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.
In this video, John Jeffreys, Tax Counsel of Tax & Super Australia explains how the first and second cash flow boosts apply to a small business that employs two casual employees.
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
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.
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
In this video, John Jeffreys, Tax Counsel of Tax and Super Australia sets out an example of the ability to claim the new instant asset write-off that became law from 12 March 2020 as part of the COVID-19 response by the Federal Government. It demonstrates how a small business that purchased an asset in January
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
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
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
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