If you are already receiving JobKeeper payments, the ATO have said you don’t need to enrol again or do anything different until after 28
September 2020 however we note they have an additional section on the ATO Portal to confirm the eligibility...
In this video we are walking you through how to demonstrate to the ATO that you satisfy the actual decline in turnover for the September 2020 quarter (July, August, September) relative to a comparable period (generally July, August, September 2019).
If you are currently enrolled and would like to continue to claim JobKeeper payments in the first extension, you’ll need to check your continuing eligibility from 1 October 2020. Once confirmed, submit this information online to the ATO.
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. Who needs to lodge a FBT return? Find out here.
With the borders between the State and Territories all but open and 2021 in sight, there is a hunger for a return to normal. With Australia's desire to ‘get on with things,' sentiment reached its highest level since November 2013 and Christmas spending is expected to be consistent with previous years.
Stimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses to immediately deduct the cost of new depreciable assets and the cost of improvements to existing assets in the first year of use.