Category Uncategorized

11
Nov

Phone Line Issues – New Contact Number For Our Office

Phone Line Issues – New Contact Number For Our Office Good Morning, We are aware of an issue currently affecting our usual phone lines to the Office for which we greatly apologise. Please use 07 5675 7500 to contact our Office until these issues are resolved. We thankyou for your patience.  Yours Sincerely, 

14
Oct

Instant Asset Write-Off – No Value Limit – Budget 2020

Instant Asset Write Off Update – Budget 2020 Good Morning, One of the biggest value items in the Government’s October Budget is the inclusion of an immediate tax deduction for the full value of most depreciable assets over the next two years. For businesses with under $50m in turnover this includes second-hand equipment purchased. This …

14
Oct

PAYG Tax Table Updates 2020

Changes to Individual tax rate cuts announced in the Federal Budget have been passed by parliament and will apply to wages made from 13 October 2020. Employers have until 16 November 2020 to adjust their payroll processes and datafiles to reflect the new withholding amounts. The ATO have incorporated the new thresholds within the withholding schedules …

7
Oct

Federal Budget:JobMaker and New Apprentices Incentives Announced

JobMaker Hiring Credit and Boosting Apprenticeship Commencements The Federal Budget was released Tuesday night with many measures much needed to stimulate the economy. Highlights include the JobMaker Hiring Credit and the Boosting Apprenticeship Wage Subsidy: JobMaker Hiring Credit For each new job created, an employer will be able to claim $200 a week for a new employee …

23
Sep

JobKeeper V2 Alternative Test Methods Released

Good Morning, Legislation has just recently passed for the new “V2 JobKeeper” rules in relation to the Alternative Tests which become available today. Employers will need to re-apply for the JobKeeper extension whereby broadly speaking, they would satisfy the ‘Basic Test’ by comparing the September 2020 Quarter GST Turnover to the same 2019 quarter and …

3
Sep

JobKeeper V2 – Make Sure You’re Prepared!

Under the new “V2 JobKeeper” rules, many businesses may no longer be eligible for the wage assistance. The Federal Government has now passed legislation that will assist some of those businesses in managing their staff hours, in an effort to keep more people employed without providing cash assistance. In summary, if the business’ turnover has …

31
Aug

Superannuation Guarantee Amnesty Deadline

The Superannuation Guarantee Amnesty deadline is fast approaching. On the 6th of March 2020, the Australian Government introduced the Amnesty which allowed employers to disclose and pay previously unpaid employees superannuation for any period prior to 31 March 2018, without penalty from the Australian Taxation Office (ATO). The Amnesty ends on the 7th of September 2020. …

18
Aug

Important update for JobKeeper eligible businesses – Changes as of Monday the 3rd of August

Good Morning, The Federal Government announced Friday that the employment test under stage 2 of the JobKeeper stimulus have come into effect early. This means that you may have employees that are now eligible for JobKeeper and the following needs to be done quickly: JobKeeper nomination form to be completed by the employee by Friday …

7
Aug

Updated JobKeeper Information – JobKeeper 2.0 update.

As you may have heard the Federal Government has today formally announced a softening of the JobKeeper tests and eligibility requirements for the second period of the stimulus. We still expect several changes and more detail to become available between now and Sept 27/28th. A quick update of the news confirmed today to keep everyone …

21
Jul

Important update to the JobKeeper program announced today

There has been an announcement today that the Government will extend the JobKeeper payment by a further six months to 28 March 2021 at a lower payment rate for eligible businesses with eligibility re-tested in October and early January 2021, based on actual turnover decline. A summary of the changes is below: EligibilityFrom 28 September …

Page 1 of 2

Scotia Online CIBC Online