Tax Bulletin

October 1, 2020

Published by MC Tax Advisors at October 1, 2020

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Tax Bulletin

Tax Bulletin – September 2020

JobKeeper 2.0 has now commenced and the ATO has continued to updated its guidance on applying the new Rules. The Victorian Government has also introduced a further round of business support for affected businesses. In non-stimulus news, the Full Federal Court has handed down a welcome decision in the Eichmann case which relates to the active asset test. JOBKEEPER PAYMENT SCHEME UPDATES […]

August 31, 2020

Published by MC Tax Advisors at August 31, 2020

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Tax Bulletin

TAX BULLETIN – AUGUST 2020

August has seen the ATO release guidance on a number of issues associated with COVID-19, including when it will require the repayment of JobKeeper overpayments. The JobKeeper scheme has been amended to include employees that were employed by 1 July 2020 and, with Parliament sitting again, the Bill to extend the JobKeeper scheme has been introduced with the new Rules […]

August 3, 2020

Published by MC Tax Advisors at August 3, 2020

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Tax Bulletin

TAX BULLETIN – JULY 2020

July has seen the details released of an extended JobKeeper scheme under which payments are to be scaled back and eligibility re-tested. The Victorian State Government has also announced further funding to assist businesses with the worsening impact of Covid-19. ATO activity has included the release of guidance on when it will clawback JobKeeper overpayment amounts. LEGISLATION UPDATE With the July sitting of Parliament […]

July 1, 2020

Published by MC Tax Advisors at July 1, 2020

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Tax Bulletin

TAX BULLETIN – JUNE 2020

In June, Treasury finally postpone the proposed Division 7A changes which were scheduled to begin on 1 July 2020. With Parliament sitting again, legislation has also passed the Senate, including changes in relation to testamentary trusts and the extension of the $150,00 instant asset write off. The ATO are also starting compliance activity on the stimulus packages. LEGISLATION UPDATE Division […]