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A message of support and a bit of direction for Collins Hume clients during NSW COVID19 lockdown. Things are taking a little longer than usual as we assist our business clients in lockdown distress. If you have an enquiry about government support, we will endeavour to get back to you ASAP but in the meantime check out these resources to get the ball rolling: Support for NSW businesses impacted by COVID-19 www.service.nsw.gov.au Keep as positive as possible everyone.

What government support is available to NSW business? If your business has been adversely impacted by the recent lockdown in NSW, support is available. On 13 July 2021, the NSW and Federal Governments announced their economic support package aimed at supporting businesses and residents with the recent COVID-19 lockdown. We've outlined the key economic support measures being offered for dealing with the economic ramifications of the health and safety requirements currently being experienced by our community. The NSW and Federal Governments have announced a series of measures to support business during extended lockdowns of four weeks or more: Up to $15,000 through the expanded NSW 2021 COVID-19 business grants program Up to $10,000 cashflow support per week for employers NSW micro business grants for businesses with a turnover between $30,000 to $75,000 NSW payroll tax deferrals and a 25% payroll tax waiver NSW Rent protections and grants NSW Sector support for the arts and accommodation sector Small Business fees and charges rebate up to $1,500. Please visit https://www.service.nsw.gov.au/campaign/covid-19-help-businesses/grants-loans-and-financial-assistance for the full listing and more details. Tips before you start your application You can streamline the process of applying for business support by ensuring: Your business and contact details are up to date on the Australian Business Register Your personal and business details are up to date and you have a MyServiceNSW account with a business profile Please assess your eligibility using the information available on the Service NSW website and if you believe you are eligible apply using your Service NSW business account. Some grant applications may require an accountant's prepared declaration as part of the grant submission process. Collins Hume will be able to provide assistance to our clients as we have done with previous NSW grant programs. Please contact Collins Hume in Ballina or Byron Bay on 02 6686 3000 should you require an accountant's letter or further assistance.

Small businesses and not-for-profits in NSW are now able to apply for rebates of up to $1,500 thanks to a new rebate scheme aimed to offset NSW and local government fees. Launched on 1 April 2021 and lasting until 30 June 2022, the Small Business Fees and Charges Rebate scheme is aimed at small businesses, not-for-profits and non-employing sole traders that have a wages bill coming in below the $1.2 million 2020-2021 payroll tax threshold and can provide a turnover declaration (accountant's letter) showing at least $75,000 per year. If you are a sole trader, the owner of a small business or a not-for-profit organisation in NSW, you may be eligible for a small business fees and charges rebate of $1500. 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 $1500 is reached. Funds can be used to offset the costs of eligible NSW and local government fees and charges. These include, but are not limited to: food authority licences liquor licences tradesperson licences event fees outdoor seating fees council rates. The rebate can only be used for eligible fees and charges due and paid from 1 March 2021. It cannot be used for fines or penalties, fees and charges that have the key purpose of discouraging behaviours or inducing behaviour changes, Commonwealth government charges, rent on government premises, or taxes. See guidelines for more information. The rebate will be available until 30 June 2022. Eligibility To be eligible for this rebate, small businesses (including non-employing sole traders) and not-for-profit organisations must: have total Australian wages below the NSW Government 2020-2021 payroll tax threshold of $1.2 million have an Australian Business Number (ABN) registered in NSW and/or have business premises physically located and operating in NSW be registered for goods and services tax (GST) provide a declaration that the business has a turnover of at least $75,000 per year. Note: Only one $1500 rebate is available for each ABN. Not-for-profit organisations are not subject to the GST requirement but must demonstrate a turnover of more than $75,000 per year. If you have any questions regarding the guidelines for this rebate, or you would like assistance with an application or supporting documentation, please contact the team at Collins Hume in Ballina or Byron Bay on 02 6686 3000. Source: Service NSW

Work from home expenses under scrutiny and the perils of browsing Facebook If you worked from home during lockdown and spent money on work related items that were not reimbursed by your business, you might be able to claim some of these expenses as a deduction – but not everything you purchase can be claimed. The ATO has stated that it is looking very closely at work related deductions that are being claimed. If you are claiming your expenses, there are three methods you can use: An 80 cents per hour short cut method (you will need to have evidence of hours worked like a timesheet or diary) The 52 cents per hour method (which excludes phone, internet, or the decline in value of equipment which are all claimed separately), or The actual expenses method. The ATO is particularly interested in those using the 'actual expenses' method. To be able to claim a work related expense, it needs to be directly related to the work you do and how you earn your income. The ATO has highlighted four ineligible expenses that are being claimed: Personal expenses such as coffee, tea and toilet paper Expenses related to a child's education, such as online learning courses or laptops Claiming large expenses up-front (instead of claiming depreciation for assets), and Occupancy expenses such as rent, mortgage interest, property insurance, and land taxes and rates, that cannot generally be claimed by employees working from home. A recent case before the AAT shows how determined the ATO is to crackdown on work related deductions being claimed where there is not a satisfactory nexus between the expense being claimed and the taxpayer's work. In this case, the taxpayer had claimed car and clothing expenses, and home internet and mobile phone costs. The ATO conceded the car costs but on a reduced deduction. When it came to clothing expenses the ATO conceded that a deduction could be claimed for gloves and a beanie on the basis that the taxpayer worked in cold conditions and that these were protective clothing needed for the job. However, the AAT refused to allow a deduction for the cost of a pair of socks on the basis that they were not protective in nature in their own right – yes, it really does get this detailed. The taxpayer had also claimed 100% of his home internet expenses but the ATO reviewed this claim and reduced the deductible amount to $50 - a record of the family's home internet usage demonstrated the internet was used to browse Facebook amongst other non-work related sites. One of the other issues to come out of this case was the importance of record keeping. If you are going to claim work related expenses, then ensure you have the records to prove your claim. If anything in this update is a priority for you, please feel free to contact Collins Hume in Ballina or Byron Bay immediately for assistance.

