​This Quarters Newsletter includes the following topics:
• Is it the right time to start a Business?
• ATO Job Keeper Spam email – what to look out for.
• 2020/2021 Federal Budget summary
              o Personal income tax
              o Superannuation
              o Business Taxation
              o Job Hiring Credit scheme 

Click on the link below to view the newsletter​

On 21 July, the Government has announced it is extending the JobKeeper payment program to continue the temporary relief for businesses who continue to be affected by the economic impacts of Covid-19. The JobKeeper Payment will continue to remain open to new recipients, provided they meet the existing eligibility requirements and the additional turnover tests during the extension period. The extension is until 28 March 2021.
 
Please read the attached newsletter for more details.  The information contained is all that we know of at this time.  More information will be released as we move closer to the end of the September quarter.  We will keep you updated as we move forward.

Download the PDF to find our 2020  Tax Return Client checklist for Companies, Partnerships, Trust & Other Buisnesses to assist you in the collation of your tax document prior to your appointment

Download the PDF to find our 2020 Individual Tax Return Client checklist to assist you in the collation of your tax document prior to your appointment

Further information is now available for these entities

​Details and links in the PDF

For those of us that have registered with the ATO, you will have received notification of the update
available on their website; ato.gov.au/jobkeeper.

​Details of what is required is in the PDF

Please find latest updates for self managed superfunds

Details in the PDF

Yesterday, the Government released details of their third economic package entailing a $130 billion JobKeeper Payment.
The JobKeeper Payment is a temporary scheme open to businesses impacted by the Coronavirus aimed at supporting employers to maintain their connection to their employees. The JobKeeper Payment will also be available to the self-employed. The Government will provide $1,500 per fortnight (before-tax) per employee for up to 6 months.

The JobKeeper Payment will provide vital support to small business owners, many of whom have SMSFs.

More details in the PDF

Firstly, I encourage everyone to stay safe and implement the restrictions and lifestyle changes
necessary to assist in dealing with this health issue. Please give thought to those who are
still dealing with the Bushfires and others around you who are vulnerable. Asking RU OK
needs to be a constant in interaction with others daily. We all cope differently.

​Parliament has been working very hard to assist us all in dealing with the impact of the measures they have had to
impose as they affect every household.
We have attached a number of Fact Sheets in relation to the assistance that is currently available to both small
businesses and individuals and will continue to assist by sending these out as we are aware of changes and new issues.

More details in the PDF

Parliament has just passed legislation to include GST in the Director Penalty Notice (‘DPN”) Regime,
and it comes into effect on 1 April 2020.
A Director Penalty Notice is a Notice that the Australian Tax Office (“ATO“) can send to a director that
can make that director personally liable for, currently, two types of tax debts of a company – Pay As
You Go (“PAYG“) and Superannuation Guarantee Charge (“SGC“) liabilities. The addition of Goods and
Services Tax (“GST”) to this list means the ATO will be able to pursue a company director personally
for the majority of a company’s tax debt.

Details in the PDF

We remind you that the last date for payment of superannuation contributions for the quarter ended 31 December 2019 is 28 January 2020. To ensure that employees’ funds receive and process superannuation contributions by this date, we recommend that these be paid by 24 January 2020.

More information in the pdf below