2/11/2020

Our latest TaxWise Business newsletter is now available. Topics covered include; Budget measures now law, JobKeeper updates, what has the ATO been up to? tax tips, ABN details, business structures, superannuation and key tax dates. PrincipleFocus-TaxWise-Business-News-November-2020Download

21/9/2020

The following changes will apply to JobKeeper fortnights commencing 28 September 2020. Key changes Actual decline in turnover test: For JobKeeper fortnights from 28 September 2020 you will need to meet an actual decline in turnover test. An actual decline in turnover test will need to be met for each extension period: Extension 1: from…

3/9/2020

Our latest TaxWise Business newsletter is now available. Topics covered include; Changes to JobKeeper, Cash flow boost changes, Superannuation guarantee amnesty expires soon, Tax changes, Scammers and Key tax dates. PrincipleFocus TaxWise Business Newsletter - September 2020Download

2/9/2020

Our latest TaxWise newsletter is now available. Topics covered include; JobKeeper updates, Cash flow boost changes, COVID-19 early release of Superannuation, Income Tax Returns, Scammers and Key tax dates. PrincipleFocus TaxWise Individual News - September 2020Download

10/8/2020

Earlier this month the Federal Government announced a key change to the JobKeeper employee eligibility requirements. From 3 August 2020, workers employed from 1 July 2020 and meet the other eligibility requirements will become eligible for JobKeeper. The ATO has now released further information on this change, and details of how it will be administered.…

5/6/2020

If you are claiming the JobKeeper payments, you are required to complete a business monthly declaration with the ATO. You must do this in the first 14 days after the month you are claiming for.The ATO will ask you to re-confirm the business participant details and your eligible employees (ensuring they’ve been paid at least…

4/5/2020

The next steps in the JobKeeper enrolment process are now open on the ATO business portal. Step 1: needs to be completed by 31 May in order to claim JobKeeper payments for the initial JobKeeper periods (the fortnights ending in April and May).The additional steps that are now open are:Step 2: Identify and maintain your eligible…

24/4/2020

Most farmers currently have no substantial turnover but still highly likely to have had an increase in turnover from last due to coming out of a drought,  which up until now has taken them out of the COVID19 JobKeeper program. However, we now have the opportunity to look at pre drought incomes, e.g. 2018 or 2017…

7/4/2020

$130 Billion Wage Subsidy Legislation PassedParliament has endorsed the Federal Government's $130 billion COVID-19 economic relief package which will be delivered over six months to businesses to support staff through a Job Keeper $1,500/fortnight wage subsidy.After passing through a reduced House of Representatives yesterday afternoon, the Senate passed the $130 billion wage subsidy legislation that…