ATO guidance in respect of JobKeeper 2
The ATO has finally released its guidance for businesses wanting to receive JobKeeper payments beyond 28 September to 28 March 2021. What remains the same for businesses in JobKeeper 2.0? Businesses already enrolled for JobKeeper before 28 September 2020 do…
How long will my money last?
The enormous pressure & uncertainty of the global COVID-19 crisis has sparked a financial crisis. Many Australians have had disruption to their income with major industries shutting down. For some, it has also meant job loss. You may be starting…
Business survival & adaptation package
Third Round of Business Support Fund Grants Grants to support businesses through restrictions Program overview The Victorian Government has announced a third round of the Business Support Fund to provide direct financial support to businesses impacted by restrictions in Victoria.…
JobKeeper Latest News
The latest amendment to the JobKeeper 1.0 rules has been released. This seventh amendment, released on Friday 14 August, encapsulated the changes set out in the 7 August version of the “JobKeeper Payment” fact sheet, as discussed in Tax & Super’s article “When…
JobKeeper Update
IMPORTANT JOBKEEPER UPDATES The Government has decided to extend JobKeeper for a further six months (13 fortnights) from 28 September this year, but eligibility will be based on actual rather than projected turnover declines and the payments will be lower.…
Tax 2020 ATO Hotspots
The Tax Office has begun bracing for a substantially different tax time this year, noting that it will likely see a flow-on effect from COVID-19 restrictions on work-related expenses claims. ATO assistant commissioner Karen Foat has now urged taxpayers to…
Business Support Fund Grant Victoria – $5000
Small businesses located within the 36 Melbourne suburbs that will soon re-enter Stage 3 coronavirus restrictions will be eligible for one-off grants of $5000 from the state government, with applications due to open in coming days. On Tuesday, Victorian Premier…
Notice of intent to claim a deduction for superannuation contributions
1. In order to claim a deduction for a personal contribution, a member must give their notice (or variation) by the following dates, whichever occurs first: a. the day they lodge their income tax return for the income year in…
Important Reminders
Monthly declaration Jobkeeper You will have to provide a monthly declaration to the ATO – this can be done from the 1st to the 14th day of each month, to receive reimbursements for the payments you have made to your…
Financial Advice for Those in Retirement
Did you know that while almost half of all retirees agree that hiring a financial advisor could make a huge difference when it comes to planning their retirement, only 24% actually have one? Compared to the 47% in the US…