Douglas & Harrison News
December Newsletter Published 08.12.2020
December Newsletter Published 08.12.2020
Our December Newsletter was sent out today – Did you receive yours?
December 2020 Issue Covered
- A STRATEGY OPENS
- THE MECHANISM
- Calling time out on your business? Some essentials you’ll need to know
– STEP 1: LODGEMENT AND PAYMENT
– STEP 2: REFUNDS
– STEP 3: CANCEL PAY-AS-YOU-GO (PAYG) WITHHOLDING REGISTRATIONS
– STEP […]
November Newsletter Published 11.11.2020
November Newsletter Published 11.11.2020
Our November Newsletter was sent out today – Did you receive yours?
November 2020 Issue Covered
- What the “full expensing” write-off deduction means for business
– Some existing conditions remain
– Meeting the required conditions
– Anti-avoidance provision - Both tax and SMSF audits on still on ATO’s radar, but some leniency given
– […]
Federal Budget 2020 – 2021
Federal Budget 2020 – 2021
Our Federal Budget 2020 – 2021 Newsletter was sent out today – Did you receive yours?
Federal Budget 2020 – 2021 Issue Covered
- BUSINESS
– FBT exemption to support retraining and reskilling
– Reducing the FBT compliance burden of record keeping
– Individual tax rates for residents
– Increase to small business […]
October Newsletter Published 01.10.2020
October Newsletter Published 01.10.2020
Our October Newsletter was sent out today – Did you receive yours?
October 2020 Issue Covered
- JobKeeper rules, conditions and payment rates have changed
– JobKeeper is a two-tiered payment arrangement - New data matching programs initiated by the Federal Government
– SMEs: ATO confirms JobKeeper payments do not contribute to aggregated […]
JobKeeper Payment Scheme Extension
JobKeeper Payment Scheme Extension
The JobKeeper Payment scheme has been extended until 28 March 2021, see https://www.ato.gov.au/General/JobKeeper-Payment/JobKeeper-extension-announcement/
The first phase of JobKeeper was designed to get money out to businesses as quickly as possible. An unintended consequence of this was some employees being paid more on JobKeeper than they had been before COVID. Businesses […]
Third Round of Business Support Fund Grants – NOW OPEN
Third Round of Business Support Fund Grants – NOW OPEN
Eligible businesses will receive grants of $10,000, $15,000 or $20,000, depending on the business’ annual payroll.
It is important you check your ANZSIC industry classification on the Australian Business Register website to confirm your eligibility. Eligible industries can be found in the ‘
September Newsletter Published 01.09.2020
September Newsletter Published 01.09.2020
Our September Newsletter was sent out today – Did you receive yours?
September 2020 Issue Covered
- COVID-19 payments and some issues for companies and trusts
– Trust distributions
– Cash flow boost
– JobKeeper
– Franking credits
– Company beneficiaries
— JobKeeper amendments
— Business can claim previous year tax losses - COVID-19 and trust liquidity issues
[…]
Further Land Tax Relief for Landlords and Business Owners
Further Land Tax Relief for Landlords and Business Owners
The Victorian Government has announced further land tax relief for landlords and business owners, in response to the coronavirus (COVID-19) pandemic, as part of its extension of the commercial and residential tenancy relief schemes until 31 December 2020.
- An increased 50% waiver of the […]
Urgent JobKeeper Action Required
Urgent JobKeeper Action Required
The Government has amended the JobKeeper rules to allow more employees to qualify for the JobKeeper payment. This is achieved by extending the eligible employee test to also include eligible employees who were employed on 1 July 2020 (in addition to those employed on the original 1 March 2020 employment date), where they […]
August Newsletter Published 03.08.2020
August Newsletter Published 03.08.2020
Our August Newsletter was sent out today – Did you receive yours?
August 2020 Issue Covered
- The JobKeeper scheme gets an update, plus an extension
– The JobKeeper Payment Rate
– Employees
– Additional Turnover Tests - Has your super fund got you covered for insurance?
– With COVID-19, maybe not
– COVID-19 impact on […]
$5000 Grant to Help Small Businesses
$5000 Grant to Help Small Businesses
$5,000 Grant to Help Businesses Through Temporary Coronavirus (COVID-19) Lockdowns
The return to Stage 3 Stay at Home restrictions mean that businesses such as restaurants, cafes, pubs, gyms, indoor sporting venues, cinemas, live music, entertainment venues and other businesses can no longer operate as they would like.
As a result, the Victorian State […]
Workcover & JobKeeper Information for Employers
Workcover & JobKeeper Information for Employers
Information for Employers
Commonwealth Government JobKeeper Payments and Victorian WorkCover Premiums
On 5 May 2020, the Victorian Government confirmed that any eligible Commonwealth Government JobKeeper Payments to meet the $1,500 threshold will not affect the calculation of the WorkCover premium. Therefore, not all Commonwealth Government JobKeeper Payments are included in your annual WorkCover […]
Local Lockdowns Business Support Program – Victorian State Government
Local Lockdowns Business Support Program
Local Lockdowns Business Support Program – Victorian State Government
$5,000 grant to help businesses through temporary coronavirus (COVID-19) lockdowns.
