Entries by Salisbury Accountants & Business Advisors

Small and medium business employers to receive cash flow relief

April 22, 2020 in , /by

Small and medium businesses will be entitled to a “credit” for PAYG tax withheld on their March and June quarter activity statements.

This updated Government Coronavirus Stimulus Package will be delivered tax-free in the form of a grant.

The reduction of cash outflows is designed to assist employers in keeping their staff.

As per the […]

COVID-19 Cash Flow Boost

April 21, 2020 in /by

Boosting Cash Flow for Employers

Cash Flow Boost not to be offset against existing tax debt in some situations.

The Tax Office has announced that the cash flow boosts will be applied to reduce liabilities arising from the same activity statement but will not be offset against existing BAS debt but rather refunded to you.

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COVID-19 work-from-home expense FAQs

April 21, 2020 in /by

The ATO issues specific guidance addressing common questions

Many of our clients have questions about claiming expenses when forced to work from home over the COVID-19 period.

The accounting profession has also reported other clients coming to them with concerns about any consequent capital gains issues when later selling a property from which they had […]

Key COVID-19 measures by State and Territory

April 20, 2020 in /by

Australian State and Territory economic relief and stimulus package summaries

In response to the coronavirus (COVID-19) pandemic currently impacting the economy and businesses generally, each Australian State and Territory Government has announced relief and other support packages as part of the broader economic stimulus measures.

To assist our clients, the NTAA has prepared the following […]

Accessing Coronavirus supplement payment for sole traders and casuals

April 16, 2020 in , /by

The federal government has expanded eligibility access to social security payments in response to the economic fallout from COVID-19.

Any person, whether a sole trader, casual, full-time or contract worker will become immediately eligible for payments should that meet the relevant income tests.

This includes an additional $550 per fortnight Coronavirus supplement payment.

The Coronavirus […]

Apprenticeship Support Australia

April 15, 2020 in /by

Supporting the development of skills labour across the country

The Australian Government provides a range of financial incentives and benefits to employers and Australian Apprentices.

Here is a snapshot of what businesses may be eligible for: Standard incentives Workers Compensation exemption Extra incentives to assist in the employment of those with a disability, mature aged, […]