The Federal Government is providing cash flow boosts to support businesses and not-for-profit organisations through the economic downturn associated with COVID-19. The first cash flow boost of up to $50,000 has been delivered and you should now be preparing for the arrival of the second boost.
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Entries by AFS Bendigo
As of 1 July 2020 a new law is in place that poses a major risk for Board Members and Company Executives.
It can take some planning to get your finances in order for the end of financial year, and this year may look a little different, come 30 June. The COVID-19 pandemic may have impacted your circumstances and therefore your situation could have changed.
Winter is here and we are almost at the end of another financial year, and what a year it’s been! With so many Australians impacted by fires, floods, drought and now COVID-19, let’s hope the new financial year sees a more stable economic environment. AFS finalists in the Australian Accounting Awards AFS & Associates has […]
Announced on 4 June 2020, the HomeBuilder Program will provide all eligible owner-occupiers (not just first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. It is hoped HomeBuilder will help to support the residential construction sector including businesses and sole-trader builders, contractors, property developers, construction […]
From 4 May, the Australian Taxation Office (ATO) opened the final reporting requirements for the JobKeeper Scheme. The following steps will need to be completed before the JobKeeper payments will be processed by the ATO.
If you qualify for the Government JobKeeper payments, it is important you update your payroll software so you can provide the Australian Taxation Office (ATO) with the information required in the correct format. If you process your payroll as normal or incorrectly there’s a chance your JobKeeper payments could be delayed or missed altogether.
ATO extends initial JobKeeper payment deadline The Australian Taxation Office (ATO) announced changes to the JobKeeper deadlines for enrolment and payment requirements, these deadlines are:
The Prime Minister has announced a Code of Conduct (“the Code”) which outlines a set of principles for commercial landlords and tenants to operate within when negotiating any lease relief for tenants who are experiencing financial stress or hardship during COVID-19. A summary of the principles are: Eligible tenants must have an annual turnover of […]
Employee transport expenses is a commonly claimed tax deduction, however, many bring Australian Taxation Office (ATO) scrutiny upon themselves due to incorrect recording of deductible travel costs or lack of knowledge in regards to what can be claimed and what cannot be claimed.