Update Saturday 26 September
From next Monday 28 September, the second phase of the JobKeeper wage subsidy will begin.
For those hoping to retain access to the payments, the Australian Taxation Office (ATO) has published some new information about key dates, alternative tests and applying the actual GST turnover decline test.
September 28: start paying eligible employees under the second phase two-tier system, based on their hours worked in the comparison period.
October 1–14: complete your October JobKeeper monthly business declarations.
October 1–31: prepare and submit your business turnover decline to the ATO.
Before October 31: ensure you’ve met the wage condition for all JobKeeper eligible employees from the fortnight starting September 28.
From November 1: complete your monthly business declaration and confirm payment tiers you are claiming for each eligible worker.
Please click on the image below to see more helpful information from the ATO.
Make the most of your deductions by working out your travel expenses before you lodge your tax return.
If you travel or have travelled for your business, you may be wondering which expenses you can claim in your tax return. You might want to know if you can claim for expenses such as:
car hire fees or using your own car
meals for overnight travel
sightseeing and entertainment
souvenirs and gifts
taking a family member on the trip.
The Small business travel expenses fact sheet will help you answer common questions about:
which expenses you can and can't claim
separating the private and business portions of expenses
records you need to keep
how to keep a travel diary.
If your employees travel for your business, your business can claim the expenses as a deduction if you've paid for the travel expenses. Fringe benefits tax may apply if your business pays for or reimburses your employees for their travel expenses.
While COVID-19 has greatly affected our current environment, remember help is available if you need it.
Source and credit : ATO.gov.au
We always strive to ensure the continued safety of our staff and clients during these challenging times. For your convenience, there is a sanitise station with procedures set up at the main door to the reception area if you do need to;
Drop off documents
Should any of the above be required, one of our team will be in touch to coordinate this with you. If you wish to arrange a telephone appointment or zoom meeting with one of our team please contact our office either by telephone or email.
21 October 2020 September monthly BAS due
28 October 2020 September quarter SG due
28 October 2020 September quarterly BAS due
28 October 2020 September quarter PAYG instalment due
As always, we are here to support you and answer any questions you may have.