News Archive

In the latest of its job stimulus packages, the Government unveiled its JobMaker credit to help businesss stimulate jobs growth along with other measures squarely aimed at up at a business-led recovery from the coronarecession. In this month's update, we explore how hiring credits, instant asset write-offs, loss carry-back and payroll are likely to impact your business this tax year.

As always, if you have any queries, contact our team on 9957 4033.

	JobMaker Hiring Credits: What We Know So Far The Government announced JobMaker hiring credits as part of its 2020-21 Federal Budget. So what is it and can it benefit your business?
	Tax deductions for investing in your business The Government's October Budget laid the ground for businesses to invest into their business – how can you ensure you maximise your deductions? The Australian Tax Office has indicated how it will address over payment of JobKeeper and the actions – if any – it will take.
	Refunds for Tax Losses If your company has made a loss, you may be able to claim a tax refund for tax previously paid on profits.
	JobKeeper clawback begins with $120m so far The ATO has been very clear that it will seek to clawback JobKeeper payments that have been paid to illegible companies.
	Don't forget to update your PAYG tables for employees The ATO released its new PAYG tables last month and employers need to adjust their payroll accordingly.

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Disclaimer

This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.