Toyota returns $18m in JobKeeper payments

 

The Japanese car manufacturer has confirmed it has approached the ATO to return more than $18 million in JobKeeper payments after a spike in sales towards the end of last year.

 

How Australians are taking advantage of income tax cuts

 

New research has offered insight into how Australians intend to save the gains generated from income tax cuts rolled out in this year’s federal budget.

 

Small-business coronavirus grants set to be income tax-free under new bill

 

A new bill that ensures state and territory grants issued in response to the coronavirus pandemic are not subject to income tax has now been introduced.

 

ATO extends JobKeeper deadlines ahead of Christmas

 

JobKeeper deadlines for the second extension period have now been extended by the ATO ahead of the festive season.

 

Super, death, and taxes

 

An interesting finding in the federal government's Retirement Income Review report is that many Australians are dying with the majority of the wealth they had when they retired.

 

JobMaker hiring credit given green light despite ongoing concerns

 

A Senate committee has recommended that the JobMaker hiring credit legislation be passed, despite concerns over its narrow eligibility and lack of protection for older workers.

 

FBT – Christmas Parties and Taxi Fares

 

Some employers, who are commendably anxious to protect their employees and clients from the drink/driving laws, also pay for taxis to and from the place of entertainment.

 

Employee Christmas Parties and Gifts – Any FBT?

 

The Christmas break-up party and/or gifts to employees can be exempt from Fringe Benefits if a few rules are followed.

 

Victorian State Budget Overview 2020 – 2021

 

On Tuesday 24 November, the Victorian Treasurer, Tim Pallas announced the 2020-21 budget, detailing a number of measures focused on creating jobs, supporting families and helping small to medium businesses.

 

2020 is coming to an end. Phew!!

 

Some fireworks and a great Advent Calendar to help you celebrate.  On behalf of all our staff we wish our clients and their families a Merry Christmas, a Happy New Year and a great holiday period.

 

$120m in JobKeeper clawed back by ATO, new compliance areas highlighted

 

About $120 million in JobKeeper payments have been recovered by the ATO due to businesses making deliberate or reckless mistakes, as fresh guidance on its JobKeeper extension compliance focus lands.

 

‘Follow the spirt of the law’, warns ATO

 

The Australia Taxation Office has cautioned businesses against taking advantage of the government’s most recent expanded asset write-off scheme and the new loss carry-back provision.