Government COVID-19 Stimulus and relief Packages

This page will be regularly updated with latest news in relation to Federal and NSW State Government Stimulus to Businesses and Individuals as a result of the COVID-19 Pandemic.

We’re here to support you

The team at FinCare is ready to support our clients and their businesses through these tough economic times. We are reviewing the latest Government Stimulus and Relief packages as they are announced, and looking to apply them to our clients’ specific circumstances.   We are here and available to discuss ideas, solutions and government relief to soften the impact.

We have our systems and procedures already in place for our business to operate remotely as required. Reception will always be available. If you can’t reach us easily by phone please contact us by email.   The easiest and best ways to send us information is electronically.  If electronic means is difficult, then by post.   We will be communicating with our clients electronically, by phone and by video conferencing.

CLICK here for common Questions and Answers from clients in relation to these packages

Please review this page weekly for updates.

If you have any questions, please contact your Client Manager or call us directly on (02) 9542 4655.

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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…