Rental property: Tax approach adjusts for COVID-19
[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget] Rental property: Tax approach adjusts for COVID-19 The COVID-19 pandemic has placed property owners, and tenants in many cases, in unfamiliar territory. Many tenants have been paying reduced rent or ceased paying because their income has been adversely affected. While rental income may be reduced, owners will continue to incur normal expenses on […]
Has your super fund got you covered for insurance? With COVID-19, maybe not
[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget] Has your super fund got you covered for insurance? With COVID-19, maybe not From 1 July 2019, the government adopted new rules that aim to prevent the unnecessary erosion of people’s retirement savings through inappropriate insurance arrangements. As part of the rules, super providers, excluding SMSFs and small APRA funds, are unable to […]
JobKeeper Payment Part 3.0
[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget] Jobkeeper Payment Part 3.0 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 would now be made over two separate extension periods, being: Extension period 1 […]
JobKeeper Payment Part 2
[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget] Jobkeeper Payment Part 2 Tuesday the 21st July 2020, it was announced by Prime Minister and Treasurer that JobKeeper program will be extended to March 2021. It was confirmed in their announcements that the current $1,500 per fortnight JobKeeper payment will be dropped to $1,200 per fortnight from 28 September, and $750 per […]
Varying PAYG Instalments because of COVID-19
[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget] Varying PAYG Instalments because of COVID-19 PAYG instalments is a system that helps you manage your expected tax liability on income from your business or investments for the current income year by making smaller regular payments. To assist taxpayers experiencing financial difficulty as a result of COVID-19, the ATO is providing added flexibility […]
Remote AGMs and Document Signing Allowed
[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget] Remote AGMs and Document Signing Allowed Companies should note that the government made a determination just before the end of the financial year that permits companies to hold annual general meetings by electronic format. Also, companies may execute a document, without using a common seal, by electronic communication. The determination is to be […]
The Realities of Insuring Against Cyber Crime
[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget] The Realities of Insuring Against Cyber Crime Think your business is too small or that your data and information isn’t important enough to be targeted by hackers? Think again. Much of our communication, be it personal or businesses-related, has increasingly moved online in the last two decades, and continues to do so, […]
Instant Asset Write Off Extended to 31 December
[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget] Instant Asset Write Off Extended to 31 December Note that the boost to the instant asset write off rules that the government put in place to help stimulate the Australian economy in the face of the COVID-19 crisis has been extended to the end of this year. Businesses with a turnover of up […]
Tax Return Tips
[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget] Tax Return Tips Despite the current COVID-19 world in which we live, the procedures for completing and lodging tax returns remains pretty much the same. So, before we sit down with you to go over your tax return, certain information will be needed. Of course these days pre-filling takes care of a lot […]
Tax issues when dealing with volunteers
[siteorigin_widget class=”SiteOrigin_Widget_Hero_Widget”][/siteorigin_widget] Tax issues when dealing with volunteers From bushfire relief groups, sporting clubs, environmental groups, charity associations and many more, volunteers are an indispensible workforce and support network for many organisations. For most, if not all, having volunteers ready to lend a hand is pivotal in them being able to function or survive. Given […]