The government will expand eligibility for the temporary ‘full expensing measure’, which temporarily allows certain businesses to deduct the full cost of eligible depreciable assets in the year they are first used or installed.[…] Continue Reading
The ATO has said that employers now need to make adjustments in their payroll processes and systems in order for the tax cuts to be reflected in employees’ take-home pay. Employers must make sure they are withholding the correct amount from salary or wages paid to employees for any pay runs processed in their system […]
Broadly, JobKeeper Payments received by an employer are assessable income to the employer. Likewise, the payments an employer subsequently makes to an employee that are funded (in whole or in part by the JobKeeper Payment) are generally allowable deductions to the employer. The ATO has recently issued some guidance for employers in receipt of JobKeeper […]
JobKeeper 1.0 is coming to an end on the 27th September 2020. Please note that employer obligations will change as of that date and your business is no longer obliged to pay the minimum gross JobKeeper amount of $1,500 per fortnight to eligible employees. Those businesses that are lucky enough to qualify for JobKeeper 2.0 […]
