Covid-19 Updates

COVID-19 And SMSF Rental Relief

By Wen Wen / September 15, 2020

Moratorium on evictions 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 means that […]

COVID-19 Update: Adding Newly Eligible Employees To JobKeeper

By Wen Wen / September 2, 2020

The ATO has issued guidance on JobKeeper Payment and added newly eligible employees for August 2020 JobKeeper fortnights Nominating new employees These new employees must have been employed on 1 July 2020 and meet other eligibility criteria. This can include employees that: were employed after 1 March 2020, or were employed on 1 March 2020 and […]

The JobKeeper Payment will now continue to be available to eligible businesses until March 2021.

New Updates On The JobKeepers Payment

By Wen Wen / August 9, 2020

The JobKeeper payment rate will be reduced The JobKeeper payment, which was originally due to end after 27th September, will now continue to be available to eligible businesses (including the self-employed) until 28 March 2021. However, there are some changes to consider. New JobKeeper rates The JobKeeper payment rate of $1,500 per fortnight for eligible […]

The ATO is providing flexible PAYG instalments to taxpayers experiencing financial difficulty as a result of COVID-19.

Varying PAYG Instalments Because Of COVID-19

By Wen Wen / July 21, 2020

What is the PAYG Instalments system? PAYG instalments is a system that helps you manage your expected tax liability on income from your business or investments for the current income year by making smaller, regular payments. To assist taxpayers experiencing financial difficulty as a result of COVID-19, the ATO is providing added flexibility to manage […]

COVID-19 Instant Asset Write Off And Accelerated Depreciation

By Wen Wen / June 5, 2020

Instant asset write off provisions While many of the COVID-19 stimulus changes such as the JobKeeper payment are grabbing headlines, it is easy to overlook the significance of the $150,000 instant asset write off provisions. The key changes for the instant asset write off include the following: Certain business entities can access an immediate deduction […]

Changed Conditions For Covid-19 For Temporary Visa Holders

By Wen Wen / May 18, 2020

The government has made a number of changes to temporary visa holder arrangements during the COVID-19 crisis. The Department of Home Affairs says these measures have been made to protect the health and livelihoods of Australians, to support critical industries, and to boost recovery afterwards. Home Affairs records show that there are 2.17 million temporary […]