Australian Tax Office ATO Archives - Page 3 of 5

Extension of the JobKeeper Payment

July 22, 2020/in COVID-19 Resources, Payroll /by Salisbury Accountants & Business Advisors

The Government is extending the JobKeeper Payment by a further six months to March 2021

Support will be targeted to businesses and not-for-profits that continue to be significantly impacted by the Coronavirus.

The payment rate will be reduced and a lower payment rate will be introduced for those who work fewer hours. Other eligibility rules […]

ATO allowances on late lodgement and penalties

June 15, 2020/in COVID-19 Resources, Tax Planning /by Salisbury Accountants & Business Advisors

Lodgement due date for all tax returns denied

An extension was requested in light of the extra COVID-19-related issues many business owners have worked through, including setting up employees for JobKeeper and accessing the government’s stimulus package.

However the ATO Deputy Commissioner replied: “We recognise and appreciate your efforts to help your clients meet their […]

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 […]

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 […]

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.

[…]

JobKeeper scheme legislation achieves royal assent

April 9, 2020/in COVID-19 Resources /by Salisbury Accountants & Business Advisors

JobKeeper scheme legislation achieves royal assent

Legislation to establish the JobKeeper scheme of wage subsidies in the form of payments made via employers has passed both houses of Parliament and has achieved royal assent.

The bills concerned (the Coronavirus Economic Response Package (Payments and Benefits) Bill […]

Shortcut method for claiming home office running costs

April 7, 2020/in COVID-19 Resources /by Salisbury Accountants & Business Advisors

Shortcut method for claiming home office running costs

ATO announces short cut method for claiming home office running costs

The Australian Taxation Office (‘ATO’) has announced a temporary simplified short cut method to make it easier for individual taxpayers to claim deductions for additional running expenses incurred (e.g., additional heating, cooling and lighting costs), as […]

Fringe Benefits Tax 2020

April 6, 2020/in Tax Planning /by Salisbury Accountants & Business Advisors

What every employer needs to know about fringe benefits

On 31 March 2020, the Fringe Benefits Tax (FBT) year ends. With the ever-increasing budget deficits, the ATO will be reviewing whether all employers who should be paying FBT are, and that they are paying the right amount.

To help you meet your fringe benefits obligations, […]

Coronavirus Jobkeeper Payment

March 31, 2020/in COVID-19 Resources, Payroll /by Salisbury Accountants & Business Advisors

Federal Government offers $130b in coronavirus wage subsidies for businesses to pay workers

The Government has announced a $130 billion JobKeeper payment to help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus.

Around 6 million workers will receive a fortnightly payment of $1,500 (before tax) […]

Support measures to assist those affected by COVID-19

March 12, 2020/in COVID-19 Resources, Tax Planning /by Salisbury Accountants & Business Advisors

Options available to assist businesses impacted by COVID-19

The Australian Taxation Office (ATO) will implement a series of administrative measures to assist Australians experiencing financial difficulty as a result of the COVID-19 outbreak.

Commissioner of Taxation Chris Jordan is encouraging businesses impacted by the coronavirus to get in touch with the ATO to discuss relief […]

Posts

The Government is extending the JobKeeper Payment by a further six months to March 2021

Support will be targeted to businesses and not-for-profits that continue to be significantly impacted by the Coronavirus.

An extension was requested in light of the extra COVID-19-related issues many business owners have worked through, including setting up employees for JobKeeper and accessing the government’s stimulus package.

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

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

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

Legislation to establish the JobKeeper scheme of wage subsidies in the form of payments made via employers has passed both houses of Parliament and has achieved royal assent.

ATO announces short cut method for claiming home office running costs

On 31 March 2020, the Fringe Benefits Tax (FBT) year ends. With the ever-increasing budget deficits, the ATO will be reviewing whether all employers who should be paying FBT are, and that they are paying the right amount.

The Government has announced a $130 billion JobKeeper payment to help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus.

The Australian Taxation Office (ATO) will implement a series of administrative measures to assist Australians experiencing financial difficulty as a result of the COVID-19 outbreak.