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What now? Where to get help if you need it

Help for business JobKeeper 2.0 The Government has announced further changes to the JobKeeper scheme. The good news is that employees that missed out on JobKeeper because they were not employed on 1 March 2020 might now be eligible. The proposed changes would enable employees employed on 1 July 2020 to receive JobKeeper payments from … Read more What now? Where to get help if you need it

Jobkeeper 2.0 + New Changes

The future of JobKeeper  Between April to May 2020, JobKeeper was taken up by 920,000 organisations and around 3.5 million individuals – 30% of pre-Coronavirus private sector employment. There have been a number of Government announcements on JobKeeper that impact on business and employee eligibility. Employees that previously failed the JobKeeper eligibility test as they … Read more Jobkeeper 2.0 + New Changes

$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

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