COVID-19 Resources Archives - Page 5 of 7

Small business employers of apprentices to get stimulus package

May 1, 2020/in COVID-19 Resources, Payroll /by Salisbury Accountants & Business Advisors

Small businesses who employ less than 20 people will receive up to $7,000 per quarter for three quarters to keep their apprentices

This payment is a stimulus payment as a result of an expected national economic downturn in the first half of 2020.

It is expected that these payments will be received via the Australian […]

Temporary visa holders: Changed conditions for COVID-19

April 30, 2020/in COVID-19 Resources /by Salisbury Accountants & Business Advisors

Changes to temporary visa holder arrangements during COVID-19 crisis

The Department of Home Affairs says measures have been made to protect health and livelihoods of Australians, to support critical industries and boost recovery.

Home Affairs records show that there are 2.17 million temporary visa holders in Australia at present. This includes about 8,000 medical professionals, […]

Instant asset stimulus package for 2020 purchases

April 29, 2020/in COVID-19 Resources, Tax Planning /by Salisbury Accountants & Business Advisors

The instant asset write-off will be available for the majority of businesses during some part of the 2019/20 income year

Between 12 March 2020 to 30 June 2020, businesses with up to $500m in turnover will get an instant asset write-off for assets first installed and ready for use under $150k.

In the legislation, the […]

Extension of time to enrol for the JobKeeper scheme

April 28, 2020/in COVID-19 Resources /by Salisbury Accountants & Business Advisors

JobKeeper Payment

The Tax Commissioner has extended the time to enrol for the initial JobKeeper periods, from 30 April 2020 until 31 May 2020.

If you enrol by 31 May you will still be able to claim for the fortnights in April and May, provided you meet all the eligibility requirements for each of those fortnights. This includes having […]

JobKeeper payments update

April 27, 2020/in COVID-19 Resources /by Salisbury Accountants & Business Advisors

Salisbury Accountants JobKeeper support

JobKeeper enrolments started last Monday 20 April with the registration deadline extended to 31 May 2020.

There has been a hive of activity around the JobKeeper payment and, with a week under our belts, we are able to debunk the myths and misconceptions of how the scheme works.

The subsidy will be […]

Tax relief for businesses affected by COVID-19

April 23, 2020/in COVID-19 Resources, Tax Planning /by Salisbury Accountants & Business Advisors

Businesses affected by COVID-19 can now access support from the ATO on managing their tax affairs

The ATO will allow deferrals of payments for 6 months for income tax, activity statements, FBT and excise payments.

Also, affected businesses will be able to apply for remission of interest and penalties.

Affected businesses are being encouraged to […]

Small and medium business employers to receive cash flow relief

April 22, 2020/in COVID-19 Resources, Grants /by Salisbury Accountants & Business Advisors

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 COVID-19 Resources /by Salisbury Accountants & Business Advisors

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.

[…]

COVID-19 work-from-home expense FAQs

April 21, 2020/in COVID-19 Resources /by Salisbury Accountants & Business Advisors

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 […]