The first tranche of JobKeeper ends on 27 September 2020 and the government is extending the JobKeeper Payment by a further six months to 28 March 2021. Those businesses needing further support will need to reassess their eligibility and prove an actual decline in turnover. From 28 September 2020, businesses and not-for-profits seeking to claim…
On 14 August 2020, the Treasurer released the Coronavirus Economic Response Package (Payments and Benefits) Amendment Rules (No. 7) 2020, amending the date of eligibility for JobKeeper from 1 March 2020 to 1 July 2020. The amendment applies from 3 August 2020. Under the original JobKeeper rules, an employee generally had to be employed by the…
Working From Home – The New 80 Cents Per Hour Method In response to COVID-19 and the fact that so many taxpayers are now having to work from home, the ATO announced a temporary simplified ‘short cut’ method to make it easier for you to claim tax deductions for additional running expenses incurred as…
HOME OFFICE EXPENSES : WHAT CAN YOU CLAIM IN YOUR TAX RETURN The way we work is changing – for employers and employees. Workplaces and employee roles are more flexible and it has become more common for people to spend at least a small portion of their time working from home. Particularly during the…
$1,500 JobKeeper Payment subsidy to keep staff employed Updated 17 April 2020 The JobKeeper Payment, as everyone knows by now, is a wage subsidy that will be paid via the ATO to eligible businesses impacted by the Coronavirus. The subsidy will be paid for a maximum period of six months – from 30…
Boosting Cash Flow for Employers Tax-free payments up to $100,000 for employers Updated 17 April 2020 Date · March 2020 – June 2020 · July 2020 – September 2020 Applies to Businesses with aggregated turnover less than $50m in the previous financial year; or Not-for-profits, including charities, with aggregated turnover less than $50m; And,…
Government Support for Individuals during COVID-19 Expanded access, reduced means testing and waiting times Updated 17 April 2020 From 25 March 2020, eligibility for the Jobseeker Payment, Parenting Payment and the Youth Allowance Jobseeker will be extended temporarily to include: Permanent employees who have been stood down or lost their jobs (and are…
Superannuation & COVID-19 Temporary early release of superannuation Date 25 March – 24 September 2020 Applications from 20 April 2020 Applies to People in severe financial hardship Updated: 17 April 2020 From 20 April 2020, people in financial distress as a result of the coronavirus pandemic will be able to self-certify and apply…
How to set up myGovID and RAM Updated: 17 April 2020 The way you access government online services has changed. After 27 March 2020, AUSkey and Manage ABN connections was replaced with the following: myGovID – an authentication service that allows you to prove who you are online. It is different to…
The government announces increased tax benefits in response to the Coronavirus, which includes $25,000 cash boost for eligible businesses as well as an investment incentive. The Australian Government announced its response to assisting the economy in light of the Coronavirus. This assistance will be provided through a $17.6 billion economic stimulus package. The purpose…