TNR Financial Times Summer 2021 Please click the following image for the latest TNR Financial Times Please contact TNR if you have any queries related to the items raised in this issue. Important: The information contained in this post / article is not advice. Readers should not act solely on the basis of material contained
COVID-19 JobKeeper Extension | Phase 2 From 4 January 2021, businesses and not-for-profits should reassess their turnover to be eligible for the JobKeeper Payment. This extension period will run from 4 January 2021 to 28 March 2021. To be eligible, businesses and not-for-profits will be required to demonstrate that their actual GST turnover has significantly
The investment option that can hide unexpected GST New residential property is a popular investment for many, and can be especially so for self-managed superannuation funds, however the ATO is concerned that not every investor in residential property is fully aware that it is an option that may bring with it unexpected GST obligations. The
What the “full expensing” write-off deduction means for business The Federal Budget measure of allowing businesses to fully write-off eligible assets is a boon to Australian businesses, even though the measure is temporary. Just to recap, businesses with aggregated annual turnover of less than $5 billion will be able to deduct the full cost of
HLB Cybersecurity report 2020 In light of COVID effecting how we work moving forward – attached is a Cybersecurity report highlighting some areas for consideration in regards the changing work environment. The report is produced by the global HLB Network of Firms of which TNR is a member. Please contact your TNR Partner if you would
The art of downsizing The kids have finally left home and now you’re rattling around in a house way bigger than you need. If it’s time to think about downsizing, there’s more to it than simply selling one house and buying another. Here are a few things to consider. Tax-free gain Selling a large house
Quarterly Economic Update: July-September 2020 COVID-19 remained the big story of the last quarter. Tragically, by the end of September the pandemic had caused over one million deaths. That was up by 500,000 since the end of the previous quarter, and many countries were experiencing devastating ‘second waves’. While most of Australia managed to keep
Making the most of low interest rates Banks have not been passing on the full reduction in the Reserve Bank’s official cash rate, but no one knows with any certainty, what the future holds for rates and to what extent. Most predictions are that they will remain at the low end for some time to
TNR Federal Budget Alert 2020 For detailed summary of the Federal Budget released 6th October 2020 please refer Budget Please contact TNR if you have any queries related to the items raised in the 2020 Budget document. Important: The information contained in this post / article is not advice. Readers should not act solely on
COVID-19 and SMSF rental relief The Federal Government announced a six-month moratorium on evictions of commercial and residential tenants during the COVID-19 health pandemic. This moratorium (and its accompanying code of conduct leasing principles) will inevitably affect SMSFs, which are reasonably heavily invested in real property, according to statistics. Leasing principles A moratorium on evictions
Where you stand with vehicles and the boosted instant asset write off The extension of the instant asset write-off from $30,000 to $150,000 until 31 December 2020, as part of the Federal Government’s COVID-19 stimulus measures, provides an opportunity to look at its application to motor vehicles. Note that in addition to the higher write
COVID-19 and trust liquidity issues The ATO has highlighted the fact that due to COVID-19, a trustee may experience liquidity issues that may affect a trust’s ability to satisfy a beneficiary’s entitlement. This may happen where financial institutions impose restrictions that affect the way a trustee can deal with its assets. “For present entitlements conferred