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June 30 Tax Tips 2020

BUSINESS TIPS. Business Income and Expenses. Consider strategies to defer income until after 30 June, or bring expenses forward into June, especially if you expect lower income for next year. Ensure that your tax deductions are allowable Bad debts must be written off before 30 June Super contributions must be paid before 30 June and [...]

How to process JobKeeper payments in your Payroll Software

Single Touch Payroll (STP) will be crucial for businesses wanting to quickly and easily access the Government’s JobKeeper wage subsidy scheme, which aims to provide payments of $1,500 per fortnight to eligible employees. Those businesses that are not using STP will be able to manually enter their employee details in the ATO’s online [...]

Enrol for JobKeeper. Step-by-step guide + tips

Enrol for the JobKeeper payment (from 20 April onwards) Step 1 – Register your interest and subscribe for JobKeeper payment updates. Step 2 – Check you and your employees meet the eligibility requirements. Step 3 – Continue to pay at least $1,500 to each eligible employee per JobKeeper fortnight (the first JobKeeper fortnight is the period [...]

Sm business COVID-19 $10K grant – applications now live

Applications are now live for the NSW Government's Small Business COVID-19 Support Grant. ELIGIBILITY:  You must be an employer; Your turnover is more than $75K; Your turnover is reduced by 75%; plus Read all eligibility criteria here...   TO CLAIM: Note your turnover for the last two weeks (eg Monday 30/3/20 to Sunday 12/4/20), plus [...]

JobKeeper Payment for Employers – Update

There has been constant reporting in the last two weeks about the Federal Government's latest scheme to provide relief payments to employees where businesses have been forced to close or are severely affected by the Coronavirus pandemic. What has been reported in the press is a very simplified version of how the scheme might work. [...]