More COVID 19 business grants are now tax free | Taxwise Australia | (08) 9248 8124

More COVID-19 business grants are now tax-free

By Warren Kruger / September 6, 2022 / 0 Comments

The Federal Government has expanded the list of State and Territory COVID-19 grant programs that may be tax-free to eligible businesses. A State or Territory Government COVID-19 grant payment will generally be tax-free if: the payment is received under a grant program that is formally declared to be an eligible program; the recipient carried on […]

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Pandemic Leave Disaster Payment Reinstated | Taxwise Australia | (08) 9248 8124

Pandemic Leave Disaster Payment Reinstated

By Warren Kruger / August 2, 2022 / 0 Comments

In recognition of the risks associated with more infectious new Covid-19 variants through the winter period, the Federal Government has agreed to reinstate the ‘Pandemic Leave Disaster Payment’ to 30 September 2022, which was otherwise set to end as of 30 June 2022. Eligibility for the payment will be backdated to 1 July 2022, to […]

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Re Contribution Of COVID 19 Early Release Super Amounts | Taxwise Australia | (08) 9248 8124

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 | Taxwise Australia | (08) 9248 8124

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 | Taxwise Australia | (08) 9248 8124

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 | Taxwise Australia | (08) 9248 8124

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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