NAGAM HAMAD

12/12/2024

Now is not the time to be complacent about your cyber security. The holiday season is the perfect time for cyber criminals to attack your practice – they will look for vulnerabilities in your computer software to gain unauthorised access to your computer and steal yours and your clients’ information. Prevent this from happening by installing software updates as they become available. This limits the amount of time cyber criminals have to find and exploit any weaknesses. Find out more ways to protect your practice now: https://ow.ly/H2Ik50Umc7G

12/12/2024

If you work for a tax practice and this entity hasn’t met their personal tax obligations, will this affect your personal registration? What should you do if you receive a compliance letter from us advising your personal tax obligations aren’t up to date? How do you know if a fellow director or partner, not a tax practitioner, is compliant with their personal tax affairs? These are some of the questions we answered during our ‘Personal tax obligations’ webinar. Find out the answers to these and more: https://ow.ly/Qi8B50UgnVx

30/07/2024

14/12/2023

Good afternoon from South West Sydney Tourism Taskforce Inc NSW 😃
Thank you Doltone House Western Sydney for your hospitality 👏
Canterbury Bankstown Chamber of Commerce - CBCC Charishma Kaliyanda
HEYYA TV Rydges Bankstown The William Inglis Hotel Western Sydney International Airport Destination NSW Intaus Group Holiday Inn Warwick Farm

14/12/2023

We’ve terminated the registration of a tax agent and imposed a maximum ban of 5 years from reapplying for registration. The tax agent failed to lodge multiple income tax returns and business activity statements for multiple clients and didn’t even advise one of their clients that they were being audited by the Australian Taxation Office! Find out what else they did: https://ow.ly/feyJ50Q8baP

21/11/2023

A trading disruption in the wake of a disaster could see an otherwise solid business become insolvent if it can’t pay its debts on time. Find out how you can help prevent this with our guide to creating a Business Continuity Plan https://bit.ly/3EWzPEe

21/11/2023

School Infrastructure are looking for contract services such as pest control, landscapers, plumbers, glaziers and more. Could you please have the attached flyer uploaded onto facebook or social media accounts in the hope that more family businesses see the opportunity to join our facilities maintenance contract.

Our next industry briefing event for the Facilities Maintenance contract is a joint venture with North Sydney, Sydney, Western Sydney and South Western Sydney AMU teams.

Where: Chullora Warehouse
When: Wednesday 22 November
Time – 8.30am – 10.30am.
Click here to register your interest https://forms.office.com/pages/responsepage.aspx?id=Sbyt7gwfCU-dG7GcOwuGnj746tnrnYRJmSppWyzB4QFUMlNWT0lEMU03OVVUOTJaVlhINUdaSVhYTi4u

06/09/2023

The Hejaz Income Fund has the Best Islamic Income Fund Performance in Australia for FY2023, achieving an outstanding net return of 7.22%.

This remarkable accomplishment not only reflects our commitment to excellence but also underscores our dedication to Islamic principles in finance.

04/09/2023

Women's Health Week 2023 starts today! 🎉

From 4 – 8 September, grow your knowledge across various health and wellbeing topics from hormones and menopause, to heart health and nutrition. ❤️

Find an event near you and get involved: https://www.jeanhailes.org.au/womens-health-week/attend-an-event

Women's Health Week is an initiative of Jean Hailes for Women's Health.

31/08/2023

We’ve seen a bit of confusion around the Medicare levy and the Medicare levy surcharge.

Do you know the difference between them? 🤔

👉 Almost everybody will pay the Medicare levy, it’s 2% of your taxable income and it helps to fund Australia’s public health system.

In addition to the Medicare levy there is the Medicare levy surcharge (MLS). We know, nearly the exact same name 😅.

If you and your family did not have appropriate private health cover for the full 2022-23 income year, the Medicare levy SURCHARGE would have kicked in if you were a:

👉 single person earning above $90,000 a year, or
👉 couple or family earning above 180,000 a year.

You only need to pay the surcharge for the part of the year you and your family did not have appropriate private health insurance cover.

For more information, visit www.ato.gov.au/mls

31/08/2023

29/08/2023

Every day the higher price of seemingly everything is mentioned in the news or in conversations with friends and acquaintances. The impact is clear as we are required to pay more for most things from our weekly shop and power bills, to filling the car and swimming lessons. So what is the cost of

29/08/2023

Stay inside the lines when it comes to your car expenses.

