Re-Contribution Of COVID-19 Early Release Super Amounts

By Warren Kruger / April 19, 2022 / 0 Comments

Individuals can now re-contribute amounts they withdrew under the COVID-19 early release of super program without the re-contribution counting towards their non-concessional contributions cap. These contributions can be made between 1 July 2021 and 30 June 2030. Individuals can make COVID-19 re-contribution amounts to any fund of their choice where the funds’ rules allow. COVID-19 […]

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Jobmaker Year 2: Adjusting Baseline Headcount

By Warren Kruger / April 12, 2022 / 0 Comments

If you have been claiming the JobMaker Hiring Credit, please be aware that the ATO will now calculate an adjusted baseline headcount for the claim. The ATO will amend the prefill in the claim form based on information provided in earlier claims. The ATO does this each period by calculating the greatest headcount increase that […]

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Tax Deductibility Of COVID-19 Test Expenses

By Warren Kruger / March 1, 2022 / 0 Comments

After much speculation, the Government announced that COVID-19 tests, including Polymerase Chain Reaction (‘PCR’) and Rapid Antigen Tests (‘RATs’), will be both: tax-deductible; and exempt from FBT; broadly where they are purchased for work-related purposes. This will require the introduction of new specific legislation (i.e., to clarify that work-related COVID- 19 test expenses incurred by […]

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Covid Test Costs To Be Tax Deductible

By Warren Kruger / February 22, 2022 / 0 Comments

The Australian government announced on 7 February 2022 that legislation will be changed to ensure covid test costs will be tax deductible for the 2022 financial year. The deduction will apply both when an individual is required to attend the workplace or has the option to work remotely. What testing expenses will you be able […]

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COVID-19 Vaccination Incentives And Rewards

By Warren Kruger / January 25, 2022 / 0 Comments

The ATO has reminded employers to consider their tax and super obligations when employees are provided with incentives or rewards for getting their COVID-19 vaccination. When employees are provided a cash payment, including paid leave for employees to get their COVID-19 vaccination (or additional paid leave to recover from any vaccination side effects), employers should […]

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Time Running Out To Register For The Jobmaker Hiring Credit

By Warren Kruger / September 7, 2021 / 0 Comments

  | | | The JobMaker Hiring Credit scheme’s third claim period is now open, so if a taxpayer has taken on additional eligible employees since 7 October 2020, they may be able to claim JobMaker Hiring Credit payments for their business. Eligible businesses can receive up to: $10,400 over a year for each additional […]

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