InterAcct Software has the new tax tables based on the changes in legislation.
Changes to personal income tax thresholds announced by the Government during the Federal Budget have been incorporated into the withholding schedules and tax tables and will apply to payments made on and from 13 October 2020.
As the changes to withholding are made part way through the income year, employers and other payers who are unable to immediately implement these changes into their payroll will have until 16 November 2020 to do so.
Employees and other payees will receive their entitlement to the reduced tax payable for the entire 2020–21 income year when they lodge their income tax return.
I hope that as restrictions start to ease off that business will return to normal.
We have certainly seen a steep increase in consumer confidence in the last week due to the government grants and payments coming through. We hope that you are all doing well and ready to get back to work.
Many clients have asked us about the JobKeeper system. With InterAcct Software STP running the ATO has all of the information to quickly lodge for JobKeeper through their online portal. Within a few minutes its all lodged and just waiting for the ATO to process the payment.
Contact us if you need more information.
At InterAcct Software things are still fairly normal. We are still open and providing support to our clients. For training we are moving to train most clients remotely rather than face to face and some staff are working from home/remotely. But otherwise its full steam ahead.
If you would like to take the chance to get started with the software or continue with support we are here and happy to help.
InterAcct Software are ready to meet with people online as an alternative to face to face training. Our trainers have been advised when onsite to keep their personal distance from clients and to use regular hand sanitizer etc. While this may not be enough given the spread seen overseas many clients have taken to online meetings to avoid potential cross contamination.
An article shared to us from Wix of some ideas of what to do to help in the near future can be seen Here
Last year Victoria managed to sneak into the lead for the Australian State that had the most views for our Vimeo channel. It was a close race with New South Wales. Our customers are all over Australia, and we enjoy some light hearted analysis of where our clients (current and potential) are coming from.
If you have suggestions for new videos that you would like to see from our team, let us know.
We are so confident that you will see a benefit in our Business software that, for a limited time InterAcct Software offers new users an option to pay nothing for our software for 12 months.
Terms and conditions apply, contact our team for more details.
You may notice that there is a circle icon at the bottom right of the screen on the website now. This is a link to the InterAcct team from Messenger (facebook). If you want to talk with the sales team or even support we can assist you from here rather than phone or email if you prefer.
While our office will be unattended during the Christmas Break, feel free to send us an email if you have any questions and we will be happy to get back to you.