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 …


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 …


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. …


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 …


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 …


Qld Government Small Business Adaption Grant Program – Stage 2

The Queensland Government has announced an extension to the Small Business Adaption Grant Program. Up to $100 Million is being made available to deliver a second round of grants. The objective of the program is to support small businesses that were subject to closure or highly impacted by the COVID-19 shutdown restrictions. The program aims to …


Update to Instant Asset Write-Off Scheme $150,000

Update to Instant Asset Write Off Scheme $150,000 Good Afternoon, The Federal Government has just announced that the $150,000 instant asset write-off program has been extended to the 31st of December 2020. This is applicable for businesses with turnover of up to $500 million. The instant asset write-off scheme enables businesses to immediately claim the value …


Jobs For June – Important End of Financial Year Preparations

Below are a few recent issues we wanted to make you aware of. All of these are important so if you are unsure about anything please contact us. You need to complete your monthly declaration on the ATO portal in order to receive the next round of JobKeeper payments. This needs to be completed no …


Small Business COVID-19 Adaption Grant Program and Workcover Declarations

Qld Government Adaption Grant Program The Queensland Government have announced a new Small Business COVID-19 Adaption Grant Program and applications are open now. Full details can be found on the Qld Government website here – A quick overview of the grant is as follows: Objective – support small businesses subject to closure/highly impacted by the covid-19 …

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