Jobkeeper 2.0 – Tweaks To The ‘Decline In Turnover’ Tests

By Warren Kruger / September 15, 2020 / 0 Comments

  | | | On 21 July 2020, the Government announced that the JobKeeper Payment (‘JKP’) would be extended until 28 March 2021 (i.e., for a further six months beyond its original end date of 27 September 2020). As a result, JKPs will now be made over two separate extension periods, being: Extension period 1 […]

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Extension of the JobKeeper Payment

By Warren Kruger / August 18, 2020 / 0 Comments

  | | | Sadly, many Australian businesses are a long way from trending back to ‘normal’ as we approach 27 September 2020, the original date that JobKeeper was set to end.  Thankfully the government has announced an extension of the JobKeeper Payment, with additional turnover qualifications. The JobKeeper Payment, which was originally due to […]

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80 Cents Per Hour ‘Shortcut’ Method For Home Expenses Has Been Extended

By Warren Kruger / August 11, 2020 / 0 Comments

  | | | Back in April 2020 the ATO announced that a ‘shortcut’ method was to be made available to use from 1 March 2020 until 30 June 2020 for individuals claiming home office expenses due to COVID-19.   The ATO has recently announced an extension of this shortcut method to also include 1 July […]

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COVID-19 and Division 7A Relief

By Warren Kruger / July 28, 2020 / 0 Comments

| | | The ATO has announced some limited relief for private companies that have loans to their shareholders or related parties that are governed by what are referred to as “complying loan agreements”. A complying loan agreement is entered into to avoid triggering an assessable deemed dividend that could potentially be equal to the […]

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Regulations Confirm No SG Obligation On Jobkeeper Payments Where Work Is Not Performed

By Warren Kruger / July 21, 2020 / 0 Comments

| | | The federal government has registered the Superannuation Guarantee (Administration) Amendment (Jobkeeper) Payment Regulations 2020. These regulations ensure that amounts of salary or wages that do not relate to the performance of work and are only paid to an employee to satisfy the wage condition for getting the JobKeeper payment are prescribed by […]

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Treasury Laws Amendment – Extending The Instant Asset Write-Off

By Warren Kruger / July 7, 2020 / 0 Comments

| | | Treasury Laws Amendment (2020 Measures No 3) Bill 2020 has passed both Houses of Parliament and is now law. Extending the Instant Asset Write-Off This legislation amends the income tax law to allow a business with an aggregated turnover for the income year of less than $500 million to immediately deduct the […]

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