JobKeeper: we explain the rules

JobKeeper: we explain the rules The Treasurer has released the Coronavirus Economic Response Package (Payments and Benefits) Rules 2020 which sets out the rules for administrating the JobKeeper scheme. Download our Guide for Business Applicants. Download the JobKeeper employee nomination form here. Download this article here. Eligibility overview To be eligible for [...]

2020-04-30T11:11:37+10:00April 14th, 2020|

New working from home expenses rules for individuals

New working from home expenses rules for individuals The Australian Tax Office has announced special arrangements for claiming working from home expenses due to the coronavirus crisis. The special new arrangement will allow people to claim a rate of 80 cents per hour for all their running expenses, instead of calculating costs [...]

2020-04-30T11:12:41+10:00April 9th, 2020|

Temporary amendments to Australian Insolvency and Corporations Law

Temporary amendments to Australian Insolvency and Corporations Law The Coronavirus Economic Package Omnibus Act 2020 (Cth) took effect on 25 March 2020. It makes temporary amendments to Australian Insolvency and Corporations Law that are intended to provide a safety net to otherwise profitable and viable businesses which face financial distress as a [...]

2020-04-30T11:14:16+10:00April 9th, 2020|

Commercial Leasing Code of Conduct

Commercial Leasing Code of Conduct On Tuesday 7 April 2020 the National Cabinet released a mandatory code of conduct containing “good faith leasing principles”, which will apply to all commercial tenancies. Each state and territory will pass their own legislation and regulations to give effect to the mandatory code. There are many [...]

2020-04-30T11:15:21+10:00April 9th, 2020|

Keeping Australians employed: Government’s JobKeeper Payment

Keeping Australians employed: Government's JobKeeper Payment The Federal Government’s $130 billion JobKeeper subsidy is intended to keep Australian employees in work. Around 6 million workers will receive a fortnightly payment of $1,500 (before tax) through their employer. The subsidy will start on 30 March 2020, with the first payments to be received [...]

2020-04-30T11:16:25+10:00March 31st, 2020|

Australia Changes Foreign Investment Review Threshold

Australia Changes Foreign Investment Review Threshold Australia has long been a favoured region for foreign investment with a stable legal and political system, a strong growing economy, the world’s largest producer of gold, iron ore and uranium, a major global producer of agricultural commodities, the sixth largest pool of investment funds under [...]

2020-04-30T11:18:00+10:00March 31st, 2020|

Managing your business through economic uncertainty

Managing your business through economic uncertainty Article extract by Rick Gendemann, CPA, CA, Manning Elliot LLP, BC Canada. Today’s economic environment and the impact of world health concerns continue to send major shock waves around the globe. As a business owner, you are facing new challenges, the likes of which you may have [...]

2020-04-30T11:19:31+10:00March 26th, 2020|

Counteracting the economic impact of Covid-19: Second Government Support Package Announced

Counteracting the economic impact of Covid-19: Second Government Support Package Announced 1.    Victorian Government’s $1.7 billion economic survival and jobs package. In this: the Government will provide full payroll tax refunds for the 2019-20 financial year to small and medium-sized businesses with payroll of less than $3 million The same businesses will [...]

2020-04-30T11:23:21+10:00March 23rd, 2020|

Tax Time Monthly March 2020

Tax Time Monthly March 2020 In this edition of Tax Time Monthly we cover updates and findings from ATO on: Superannuation Guarantee Amnesty Coronavirus Stimulus Package Notable developments of FBT year ended 31 March 2020 Additionally, the determinations of the ATO on: Loss on shares deductible and taxpayer wins appeal - Greig [...]

2020-04-30T11:24:28+10:00March 17th, 2020|