COVID-19 and SMSF rental relief - Tax Accountants Glen Waverley
The Federal Government announced a six-month moratorium on evictions of commercial and residential tenants during the COVID-19 health pandemic. This moratorium (and its accompanying code of conduct leasing principles) will inevitably affect SMSFs, which are reasonably heavily invested in real property, according to statistics.
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COVID-19 and trust liquidity issues - Tax Accountants Geelong West
The ATO has highlighted the fact that due to COVID-19, a trustee may experience liquidity issues that may affect a trust’s ability to satisfy a beneficiary's entitlement. This may happen where financial institutions impose restrictions that affect the way a trustee can deal with its assets.
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Where you stand with vehicles and the boosted instant asset write off - Tax Accoutants Geelong
The extension of the instant asset write-off from $30,000 to $150,000 until 31 December 2020, as part of the Federal Government’s COVID-19 stimulus measures, provides an opportunity to look at its application to motor vehicles.
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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Claiming a deduction for transport expenses when carrying bulky equipment - Tax Accoutants Footscray
As a general rule, expenses relating to travel between home and work (and vice versa) are non-deductible.
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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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