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Tax Alert June 2020

Tax Alert June 2020

Published: June 30, 2020
With COVID-19 dominating everyone’s thoughts, employers are being offered a brief window of opportunity to get their tax affairs in order with the new Superannuation Guarantee (SG)...
How COVID-19 changes tax time

How COVID-19 changes tax time

Published: June 30, 2020
As this financial year draws to a close, it will be viewed as a year like no other. COVID-19 (coronavirus) has impacted everybody’s life, albeit in different ways for different...
Instant asset write-off extended

Instant asset write-off extended

Published: June 23, 2020
To further support Australian businesses through the fallout resulting from COVID-19, the government has extended the $150,000 instant asset write-off for an additional six months to 31...
The HomeBuilder program – government grants to eligible homebuilders and renovators

The HomeBuilder program – government grants to eligible homebuilders and renovators

Published: June 23, 2020
The Government has announced the new HomeBuilder program to support jobs and boost demand in the residential construction sector at a time when the construction industry is facing extreme...
Unintended consequences of Government COVID-19 Policies

Unintended consequences of Government COVID-19 Policies

Published: June 9, 2020
For every action there is a reaction. And while we’re not criticising the government’s policy response to COVID-19, we recognise that such intervention often has unintended...
Is your SMSF balanced?

Is your SMSF balanced?

Published: June 9, 2020
The recent sell-off on global sharemarkets due to the economic impact of COVID-19 has highlighted the risks of depending too heavily on a single asset class. Even before the current crisis,...
How COVID-19 changes tax time

How COVID-19 changes tax time

Published: June 9, 2020
As this financial year draws to a close, it will be viewed as a year like no other. COVID-19 (coronavirus) has impacted everybody’s life, albeit in different ways for different...
Maintaining your mental health through the pandemic

Maintaining your mental health through the pandemic

Published: June 4, 2020
The COVID-19 pandemic has shifted our day-to-day lives in a dramatic way. One of the biggest changes to come from this period, was a transition to working from home for many people.  On...
End of Financial Year checklist

End of Financial Year checklist

Published: June 4, 2020
It always takes some planning to get your finances in order for the end of financial year, and this year may look a little different, come June 30. The COVID-19 pandemic may have impacted...
9 retirement planning myths debunked

9 retirement planning myths debunked

Published: June 3, 2020
We’ve all read internet fake news and passed down family stories about common retirement “rules of thumb”. Google the word “retirement” and you’ll get 748,000,000 results in...
Time to reassess your financial priorities

Time to reassess your financial priorities

Published: June 1, 2020
At a time of uncertainty about the economy, not to mention unexpected social isolation, people are rethinking their personal and financial priorities.  Whether you are spending less by...
Starting over: how to bounce back after 60

Starting over: how to bounce back after 60

Published: May 11, 2020
Have you ever gone through a major life event that forced you to start again? For some, it’s a scary time filled with change, anxiety and confusion. But it doesn’t have to be that way....
Keeping the economy moving

Keeping the economy moving

Published: May 11, 2020
The Morrison Government’s mind-bogglingly large support packages to get Australians through the COVID-19 shutdown have dominated headlines, and rightly so. Only months ago, the Australian...
Withdrawing Super: what to consider

Withdrawing Super: what to consider

Published: May 11, 2020
The federal government has been releasing details of financial support available to Australians who have lost income due the economic impact of the COVID-19 pandemic. A huge number of us...
The Importance of Maintaining Connection Right Now

The Importance of Maintaining Connection Right Now

Published: May 7, 2020
“In the rush to return to normal, use this time to consider which parts of normal are worth rushing back to…” Many people around us have been using this time to consider the kind...
Why you need to keep your identity safe

Why you need to keep your identity safe

Published: May 7, 2020
Have you received an unexpected email or text asking you to ‘confirm’ personal details by clicking on a link or opening an attachment? It could be an attempt to steal your information...
The Big Differences between the Great Depression and Covid-19

The Big Differences between the Great Depression and Covid-19

Published: May 7, 2020
Global economic activity has grounded to a halt, prompting fears the world is in for a re-run of The Great Depression. While there might be similar scenes, the parallels are not as strong...
New tax shortcut for employees working from home

New tax shortcut for employees working from home

Published: May 6, 2020
With many people now working from home because of COVID-19, some of the expenses your employer normally pays – such as electricity, heating and cooling – are now coming out of your...
Avoid cabin fever: look after your psychological health

Avoid cabin fever: look after your psychological health

Published: April 21, 2020
Being stuck in isolation due to the coronavirus can be a real drain on your psychological health. But you can work through it. Your psychological health reflects how you feel, think,...
5 Tips to work productively remotely

5 Tips to work productively remotely

Published: April 14, 2020
In the current climate, many businesses are needing to make changes to accommodate staff working remotely. If you are able to work from home the ensuing changes to your work habits can be...
JobKeeper Payment now officially passed by the Government

JobKeeper Payment now officially passed by the Government

Published: April 14, 2020
On April 8th, the JobKeeper package was passed by both sides of Parliament and legislated. This update offers further guidance on the scheme. Workers with multiple jobs If you are...
Commercial tenancies rent relief package

Commercial tenancies rent relief package

Published: April 20, 2020
On April 7, the Government announced new commercial rental waivers and deferrals for tenants that have been severely impacted by the coronavirus crisis. The draft Code of Conduct is to...
Temporary Relief for Financially Distressed Businesses

Temporary Relief for Financially Distressed Businesses

Published: April 14, 2020
The coronavirus is first and foremost a health crisis, but as measures are being taken to reduce the spread of the virus throughout the community, many profitable businesses may temporarily...
Economic Stimulus Package – Boosting cash flow for employers

Economic Stimulus Package – Boosting cash flow for employers

Published: April 20, 2020
An economic stimulus package is being put in place to support businesses to manage cash flow challenges and assist them retain their employees to continue to stay viable through the...
Award Flexibility During Coronavirus

Award Flexibility During Coronavirus

Published: April 20, 2020
Workers may soon have access to unpaid pandemic leave and extended annual leave at reduced rates to help keep them in their jobs through the coronavirus crisis.  On 1 April 2020, the...
Economic Stimulus Package – Supporting apprentices and trainees

Economic Stimulus Package – Supporting apprentices and trainees

Published: April 20, 2020
The Government is encouraging and supporting businesses to retain apprentices and trainees to ensure continuity of skilled workers across our trade industries. Eligible employers can...
Boost to mental health services, domestic violence support and Medicare assistance

Boost to mental health services, domestic violence support and Medicare assistance

Published: April 20, 2020
The Government released further funding on March 29 to support the secondary effects of the health and economic impact of the coronavirus. This package is designed to provide care and help...
Early childhood education and care subsidy

Early childhood education and care subsidy

Published: April 20, 2020
Child care and early childhood education is critical for families who rely on it so they can continue to work throughout this ongoing crisis, particularly those who are working in critical...
Temporary Access to Super

Temporary Access to Super

Published: April 14, 2020
As part of the measures taken by the government to support those impacted by COVID-19 some people will be able to access up to $10,000 of their super between now and 1 July 2020, with a...
Accelerated depreciation deductions to benefit businesses

Accelerated depreciation deductions to benefit businesses

Published: April 20, 2020
The Government has accelerated depreciation deductions for the next 15 months. Up until June 30, 2021, businesses turning over less than $500 million will be able to deduct 50 per cent of...

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