Do you know how to claim COVID-19 Disaster Payment? COVID 19 is a support payment for workers adversely affected by a state public health order. This is a lump sum payment to help workers unable to earn income due to a COVID-19 lockdown, hotspot or period of restricted movement. The COVID-19 Disaster Payment can help… Continue reading COVID-19 Disaster Payment
Resources
Cash Support For Victorian Businesses During Lockdown
Cash Support For Victorian Businesses During Lockdown The Victorian Government will provide new cash grants for businesses affected by the short lockdown necessary to get ahead of the Delta strain, so they can have a strong recovery on the other side of the public health restrictions. Automatic payments will be made to eligible businesses and… Continue reading Cash Support For Victorian Businesses During Lockdown
Loss carry back this tax time
How to claim loss carry back this tax time? Loss carry back Tax Offset Loss carry back provides a refundable tax offset that eligible corporate entities can claim: after the end of their 2020–21 and 2021–22 income years in their 2020–21 and 2021–22 company tax returns. Eligible entities get the offset by choosing to carry… Continue reading Loss carry back this tax time
Victoria State Budget 2021-22 announcements
Victoria State Budget 2021-22 announcements. How is that going to affect you as an individual or Company? The Victorian Budget 2021-22 includes announcement a number of these measures have to be approved by the Victorian Parliament before they can start. A payroll tax surcharge on wages paid in Victoria by businesses with national payrolls over… Continue reading Victoria State Budget 2021-22 announcements
Contractors reminded to declare $172 billion of income
Did you now? Businesses that pay contractors in the courier, cleaning, building and construction, road freight, information technology, security, investigation, or surveillance services industries are required to notify the ATO of payments made to contractors annually. ATO Assistant Commissioner Peter Holt said because of TPRS, the ATO now has a clearer view than ever before… Continue reading Contractors reminded to declare $172 billion of income
How to claim temporary full expensing and loss carry back this tax time?
How to claim temporary full expensing and loss carry back this tax time? Businesses may be able to use temporary full expensing to claim an immediate deduction for the cost of eligible assets and improvements to existing assets. Businesses with an aggregated turnover of less than $5 billion can immediately deduct the business portion of the… Continue reading How to claim temporary full expensing and loss carry back this tax time?