ONLINE - Businesses Engaging & Growing Together

Springwood group will host the ATO at it's October meeting for a special Q+A and post-budget briefing session covering stimulus packages, concessions and support.

All Lower Blue Mountains business owners are invited to attend this free event sponsored by the Local Area Marketing & Networking Group as part of its NSW Small Business Month program.

It's a great opportunity to clarify your entitlements and obligations and get informed on the most recent updates affecting your business.

PROGRAM
EVERYTHING YOU WANTED TO KNOW ABOUT ATO SMALL BUSINESS TAX SUPPORT – BUT HAD NO ONE TO ASK – UNTIL NOW!
Traditionally businesses don’t view the ATO as a friend – they take your money!

But times have changed. today, as the world navigates the COVID-19 and economic crisis, the ATO are providing eligible businesses and individuals stimulus packages, concessions, and unprecedented support.

Are you getting your full entitlements? Do you understand your obligations?

This special Local Area Marketing & Networking Group webinar, in conjunction with the ATO and NSW Small Business Month, will update you with the latest post-6 October Federal Budget information.

Better still - you get to ask the ATO first-hand about things that affect you and your business. (Non business specific).

GUEST SPEAKER: Linden Regina - Small Business Experience Team - Australian Taxation Office.

Linden plays a key role in helping small business owners to understand in ‘plain English’ the changing taxation landscape.

Her refreshing ‘no nonsense’ approach reflects a farming background and experience with the pressures running a business, trying to timely meet obligations, manage cash flow, pay bills and raise a family.

Linden’s ATO portfolio includes a broad knowledge across taxation and superannuation plus the experience of talking with hundreds of business owners and understanding their challenges.

GOT A QUESTION? You can ask it on the day or send it in advance to networking@localareamktg.com.au and we will pass it to Linden.

Stimulus measures the ATO will be responsible for, subject to legislation, include:

Tax cuts from the second stage of the Personal Income Tax Plan, brought forward two years to 1 July 2020, as well as a continuation of the low- and middle-income tax offset (LMITO) for 2020–21.

A JobMaker Hiring Credit for businesses to encourage the employment of young workers ($200 per week for an eligible employee aged 16 to 29 years or $100 per week for an eligible employee aged 30 to 35 years), worth $4 billion over three years from 2020–21.

A loss carry-back for corporate tax entities with aggregated turnover up to $5 billion to allow losses to be carried back to earlier profitable income years to generate a refundable tax offset.

A temporary full expensing that will allow businesses with aggregated turnover up to $5 billion to deduct the full cost of eligible depreciating assets.

An increase to the small business entity turnover threshold from $10 million to $50 million for the purposes of accessing some small business tax concessions.

The extended JobKeeper program, as previously announced.

All our meetings are currently online and FREE (sponsored by Local Area Marketing) during the Pandemic . We plan to return to face-to-face meetings at Springwood Sports Club early in the New Year.

But we still have 1-1 individual meetings in our virtual meeting rooms where you rotate through a series of private face-to-face discussions (usually five-minutes each. Can be longer if requested).

INDIVIDUAL GROUP REGISTRATION/RSVPs VIA MEETUP ARE STILL REQUIRED.

On registration you get access to the meeting link

You can also keep informed via our social media site:
Facebook: https://www.facebook.com/groups/2282854728434360/

Looking forward to meeting you all online!

Joe Kowalewski
Organiser
networking@localareamktg.com.au
0404 767 482