As announced on Tuesday 30 June 2020, specific postcodes in Victoria will return to Stage 3 Stay at Home restrictions to help slow the spread of coronavirus (COVID-19).
- What support is available?
Businesses that are operating […]
July Newsletter Published 02.07.2020
July Newsletter Published 02.07.2020
Our July Newsletter was sent out today – Did you receive yours?
July 2020 Issue Covered
- POINTS TO REMEMBER
- DEDUCTIONS
- OFF THE DEDUCTION MENU
- INSTANT ASSET WRITE OFF EXTENDED TO 31 DECEMBER
- THE REALITIES OF INSURING AGAINST CYBER CRIME
– Proactive IT management and response plan
– What does proactive IT […]
Government $25,000 HomeBuilder Scheme
Government $25,000 HomeBuilder Scheme
HomeBuilder package unveiled;
The Federal Government has unveiled its HomeBuilder package, offering $25,000 for people to upgrade or build their homes.
From 4 June 2020 until 31 December 2020, HomeBuilder will provide all eligible owner-occupiers (not just first home buyers) with a grant of $25,000 […]
June Newsletter Published 02.06.2020
June Newsletter Published 02.06.2020
Our June Newsletter was sent out today – Did you receive yours?
June 2020 Issue Covered
- INVESTMENT PROPERTY
- PRE-PAY INVESTMENT LOAN INTEREST
- BRING FORWARD EXPENSES OR DEFER INCOME
- USE THE CGT RULES TO YOUR ADVANTAGE
- FINAL REMINDERS
- Expatriates: Part-year resident or non-resident for tax purposes?
– Topics included;
– Rental […]
Coronavirus Land Tax Relief for Landlords
Coronavirus Land Tax Relief for Landlords 
May Newsletter Published 01.05.2020
May Newsletter Published 01.05.2020
Our May Newsletter was sent out today – Did you receive yours?
May 2020 Issue Covered
- CAPITAL GAINS – Topics included;
– CLAIMING COVID WORK-AT-HOME DEDUCTIONS
– EXPENSES THAT CAN BE CLAIMED
– EXPENSES NOT WITHIN THE COVID-19 AMBIT
– CALCULATING RUNNING EXPENSES
– SHORTCUT METHOD - Your Business and the JobKeeper Scheme – Topics […]
JobKeeper Payment for Employers – Enrol Now
JobKeeper Payment for Employers – Enrol Now
Eligible businesses can now enrol with […]
JobKeeper Update Action Now Needed
Jobkeeper Update – Action Now Needed
We understand these are challenging times and it is difficult to keep abreast of all the changes and information being provided around the Government COVID-19 stimulus packages.
We have attempted to summarise below important […]
Mandatory Industry Code for Commercial and Retail Leases
Mandatory Industry Code for Commercial and Retail Leases
SME commercial leasing principles during COVID-19.
The Code will be legislated and managed by the States and Territories and will be subject to binding mediation.
The two core principles underpinning the Code will be good faith and proportionality, with landlords and tenants […]
Superannuation Changes 7 April 2020
Superannuation Changes 7 April 2020
Superannuation Changes 7 April 2020 was sent out today – Did you receive yours?
Superannuation Changes 7th April 2020 Issue Covered
- Reduction to Minimum Super Pensions by 50%
- Access to Superannuation up to $10,000 Before and After 1 July 2020
Eligibility - Re Contribution Strategies
- Temporary Reduction in Rent for […]
April Newsletter Published 03.04.2020
April Newsletter Published 03.04.2020
Our April Newsletter was sent out today – Did you receive yours?
April 2020 Issue Covered
- 17 Key points: The JobKeeper package – Jobkeeper package completely explained, point by point.
- Coronavirus Stimulus Package – Topics included;
INSTANT ASSET WRITE-OFF
ACCELERATED DEPRECIATION
BOOSTING CASH FLOW FOR EMPLOYERS
THE ANTI-AVOIDANCE PROVISION
SUPERANNUATION CONTRIBUTIONS
SGC AMNESTY
STIMULUS PAYMENTS […]
JobKeeper Package for Employers/Employees
JobKeeper Package for Employers/Employees
Dear Clients
JobKeeper Package for Employers/Employees (FACT Sheets Below)
The Australian Government yesterday released a further measure to support businesses and employees.
This package will provide a flat minimum payment of $1,500 per employee per fortnight over the next 6 months to businesses affected by coronavirus COVID-19. This amount is equivalent to 70% of the […]