Latest JobKeeper amendments dissected

Entitlement based on employeesThe major change is the admission into the JobKeeper scheme of employees who were on the books as at 1 July 2020, from JobKeeper fortnight 10 (3-16 August). The rules as amended not only enable individuals who…

JOBSEEKER, JOBKEEPER, NOW… JOBTRAINER!

The federal Government has launched JobTrainer, a new initiative intended to help ease the increasing unemployment rate in Australia. It is aimed at improving the skills of the young workforce who unexpectedly found themselves unemployed. The…
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Varying PAYG instalments because of COVID-19

PAYG instalments is a system that helps you manage your expected tax liability on income from your business or investments for the current income year by making smaller regular payments. To assist taxpayers experiencing financial difficulty…
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Instant asset write off extended to 31 December

Note that the boost to the instant asset write off rules that the government put in place to help stimulate the Australian economy in the face of the COVID-19 crisis has been extended to the end of this year. Businesses with a turnover of up…

COVID-19 and residential rental property claims

Many residential rental property owners have had their rental income affected by COVID-19. As a result of this income year not being business as usual, the ATO has provided answers to some typical scenarios that may crop up in this area for…

COVID-19 corporate residency concession

The ATO has announced an important tax residency concession for foreign incorporated companies during the COVID-19 crisis. Background On 24 March 2020, the government announced a ban on Australians travelling overseas, using powers…
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Rental (passive) income and ‘carrying on a business’ for JobKeeper eligibility

When assessing eligibility for JobKeeper assistance, the first question that must be answered is whether the entity was carrying on a business as at 1 March 2020. This question is of particular relevance to entities that have solely or predominantly…

Working from home

Conditions of working from home In general, the deductions you can claim depend on whether: you have a work area – a room such as a study or spare room is set aside primarily or exclusively for work activities but your home isn't your…

SMEs to receive rent waivers, deferrals

Small and medium businesses will now be granted rental waivers and deferrals under a mandatory Code of Conduct unveiled by Prime Minister Scott Morrison. Under the Code of Conduct, landlords will be required to reduce rent proportionate to…