You might need to lodge a Taxable payments annual report (TPAR) by 28 August

If you’ve paid a tradie or other contractor for building and construction services in the past year, you might need to lodge a Taxable payments annual report (TPAR) by 28 August. You need to lodge a TPAR if you pay contractors for building and construction services and: You earn 50% or more of your business income from building and construction services, or … Read More

JobKeeper Reduction Announcement

Today, 21 July Australian Prime Minister Scott Morrison announced the future reductions of JobKeeper from its current offering of $,500 a fortnight. New eligibility tests The treasury argued for a new eligibility test for businesses looking to remain on JobKeeper beyond September. Businesses will still need to meet and demonstrate the required reduction in turnover- 30 per cent for businesses … Read More

Our adopted Koala Paul passed away

KSR adopted four Koalas in January that had been badly hurt during the bushfires. We have been keeping up to date with their healing progress and have loved seeing them improve. However, one of our first to have been rescued, LINR Paul unfortunately had a fast decline and passed away last week. We are extremely sad to hear this news … Read More

Checklist of 2020 Work-related Tax Deductions

The new financial year has begun and this year we have compiled a work-related deductions checklist to provide you a better understanding about the deductions available to you. While not exhaustive, this checklist provides a step-by-step guide to assist you in confirming your eligibility for the most commonly claimed deductions. You may have other deductions not listed so please ensure … Read More

Instant Asset write-off set for significant drop

The $150,000 instant asset write off will soon revert to its original threshold of $1,000 from 1 July 2020, so please consider the measure ahead of the end of the financial year. Announced by the government as part of the stimulus package in early March, the instant asset write-off for businesses with an aggregated turnover of less than $500 million … Read More

Victorian Government Payroll Tax Relief

The Victorian Government has announced additional payroll tax relief to support businesses and jobs who are facing challenges given the effects of COVID – 19. Employers must pay a minimum of $1500 a fortnight to eligible employees, in order to qualify for JobKeeper payments. The Victorian Government has now ensured that the additional payments employers make to their employees in … Read More

JobKeeper Payment for Businesses

The Morrison Government has announced a historic wage subsidy that will keep Australians in jobs as the country tackles the significant economic impact from the coronavirus. The payment will be open to eligible businesses that receive a significant financial hit caused by the coronavirus. The payment will be paid to employers for up to six months for each eligible employee … Read More

Business Support Fund – $10,000 Grant

In more support for businesses impacted by the coronavirus, the first tranche of the Governments $500million Business Support Fund grant will flow from today, with $10,000 grants available for employers who don’t pay payroll tax. Potential value of the grant per business is $10,000 and is available through the grant process. To be eligible, your business needs to Employee staff; … Read More

Payroll Tax Refunds Information

The Victorian Government has announced a range of tax relief measures as part of its economic survival package in response to COVID-19. These measures are designed to help businesses and workers get through the current situation. This letter from the Premier of Victoria and fact sheet provide more information. If you are currently registered and pay payroll tax you may … Read More

Accessing COVID-19 supplement payment for sole traders and casuals

In response to the economic downturn caused by COVID-19, the federal government has made amendments to current social security rules for the six-month period 27 April 2020 to 27 October 2020. Essentially, sole traders and self-employed persons now become immediately eligible to receive benefit payments should their income go below certain thresholds for any particular fortnight. Waiting periods, liquid asset … Read More