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Posts by: Leanne

Snapshot: The JobKeeper Payment

Snapshot: The JobKeeper Payment

The JobKeeper payment is a subsidy of $1,500 per fortnight per eligible employee paid in arrears to the employer by the ATO. It’s for businesses that have suffered a detrimental decline in business because of COVID 19 to help keep their staff employed. To receive the JobKeeper payment, there are a series of eligibility criteria and reporting and notification obligations…read more →

JobKeeper Application Process

JobKeeper Application Process

The government has introduced a $130 billion JobKeeper Payment scheme to support businesses significantly affected by the coronavirus to help keep more Australians in jobs. The JobKeeper payment is open to eligible employers to enable them to pay their eligible employee’s salary or wages of at least $1,500 (before tax) per fortnight. Register your interest JobKeeper Payment

$10,000 grants to provide relief for NSW small businesses

$10,000 grants to provide relief for NSW small businesses

Thousands of small businesses across NSW struggling to cope with the COVID-19 shutdown will receive grants of up to $10,000 under a new assistance scheme announced on April 3rd by Premier Gladys Berejiklian, Treasurer Dominic Perrottet and Minister for Finance and Small Business Damien Tudehope. The NSW Government will put $750 million into the Small Business Support Fund as the…read more →

New working from home shortcut

New working from home shortcut

The Australian Taxation Office (ATO) is announcing special arrangements this year due to COVID-19 to make it easier for people to claim deductions for working from home. The new arrangement will allow people to claim a rate of 80 cents per hour for all their running expenses, rather than needing to calculate costs for specific running expenses. More Information New working from home…read more →

$1,500 JobKeeper subsidy to keep staff employed

$1,500 JobKeeper subsidy to keep staff employed

Date From 30 March 2020 for up to six monthsFor employees employed at and from 1 March 2020First payments in first week of May 2020 Applies to Based on comparable periods:Employers <$1 bn that have experienced a downturn of more than 30%Employers >$1bn that have experienced a downturn of more than 50% A subsidy of $1,500 per fortnight per employee, administered by…read more →

The Second $66.1 bn Stimulus Package: What you need to know

The Second $66.1 bn Stimulus Package: What you need to know

The Government released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws. The stimulus measures were legislated the day after Parliament reconvened on Monday 23 March. The Prime Minister has warned that…read more →

The Stimulus Package: What You Need To Know

The Stimulus Package: What You Need To Know

The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus. The yet to be legislated four part package focuses on business investment, sustaining employers and driving cash into the economy. For business Business investment Increase and extension of the instant asset write-off Accelerated depreciation deductions Cash flow assistance…read more →

Federal Budget Update

Federal Budget Update

The Federal Budget 2019/20 announced on 2 April 2019 has been described as a prelude to the ballot box. The Budget targets an underlying cash surplus of $7.1 billion in 2019/20. This follows an estimated deficit of just $4.2 billion in 2018/19. The Budget also sets out a surplus for the forward period including: An $11 billion surplus in 2020/21;…read more →

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