JobKeeper extended
July 23, 2020
The Federal Government has announced extensions of the JobKeeper payment to Sunday 28 March 2021 and the temporary Coronavirus Supplement to Thursday 31 December 2020.
The JobKeeper pay...
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New tax treatment of income distributions from testamentary trusts to minors
July 9, 2020
New legislation has recently been enacted that changes the taxation treatment of distributions of income from testamentary trusts to minors.
Previously income from property that did not f...
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Amend FBT returns for ride sourcing exemption
July 9, 2020
Employers who lodged their 2020 FBT returns, treating ride-sourcing vehicle travel by employees as subject to FBT, will need to amend their returns, following law changes to exempt such trav...
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Taxation Determination TD 2020-21
July 2, 2020
The Commissioner has set out the amounts considered to be reasonable in relation to claims made by employees for the 2020-21 income year for:
overtime meal expenses — for food and dri...
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ATO website updates
July 2, 2020
ATO website updates
Enrolments still open for organisations assessing eligibility for the JobKeeper payment
Information for employees about JobKeeper payments
Key d...
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Tax time 2020: things to know
July 2, 2020
To help tax practitioners and their clients this tax time, CPA Australia has published its annual tax tips for tax agents, employees, small business, investors and students.
The ATO has a...
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Tax benefits and new rules from 1 July 2020
July 2, 2020
The government has outlined key measures in effect from Wednesday 1 July 2020 that will help Australians transition through the impacts from COVID-19. Those relating to tax and superannuatio...
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ATO announces Div 7A assistance to allow taxpayers to request an extension of the repayment
July 2, 2020
The ATO has announced that taxpayers affected by COVID-19 will now be able to request an extension of the repayment period if they are unable to make their minimum yearly repayment by the en...
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Effective life of depreciating assets for 2020-21
June 25, 2020
The ATO has issued the annual taxation ruling which contains the effective life of depreciating assets under s 40-100 of ITAA 1997. Taxation Ruling TR 2020/3 contains new effective lif...
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ATO website updates
June 25, 2020
Commissioner’s discretion to extend time for JobKeeper application
Payments to eligible employees on JobKeeper
Compliance approach to related party agreements in the COVID-...
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