Autumn in full swing

With a lot of autumn rain this year and planting of winter crops, it’s shaping up to be a good season for many clients.

If you’re a sole trader, the owner of a small business or a not-for-profit organisation in NSW, there’s more good news.

Small business fees and charges rebate

You may be eligible for a small business fees and charges rebate of up to $3000. This rebate helps businesses recover from the impacts of COVID-19 and encourages growth by reducing the cost of running a business. Eligible businesses or not-for-profits only need to apply for the rebate once, but can submit multiple claims until the full value of $3,000 is reached. Funds can be used to offset the costs of eligible NSW and local government fees and charges due and paid from 1 March 2021. 

Note: If you’ve already registered for the rebate, you do not need to do anything – you will receive an automatic $1,000 increase to your rebate. Businesses newly registering will have a rebate of $3,000. Read more and apply at www.service.nsw.gov.au

Work test update

From 1 July 2022, people aged between 67 and 75 will be able to make non-concessional and salary-sacrificed contributions to their superannuation without the need to pass the work test or satisfy the work test exemption criteria. The removal of the work test from that date also allows people aged under 75 to access the bring-forward of non-concessional contributions in some cases, which may allow you to access up to three times the annual non-concessional contributions cap in a single year. Personal contributions will also be affected, although now instead of having to pass the work test to contribute, the work test only applies if a deduction is sought.

These changes are designed to provide older Australians with more flexibility to contribute to their super and add to their comfort in retirement. Contribution caps will still apply to any contributions made to your super.

To pass the work test, an individual must be gainfully employed for at least 40 hours during a consecutive 30-day period in each income year in which contributions were made. It’s an annual test, which means that once it is met, the individual can make contributions for that entire income year. Read more at www.ato.gov.au

Dance for Cancer

Well done to our client Brad McRae and friends, ‘The Boys from Warren’ who made an incredible effort as part of the Stars of Dubbo ‘Dance for Cancer’, raising almost $30,000 from a $3000 goal. Check out their fundraising page at

https://stars.cancercouncil.com.au/…/mbt…/stars-of-dubbo

Tour de OROC

Happy Easter

Finally, a very Happy Easter to our clients. We hope you have an enjoyable weekend, and we will see you when the office reopens on Tuesday, April 19.

Related articles

Explore Peacocke Services

Accounting
Accounting

Efficient accounting services that ensure accuracy, compliance, and strategic insights.

Advisory
Advisory

Strategic advisory services to optimise cash flow, profit, and business structure.

Bookkeeping
Bookkeeping

Streamlined bookkeeping solutions to save you time and optimise efficiency.

Tax Compliance
Tax & Compliance

Streamlined bookkeeping solutions to save you time and optimise efficiency.

Self Managed Super
Self Managed Super

Streamlined bookkeeping solutions to save you time and optimise efficiency.

Business Restructuring
Business Restructuring

Streamlined bookkeeping solutions to save you time and optimise efficiency.

Peacocke Accountants – Dubbo

Let’s work on your project together

Ready to take your business to the next level?

Let us handle your accounting, so you can focus on what matters most. Contact us today for personalised advice and expert support!