Relaxing Easter
The team at Peacocke’s has returned to the office after a relaxing and restful Easter. We hope you had a safe and enjoyable break too.
A reminder
Since we are getting back into the swing of things, we need to remind employers that Super Guarantee Payments for the period January 1 to March 31 must be received by the super fund by April 28.
The main point to remember is that it is the employer’s responsibility to meet this deadline. If a clearing house is being used, please allow an extra week for processing. Payment must be received by the fund in order to meet legal obligations so clearing houses recommend allowing time for processing. We advise that payment be made by the 21st of the month each time these payments are due.
Quarterly IAS payments
When completing Instalment Activity Statements (IAS), it is important to select the correct option. This particularly relates to farmers. Generally, you will have a choice of options.
If option one says ‘nil this quarter’, please do not ignore! You must cross that box to select that option.
The same can apply to non-farmers. However, their statement will usually have an amount listed at Option 1. Option 2 uses a percentage of the quarter’s income.
Whichever option applies to you, the ATO must still be advised of which option you have selected and made a payment. Every year, we get several follow-ups from the ATO relating to this. If you have any queries, please call us on 6885 5594.
Fuel Tax Credits
Another update for clients is that the fuel tax credit increased on February 1.
The new ra
tes are:
On road 14.2 cents/litre
Off road 40.1 cents/litre
Any questions, please do not hesitate to give us a call on 6885 5594.
Our client does their bookkeeping at the bus stop.
Where will you do 
yours?
Stay tuned for more info or contact Peacocke Accountants to get help with your bookkeeping. Visit peacockeaccountants.com.au/helping-you/bookkeeping/ to get started.