August 2020 Newsletter
The JobKeeper payment, which was originally due to run until 27 September, will now continue to be available until 28 March 2021. There will however be some changes to eligibility, as well as a tightening of payment rates. We run through the details. We also reveal a largely unforeseen danger for insurance cover in the […]
2020 Income Tax Returns
In response to COVID-19 we have taken measures to protect our clients and staff in-line with the current lock down restrictions. While we will be unable to offer physical tax appointments at this time our Accountants will be available for telephone or virtual meetings. Getting your tax return prepared: 1. Email your workpapers to your […]
July 2020 Newsletter
Despite the current COVID-19 constraints, completing your tax return remains a task we can help achieve to your best advantage. We look at some tax tips for the current tax lodgement period. There is also some good news on the instant asset write-off, and a timely reminder about the importance of being covered against cyber […]
June 2020 Newsletter
The COVID-19 period in everyone’s life continues, and as time goes by more issues keep arising regarding certain tax matters. One such issue, which the ATO has realised may be a concern, is the changed rental property market, and the deductions for expenses that are and are not available. We also consider the issue of […]
Victorian Government Business Support Fund
The Victorian Government has recently updated the eligibility criteria in relation to the Business Support Fund. The fund provides eligible businesses with one-off grants of $10,000. To be eligible one of the following conditions needs to be met along with the standard eligibility criteria: Stream One is available to small businesses that meet the standard eligibility […]
JobKeeper
As we progress along the JobKeeper journey it is essential eligible employers are aware of their ongoing payment obligations. The ATO has issued a schedule to assist businesses with identifying the JobKeeper fortnights and when payments must be made to eligible employees. If your business pays wages weekly it is a good idea to pay […]
May 2020 Newsletter
The dominating factor in all our lives at the moment is of course COVID-19. We look at issues that may change the normal deductions taxpayers can make for working from home, plus examine details of the new JobKeeper scheme that both employers and employees will need to know. The dominating factor in all our lives […]
April 2020 Newsletter
The overwhelming issue of the day is of course the coronavirus. The government’s stimulus package launched in response to the crisis is welcome. We spell out what this means for different taxpayers, and how the measures will work. Also in this issue we examine the superannuation guarantee amnesty, an interesting quirk of the FBT rules […]
Australian Government Economic Response – COVID-19
The Coronavirus Economic Response Package Omnibus Bill 2020 has now been introduced into Parliament. The Coronavirus Economic Response Package Omnibus Bill 2020 has now been introduced into Parliament and covers the government’s initial $17.6 billion economic stimulus package and its latest $66.1 billion support package. Click here to read our summarised fact sheet on boosting […]