COVID-19 payments and some issues for companies and trusts - Tax Accoutants Fountain Gate
With many having received cash flow boost and JobKeeper payments, there can arise some unique issues where these amounts are received within a trust or company.
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Rental property: Tax approach adjusts for COVID-19 - Tax Accountants Eastwood
The COVID-19 pandemic has placed property owners, and tenants in many cases, in unfamiliar territory. Many tenants have been paying reduced rent or ceased paying because their income has been adversely affected.
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The JobKeeper scheme gets an update, plus an extension - Tax Accountants Chatswood
The JobKeeper payment, which was originally due to end after 27 September, will now continue to be available to eligible businesses (including the self-employed) until 28 March 2021. However there are some changes to consider.
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Varying PAYG instalments because of COVID-19 - Tax Accountants Castle Hill
PAYG instalments is a system that helps you manage your expected tax liability on income from your business or investments for the current income year by making smaller regular payments.
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Instant asset write off extended to 31 December - Tax Accountants Burwood
Note that the boost to the instant asset write off rules that the government put in place to help stimulate the Australian economy in the face of the COVID-19 crisis has been extended to the end of this year. Businesses with a turnover of up to $500 million a year will be allowed to continue writing off newly purchased assets worth up to $150,000.
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Tax return tips
Despite the current COVID-19 world in which we live, the procedures for completing and lodging tax returns remains pretty much the same.
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