Increased eligibility for JobKeeper payments. For the second time in a fortnight, the Federal Government has announced further updates to the JobKeeper wage subsidy, to ensure businesses can continue to retain their employees under the economic impacts of COVID-19. The changes to eligibility criteria have a significant impact for all businesses and we encourage you…
Federal Government Updates on Jobkeeper and Jobseeker On 21 July 2020, the Federal Government announced an extension to the JobKeeper wage subsidy through to 28 March 2021 and a temporary boost to the JobSeeker unemployment benefit program. This initiative is obviously designed to allay fears of a significant disruption to business viability in September from the proposed cessation…
Advivo explain how our new Monthly or Quarterly Service Programs (MSPs) can help you! With the new financial year fast approaching now is the perfect time to benefit from one of for our Monthly or Quarterly Service Programs (MSPs). We can help you improve your business and remove the stress associated with end-of-year accounting.…
Key Events / Dates: 15 May – Lodge 2019 tax returns for all entities that did not have to lodge earlier (including all remaining consolidated groups), and are not eligible for the 5 June concession. Due date for companies and super funds to pay if required. 21 May – Lodge and pay April 2020 monthly…
New method for claiming expenses when working from home during COVID-19 With more and more people working from home to minimise their risk of exposure to the Coronavirus, the ATO have introduced a temporary simplified method (or shortcut method) of calculating additional running expenses incurred whilst employees are working from home. This shortcut method can…
What is available and to whom? If you have been affected by the COVID19 quarterly tax instalment payers can vary their current and prior PAYG instalments on their activity statement for the March 2020 quarter. How do I get it? To access this option you must vary the number of your PAYG instalments on your March activity statement before the instalment is due. Taxpayers who vary their…
Support now increased to a minimum of $20k and up to a maximum of $100k for employers. What is available and to whom? Small and medium sized business with annual turnover under $50 million that employ workers will now be eligible for a payment equal to 100% of their salary and wages withheld (the PAYGW amounts) for the period 1 January to 30 June 2020 on…
Advivo are committed that their clients get the most out of their investment in great accounting. An accountant plays a crucial role in the success of your business, so creating a strong working relationship with them and ensuring they are completing all their responsibilities is imperative. You need to be comfortable working with them and…
A Quick Guide on the Upcoming Changes Regarding Superannuation If you have a Self-Managed Superannuation Fund you might be aware that the rules are constantly changing. Over the past few years there have been many significant changes made and many proposed but never legislated. We have prepared a quick guide on the upcoming changes and…
Advivo inspire their clients, this quote from Winston Churchill says it all “If you fail to plan, you are planning to fail” It’s the end of the financial year and many businesses are thinking about that five-letter word: taxes. Fortunately, there are some tax planning strategies that your business can use to avoid panic and…
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