2020 Income Types and treatment

  2020 Income Types and treatment   JobSeeker: how to treat in tax return   JobSeeker payments are taxed.   The ATO will automatically load this information into the ‘government payments and allowances’ section in your tax return, but it will not necessarily be there from July 1.   This means if the information is […]

Work from home – Shortcut method

  Work from home – Shortcut method   ATO has introduced a shortcut method to simplify how you calculate your deduction for working from home. This method is temporary and only available for the period 1 March to 30 June 2020. All employees working from home in this period can use this method.   Using this method, […]

JobKeeper – Business monthly declaration

  JobKeeper – Business monthly declaration   If you have enrolled for the JobKeeper Payment and identified your eligible employees, you need to make a business monthly declaration to the ATO. You will be able to do this from the 1st to the 14th day of each month, to receive reimbursements for the payments you […]

PAYG INSTALMENTS

  What is a PAYG Instalment?   A PAYG instalment is an estimate only made by the Australian Taxation Office based on your previous years’ assessment and is essentially a prepayment of the tax liability.   The ATO will also determine how frequently you are required to pay these instalment amounts.   How do PAYG […]

JobKeeper payment – How to Enroll? (from 20 April 2020 onward)

  JobKeeper payment – How to Enroll? (from 20 April 2020 onward)   You or a registered tax professional can enrol for the JobKeeper payment:   Step 1 – Register your interest and subscribe for JobKeeper payment updates. Step 2 – Check you and your employees meet the eligibility requirements. Step 3 – Continue to pay at least $1,500 […]

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