Below is the second stimulus package update. In summary (to be eligible you must be an established employer prior to 12 March 2020). The minimum and maximum benefits have now increased from $2,000 and $25,000 to $20,000 and $100,000. You are
COVID-19 Investment incentives, other measures & payroll tax
We have received a number of enquiries with regard to the proposed government business stimulus package. The announcement was made on the 12th March and below is what we know so far. Please note that at this stage we are focusing on the business
COVID-19 Instant asset write off
We have received a number of enquiries with regard to the proposed government business stimulus package. The announcement was made on the 12th March and below is what we know so far. Please note that Threshold increased from $30,000 to $150,000
COVID-19 Cashflow assistance for business – apprentices and trainees
We have received a number of enquiries with regard to the proposed government business stimulus package. The announcement was made on the 12th March and below is what we know so far. Please note that at this stage we are focusing on the business
COVID-19 Cashflow assistance for business – reduction of activity statement payments
We have received a number of enquiries with regard to the proposed government business stimulus package. The announcement was made on the 12th March and below is what we know so far. Please note that at this stage we are focusing on the business
The superannuation guarantee amnesty
The superannuation guarantee amnesty is back in the news. The federal government introduced a 2019 bill late last year which has passed the lower house and has now gone to the Senate for their deliberation. The bill is designed to encourage those
Car log books
With the FBT year coming to a close on 31 March 2020, I thought it appropriate to again remind you of the log book requirements (which are also applicable for work/business related expense claims). For any car that is not a commercial vehicle, a
Substantiation of claims for occupancy expenses
In today’s modern workforce many people are required or choose to work from home. Given this, taxpayers are able to claim deductions for occupancy expenses. The ATO reports a large increase in claims in this area and it worthwhile noting the
Action required if you use Auskey
The way you access government online services is changing. AUSkey and Manage ABN Connections (your ABN connected to your myGov) is being replaced by myGovID and Relationship Authorisation Manager (RAM) at the end of March 2020. myGovID is the
Insurance payouts from recent disasters
Will I be taxed on insurance payouts? Your Family Home – payments you receive for your main residence is not taxable. Personal Property – payments received for personal assets (household items, furniture, boats, private cars) are not
