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Explanatory Memorandum - June 2020

Treasury revises down estimated JobKeeper cost by $60 billion The ATO and Treasury have released a joint statement advising that the previous estimate of the number of employers who would access the JobKeeper program was significantly overstated.…
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Client Alert - June 2020

Treasury revises down estimated JobKeeper cost by $60 billion The ATO and Treasury have released a joint statement advising that the previous estimate of the number of employers who would access the JobKeeper program was significantly overstated.…

Being ‘stood down’ is not being sacked

Accountants are fielding lots of questions in the COVID-19 shutdown. One of the most confusing is about standing down staff. IN BRIEF - While being ‘stood down’ sounds like a retrenchment or redundancy, it is not the same. Standing…
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Explanatory Memorandum - April 2020

Coronavirus cash flow boost payments explained As a part of the second round of economic stimulus in response to the COVID-19 pandemic, the Australian Government has legislated a measure to boost cash flow for employers. Put simply, the cash…
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Client Alert - April 2020

Coronavirus cash flow boost payments explained As of the second round of economic stimulus in response to the COVID-19 pandemic, the Australian Government has legislated a measure to boost cash flow for employers. However, small to medium employers…

Explanatory Memorandum - March 2020

Super guarantee loophole closed A superannuation guarantee loophole that allowed employers to use salary sacrificed contributions to make up part of their required super guarantee contributions has been closed. From 1 January 2020, employers…

Client Alert - March 2020

Super guarantee loopholes closed The concept of a superannuation guarantee – the legal requirement for your employer to contribute 9.5% of your salary into a nominated super account – should be familiar to everyone, as it makes up the bulk…

Explanatory Memorandum - February 2020

ATO backs down from controversial time limit ruling In 2018, the ATO issued a controversial draft ruling which took a very strict stance on the four-year time limit for claiming input tax credits and fuel tax credits. The ruling had been used…

Client Alert - February 2020

ATO backs down from controversial time limit ruling In 2018, the ATO issued a controversial draft ruling which took a very strict stance on the four-year time limit for claiming input tax credits and fuel tax credits. The ruling had been used…