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Refunds for Tax Losses

Post published:October 30, 2020
Post category:Learn More / Tax & Advisory

If your company has made a loss, you may be able to claim a tax refund for tax previously paid on profits. In the 2020-21 Federal Budget, the Government announced…

JobKeeper clawback begins

Post published:October 28, 2020
Post category:Learn More / Tax & Advisory

At the recent Senate Estimates hearing, Jeremy Hirschhorn, the ATO’s Second Commissioner, stated that $120 million in JobKeeper payments had been clawed back from those either deliberately seeking to rort…

APRA reveals 34.4bn super early release

Post published:October 27, 2020
Post category:Learn More / Uncategorized

Over $34.4bn has been released from Australian Superannuation Funds under the COVID-19 early release scheme, the Australian Prudential Regulation Authority revealed. The figures, which do not include self-managed super funds,…

2020 Federal Budget – For Business Owners

Post published:October 7, 2020
Post category:Learn More / Tax & Advisory
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Australia has managed COVID-19 relatively well but good management isn't enough to protect us from the $213.7 billion deficit in 2020-21. What is striking with the Budget is the volume…

2020 Federal Budget for Individuals

Post published:October 7, 2020
Post category:Learn More / Tax & Advisory
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To kickstart the economy, the Federal Government has released huge spending and tax cuts. This appears to be a great Budget for the young, anyone still working and business owners.…

JobKeeper – Wage Condition

Post published:October 2, 2020
Post category:Learn More / Tax & Advisory
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To be eligible to receive JobKeeper payments, the employer must meet a wage condition. That is, employers must have paid the eligible employee at least the applicable JobKeeper payment for…

Preventing a Tsunami of Insolvencies

Post published:October 1, 2020
Post category:Learn More / Tax & Advisory
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The Government has stepped in to prevent a wave of insolvencies when the COVID-19 support measures run their course in December 2020. Temporary insolvency and bankruptcy protections are in place…

JobKeeper – The Decline in Turnover Test

Post published:October 1, 2020
Post category:Learn More / Tax & Advisory
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For businesses already enrolled in JobKeeper, to receive payments from 28 September 2020, you need to meet an extended decline in turnover test based on actual GST turnover. Businesses that…

JobKeeper from 28 September 2020

Post published:September 30, 2020
Post category:Learn More / Tax & Advisory
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The first tranche of JobKeeper ended on 27 September 2020. Those needing further support will need to reassess their eligibility and prove an actual decline in turnover. To receive JobKeeper…

JobKeeper Fortnights

Post published:September 7, 2020
Post category:Learn More / Tax & Advisory
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JobKeeper fortnight Payment rate130 March 2020 – 12 April 2020JobKeeper 1.0Eligibility period 1$1,500 per fortnight213 April 2020 – 26 April 2020327 April 2020 – 10 May 2020411 May 2020 – 24…