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Tax News
On 21 July 2020, the Government announced that the JobKeeper Payment (‘JKP’) would be extended until 28 March 2021 (i.e., for a further six months beyond its original end date of 27 September 2020). As a result, JKPs would now be made over two separate extension periods, being: Extension period 1 – which covers the…
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A new round of applications for the NSW government’s Small Business Recovery Grants are now open to help businesses safely relaunch their operations. The grant is designed to help fund businesses’ marketing and advertising expenses as well as any interior changes and staff training to ensure a Covid-19 preventative work environment. Roughly $260,000 worth of…
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The Federal Government has announced a $25,000 HomeBuilder tax-free stimulus grant. The stimulus is targeted at home owners to build new houses or renovate their existing ones. The grant is available where a contract is signed between 4 June 2020 and 31 December 2020. The Federal Government hopes this new HomeBuilder scheme will encourage home…
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Applications are drawing to a close for the Service NSW Covid-19 support grant of $10,000 for small business’s highly impacted from COVID-19 pandemic following the NSW Public Health Order on 30 March 2020. The grant is part of the NSW Government Small Business Support Fund. Applications are open until 11.59 pm Tuesday 30 June 2020. Eligibility…
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Amazon is growing at an exponential rate and has been expanding worldwide. There is no denying the opportunities of the US Amazon market reaching millions of American shoppers every day. The good news is selling on Amazon US is not just limited to US residents. The Benefit of Selling on Amazon US The major benefit…
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The Australian Taxation Office (‘ATO’) has announced a temporary simplified short cut method to make it easier for individual taxpayers to claim deductions for additional running expenses incurred (e.g., additional heating, cooling and lighting costs), as a result of working from home due to the Coronavirus pandemic. Refer to the ATO’s Media Release of 7…
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  The Federal Government has just announced a relief package for the child care and early childhood education sector (‘child care sector’). The relief package is designed to: • provide free child care to around one million families; and • ensure that as many of the child care sector’s 13,000 child care and early learning…
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  The following is a broad summary of the key aspects of the Federal Government’s stimulus package in response to the Coronavirus, as recently announced and enacted. The summary is based on information currently available on the Treasury website (refer to “Economic response to the Coronavirus”), as well as various Bills introduced into Parliament (and…
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  The Federal Government has announced (as part of its Coronavirus Stimulus Package) the introduction of a new JobKeeper Payment to assist eligible employers (and self-employed individuals) who have been impacted by the Coronavirus pandemic to continue to pay their workers. The following is a broad summary of the key aspects of the proposed JobKeeper…
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1. Income support for individuals From 27 April 2020, the Government will introduce a Coronavirus supplement of $550 per fortnight (payable to individuals currently receiving certain eligible income support payments) and will also temporarily expand access to certain income support payments, over a six-month period. The Government will also provide two separate $750 tax-free payments…
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