The JobKeeper Payment, which was originally due to run until 27 September 2020, will continue to be available to eligible […]
An increase from the first package, small and medium businesses and not-for-profit (including charities) employers with aggregated annual turnovers of under $50m will be eligible for tax-free payments of up to $100,000 per employer. The first payment (capped at $50,000) will be made after 28th April and the second payment (also capped at $50,000) after 28 July 2020. This is the single largest measure in this package and represents approximately $31.9b.
SMEs with aggregated annual turnovers of under $50m will now receive two payments equal to 100 per cent of their PAYG withheld on salary and wages, with each maximum payment increased from $25,000 under the first package) to $50,000, for a total maximum payment of $100,000.
Eligible businesses that pay salary and wages but are not required to withhold tax will receive a minimum payment of $20,000, up from $2000 in the first package. The payment will be available from 28 April 2020 and, as stated in the previous stimulus update, will be paid as a credit to the business upon lodgement of their activity statements.
The JobKeeper Payment, which was originally due to run until 27 September 2020, will continue to be available to eligible […]
To help you complete your tax return, especially if you’ve just started working from home for the first time, this […]
On 22 March 2020 the federal government announced that the minimum pension drawdown rates would be temporarily halved for the […]
From April, individuals will be able to access their superannuation, capped at $10,000 this financial year and a further $10,000 […]
An increase from the first package, small and medium businesses and not-for-profit (including charities) employers with aggregated annual turnovers of […]
The Federal Government’s JobKeeper Scheme gives qualifying employers fortnightly $1,500 payments for eligible employees, on the condition that they pay […]