The impact of COVID-19 has been felt very differently from region to region. Fortunes vary wildly between business operators subject to ongoing lockdowns and trading impediments to those benefiting from the “new normal”.
We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. Here is what has been announced so far:
Australian Taxation Office initiatives are searching out fraud and schemes designed to take advantage of the Coronavirus Economic Response Package.
From 1 July 2020, parents accessing the Government’s parental leave pay (PPL) scheme will have greater flexibility and options. Targeting the self-employed and small business owners, the changes introduce a new flexible paid parental leave pay period of 30 days. Previously, new parents could apply for PPL for a continuous block of up to 18 […]
With all the changes occurring in the last year, it’s difficult to keep track. Thankfully we have compiled a list of a few things we can confirm to occur on 1 July 2020.
Recent changes to the JobKeeper Payment scheme means employers have a little more time to send in their report.
Late in 2019, legislative changes were made that exclude non-residents from accessing the main residence exemption.
Many small business owners need to question whether or not to purchase tax audit insurance.
If the ATO has queries or suspects something is not right, you need to be able to respond.
Christmas parties are considered to be “entertainment benefits”. Therefore, the expenses may be subject to fringe benefits tax (FBT).
As a general rule, smaller businesses tend to use cash accounting because it is not as complex as non-cash accounting.
The ATO have again flagged that under-reporting of foreign income is an issue.