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ATO ruling on JobKeeper GST turnover test released

ATO ruling on JobKeeper GST turnover test released

by Shared by Accountants Daily | May 5, 2020 | News

LCR 2020/1 has now been published, setting out the Tax Commissioner’s view of the decline in turnover test as part of the JobKeeper rules. Read more at the Accountants Daily.
Businesses foresee ongoing COVID-19 financial impacts

Businesses foresee ongoing COVID-19 financial impacts

by Maja Garaca Djurdjevic | May 4, 2020 | News

ABS data has revealed that three in five (61 per cent) businesses had registered or intended to register for the JobKeeper payment scheme. “Of those businesses registered or intending to register, 73 per cent expected more than half of their employees to the eligible...
Over 665,000 applications for early super release in one week

Over 665,000 applications for early super release in one week

by Maja Garaca Djurdjevic | May 4, 2020 | News

The total value of processed early release of super applications in the first week of the scheme reached $1.3 billion, with the average benefit paid equalling $8,002, APRA has said.  According to the Australian Prudential Regulation Authority (APRA), for applications...
Energy companies to co-operate on relief package for SMEs

Energy companies to co-operate on relief package for SMEs

by Shared by My Business | May 4, 2020 | News

The ACCC has announced it has given interim authorisation to allow the Australian Energy Council and wholesale and retail energy businesses to hold discussions, share information and enter into arrangements for the purpose of providing financial relief and other...
ATO reveals JobKeeper compliance approach

ATO reveals JobKeeper compliance approach

by Shared by Accountants Daily | May 4, 2020 | News

The Tax Office has now published Practical Compliance Guideline 2020/4, setting out how the ATO will apply its compliance resources to schemes that have been entered into to enable an entity to gain access to the JobKeeper payment or an increased amount of the...
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