If you use your own vehicle for specific work-related travel, you may be able to claim a deduction this tax time. Consider if you:

🚗 Travel between clients
🚗 Drive directly from one job to another
🚗 Transport bulky equipment.

Tip: Whether you use the cents per kilometre or logbook method, make sure you know what records you need to keep!

28/08/2023

24/08/2023

Protecting your personal information doesn’t have to be rocket science 🚀

Here are our top tips for this tax time:

1. Store personal information such as your TFN and PIN codes securely, not on your mobile phone
2. Be aware of what you share, including your tax assessment amount, on social media
3. Protect your computer and phone by installing software updates
4. If you’re using a tax agent, check they’re registered.

23/08/2023

Three co-accused have received combined sentences of 44 years for their role in a $105 million tax fraud.

They thought they could outsmart the system for their own financial gain. They were wrong.

Operation Elbrus has been an ongoing investigation for the ATO-led Serious Financial Crime Taskforce, and these latest outcomes demonstrate that the SFCT brings financial criminals to account. Read more here: www.ato.gov.au/Media-centre/Media-releases/Operation-Elbrus--Trio-jailed-over-tax-fraud/

21/08/2023

The Matildas’ magical World Cup run is set to be 𝐢𝐦𝐦𝐨𝐫𝐭𝐚𝐥𝐢𝐬𝐞𝐝 with a mural at Stadium Australia! 🇦🇺🔥❤️

The NSW Government have commissioned an artwork to adorn the entrance to the stadium where the Matildas made history 🖼️

17/08/2023

💸 Did you know that Australians lost a record $3.1 billion to scams in 2022?*

‘Protect Yourself From Scams’ is a free online workshop from Dress for Success Sydney that will give you the tools you need to:

🔒 Protect your personal information from in-person, text-based, and online scams.
🔒 Seek help if you need it.
⏰ Thursday 24 August, 12:00pm to 12:45pm

The workshop will be facilitated by Tara Newbey, Westpac Bank Manager.

Visit the link to register your details to become a Dress for Success Career Hub member and then check out the calendar of workshops on the page: https://lnkd.in/gVhnZcj8

*'Targeting scams 2022' report.

16/08/2023

Be ware....

14/08/2023

Private health insurance is under review, with proposals to overhaul everything from rebates to tax penalty rules. One proposal is for higher-income earners who don’t have private health insurance to pay a larger Medicare Levy Surcharge – an increase from 1. 25% or 1. 5%, to 2%. And if they

11/08/2023

Join us for an insightful lunchtime session delivering a disability checklist and empowering businesses to foster inclusivity.

10/08/2023

Thanks a lot to everyone visited ,liked and followed our page

Appreciate if you recommend us to others☺️

09/08/2023

Fun fact:

Over 100 countries end their financial years in December. But don’t forget, you still need to include any foreign income you received in your Australian tax return.

Do you earn income from overseas? 🌏

There are a few things to remember when declaring your foreign income:
✔️ Calculate your overseas earnings to our financial year
✔️ Check eligibility to claim a foreign income tax offset if you’ve already paid tax in another country
✔️ Convert your income into Australian dollars.

09/08/2023

The sharing economy connects buyers and sellers through a facilitator that usually operates an app or a website. If you earn extra money from sharing goods and services in this way,watch our short video to find out more. For detailed information on the sharing economy, visit https://ato.gov.au/shari...

07/08/2023

ATO: Taxable payments annual report (TPAR)
Businesses and government entities who make payments to contractors may need to report these payments and lodge a Taxable payments annual report (TPAR).

Contractors can include subcontractors, consultants and independent contractors. They can operate as sole traders (individuals), companies, partnerships or trusts.

A TPAR must be lodged by 28 August each year.

01/08/2023

Sandra Andrews was told that she wasn’t allowed to wear pants – a partner didn’t like the way they looked on women. Now she runs her own practice.

31/07/2023

From 1 August, employees in small businesses (with fewer than 15 employees) can access 10 days of paid family and domestic violence leave in a 12-month period. This means that all employees in the Fair Work system will have access to this entitlement under the National Employment Standards.

