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$2.5bn JobTrainer package: What you need to know

The Government has announced the $2.5bn JobTrainer package to retrain, upskill and open new job opportunities. JobTrainer for job seekers and school leavers An additional 340,700 training places will be created to provide no or low cost courses into sectors with job opportunities. The Government is working with the States and Territories to develop a … Read more $2.5bn JobTrainer package: What you need to know

Funding for the arts: what’s available and how can you get it

Will the Prime Minister’s targeted $250 million package of funding to support cultural and creative projects and initiatives save the industry? The arts funding is aimed at kick-starting the sector with funding preferencing commercial initiatives that generate jobs and are expected to have a positive economic impact. That is, this is an economic package as … Read more Funding for the arts: what’s available and how can you get it

Tip-offs & the ATO’s fraud warpath

We always knew that a Government scheme swiftly distributing cash during a crisis was going to come with equally swift compliance and review measures, particularly when eligibility was self-assessed. Two major Australian Taxation Office (ATO) initiatives are searching out fraud and schemes designed to take advantage of the Government’s Coronavirus Economic Response Package. Tip lines, … Read more Tip-offs & the ATO’s fraud warpath

Increase in Set Rate for Home Office Expenses for Covid times

With the increased numbers of taxpayers working from home due to COVID-19, the ATO has released specific guidance softening the rules around claiming deductions for home office expenses, including a ‘shortcut’ set rate method. Firstly, the ATO has reduced the usual requirements to be ‘eligible’ to claim the expenses, which usually require a specific area … Read more Increase in Set Rate for Home Office Expenses for Covid times

Trust Resolutions – Your end of financial year obligations

Important reminders – Trust distributions The Template We Sent The template may mention of a Clause and any relevant schedules you may have to specifically mention. These are highlighted in the template by a red colour, this is where you check your Trusts Deed to enter the correct clause in regards to decisions being made … Read more Trust Resolutions – Your end of financial year obligations

Extension of the $150,000 instant asset write-off

As announced earlier in the week, the Government is planning to extend the $150,000 instant asset write-off threshold for a further 6 months until 31 December 2020. This means that the higher threshold can apply to assets that are first used or installed ready for use for a taxable purpose on or after 12 March … Read more Extension of the $150,000 instant asset write-off

HomeBuilder Stimulus: What is it and how do you access it?

The Government has announced grants of $25,000 to encourage people to build a new home or substantially renovate their existing home. The HomeBuilder scheme targets the residential construction market by providing tax-free grants of $25,000 to eligible owner-occupiers, including first home buyers, to build a new home or substantially renovate their existing home. The grants … Read more HomeBuilder Stimulus: What is it and how do you access it?

The ATO’s JobKeeper audit targets

“…while it is all very well to talk of ‘turning points’, one can surely only recognise such moments in retrospect.” Kazuo Ishiguro, The Remains of the Day The JobKeeper subsidy has progressed beyond the rush for eligibility and entered its second phase: compliance. Late last month, the Australian Taxation Office (ATO) released guidance highlighting where … Read more The ATO’s JobKeeper audit targets

The $1,500 JobKeeper Package – what you need to know

We’ve created the below video to help you navigate the updates for the JobKeeper Program now passed through the parliament. Watch this video on YouTube How fo you work out your fall in turn over? Watch this video on YouTube DOWNLOAD TEMPLATES Employee Checklist Employee Confirmation A Checklist to track who has or has not … Read more The $1,500 JobKeeper Package – what you need to know

Complete Covid-19 Guide to Stimulus and support Measures as at 6th April 2020

Hang in there  We’ve designed this guide as a quick reference to the COVID-19 related tax and financial support that might be available to you. It’s quiet comprehensive, but care needs to be taken and you should consult your accountant when making decisions. The Government has flagged that more support is coming and we will keep … Read more Complete Covid-19 Guide to Stimulus and support Measures as at 6th April 2020

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