
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…

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…

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…

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…