Brandon explains the following:
✅ Creating a new Revenue Account
✅ Raising the rental income (including deferred and waived rent)
✅ Manual journal to account for the deferred rental and rent receivable
✅ How to invoice for deferred rent in a post Covid-19 environment
✅ Providing deferred rent statements to tenants and accounting for deferred rent once invoiced.
Reflecting on the past 6 months, particularly since the effect of Coronavirus on financial markets, I am concerned that many investors do not have a clear and tailored investment strategy. My observations are that investors seem to be failing to understand one basic investment principle; 'The higher the return the higher the risk’.
The updated alternative tests released by the Commissioner of Taxation are broadly similar to the alternative tests that were released in connection with the original decline in turnover test. However, there are some key differences.
To access JobKeeper payments from 28 September 2020, there are three questions that need to be assessed:
Is my business eligible? Am I and/or my employees eligible? and What JobKeeper rate applies?
We’ve summarised the key details in this update.