JobKeeper Scheme Changes
Government Tightens Purse Strings with JobKeeper 2.0 JobKeeper payments will be less and harder to qualify for under the next phase of the scheme. The current $1500 per fortnight JobKeeper payment will be reduced to between $750 and $1200 per fortnight from 28 September 2020. The lower $750 rate will apply to employees working less […]
Tax Time 2020 Preparation
As tax time 2020 gets closer and closer, we wanted to help our clients prepare and ensure they are ready for the important financial period ahead. The COVID-19 pandemic has thrown a curve ball, causing this year’s tax time to be a little more complex than those in the past. However, the Affinitas Accounting team […]
Understanding the ATO Instant Asset Write-Off
The ATO’s instant asset write-off is another form of financial relief the ATO and the Federal Government has included and expanded on in the COVID-19 relief schemes. First developed in 2015 as a way of enabling small businesses to claim the depreciation amount of a work-related purchase like a car or a computer in one hit, rather […]
JobKeeper Explained: What is it and Who is Eligible?
JobKeeper was introduced in April 2020 and is an effort being made by the Federal Government to support eligible businesses effected by COVID-19 to cover the costs of their employee’s wages, on condition that the business has experienced a loss of a predetermined portion of their turnover. Around $130 billion will be paid to hundreds […]
The Value of JobKeeper to Your Business
If you are eligible to receive the JobKeeper payment for all your eligible employees for the entire 6 month period, we have estimated that you would receive the total JobKeeper payment amount below: This equates to $ 19,500 per employee or eligible business participant for over 6 months. This is a great help to business […]
The Second Govt Stimulus Package: What Business Owners Need To Know
Yesterday, the Australian Federal Government delivered a substantially increased package available for individuals and small businesses. You can read the official government release here. For those of you that prepare your own BAS, I’d recommend that you consult with us before lodging the March 2020 BAS, so we can ensure your small business avails itself […]
The Second $66.1 bn Stimulus Package: What Individuals and Families Need To Know
The Australian Federal Government delivered a substantially increased package available for individuals and small businesses yesterday to ease the economic downturn from the Coronavirus pandemic. Affinitas Accounting is a member of professional associations, thought leadership groups and specialist private forums. There have been numerous discussions across all of these as to the interpretation of […]
