Another day, another support package. This time the JobKeeper Payment. Not yet legislated but soon will be, this is a great boost for casual workers & the self employed who may now be eligible for some $ – in some lucky cases more than they originally earned. However, this will increase administration for companies who… Read More JobKeeper Payment
If you are in the unfortunate position of needing to stand down employees due to Covid-19 make sure you comply with Australian work place laws. Workplace Australia have a useful page detailing what employers can and can’t do in these difficult times. Click the link for further details. https://coronavirus.fairwork.gov.au/#stand-down Lindsay 0413 952180
The March 2020 BAS statements are starting to arrive, along with a deluge of client queries as to how to complete them in order to receive the government assistance. So here we go …… Complete the BAS exactly the same as normal The ATO credit will happen automatically If you have paid employees in the… Read More Completing the March 2020 BAS for Covid Refunds
Another tranche of assistance packages was announced last night, the main points are summarised below For employers The BAS credits have been doubled re PAYG salary tax – I have updated the prior post to reflect the new percentages Small and medium business THAT EMPLOY SOMEONE will receive between $20k and $100k in additional cash… Read More Further Covid assistance
Further to my prior blog post about the first Corona Virus stimulus package, we now have a bit more detail about how those running a business can (or in some cases can’t) make a claim. First the sole traders & freelancers among you. Well a very disappointing outcome for the sole traders of Australia, as… Read More How to make a Stimulus Package claim
Announced today, but yet to be passed, are the following proposals ……. Provide a one-off tax free $750 cash payment to income support recipients, such as age pensioners or Department of Veterans’ Affairs (DVA) income recipients, or holders of eligible concession cards. To be eligible, the person must reside in Australia and be receiving a… Read More Stimulus Package
As proposed in the 2017 budget, the removal of the main residence CGT exemption for tax non-residents was legislated in Dec 2019 A rather draconian rule, the effect is that if you are tax non-resident on the date you sign the sales contract on your Australian property, you will not get any exemption at all… Read More Non-Resident with a home here? Quick – Sell it!
The current market corrections are an excellent example of non-disciplined investors perhaps panicking in a falling market leading to selling low and, presumably at a later date, buying high. This is the absolute opposite of what you are supposed to do in order to make money, i.e. buy low, sell high. In fact what would… Read More CoronaVirus
Bridgland & Co Blog 