The Inspector-General and Taxation Ombudsman (IGTO) reports that its office has received an influx of complaints regarding eligibility for JobKeeper and Boosting Cash Flow payments.
The ATO has announced that it will allow extensions to the repayment period for borrowers who are unable to make their minimum yearly repayment by the end of the lender’s 2019-20 income year.
As a result of travel restrictions during the pandemic, the ATO has established some temporary protocols to cover the necessary changes in procedures foreign incorporated companies have had to make.
The ATO reports that it is receiving notifications of email scams about JobKeeper and backing business investment claims. Read these important 7 tips on ways to keep your business safe.
The ATO states in its latest update to the rules around reg 8.02B that it will not impose penalties if it is satisfied that SMSF trustee finds it difficult to obtain the required valuation evidence for fund assets due to the impacts of COVID-19.
The extension of the JobKeeper scheme is now based on current GST turnover, not projected turnover. See if you should apply for an alternative turnover test.
The ATO has clarified its position regarding loans and states that “allowing more time to replay a debt due to COVID-19 will not result in the debt being treated as forgiven.”
The NSW Government’s changes to surcharges for ‘foreign persons’ for duty and land tax are now law and apply to NSW residential land held by discretionary trusts.
JobKeeper rules and payment rates have changed, including the decline in turnover test now being based on actual GST turnover. We breakdown what businesses need to know to re-test their eligibility.
The government’s moratorium on evictions of commercial and residential tenants during the COVID-19 health pandemic is likely to affect SMSFs that are invested in property.