FBT and vehicles under COVID-19 restrictions
Have your employees been garaging work cars at their homes due to COVID-19? See the ATO’s clarification of what affects this will have on employer fringe benefits tax (FBT) obligations
Author: Rosie Squibb
5 Mistakes to avoid with SMSF annual returns
The ATO has compiled a cautionary list of the top five errors committed by SMSF trustees when lodging their annual tax return.
JobKeeper amendments from 28 September
Businesses will now need to meet one of the decline in turnover tests for the September 2020 quarter alone to be eligible for JobKeeper for the period 28 September 2020 to 3 January 2021
Rental property adjustments for COVID-19
The COVID-19 pandemic has placed many property owners, and tenants, in unfamiliar territory. We look at the implications for short-term and permanent rental deductions & common mistakes.
JobKeeper scheme is updated and extended
The JobKeeper payment will now continue to be available until 28 March 2021. However, there are some changes to consider.
ASIC re-plans its regulatory work because of COVID-19
The Australian Securities and Investments Commission (ASIC) had foreshadowed that it will make changes to its regulatory work and priorities to allow it to focus on the impact of COVID-19.
Instant asset write off extended
The boost to the instant asset write off rules that the government put in place to help stimulate the Australian economy has been extended to the end of this year.
Varying PAYG instalments due to COVID-19
To assist taxpayers experiencing financial difficulty as a result of COVID-19, the ATO is providing added flexibility to manage your instalments to suit your circumstances.
Tax return tips & the information you need
Before going over your tax return, here’s the information that will be needed, as well as tips on which deductions you can claim.
Indexation of tax instalments suspended for 2020-21
Due to the COVID-19 health crisis, more support for taxpayers comes in the form of a suspension of the indexation of tax instalments for the 2020-21 income year.