JobKeeper extension – changes implemented

 

The legislative instrument implementing the changes to the JobKeeper scheme over the extended period was registered on 15 September 2020.

 

JobKeeper Participants – are “workers”

 

Although JobKeeper has been in place for many months and is now scaling back, all eligible participants may not have enrolled. The program is targeted to workers in the broad sense.

 

Commissioner registers updated JobKeeper alternative tests

 

The Commissioner of Taxation has now released the updated alternative decline in turnover tests for the JobKeeper extension.

 

Varying Pay As You Go (PAYG) Instalments

 

The first instalment of 2021 income tax, due for quarterly taxpayers on 28th October may be varied down.

 

Reminder of Medicare Levy Surcharge (MLS)

 

A warning to taxpayers who may be considering cancelling private health insurance because of higher premiums starting for many on 1st October 2020.

 

ATO JobKeeper 2.0 guidance surfaces

 

The Tax Office has published preliminary guidance on the extension of JobKeeper as the profession continues to wait on the amended rules to be registered.

 

Expats Return to Australia – Travel Expenses

 

One of the conditions of deductibility of travel expenses, is that the expense is not a private or domestic nature.

 

Profession to be relied on for post-JobKeeper turnover certificates

 

Accountants will soon be tasked with providing certificates to businesses being weaned off JobKeeper to enable them to cut employee hours or change their duties under temporary Fair Work changes.

 

Update of Superannuation contribution rules from July 1, 2020

 

The rules around Superannuation contribution change almost every year, so it is important that taxpayers know what these changes mean to them.

 

Expats & COVID-19 Impacts on tax residency

 

The COVID-19 pandemic has resulted in many Australian expatriates living and working overseas returning to Australia.

 

Expats & COVID-19 Impacts on tax residency

 

The COVID-19 pandemic has resulted in many Australian expatriates living and working overseas returning to Australia.

 

Economic recovery could be slower than anticipated: RBA

 

The Reserve Bank of Australia has warned the economic recovery from the COVID-19 pandemic remains uncertain, with its latest figures being worse than those predicted three months earlier.