JobKeeper extension’s alternative turnover tests
The extension of the JobKeeper scheme is now based on current GST turnover, not projected turnover. The basic test compares year-on-year turnover. If there were [...]
Extended December JobKeeper deadlines
The ATO has extended the JobKeeper monthly business declaration deadline for the month of December until 28 January 2021 (from 14 Jan 2021). This applies [...]
Road to Recovery – Budget 2020-21
On 6 October 2020, the Federal Treasurer, Josh Frydenberg, delivered the Federal Budget for the 2020–2021 income year. The 2020-21 Federal Budget is a road to [...]
2020 Tax Planning – What you need to know
The instant asset write-off Allows instant deductions for capital assets (up to $150,00 per item**) acquired prior to 30.06.2020. Pool balances under $150,000 at 30 [...]
COVID-19 work-from-home expense questions and CGT concerns
There are many questions being asked lately about claiming expenses when forced to work from home over the COVID-19 period - plus a lot of [...]
Snapshot: The JobKeeper Payment
The JobKeeper payment is a subsidy of $1,500 per fortnight per eligible employee paid in arrears to the employer by the ATO. It’s for businesses [...]
$1,500 JobKeeper subsidy to keep staff employed
Date · From 30 March 2020 for six months · For employees employed at and from 1 March 2020 · First payments in first [...]
The Second $66.1 bn Stimulus Package: What You Need To Know
The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides [...]
The Stimulus Package: What You Need To Know
The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the Coronavirus. The yet to [...]
Bushfire relief from ATO obligations
The ATO has provided relief from lodgement compliance and payment obligations for those impacted by the bushfires. An automatic two month deferral for activity statement [...]