Bray Chan Chartered Accountants

Just in case…Everyone, stay safe and warm. Big day tomorrow. It’s official. Signed at 6:00am. It was even on TV. Don't forget that tomorrow marks the start of the new Facebook rule (also known as Meta), which allows them to use your photos. Don't forget the deadline is today!!!
Hold your finger anywhere in this message and “copy” will appear. Click “copy. Then go to your page, create a new post, and place your finger anywhere in the empty field. “Paste” will appear, and click Paste.
This will bypass the system….
He who does nothing consents
According to the show 60 Minutes:
Just in case you missed it: a lawyer advised us to post this. The violation of privacy can be punished by law. NOTE: Facebook Meta is now a public entity. Every member must post a note like this. If you do not publish a statement at least once, it will be technically understood that you are allowing the use of your photos, as well as the information contained in your profile status updates.
I HEREBY DECLARE THAT I DO NOT GIVE MY PERMISSION FOR FACEBOOK OR META TO USE ANY OF MY PERSONAL DATA.

Want to know if your services are Personal Service Income (PSI), here’s a summary provide by the ATO

https://www.facebook.com/share/p/vHkLxMVWzhasjfZB/?mibextid=WC7FNe

If you’re earning income from personal efforts and skills as a sole trader, you might be earning personal services income (PSI).

PSI is earnt:
✅ through expertise
✅ through labour
✅ as an entertainer.

But PSI isn’t generated:
❌ as an employee
❌ through assets
❌ by supplying and selling goods.

If you earn PSI, you will need to complete specific questions in your tax return and schedules.

Due dates for lodging and paying your March 2024 BAS

* Quarterly reporting - 29 April 2024
If you lodge online, you may be eligible for an extra two weeks to lodge and pay your quarterly BAS.
When Bray Chan are lodging your BAS - 26 May 2024

* Monthly reporting - 21 March 2024

Need any help or assistance in preparing your Business Activity Statement, contact us on
PH: 08 8338 8600
See our range of services at www.braychan.com.au

From our team at Bray Chan, wishing you all a safe and enjoyable long weekend! 🐣🍫🐣

Have you processed all your payroll for the month of March?

Avoid the risk of non-compliant super obligations and process the March quarter super payments as early as today!! 👌

Thinking of getting an EV for your business? Learn a bit more about the tax benefits.

Bray Chan - FBT exemption for Electric Vehicles Chris Bray, director of Bray Chan provides insight into the value of the FBT exemption for Electric Vehicles in Australia.

*** Employers get your payroll systems ready***

From 1 July 2022, employees can be eligible for super guarantee (SG), regardless of how much they earn. The $450 threshold has been abolished

The super guarantee (SG) rate will also increase from 10% to 10.5%.

Further details can be found on the ATO website
https://www.ato.gov.au/Business/Business-bulletins-newsroom/Employer-information/Get-ready-for-super-changes-from-1-July/

Here is a useful infographic from the ATO about the 2.0