21 October 2020

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ATO Alert - Covid Affecting Car Fringe Benefits for Emplolyers

ATO Alert - Covid Affecting Car Fringe Benefits for Emplolyers

ATO Alert - COVID Affecting Car Fringe Benefits The ATO is warning employers to take care to avoid unnecessary FBT for car fringe benefits provided to employees. As a result of the COVID lockdown earlier this year, many employees have been working from home at a far greater rate.  If these employees have had the use of a car provided by their employer, the employer will need to check how they are calculating their fringe benefits, to avoid unnecessary FBT. With working from home beco...

8 October 2020

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JobKeeper - Easing Eligibility

JobKeeper - Easing Eligibility

JobKeeper - Easing Eligibility  More businesses and not-for-profits will be eligible for JobKeeper payment extension under a $15.6 billion change to the scheme announced on August 7. The Government initially outlined the JobKeeper extension guidelines on July 21, but says it needs to extend its criteria after the Victoria Government implemented stricter lockdowns across the state this week. Changes from 28 September The new rules mean that from 28 September, businesses need to ...

7 October 2020

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2020 Federal Budget - Building a Bridge to Recovery

2020 Federal Budget - Building a Bridge to Recovery

Building a bridge to recovery In what has been billed as one of the most important budgets since the Great Depression, and the first since the onset of the COVID-19 pandemic dragged Australia into its first recession in almost 30 years, Treasurer Josh Frydenberg said the next phase of the journey is to secure Australia's future. As expected, the focus is on job creation, tax cuts and targeted spending to get the economy over the COVID-19 hump. The Treasurer said this Budget, which...

15 September 2020

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Your Post-COVID Business Repair Kit

Your Post-COVID Business Repair Kit

With June 30 behind us and the economy slowly re-opening, most business owners are thinking about the challenge of repairing and rebuilding their finances after the COVID-19 lockdown. Over the next few months, key tests will come with the withdrawal of government stimulus measures like JobKeeper and the return of your normal wages, rent and financing expenses. An end to landlord rent deferrals and business loan repayment holidays, for those who had them, will make cashflow and debtor ma...

12 August 2020

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Super changes add flexibility

Super changes add flexibility

Just when you thought you had a grip on the superannuation rules, they change again. This time though, the changes are mostly positive, especially for older super members keen to top up their savings. From 1 July 2020, changes came into effect with the potential to help retirees as well as members suffering financial hardship due to the economic impacts of COVID-19. If you are not working you may be able to contribute to super for longer, while couples can take advantage of spouse contr...
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