ATO reveals STP reporting options for closely held payees

ATO Reveals STP Reporting Options for Closely Held Payees

Employers with closely held payees will now have three options to report payments through Single Touch Payroll, following guidance from the ATO. The ATO has confirmed that STP reporting for closely held payees will commence from 1 July, after it had granted these employers a one-year exemption in the midst of the pandemic last year.…
ATO extends simplified working-from-home deduction method

ATO Extends Simplified Working-From-Home Deduction Method

Taxpayers continuing to work from home in the new year will be allowed to continue using the simplified working-from-home deduction method following a third extension by the ATO. The 80¢ per hour shortcut method, introduced in April 2020 in response to COVID-19, will now be in place until 30 June 2021. This is the third…
JobMaker: What we Know So Far

JobMaker Hiring Credits: What We Know So Far

We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and until this occurs, the JobMaker rules are not certain and may change. More details should be available soon and we’ll let you know as soon…
Small Business Owner unhappy as he misses out on loss carry back

Small Business Shut Out From Loss Carry Back

Thousands of small businesses are set to miss out on accessing the temporary loss carry back provisions due to its limitation to corporate entities. The National Tax and Accountants’ Association has now written to Treasurer Josh Frydenberg to call for the expansion of the loss carry back provisions to non-corporate entities such as sole traders, partnerships and trusts.…
JobKeeper: The Next Steps

JobKeeper: The Next Steps

The first tranche of JobKeeper ended on 27 September 2020. We look at the issues for those seeking to qualify for the second tranche of JobKeeper and for those no longer eligible. Wrapping Up JobKeeper If your business is no longer eligible for JobKeeper payments, there are a few things you need to do: Advise…
ATO assistant commissioner Sylvia Gallagher

ATO kicks off ‘soft’ debt collection restart

The ATO has launched a soft restart of its debt and lodgement activities as it looks to re-engage with businesses. Apart from Victoria, where businesses are working towards a staged reopening plan, the ATO has begun reaching out to businesses in other parts of the country as part of its debt intervention activity restart after such…
COVID-19 | Important: JobKeeper Eligibility Dates Updated

COVID-19 | Important: JobKeeper Eligibility Dates Updated

The JobKeeper 1 July eligibility changes are now in effect, which could see staff employed by 1st July now eligible for JobKeeper, an extension from the previous 1st of March reference date. Employers have been given until the end of the month to satisfy the wage condition. The amendments apply from 3 August, the start of JobKeeper…
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