Covid-19 Updates

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 […]

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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 […]

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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 […]

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Covid-19 Support Grant for small businesses

Covid-19 Support Grant For Small Businesses

By Wen Wen / April 20, 2020

Small businesses and non-profit organisations The NSW Small Business COVID-19 Support Grant of up to $10,000 is available to eligible NSW small business owners and non-profit organisations. The application form is now live, as of Tuesday April 14, 2020. Small businesses highly affected by the Covid-19 outbreak This grant supports the ongoing operations of small […]

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Claiming tax deductions for employees working from home because of covid-19

Tax Deductions When Working From Home Because Of COVID-19

By Wen Wen / April 13, 2020

Are you an employees working from home? As the situation around COVID-19 continues to develop, you may now be working from home and you may incur expenses that you can claim at tax time. To claim a deduction for working from home, all of the following must apply: You must have spent the money The […]

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The Federal Government announces the new jobkeeper wage subsidy package

The Federal Government Announces The New JobKeeper Subsidy Package

By Wen Wen / April 6, 2020

The government announced a new subsidy package for businesses The government announced at the end of March a further massive subsidy for businesses to help them retain employees so they are ready to get back to business when the current coronavirus issues subside. The new subsidy is called a JobKeeper payment. The key things to […]

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