Overview Relevant to employers and employees Under the JobKeeper Payment, businesses impacted by the coronavirus (COVID-19) will be able to access a subsidy from the Government to continue paying their employees; Affected employers will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum period of 6 […]
Read MoreOverview Relevant to all entities in business with PAYG-W obligations 1st Tranche $10k to $50k tax free payment of PAYG-W up to 30 June 2020; 2nd Tranche $10k to $50k tax free payment of PAYG-W after 1 July 2020; Refund paid after all other ATO obligations have been offset. 1st Tranche $10k to $50k free […]
Read MoreWe’ve made it easy for you! We know how confusing this time is for many of you and wanted to keep things simple. We’ll be continually updating you with the facts and figures of what you’re eligible for as an individual and business. Check out our quick reference diagrams below. Save them, share them and find out how you […]
Read MoreDear Valued Client, We sincerely hope this report finds you safe and well and wish that we are reaching out to you under better circumstances. The coronavirus (COVID-19) that was declared a global pandemic on 11 March 2020 has had a major impact on the Australian economy and both business and individuals alike. The situation […]
Read MoreIf you run your business as a sole trader, or receive a share of small business income from a trust or partnership, don’t forget you may be able to save up to $1,000 on your tax bill by claiming the small business income tax offset. The offset is worked out based on the proportion of […]
Read MoreThe ATO has published a new factsheet on motor vehicle expenses to help small businesses get this right. The small business motor vehicle expenses fact sheet will help you answer common questions about: types of motor vehicle expenses you can claim; methods you can use to calculate your claim; private use of a business car; […]
Read MoreOn 2 November 2018, the Deputy Commissioner of Small Business, Deborah Jenkins, delivered a keynote address at a conference run by a national accounting body outlining the main tax issues the ATO is seeing in small businesses. These are: claiming private expenses through the business; how to attribute business and private use to an asset; […]
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