by Swot Accoountants | Jul 23, 2020 | Business News, Coronavirus (COVID-19), Tax & Compliance
On 21 July 2020, the government announced changes to the JobKeeper program and extended it through to 28 March 2021. Employers To be eligible from 28 September to 3 January 2021, the employer must measure decline using actual GST turnover in both the June and...
by Swot Accoountants | Jun 13, 2020 | Business News, Tax & Compliance
On the 9 June 2020, the government announced an extension of the instant asset write-off threshold of $150,000 to 31 December 2020. The extension will cost the government about $300 million and will be available to about 3.5 million eligible businesses. The extension...
by Swot Accoountants | May 28, 2020 | Business News, Tax & Compliance
From 12 March 2020, the instant asset write-off threshold was increased to $150,000 for eligible businesses. From 1 July 2020 however, the threshold will be significantly reduced to its legislated $1,000 for each asset. There are some exclusions and limits. If you’re...
by Swot Accoountants | Apr 25, 2020 | Business News, Coronavirus (COVID-19)
The ATO Commissioner has extended the enrolment time for the JobKeeper Payments from 30 April 2020 to 31 May 2020. If you enrol before the 31 May, you will be able to claim for the fortnightly periods starting 30 March 2020. You must make sure that your employees have...
by Swot Accoountants | Apr 7, 2020 | Business News, Coronavirus (COVID-19)
The Treasury has now released a guide on the yet to be legislated JobKeeper payments, including the eligibility criteria. Some examples: Partnerships – only one partner in a partnership can be nominated to receive the JobKeeper payments. Trusts – only one individual...
by Swot Accoountants | Mar 31, 2020 | Business News, Coronavirus (COVID-19)
The Prime Minister has unveiled his third and largest stimulus package to help up to 6 million workers, known as the JobKeeper payment. The flat payment of $1,500 per fortnight will be paid to businesses (companies, trusts, partnerships and sole traders) to pass on to...
