COVID-19 Cash Flow Boost Example #2

In this video, John Jeffreys, Tax Counsel of Tax & Super Australia gives a second example of how the cash flow boost operates in practice. In the example, the employer has PAYG withholdings of greater than $10,000 in a quarter but less than $50,000.

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The new JobKeeper wage subsidy package

The government announced at the end of March a further massive subsidy for businesses to help them retain employees so they are ready to get back to business when the current coronavirus issues subside.  The new subsidy is called a JobKeeper payment. The key things to note about this are: The payment will be made

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JobKeeper Subsidy

In this video, John Jeffreys, Tax Counsel of Tax and Super Australia explains the JobKeeper (not JobSeeker) subsidy that was announced by the Federal Government on 30 March 2020.

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Free webinar recording: COVID-19 stimulus package

There is confusion, and some anger, over the way the package operates for businesses. In this webinar, John Jeffreys, Tax Counsel of Tax & Super Australia, explains the package and answers your questions.  Cov\ered in the free webinar recording below: Full details of the “cash flow boost” – who gets it, how much, and when

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COVID-19 stimulus package explained: Tax team special commentary

A legislative package has been pushed through Parliament which contains a number of bills that implement the government’s economic response to the spread of the coronavirus. The relief package of bills consisted of eight separate bills. The legislation has now passed both houses of parliament. Instant asset write-offThe income tax law was amended to increase

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TSA calls for SG amnesty to be extended as COVID-19 overwhelms employers

Tax & Super Australia (TSA) has called for the recently legislated Super Guarantee (SG) amnesty to be extended for at least a further six months to give employers whose businesses have been impacted by the COVID-19 pandemic time to re-group. “Time is already ticking down for employers, with the six-month amnesty period having started on

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5 minute tax updates: 24-28 February

TPB is reviewing its CPE policy and directionCGT changes to the principal asset testOECD’s transfer pricing guidance on financial transactionsFirst 2020 tax professionals webcast recording availableNet drawn around global tax evaders; arrests madeElectronic commerce interface to be decommissionedUpgrades at ATO gives more results with account offsettingDefault assessment and penalty objected to, disallowedGerman national’s 263 days

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Transition from AUSKey to myGovID: All you need to know

What needs to be doneHow to make the transitionCurrent experience (help is at hand — also see ‘ATO assistance’ below)Some common myths (incumbent system, phone types, phone costs, ex-employee access)The big issues (access, mobile phones, lost & replaced phones, deductibility, FBT, overseas staff)ATO assistance (useful links, factsheet, helpful videos) There is one very important and

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