Harris Black, Author at Harris Black

Harris Black Staff Day

26 August, 2020 by Harris Black

On Friday 24th July 2020 the Harris Black Team got together for their annual staff day. A little different to previous years given the impact of Covid-19 restrictions and requirements however we still managed to have an exceptional day.

An initial review of the ‘Financial Year That Was’ incorporated consideration of what we had so far learned and managed to achieve whilst facing the challenges of living and working with Covid-19 conditions. Had we managed to pivot and maintain effective client support? What worked well and what could we improve further? This was followed by discussion regarding our firm strategy and ultimately how we must continue to embrace Harris Black’s values in our day to day work of supporting clients and helping them achieve their goals regardless of life’s changed conditions.

Our guest speaker for the day was Petris Lapis who presented an entertaining and enlightening workshop on Success Mindset. Petris is a favourite of the firm and we’ve been lucky enough to have her present on a few occasions.

Staff teamwork aimed at identifying and challenging some of our work processes before designing improved procedures preceded a great lunch at SameSame in Fortitude Valley. After a tough few months it was wonderful to get the entire team together!

Lower Corporate Tax Rates And Franking Rates From 1 July 2020

26 August, 2020 by Harris Black

The corporate tax rate for companies that are base rate entities will be reduced from the current rate of 27.5% to:

-26% from 1 July 2020
-25% from 1 July 2021

What is a base rate entity?

A company is a base rate entity (and subject to the lower tax rate) if it satisfies the following conditions:

-no more than 80 per cent of the company’s assessable income for the income year is passive income (BREPI); and
-the company’s aggregated turnover for the income year (worked out at the end of the year) is less than $50 million

Maximum franking rates

A company’s maximum franking rate is equal to the income tax rate that would apply to the company in the income year in which the distribution is made (the current year), assuming that the company’s aggregated turnover, BREPI and assessable income for the current year are equal to those of the immediate prior income year.

Summary of Tax Rates / Maximum Franking Rates

Government Stimulus Measure Fact Sheets

11 August, 202012 July, 2021 by Harris Black

In response to the COVID-19 pandemic, both Federal and State Governments have released stimulus packages to support individuals and businesses.

This page collates these announcements in a single location for your convenience.

Return to this page as Harris Black is regularly updating this information as it is released by the different levels of Government.

Survive.Pivot.Adapt

29 June, 2020 by Harris Black

by Renee Bettenay

On 2nd June 2020, Harris Black Director, Renee Bettenay, presented a webinar for MJS Floorcoverings Partners in Business Webinar Series.

Here’s a video from Renee’s presentation discussing how to survive, pivot and adapt in this current business environment.

Returning To The Workplace – COVID-19 Update

12 May, 2020 by Harris Black

Many workplaces have had employees working from home as requested by the government during the Covid-19 pandemic. However with the relaxing of social distancing rules in many states and the return of children to schools, it is now time to start preparing for your employees to return to the workplace. Here are some tips to help you on your way:

Click here to view our Surviving COVID-19 Resources.

JobKeeper – Next Steps

7 May, 2020 by Harris Black

Many businesses have now established if they are eligible to receive JobKeeper Payments and if eligible have enrolled, however this is just the first step.

Click here to view a pdf summary of all the steps involved to get registered and keep receiving payments.

A summary of the key dates are:

-8 May 2020 – Date you need to have paid the minimum April amount to all eligible employees (this has been extended from 30 April);
-31 May 2020 – Enrol for JobKeeper with the ATO to qualify for the initial fortnights of JobKeeper but you can enrol for later months at a later date (this has been extended from 30 April); and
-31 May 2020 – report April 2020 actual GST turnover, projected May GST turnover and confirm employees eligible for April (going forward this step needs to be reported within 7 days of end of month).

The ongoing reporting requirements need to be completed each month for businesses to remain eligible to receive JobKeeper Payments. Monthly reporting needs to be completed through the business portal, MyGov for Sole Traders or Harris Black can be engaged to complete the reporting on your behalf through the ATO Tax Agent Portal.

For those who have not setup the business portal access with a myGovID, click here to view our procedure. If you have any concerns or queries regarding Relationship Authorisation Manager (RAM) or myGovID setup please call 1300 287 539 or click here to visit the website .

We’re here to help…

If you would like to discuss JobKeeper payments, we are here to help so please do not hesitate to contact your Harris Black team member.

Click here to view our surviving COVID-19 resources.

Harris Black

Author: Harris Black