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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Director ID number Bill now law
June 25, 2020
The legislative package to modernise Commonwealth registers and to introduce a director identification number (DIN) requirement has received assent and is now law. The Commonwealth Register...
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Franking account deficit resulting from COVID-19
June 25, 2020
Some entities may have received a refund from varying their PAYG installments because of the effects of COVID-19. This may result in the franking account balance being in deficit at the end ...
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Employment terminations payments not counted as part of JobKeeper payment
June 25, 2020
The ATO has clarified its position on employment termination payments (ETPs) in regard to JobKeeper payments and employees who have been terminated or made redundant. From JobKeeper fortnigh...
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