Government Stimulus Measures to Combat Economic Effect of COVID-19

Federal Government Measures: The Government has released an updated stimulus package aimed at easing the cost of retaining staff during this difficult period. The features of the stimulus measures being taken by the Government are as follows: Relief for Small Businesses: Boosting Cash Flow for Employers: The main feature of the stimulus package is in the form of a credit payment made to the activity statement account of businesses with employees. This amount is equal to 100% of the PAYG…

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FBT Key Issues 2019/20

With the 2019/20 Fringe Benefits Tax (FBT) year end approaching on 31 March 2020, now is the time to take note of the updates and changes that have occurred. If your business provides any benefits to your employees or spouses (director’s included), this could create an FBT liability that needs to be addressed. A common example is motor vehicle benefits. The odometer reading must be taken on the 31 March 2020 Logbooks must be done per employee every 5 years…

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Hubdoc app is now Free with Xero

After their 2018 acquisition of Hubdoc, Xero has been focused on the ease of capturing your data/bills and receipts from clients and syncing the data into the Xero systems. From 18 March 2020 the Hubdoc software will be included in all Xero Starter, Standard, and Premium plans at no extra charge. When you use Hubdoc and Xero together, you can save time, scale your practice, and build stronger relationships with your small business clients. Xero acquiring Hubdoc creates a number…

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DFK Asia Pacific Leadership Conference 2019

A select group of our future leaders attended the DFK Asia-Pacific Leadership Conference held in Kuala Lumpur. Angie Karanikolopoulos found the conference was a great experience and a great opportunity to meet and build relationships with so many people from the Asia Pacific regions of the DFK International network. Daniel Shaw found the group’s immense experience and unique skill set contributed to fresh and innovative ideas to build on in the future and highlighted how different cultures do business.  With…

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Superannuation Guarantee Amnesty Re-introduced

The previously proposed Superannuation Guarantee (SG) Amnesty has been re-introduced into Parliament. Under the proposal, an employer will qualify if they disclose to the Australian Taxation Office (ATO) information which relates to their SG shortfall from 1 July 1992 – 1 January 2018, which was not previously disclosed. An employer has until 6 months after the bill receives Royal Assent to make disclosure to the ATO. Employers who are already being reviewed by the ATO for SG shortfall will be…

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Volunteering with RMHC

Our staff donned aprons and their test their culinary skills volunteering at the Ronald McDonald House Charity “Make a Meal”. The team enjoyed working together to prepare pizzas, salad, sides and dessert and serving pizzas to about 12 families staying at the Monash House. The families have arrived from all over Australia. Some families arrived unexpectedly or as emergencies in hospital with their children and no time to gather provisions. DFK Benjamin King staff spoke to some of the families…

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Single Touch Payroll (STP)

Single Touch Payroll is the new compulsory real time reporting system for your employees’ wages and salaries, commencing 01 July 2019. Under the STP system your payroll process is required to be electronically sent to the ATO, whether it is completed weekly, fortnightly or monthly. Employers with less than 4 employees will have lodgement concessions available. We are happy to assist with this new process so please contact your DFKBKM representative to discuss STP on 9804 0411. The new Single Touch…

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2019-2020 Federal Budget

The 2019 Federal Budget has been handed down and it is an interesting situation we find ourselves in.  With a Federal Election pending it would appear that Scott Morrison and Josh Frydenberg’s first budget is one to go to an election with. The key measures announced being:  Tax cuts focusing on low and middle income earners  Significant Infrastructure spending  Energy payments subsidies  Superannuation changes to the age eligibility for making contributions  A return to a Budget Surplus after 10 years  Immediate…

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DFK EMEA Annual Conference 2019

DFK International Women in Leadership 21 – 23 February 2019 Prague here we come! DFK conferences provide a forum for partners from member firms to meet in person to develop ever closer personal relationships and develop new ways of doing business together. With the formation of the DFK International Women in Leadership (DFK I-WIL) committee in 2018, we are pleased to announce the forthcoming DFK I-WIL conference in February 2019 in Prague. This committee comprises 20 women from DFK offices…

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Changes to Victoria’s Long Service Leave Entitlements

From 1 November 2018, the new Long Service Leave Act 2018 (Vic) will come into force and the changes are seen to be beneficial to parents and carers who change their work hours when looking after children or loved ones. Essentially the major changes in this legislation allow employees to access their Long Service Leave entitlement sooner, in smaller blocks of leave, and have unpaid parental leave of up to a year counting as continuous service when calculating and employees…

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L/3, 689 Burke Road, Camberwell, VIC 3124
PO Box 1163, Camberwell, VIC 3124
Telephone: 03 9804 0411
Facsimile: 03 9804 0422