JobKeeper 2.0

Posted by on Wednesday, September 30th, 2020 in COVID-19, Individual, Small Business, Tax

The first round of JobKeeper ended on 27 September 2020. The Government has decided the scheme will continue for an additional 6 months until 28 March 2021. Key changes: More employees are eligible for JobKeeper The eligibility rules will be revised The payment rates will be reduced To receive JobKeeper from 28 September 2020, employers […]

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Superannuation Contributions

Posted by on Thursday, June 25th, 2020 in Individual, Small Business, Superannuation, Tax

Deducting your Superannuation Contributions  Pay by COB Tomorrow to Ensure your Deductions for 2020 EOFY!!! June 30 is only next week!!! A friendly reminder that if you are wanting to ensure your contributions for you personally, or through your business on behalf of you and other staff are tax-deductible for 30 June 2020, you need to […]

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JobKeeper Program | Enrolments extension

Posted by on Thursday, April 30th, 2020 in Corporate, COVID-19, Small Business, SME

JobKeeper Update ATO Grants extension to enrol and pay Employees for the first two fortnights The ATO has now announced an extension of time to 31 May for employers who wish to enrol for the first two JobKeeper fortnights. In addition,employers will have until 8 May to ensure all eligible employees are paid a minimum of $1,500 per […]

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JobKeeper Program | Enrolments now open

Posted by on Tuesday, April 21st, 2020 in Corporate, COVID-19, Small Business, SME

JobKeeper program Enrolments now open! The ATO has provided helpful instructions on how this process should be undertaken, together with steps and key dates. While these steps may appear simple, a proper assessment of eligibility is complex and we are working closely with clients to navigate this complexity. Key dates From 20 April: enrol for JobKeeper […]

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JobKeeper Payments for businesses update

Posted by on Thursday, April 16th, 2020 in Corporate, COVID-19, Small Business

On 8 April 2020, the Australian Federal Government released and passed legislation relating to the JobKeeper payments, which will be available to businesses heavily impacted by COVID-19. As a result, there is now further clarity on the application process and operation of the JobKeeper package. Below we provide some of the key updates for employers: […]

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Working From Home (WFH) Deductions During COVID-19

Posted by on Thursday, April 16th, 2020 in COVID-19, Small Business, Tax

Working from home A review of the key principles and rules With the advent of new work arrangements arising from the COVID-19 chaos, we thought it might be timely to review the key rules for claiming deductions associated with working from home. After all, working from home is likely to be the new norm for […]

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Finance & Loans

Posted by on Wednesday, April 15th, 2020 in COVID-19, Small Business

Coronavirus SME Government Loan Guarantee – $250,000 The Coronavirus Small and Medium Enterprise (SME) Guarantee Scheme is a coordinated action between the Australian lenders and Federal Government to support the flow of credit in the Australian economy by supporting the small and medium-sized business with an unsecured loan up to $250,000 for a business who […]

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Mortgage repayment relief

Posted by on Friday, April 10th, 2020 in COVID-19, Individual, Small Business

Which payments can I defer?  Mortgage repayment relief is available to home loans and most business loans. Deferral of payments can be in the form of: Defer both principal & interest repayments Defer principal repayments only Please note that you can still make voluntary payments during the deferral period if you wish to do so. […]

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Bankruptcy, Solvency and Insolvent Trading

Posted by on Friday, April 10th, 2020 in Corporate, COVID-19, Individual, Small Business

Overview Temporary relief provided to businesses and individuals experiencing financial stress, by lessening threats of legal action. Changes effective from 25 March 2020 until 25 September 2020 Businesses Company directors will be temporarily relieved of their duty to prevent insolvent trading. This is only for debts incurred to facilitate the continuation of the business and […]

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Other Government Assistance and Tax Relief

Posted by on Thursday, April 9th, 2020 in Corporate, COVID-19, Small Business, Superannuation, Tax

ATO Payment Relief Overview Variation of pay as you go instalment (PAYGI) to zero and claim a refund for instalments already paid for September and December 2019 quarters. Deferring by up to 6 months the payment date of amounts due through the activity statement (including PAYGI), income tax assessments, fringe benefits tax assessments and excise […]

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