efficiently, effectively, and how they wished. Many of our clients have already taken the path to fix this problem and given themselves peace of mind that their affairs are in order.
There is still however much to be done in this area, and we have therefore created a whole new division within the Concepts & Results Group to work with our clients in this area.
I am proud to announce our new Succession, Asset Protection and Estate Planning Advice Service is officially open and available to all clients. I am committed to ensuring that all our clients have access to this service and the best way to do this is to let you know how this service can help you.
I have put together 2 short video’s that I’d like you to watch; The first is an introduction to SAPEPAA. Click link to watch video: https://www.youtube.com/watch?v=0wBK3olvnzs
The second is why and when you should get a Will done. Click link to watch the video: https://youtu.be/Jir8B-qp-Nw
So, if you wish to address your Estate Plan now all you need to do is email your contact details to firstname.lastname@example.org with the subject line “Yes, I want to get my Wills and EPOA’s Done” and we will contact you to discuss the process.
Or you can simply call our office on 9569 5676 to schedule an appointment with Phillip Scandizzo or email my Estate Planning assistant Bethany at email@example.com
Important information for company directors
As a company director, under new legislation, you are now required to obtain a director identification number (director ID).
A director ID is a unique identifier that you keep forever. It’s free to apply and you only need to apply once.
If you are a company director appointed prior to 1 November 2021, you must obtain your director ID by 30 November 2022. New directors should apply before they are appointed.
What you need to do:
The fastest way to get a director ID is to apply online using the myGovID app. If you can’t get a myGovID, the best way to apply for
a director ID will depend on your situation.
Find out how you can apply for a director ID on our website at abrs.gov.au/DirectorID
You must apply for a director ID yourself. No one can apply for you. The reason for this is you need to prove your identity when you apply. Penalties may be applicable if you don’t apply for a director ID. The ABRS (Australian Business Registry Services) will consider the circumstances of those that don’t apply on time when deciding what action to take.
What happens next:
Once you have your director ID, keep it safe until you need to use it. It can be shared with your accountant, company secretary, ASIC registered agent or tax professional.
You don’t need to provide your director ID to ASIC. When the ASIC companies register is transitioned to ABRS in the future, your director ID will need to be linked to the companies that you are a director of.
How director ID will help honest businesses:
Director ID is the first service delivered by the new ABRS and will help to:
- prevent the use of false and fraudulent director identities
- make it easier for external administrators and regulators to trace directors’ relationships with companies over time
- identify and eliminate director involvement in unlawful activity
For more information about ABRS and director ID, visit abrs.gov.au/about
If you are not sure if you need a director ID, call our office or email firstname.lastname@example.org.
612 Warrigal Road, East Malvern PO Box 61, Holmesglen, Vic 3148
(03) 9569 5676