We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and…
Stimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses with turnover under $5bn* to immediately deduct the cost of…
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…
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…
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…
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.…
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…
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…
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…
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…