Do you have a McGov account?
Did you know that your Income Tax Notice of Assessments is available and can be accessed via this account?
https://my.gov.au/
Your myGov account gives you:
• Secure access to a range of government services using one username and password
• A single inbox for your messages from Centrelink, Medicare, Child Support and the Australian Taxation Office.
• A quick and easy way to advise selected member services about changes to some of your personal details.
Our financial planning team are sending out the renewal packages for our Black, Blue and White Belt Financial Service Packages.
Reminder that if you want to take up the Early Bird Discount offer you need to return your signed Authority to Proceed and pay your Interpac invoice before the date advised.
If you did not receive a renewal package and you think you should have, please call Beth or Kelly on 9569 5676.
Annual Review Fee $276
Annual Review Fee for Special Purpose Company (SMSF Trustee) $56
Late Lodgement penalties
For up to 1 month after prescribed time $83
For more than 1 month after prescribed time $344.
Concepts & Results Group are please to welcome two new staff to the C&R Team.
Mey will be working as one of our senior accountants & Ravneet will be working as part of our Bookkeeping team.
Source: ASIC InFocus April 2021 Edition
One of the most common questions asked is ‘what do officeholders need to do before closing their company?’ To keep it simple, here are the three key things:
1. Ensure your company has no ASIC fees outstanding
If your company has any ASIC fees outstanding, they will automatically reject your deregistration application.
2. Ensure your company meets all the criteria for deregistration
Your company must also meet the deregistration criteria which includes, all members agreeing to deregister and the company’s assets totalling less than $1000.
3. Apply for deregistration at least two weeks before your annual review fee due date
Finally, you should apply for deregistration at least two weeks before your annual review date. If you don’t, your annual review fee will be charged and you’ll need to pay it before the company can be deregistered.
If you are planning to deregister your company, we suggest speaking to our office to ensure that the company is no longer required, has no outstanding ASIC fees and meets all the criteria for deregistration.
Interest Rates that start from…
1.84% p/a Fixed Rate
3.19% p/a Comparison Rate
Based on our lender panel, Bank of Melbourne’s 2 Fixed Year Advantage Package Rate, provides the most competitive Interest Rate. Interest Rates are correct as at 24/05/2021 and subject to change at anytime. The comparison rate is based on a loan amount of $250,000, over a 30 year term.
30 June 2021 – end of financial year
14 July 2021 – STP EOFY finalisation declarations declarations lodged for employers
14 July 2021 – PAYG payment summaries to be issued to employees
28 July 2021 – SGC rate increases to 10.0%
28 July 2021 – Superannuation Guarantee (SG) for 1 April to 30 June payment due date
14 August 2021 – PAYG Annual Payment Summary to be lodged with ATO
28 August 2021 – All Superannuation contributions for the 2020/2021 year to be paid
28 August 2021 – Building & Construction TPAR due
30 September 2021 – STP – EOFY finalisation declarations lodged for businesses with only closely held related employees
23 October 2021 – Workcover rateable remuneration forms lodged if remuneration was more than $200,000
26 March 2022 – Workcover rateable remuneration forms lodged if remuneration was less than $200,000
Source: ASIC InFocus April 2021 Edition
Scammers have been contacting ASIC customers asking for payment to renew business names or companies. The emails often link to fake ASIC invoices that have incorrect payment details or infect your computer with malware when you click on them.
An email may not be from ASIC if it asks you:
For a business name, ASIC will issue a renewal notice 30 days before your renewal date. For a company, ASIC will issue your annual statement within a few days of your review date. If it’s outside their usual timeframe, it might be a scam.
To help protect yourself:
If you’re unsure if an email received from ASIC, the ATO or Concepts & Results is legitimate, please contact our office on 9569 5676 and we can confirm if it is legitimate.
Want to discuss the above face to face? Come visit our specialised team members to find out more.
612 Warrigal Road, East Malvern PO Box 61, Holmesglen, Vic 3148
Have any questions? Further discussions on the above can be may be held over a telephone appointment.
(03) 9569 5676
For any and all queries regarding the above, you may contact Concepts & Reuslts by emailing us
concepts@cr.com.au