When the pandemic took hold earlier last year, the Government implemented a slew of support measures to ensure that individuals and businesses were given financial and obligatory relief to see them through the first recession Australia had seen for nearly 30 years. Businesses were assisted into hibernation through stimulus measures including the JobKeeper Program…
Business structures that involve a family trust either as shareholder of a trading entity, or the trading entity itself, still present highly effective strategy when it comes to minimising tax across a family unit.
Enrolment for JobKeeper Payment opens on 20th April 2020 and must be completed by 30th April 2020 to claim JobKeeper payments for April.
With large numbers of people now working from home due to the Coronavirus Pandemic, the ATO is introducing the following shortcut method for related tax deductions:
Today the government has announced that a “Mandatory Code” will be introduced to assist businesses through the Covid-19 crisis.
One of the questions the accounting profession is receiving after the “Cash Flow Booster” Stimulus Update was delivered, was whether it would be a good time to “implement a wage” or “increase wages”.
Read my summary of yesterday’s stimulus announcement – the JobKeeper Payment being the section that will impact our business clients.
As many of our customers are in trades and field services, I felt that some clarity around the Apprentice subsidy part of the Stimulus Package would be useful.
The government’s delivery of the Stimulus Package has been confusing to say the least and we now have some clarity finally. Here is what you need to know.