Collins Hume celebrates John Collins' retirement Collins Hume team, alumni, clients and friends gathered at Ballina RSL on 16 June to wish Founding Partner John Collins a happy retirement. John, an accounting and fishing stalwart in Ballina, officially retires from the Partnership on 30 June 2021. Collins Hume CEO, and MC, Christopher Atkinson started proceedings by saluting John's incredible public practice career. He said that John had always been ahead of his time, having initiated tax planning, flexible working arrangements and client nurturing well before the accounting profession today. From rubber snakes in files to a fox whistle in the car exhaust, no one was safe from John. The room was regaled with numerous tales about his practical jokes over the years. In her tribute, John's current PA, Carol Holton, mentioned a hidden cracker gag that he thwarted before it went bang. Being a master of practical jokes, John had detected what was going on and told Carol that she had set it up to fail, only after she had sweated long enough first! John then enjoyed seeing a video collage of well wishers and reminiscences from clients, friends and retired Collins Hume Partner, John Hume. As a parting gift, John received two portraits from local award-winning caricaturist, Ron Atkinson. "When I left the ATO and started Collins Hume in 1980 I had one client and a part-time typist," said John. "Today Collins Hume has five Partners, some 20 staff and clients all around Australia and the world. I am so proud of the legacy I have helped create in Ballina." John also thanked his wife, Lynn, for her enduring support throughout his career. He looks forward to continuing his association with Ballina Angling Club, caravanning and racking up some serious pinball scores in his retirement. Partners Christopher Atkinson, Kelly Crethar, Jamie Doyle and Peter Fowler look forward to steering Collins Hume ahead in the future, with teams in Ballina and Byron Bay. Read more about John at Our Team. Special thanks goes to Selina Atkinson and Carol Holton for organising such a wonderful celebration of John's career! Copyright 2021. Collins Hume Accountants & Business Advisers Ballina & Byron Bay

EOFY planning tips with Christopher Atkinson from Collins Hume. The next two articles that follow this post pertain to end of financial year changes, reminders and actions for business owners.

Chris Atkinson explains what tax planning is and the benefits.

Now's the time to review what strategies you can use to minimise your tax before 30 June 2021. Imagine what you could do with tax saved? Reduce your home loan Top up your super Save for a holiday (when we can travel again) Deposit for an Investment Property Pay for your children’s education Upgrade your Car The most important thing to remember is that there is no point in spending money to get a tax deduction unless it’s going to result in something useful for you.

Imagine what you could do with tax saved? Reduce your home loan Top up your super Save for a holiday (when we can travel again!) Deposit for an Investment Property Pay for your children’s education Upgrade your Car Here’s a guide to the strategies you can use to minimise your business tax.

Collins Hume's teams in Ballina and Byron Bay raised more than $4,000 in last weekend's Byron Coast 2021 Charity Walk. With the Westpac Rescue Helicopter providing vital 24-7 aeromedical search and rescue services across the Northern NSW region, Collins Hume was able to raise $4,833 thanks to the support and generosity of our families, clients and the wider community. Donning t-shirts specially designed for the day and with bags of enthusiasm, Collins Hume set out early in three teams covering 12km, 24km and 36km courses. Collins Hume Accountant and fundraising organiser Kim Roy has since crunched the numbers. "On the weekend we walked a combined total of 322km which equates to approximately 467,500 steps," says Kim. "Thus far we have raised $4,833 which, if we were all in one team, would make us the second-highest fundraiser." Make no mistake, the Byron Coast 2021 Charity Walk was no cakewalk, but the effort put in by all the Collins Hume team paid off so was certainly well worth it. "There are a lot of blisters and a few tired legs but overall the atmosphere on the weekend was on a real high," Kim added. "Everyone was so proud of themselves and that we were able to push past what we thought we could do." "I'm really proud to be part of a team of 'out there' individuals who are willing to get up from behind the desk and have some fun while raising money for a great cause." Every dollar raised helps to keep the Rescue Helicopter flying 24-7 for those in need. You can still support Collins Hume's fundraising efforts to keep helicopters and crews ready to respond when needed by following the sponsorship page links here. To find out more about how Collins Hume's gets involved and gives back to our community, please read more at Our Giving Impact.

Chris Atkinson, our CEO, talks about the Collins Hume mission.

My name is Chris Atkinson, and I’m the CEO here at Collins Hume. Our core values aren't just typing on a website. These really are what we are. We documented these core values; it was easy. Collins Hume’s core values are: Lifestyle. Fun and enjoyment. Balance your business with your life. Inspiring. Today, every day, we will inspire others to achieve their best. Caring. We care for our team, we care for our clients, and everyone we connect with. Giving. We always give more than we receive. See us in the Ballina or Byron Bay office, or reach out over the phone.