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Category Archive - Business Tax

Don’t Let Your ATO Communications Fall Through the myGov Crack 

written by:
Darren Hagarty


With many of our clients now having a myGov account, we thought it worthwhile to recap on the interaction between myGov and the way in which ATO communications are streamed between you and us. If you have a myGov account and have linked it with the ATO, then most of your ATO mail will be sent directly to your myGov Inbox, rather than through the post.  The types of ATO communications you…

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The JobMaker Hiring Credit

written by:
Josh McMullen


Employers now have more incentive to employ workers under 35 with the JobMaker Hiring credit legislation recently becoming law. The credit is designed to improve the prospects of young individuals getting employment following the devastating impact of COVID-19 on the labour market. Overview The scheme is backdated to commence on 7 October 2020 and provides eligible employers with the following payments for up to 12 months for new jobs created…

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Federal Budget 2020 Wrap

written by:
Josh McMullen


The 2020 Federal Budget was handed down on Tuesday 6 October. Following is a summary of the headline measures. BUSINESS Extension of the Instant Asset Write-Off – businesses with aggregated annual turnover of less than $5 billion will be able to deduct the full cost of eligible capital assets acquired from 7:30pm AEDT on 6 October 2020 (Budget night) and first used or installed by 30 June 2022. “Full expensing”…

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JobKeeper Extension – A Cook’s Tour

written by:
Darren Hagarty


The final rules for the extension of JobKeeper were handed down by Treasury last week, with further guidance to be released before the end of this month. A summary of the key aspects follow. Employer Eligibility From 28 September 2020, businesses seeking to continue to claim JobKeeper will be required to re-assess their eligibility. There is also an opportunity for businesses that have not previously claimed JobKeeper to enter the…

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Time is Almost Up for Super Amnesty

written by:
Josh McMullen


This week is the last chance for employers to use the super guarantee amnesty to catch up on past unpaid super, without incurring a penalty (of up to 200%) or paying administration fees. To be eligible for the amnesty: the unpaid super must be for a quarter between 1 July 1992 and 31 March 2018 you must not have already disclosed the shortfall to the ATO the ATO must not already be examining…

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JobKeeper Date Of Employment To Be Expanded

written by:
Darren Hagarty


On 21 July 2020, the Federal Government announced an extension of the JobKeeper scheme which was due to expire on 27 September 2020. JobKeeper 2.0, as it has been colloquially referred to, extends the scheme to 28 March 2021, but reduced payment amounts and fresh eligibility criteria will apply with effect from 28 September 2020. On 7 August 2020, further changes were announced to soften the eligibility criteria that will…

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