Find out more about the changes to paid family and domestic violence leave: bit.ly/3O8LJiM

31/07/2023

Australia’s AML/CTF regime is tightening, and accountants should be alert to red flags including large cash, offshore and cryptocurrency transactions.

30/07/2023

[AU] As a business owner, are you aware of the latest regulatory developments in employment law? 👷

You should understand your legal requirements, or you could face significant penalties.

Read our free 2023 Key Employment Developments Factsheet to learn about the changes you should be aware of. Download it today: https://lglv.sn/3PXWvuN

29/07/2023

ATO : Why your tax return outcome may change in 2023

The outcome of your 2023 tax return may be different than in previous income years. You may have a lower refund or you may receive a tax bill.

Your tax return outcome may change for any of the following reasons:

A tax offset you received previously is no longer available or you are no longer eligible for an offset – for example, the low and middle income tax offset ended on 30 June 2022.
Your credit or refund has been offset against another debt – including debts on hold with us or debts you have with other government agencies.
Your income or deductions for the income year are different from previous income years.
We find a difference between the details in your tax return and the information we receive through pre-fill data or our data matching program.
You have not advised your payer of your study or training support loan and your income is above the minimum repayment threshold and you have a compulsory repayment amount.
Some debts will not be applied to your tax return until after it is lodged. This means your tax estimate in myTax or from your registered tax agent may not match your final tax outcome.

If you believe you will get a tax bill, it’s still important to lodge your tax return on time even if you can’t pay immediately.

To understand why you owe tax, see : why you may receive a tax bill.

28/07/2023

ATO: Receiving cash for work you do
If you're paid in cash, check you are getting the correct amounts and that your employer is paying super.
What you need to do
Declare your tips

What you need to do
Your employer may pay your wages to you in cash (or with a cash cheque), rather than into your bank account. Paying wages in cash is legal and may be more convenient.
Some businesses deliberately use cash transactions (for example, pay their employees 'cash-in-hand') to avoid meeting their tax and employee responsibilities.
If your employer is paying you cash, you:
must declare the cash as income when you lodge your tax return
should still receive a payslip showing all your earnings and the amount of tax your employer takes out (withholds)
should receive an income statement at the end of the income year that shows your full earnings and the amount of tax your employer takes out
should check your employer is making super contributions
should check your employer is paying (at least) the correct award wages – refer to Fair Work OmbudsmanExternal Link
should check your employer is taking tax out of your pay – this helps to make sure you don't end up with a large tax bill
should check your employer's workers compensation insurance covers you in case of an accident.

Use our:
Tax withheld calculators to help you work out if your employer is taking enough tax from your pay.
Am I entitled to super? tool to work out if you should get super contributions.

Declare your tips
Cash tips are income, regardless of how you receive them. It makes no difference if tips come from your employer or direct from customers.
You may share tips between employees that come from a collection by all workers (like in a tip jar).
If you receive cash tips, you must declare them in your tax return at Allowances, earnings, tips, directors fees etc.

27/07/2023

ATO : Inactive ABNs reviewed
We regularly review Australian business numbers (ABN) to identify inactive ABNs for cancellation. We may select your client’s ABN for review if they haven’t reported business income in their tax return, and there are no other signs of business activity in their lodgments or third-party information.

We’ll contact you or your client in writing if your client’s ABN is at risk of being cancelled. If your client is:

carrying on a business – use the automated phone system to tell us they still require their ABN. It's easy to use and available 24/7. This is the fastest way to respond, other methods of contacting us may not be received in time and can result in the ABN being cancelled.
no longer in business – you don’t need to do anything. We’ll cancel the ABN.

26/07/2023

26/07/2023

الحلقة 12 – اقتصاد الظل وتأثيره على المجتمعتتعلق هذه الحلقة باقتصاد الظل؛ ماذا يتضمن، تأثيره على المجتمع الأسترالي، وكيف يمكنك المساعدة. يشير "اقتصاد الظل" إلى...

25/07/2023

In this presentation Beyond Blue will share insights about the mental health impacts of the current economic challenges. Practical advice will also be provid...

25/07/2023

🛠️ The new toolbox?
🚗 Your car trips between sites?
🦺 Protective gloves and steel-capped boots?

Work in Building and Construction and not sure what to claim this Tax Time? 👇