The federal budget is always a keenly anticipated event, and with the issues that we’ve been dealing with in 2020, this year’s budget is even more anticipated than most. This year’s budget is estimated to produce a record deficit for…
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…
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…
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…
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…
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…
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…
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…
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…
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…