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Know Everything About The Covid-19 Land Tax Relief Boost For Landlords And Tenants

As our Nation and States continue to battle the coronavirus pandemic and navigate our way through what seems to be a constantly changing landscape, our community are looking towards our government for direction and assistance. Under the State Government scheme, eligible landlords now can receive up to a 50% reduction on their 2019-20 land tax […]

Know Everything About The Year-end Tax Implications For Managed Funds, Investors (Covid-19)

There may be significant tax implications of year-end distributions from Australian managed funds because of the coronavirus (COVID-19) pandemic. High levels of equity market volatility and sharp movements in foreign exchange rates, particularly from March through to June 2020, have meant that many funds that were previously on track for a positive year-end performance have […]

Notification: Jobkeeper Payment Not Counted As Part Of Aggregated Turnover (Covid-19)

The Australian Taxation Office (ATO) clarified for employers that JobKeeper payments do not need to be included in the aggregated turnover of the taxpayer entities. The JobKeeper program was established to provide employment-related relief in response to the coronavirus (COVID-19) pandemic. The ATO clarification will be relevant when aggregated turnover is used by the taxpayer […]

Everything about Extended payroll tax relief in South Australia (COVID-19)

The South Australian government stated that it will extend its payroll tax relief for an additional three months until December 2020—a response to the economic consequences of the coronavirus (COVID-19) pandemic. Under the scheme, businesses with annual payroll (grouped) of up to $4 million will be granted an extra 3-month payroll tax waiver (worth approximately […]

What Is The New Land Tax Relief In South Australia- A Six-month Extension (Covid-19)?

The South Australian government announced on September 8, 2020, a six-month extension of the land tax relief measures provided for residential and commercial landlords affected by restrictions in response to the coronavirus (COVID-19) pandemic restrictions. The land tax relief is extended until 30 April 2021. Video link: https://www.youtube.com/watch?v=Ru12ilanHkA According to a release about the extended […]

What’s new in the federal and state government’s new COVID-19 relief package?

The federal and state governments announced in late September, various measures in response to the coronavirus (COVID-19) pandemic. They are collectively integrated by us for your convenience. Insolvency reforms for small businesses – Treasurer Josh Frydenberg stated that the federal government would undertake reforms to Australia’s insolvency framework as part of its COVID-19 economic recovery […]

Australia: ATO guideline on working-from-home expenses (COVID-19)

The Australian Taxation Office (ATO) has extended the date of effect of a practical compliance guideline for employees claiming deductions for “additional running expenses” incurred while working from home. The ATO practical compliance guideline (PCG 2020/3) addresses how to claim deductions for additional running expenses incurred while working from home because of the situation resulting […]

Government announces Special Tax Waivers for Victorians to beat Coronavirus

The State Government of Victoria has announced a range of tax waivers for Victorians reeling under Coronavirus lockdown. The Government through the Victoria’s State of Emergency will support businesses suffering losses and jobs affected due to Coronavirus pandemic through special tax waivers. Highlights Payroll tax waived for 2019-20 for small businesses Liquor licence fees waived […]

Second Economic Stimulus Brings Relief To Small Businesses Amid Looming Coronavirus Lockdown

Australian Government announced another $66 billion package to boost the economy that has hit a rough patch amid coronavirus pandemic. The economic package contains relief for small businesses, workers, households, job seekers and pensioners who have suffered a \ blow in these tough times. The Government braces the nation for the upcoming Coronavirus led lockdown […]