Shortcut method to claim deductions if working from home
As the situation around COVID-19 continues to develop, the ATO understands many employees are now working from home To make it easier when claiming a deduction for additional running costs you incur as a result of working from home, special arrangements have been announced. A simplified method has been introduced that allows you to claim […]
OMNIBUSiness COVID-19 Summary Edition
What unprecedented times we’re living in! As soon as we think we’re on top of coronavirus, things change and don’t they change fast? The effect of COVID-19 is having a massive financial impact on all of us in some way and we fear that the impact of the virus will have an even greater impact […]
COVID-19 Government’s JobKeeper Payment
A major part of the Government’s response to the COVID-19 pandemic is the JobKeeper payment scheme The JobKeeper Payment is a wage subsidy that will be paid through the tax system and administered by the ATO to eligible businesses impacted by COVID-19. Under the scheme, eligible businesses receive a payment of $1,500 per fortnight per […]
Extension of time to enrol for the JobKeeper scheme
JobKeeper Payment The Tax Commissioner has extended the time to enrol for the initial JobKeeper periods, from 30 April 2020 until 31 May 2020. If you enrol by 31 May you will still be able to claim for the fortnights in April and May, provided you meet all the eligibility requirements for each of those fortnights. This includes […]
JobKeeper payment subsidy open today
JobKeeper: Your business may be eligible for a maximum of $19,500 per eligible employee During the week commencing today (Monday 20 April 2020), one of our team will be in contact with all business clients to discuss your possible eligibility for the JobKeeper payment. We are already working with a number of clients to complete this […]
Government announces mandatory code for rent relief
Relief for commercial tenants The Government has announced a range of measures to help renters. This includes a temporary hold on evictions and a mandatory code of conduct for commercial tenancies to support small and medium sized enterprises (SMEs) affected by coronavirus. Hold on evictions for renters Evictions will be put on hold over the […]
The JobKeeper Payment Legislation
JobKeeper Payment Bills passed but no detail yet JobKeeper Payment details still not available We would like to take this opportunity to update you on the JobKeeper Payment Scheme. Bills passed but no detail yet Yesterday, the Coronavirus Economic Response Package (Payments and Benefits) Bill 2020 was introduced and passed both Houses of Parliament. Unfortunately, […]
Shortcut method for claiming home office running costs
ATO announces shortcut method for claiming home office running costs The Australian Taxation Office (ATO) has announced a temporary simplified short cut method to make it easier for individual taxpayers to claim deductions for additional running expenses incurred as a result of working from home due to the Coronavirus pandemic. Based on the announcement, the […]
Coronavirus: Government announces new tax measures
ATO’s support measures to assist those affected by COVID-19 The Government has announced a number of economic responses to the Coronavirus (or ‘COVID-19’) pandemic, including economic stimulus packages worth billions of dollars. Some of the key tax measures include: From Thursday 12 March 2020, the instant asset write-off threshold has been increased from $30,000 (for […]
Coronavirus Jobkeeper Payment
Federal Government offers $130b in coronavirus wage subsidies for businesses to pay workers The Government has announced a $130 billion JobKeeper payment to help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus. Around 6 million workers will receive a fortnightly payment of $1,500 (before tax) […]
