Blog

JobKeeper 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 […]

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Your 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 […]

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STIMULUS 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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Your Money Matters – October 2019

$30,000 instant asset write-off The ATO is reminding businesses that are looking to expand or improve their business and thinking of buying new or second hand assets, that medium sized businesses with a turnover up to $50 million (but at least $10 million) are eligible for the instant asset write-off.

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Your Money Matters – September 2019

“Outrageous” deductions rejected The ATO has published some of the most unusual claims that they disallowed last financial year. Nearly 700,000 taxpayers claimed almost $2 billion of ‘other’ expenses, but the ATO’s systematic review of claims had found, and disallowed, some very unusual expenses, including:

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