COVID-19 $150,000 Instant Asset Write Off limit extended to 31st December 2020

The limit had been moving gradually up for a number of years and was sitting at $30,000 at the beginning of this year. In response to the rapidly escalating COVID-19 pandemic and its impact on business, the Government announced a range of stimulus measures, one of which was a significant increase of this limit to $150,000 per asset, as well as an increase in the eligibility threshold to businesses with annual turnover of up to $500 million.

You can read the full version here.

Posted: June 18, 2020 | 0 comments

COVID-19 JobKeeper: Declarations must be lodged by 14th June

The declaration must contain:

  1. Confirmation of the number of eligible employees and/or 'business participants' ;
  2. The value of GST turnover for the reporting month; and
  3. The value of projected GST turnover for the following month

With that in mind, we remind you that JobKeeper declarations for May must be made on or before 14th June 2020

You can read the full version here.

Posted: June 09, 2020 | 0 comments