The ATO has reminded SMSF trustees that the COVID-19 relief and support offered to SMSFs ended on 30 June 2022.
As the economy emerges from COVID-19, the ATO is re-focusing on debt collection.
As Australia looks to get back to work and continue its recovery, the Temporary Full Expensing (TFE) measures are available to support business and encourage investment.
The pandemic has resulted in more employees working from home. This has resulted in such people claiming a range of deductions for various associated “running expenses”.
The financial year is almost over, but there are still effective strategies you may be able to put in place.
The Australian Government has made changes to the ATO’s insolvency framework to help more small businesses restructure and survive the economic impact of COVID-19.
The JobMaker Hiring Credit scheme was passed into law in mid-November 2020. JobMaker was part of the 2020-21 Federal Budget, and will operate until 6 October 2021.
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
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
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
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