Taxation

October 2020: New JobKeeper Rules, Conditions & Rates

Find Out More The JobKeeper scheme has been extended, and there are some important changes that participants will need to know. In good news, the treatment of JobKeeper income has been clarified.  We also look at two further data matching programs that have been launched, smooth concerns some may have had over the easing of …

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October 2020: Federal Budget

Find Out More We all understand that budgets are an exercise in predicting the future. Given what has happened in 2020, gazing into the crystal ball and extracting something reliable is fraught with difficulty. Extensions to the tax rate thresholds will give millions of taxpayers on lower incomes a much-needed boost after a very challenging year. The temporary full …

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September 2020: COVID-19 Payments and some issues for companies and trusts

Find Out More Payments such as JobKeeper and the cash flow boost are measures welcomed by many, however they can also bring with them some unique taxation issues. We run over what to look for. Also tackled are claiming tax losses, where vehicles stand in relation to the boosted instant asset write off, the question …

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May 2020: Answers to COVID-19 work from home expense questions and CGT concerns

The dominating factor in all our lives at the moment is of course COVID-19. We look at issues that may change the normal deductions taxpayers can make for working from home, plus examine details of the new JobKeeper scheme that both employers and employees will need to know. There is also the early release from …

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Arpil 2020: Covid-19: Your stimulus and rescue package explained

  The overwhelming issue of the day is of course the coronavirus. The government’s stimulus package launched in response to the crisis is welcome. We spell out what this means for different taxpayers, and how the measures will work.  Also in this issue we examine the superannuation guarantee amnesty, an interesting quirk of the FBT rules regarding e-bikes, …

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March 2020: ATO dusts off the ‘lifestyle asset’ microscope

If you own certain high-end assets, it may be prudent to make sure your tax affairs are in order. The ATO has asked dozens of insurance companies for policy details over certain asset values to check up on these taxpayers’ tax obligations. We also look at the realities of accessing some of your retirement savings early, …

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