JobKeeper 2.0 Alternate Turnover Tests
Check out our easy to use Alternate Test Calculator at https://www.mcaaccountants.com.au/download-files/9025/ With 4 days until JobKeeper 2.0 begins, the Government has released the alternate tests available to businesses when working out if they have suffered a 30% decline in turnover. Talk about cutting it fine! The strangest part of the delay is that the tests […]
Further JobKeeper 2.0 Clarity
This follows our previous post which can be read at https://www.mcaaccountants.com.au/resources/blog/vic-covid-support-jobkeeper-update/. Further clarification – but still not complete clarification – on the operation of JobKeeper 2.0 was released by the Government on 15 September 2020. Below is a short summary of those, plus what is still unknown. Clarified Administrative Requirements: Employers must notify the ATO […]
Vic COVID Support + JobKeeper Update
We thank all our clients for their patience during these uncertain times.Over the weekend, the Victorian Government announced a support package for businesses and along with these details we also have a JobKeeper update. Victorian Government Assistance We note that all Victorian Government assistance can be found on the Government’s website at https://www.dhhs.vic.gov.au/financial-support-coronavirus-covid-19. With the […]
Phoenix alert: Government warns directors
When a company has failed or becomes insolvent, it is perfectly legitimate to register a company to take over what is left of that company after liquidation. The directors of the failed company may have done everything they could to keep the company buoyant, but the company could not meet its debts. The insolvent company […]
Tax time focus areas for individuals
It’s tax time again, as you gather your receipts and other assorted tax documents, you should also turn you mind to what the ATO is paying close attention to this year. This year, the ATO is focusing on taxpayers who claim “other” work-related expense deductions at label D5 on individual tax returns. According to the […]
ATO focus areas for businesses
A recent interview with Tax Commissioner Chris Jordan revealed details of what the ATO will be paying particular attention to this year. Perhaps not surprising, but the ATO will be targeting businesses that deal in cash. As a part of its cash and hidden economy operation, the ATO has compiled “data-maps” of cash-only businesses and […]