JobKeeper: what to do now Most businesses have now determined their eligibility for the JobKeeper payment, but with the scheme about to commence, the questions are turning to what steps are next to administer the claim. The ATO has clarified the process to claim for eligible businesses. The steps include: Register your interest and subscribe
TNR Year End Strategies 2019-2020 Please click the following graphic for the TNR 2019/2020 year end tax guide for you and your business. Subjects in this guide include: JobKeeper: what to do now Rent relief for commercial tenants 2020 end of financial year checklist COVID-19 employee considerations Major changes to instant asset write-off Working from
Reporting deadlines further extended for listed and unlisted entities For entities with 30 June balance dates, take note. In response to the challenges being, or to be, encountered by entities in meeting their financial reporting obligations due to the Coronavirus, the Australian Securities and Investments Commission (ASIC) has granted further lodgement relief – and this
Early release from super a relief, but comes with risks The government is allowing the early release of superannuation and a temporary reduction in minimum pension drawdown rates to help individuals deal with the adverse economic effects of COVID-19. Retirees watching their savings go down amid volatile markets will no doubt welcome the temporary reduction
On 22 April 2020, the Queensland Parliament’s Legislative Assembly passed the COVID-19 Emergency Response Act and the Residential Tenancies and Rooming Accommodation (COVID-19 Emergency Response) Regulation 2020. The Act and Regulation received assent on 24 April and the laws are now in effect. In broad terms, a range of measures to support the residential rental
Security online: More important than ever Communication over an online channel has certainly become the default these days, and dealing with the ATO is no exception. In fact the transition to online has plainly been developing over some years. More and more transactions and interactions are taking place, for example, over the government’s initiative myGov
The Taxation Commissioner has extended the enrolment period for the JobKeeper Payment scheme. It has been extended from 30 April 2020 until 31 May 2020. Businesses that enrol by 31 May are still eligible to claim for the fortnights in April and May, provided that they meet the eligibility requirements for the period. Be aware,
Individual or corporate trustee for your SMSF? When establishing a self managed superannuation fund (SMSF), one central decision to be made early on is if the trustee structure is to consist of individual trustees or a corporate trustee. Between these choices, you can have up to four individual trustees, or one company that acts as
JobKeeper payment enrolment In summary, the JobKeeper Payment provides a wage subsidy to businesses impacted by Coronavirus. The Government will provide eligible employers with $1,500 per fortnight per employee to help them retain workers through this period. We understand that during these unprecedented times you may require some additional assistance navigating the JobKeeper Payment eligibility
Authorising Documents & Expenditure in an Electronic World In an increasingly digitised world and with the impacts of COVID-19, the next natural step is for organisations to implement electronic approval processes (e-signing). We are beginning to see organisations commence the use of electronic signatures to sign documents and to authorise transactions. What are e-Signatures? Electronic
The Queensland Government has announced land tax relief measures in light of the effects of the coronavirus on landholders and tenants. What is the Land Tax Relief Available? Landowners may be entitled to one or more of the following relief measures: Land tax rebate – reduction in land tax liability of 25% for eligible properties
Employers get an amnesty for missed super payments It has been a long time coming, but a planned government amnesty for employers who have missed paying the superannuation guarantee (SG) to their employees has now become law. The amnesty was passed on 6 March 2020, and lasts until 7 September 2020. The amnesty allows employers