Coronavirus

AAT Decision On Jobkeeper And Backdated ABNs

By Warren Kruger / February 23, 2021 / 0 Comments

  | | | On 21 December 2020, the AAT handed down its decision in a case relating to a taxpayer’s eligibility for JobKeeper payments, in circumstances where the Registrar of the Australian Business Register decided to reactivate a previously cancelled ABN after 12 March 2020, with a backdated effective date on or before 12 […]

Read More

JobMaker Hiring Credit Scheme: Claims Open From 1 February 2021

By Warren Kruger / February 18, 2021 / 0 Comments

  | | | The JobMaker Hiring Credit is being administered by the ATO and provides a wage subsidy payment directly to employers as an incentive to employ additional job seekers aged 16 to 35 years. Registrations for the JobMaker Hiring Credit scheme opened on 7 December 2020, and claims for the first JobMaker period […]

Read More

Shortcut Rate For Claiming Home Office Expenses Extended

By Warren Kruger / February 16, 2021 / 0 Comments

  | | | The ATO has extended (again) the ability to utilise the “shortcut rate” for claiming home office running expenses to 30 June 2021 (it previously only applied until 31 December 2020). The ATO’s guideline allows certain taxpayers to claim a fixed rate per hour (80 cents per hour) for most additional running […]

Read More

SMSF Related Party Rental Income Deferrals Due To COVID‑19

By Warren Kruger / February 12, 2021 / 0 Comments

  | | | The ATO has made a determination to ensure that trustees of SMSFs do not inadvertently breach the “in-house asset rules” where the fund allows a related party to defer the payment of rent under a lease agreement (on arm’s length terms) because of the financial impact of COVID‑19. Where the requirements […]

Read More

New Measures Applying From 1 January 2021

By Warren Kruger / February 8, 2021 / 0 Comments

  | | | The Government has provided an update of a number of new measures which came into effect from 1 January 2021, including (among others): The most significant changes to Australia’s insolvency framework in 30 years, which are intended to reduce costs, cut red tape and help more small businesses recover from the […]

Read More

How to Avoid Getting Dodgy Advice

By Warren Kruger / December 9, 2020 / 0 Comments

  | | | The ATO is warning taxpayers who may be thinking about pausing, changing or closing their business, due to the current economic conditions, to be wary of untrustworthy advisers who may recommend inappropriate or illegal behaviour. This could include illegal phoenix activity, where businesses intentionally remove their assets prior to winding up […]

Read More
Call Now Button

Need Help With

Your Tax Return?

Complete the form below for a fast response