Your Money Matters – January/February
New measures applying from 1 January 2021The Government has provided an update of a number of new measures which came into effect from 1 January 2021, including (among others):
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Your Money Matters – December 2020
Improvements to be made to full expensing measure The government will expand eligibility for the temporary ‘full expensing measure’, which temporarily allows certain businesses to deduct the full cost of eligible depreciable assets in the year they are first used or installed.
Read MoreYour Money Matters – November 2020
Tax cuts pass Parliament The Government announced various tax measures in the 2020 Budget on 6 October 2020, and it was able to secure passage of legislation containing some of the important measures very shortly afterwards, as summarised below.
Read MoreYour Money Matters – October 2020
Special COVID-19 Superannuation Condition of Release Extended Regulations that extend the time frame of the special condition of release to access $10,000 from superannuation for individuals experiencing financial difficulties due to COVID-19 have been formally registered.
Read MoreJobKeeper Payment Extension (JobKeeper 2.0)
Key Dates: 28 September 2020: The JobKeeper extension starts and the payment rates change for your eligible employees/business participants. 1st – 14th October 2020: Complete the October JobKeeper monthly business declaration so you can be reimbursed for September fortnights. 1st – 31st October 2020: Check and submit the business actual decline in turnover to the […]
Read MoreYour Money Matters – July 2020
Treasury Laws Amendment (2020 Measures No 3) Bill 2020 Treasury Laws Amendment (2020 Measures No 3) Bill 2020 has passed both Houses of Parliament and is now law.
Read MoreYour Money Matters – June 2020
2020 INCOME STATEMENTS (previously PAYG payment summaries) To all of our salary and wage clients, we can obtain your 2020 Income statement (previously called a PAYG payment summary or Group Certificate) from the ATO Tax Agent Portal at the ATO. You DO NOT have to set up a mygov account; we can access this information […]
Read MoreYour Money Matters – April 2020
We have included a summary below regarding the JobKeeper payment. Not every business is the same, accordingly please read the various Fact Sheets issued by Treasury in the below link for those who need more information.
Read MoreCORONAVIRUS STIMULUS PACKAGE
The Government is acting decisively in the national interest to support households and businesses and address the significant economic consequences of the Coronavirus. For more information please click on the link provided. Read More Here https://treasury.gov.au/coronavirus
Read MoreSTIMULUS PACKAGE SUMMARY 2020
Am I eligible for the cash flow boost? A business (including a charity or not-for-profit) will be eligible for the cash flow boost if it meets the following conditions. The business must make a payment that is subject to the withholding tax provisions (the most common example will be payments of salary or wages). The […]
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