2019-2020 tax changes for employers and employees

Accounting tax 2019 2020

Posted by: TJL Accountants & Advisors | On: July 9, 2019

On 1 July, the minimum wage increased by 3% and penalty rates in a number of awards were adjusted. These changes could affect both permanent and casual employees. The introduction of Single Touch Payroll (STP) also means significant changes in the way income is reported and tax returns are lodged this year. We’ve summarised the….

The movement of interest rates

Interest rates RBA

Posted by: TJL Accountants & Advisors | On: July 9, 2019

Interest rates are on the move. TJL’s Senior Financial Planner Jason Lukjanenko has put together a brief explanation of the reasons why, and what we can expect in the near future. On the 2nd of July, the Reserve Bank of Australia met to cut interest rates again to record low levels. The official cash rate….

Protecting your business from the worst kind of debt

Cash flow business insurance

Posted by: TJL Accountants & Advisors | On: July 9, 2019

Starting a business is an exciting but stressful process, and keeping it afloat can be even more of a challenge. More than 60% of small businesses in Australia close within 3 years, and one of the most common struggles business owners face is cash flow. Shaun Davison from TJL Insurance has put together this short….

Minimum wage increases

Minimum wage workers

Posted by: TJL Accountants & Advisors | On: June 26, 2019

On Monday, the national minimum wage is increasing 3% to $19.49 per hour, or $740.80 per week. The increase applies from the first full pay period starting on or after 1 July 2019. There are also changes to penalty rates for all casual, part-time and full-time workers. Matthew Elmas, Editor at Smart Company, has written….

End of Financial Year Preparations

End of Financial year calculations

Posted by: TJL Accountants & Advisors | On: May 22, 2019

With the federal election and the 15th of May tax lodgement deadline behind us, now is the time for business owners to prepare for the End of Financial Year. Many of our business customers dread this time of year because of all the additional admin tasks and paperwork they need to fit into their already….

Business under-insurance

Business insurance carpenter onsite

Posted by: TJL Accountants & Advisors | On: May 22, 2019

There’s not many business owners who would be without insurance cover, but did you know that 1 in 10 Australian small businesses with insurance don’t have enough cover to protect themselves? Many Australian businesses are under-insured, which gives them a false sense of security and leaves them exposed to potential risks in case of an….

Protecting your superannuation package

Retirees on beach TJL

Posted by: TJL Accountants & Advisors | On: May 15, 2019

In February of this year, new legislation passed the Australian parliament with the purpose of strengthening the super system. The changes are in response to the Financial Services Royal Commission and its findings, and there are a few key changes worth noting as they are relevant for most people investing in super. Much of the….

Estate planning – a key part of financial planning

Financial planning estate TJL Taree Forster

Posted by: TJL Accountants & Advisors | On: May 2, 2019

The term ‘estate planning’ often conjures up images of vast property estates and expensive cars. However, estate planning is a fundamental component of financial planning. It deals with the control of your assets, and ensuring that after death they are distributed as you intended. Assets which you have direct ownership and control of – such….

New seminar series for businesses

Business seminar TJL Accounting tax Taree Forster Tuncurry

Posted by: TJL Accountants & Advisors | On: April 18, 2019

TJL are excited to announce that we are launching a new series of seminars for business owners and managers in 2019. These seminars will include presentations by TJL partners and guest speakers and will cover all the aspects of accounting, taxation, bookkeeping, business advisory and insurance that are key issues for businesses in 2019. Our….

TJL’s 2019 Budget summary

TJL Accounting Budget Taree Forster Tuncurry

Posted by: TJL Accountants & Advisors | On: April 5, 2019

The 2019 Budget was unique in that it could be considered the unofficial start of the 2019 Federal election campaign. The election is expected to be held in mid-May, and throughout the forthcoming campaign period we can expect more policy detail released by both parties. Below we have summarised the major elements of the government’s….

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