JobKeeper and Updates to COVID-19 Stimulus Package and Economic Response at 14 April 2020

We have updated this document to incorporate the latest JobKeeper announcements and updates for all other COVID-19 Stimulus Package measures. Please click below to view/download. JobKeeper and Updates to COVID-19 Stimulus Package and Economic Response (at 14 April 2020) As always, to ask any questions and discuss this matter further, please call us on (07)…

Coronavirus Stimulus Package – What You Need to Know

The Government has announced a $17.6 billion investment package to support the economy over the coming months. We have prepared a guide that outlines the four part package which focuses on business investment, sustaining employers and driving cash into the economy.  All is to be legislated later this month, for now you can download the…

Urgent Action for Employers: Annualised wages arrangements

Changes to Fair Work rules, coming into effect this week, will impact most, if not all, employers. Fair Work’s annualised wages arrangements impose new record-keeping obligations on employers, including the requirement to keep a daily record of start times, breaks and finish times for all employees. All P+Y clients who employ staff are requested to review the new…

ATO natural disaster relief

The ATO offers a range of support for taxpayers affected by natural disasters. To find out more about relief for those affected by bushfires, including an automatic lodgement extension in identified impacted postcodes, please click here To find out more about relief for drought-stricken farmers, including instant asset write-off, immediate deductions for fodder storage assets…

SMSF investment strategy – action required

Throughout 2020, SMSF auditors are expected to focus on specific details and evidence around a fund’s investment strategy. It is important for SMSF Trustees to review their investment strategy to ensure that it meets requirements. To read a useful summary by The SMSF Advisor, please click here. For assistance in reviewing your investment strategy or…

Towards zero interest rates (and what it means for you)

With the RBA widely tipped to reduce interest rates again to historic lows, we share an interesting article by Easton Wealth economist Emmanuel Calligeris. Australia and World Volatility The ongoing trade war between the US and China has dominated financial market movements recently. The last two trading months have seen increased market volatility. In July,…

ATO sets its sights on undisclosed foreign income

Do you have any amounts of offshore income you haven’t declared to the ATO – perhaps interest from a foreign bank account? Even if it seems like a small amount, you must declare it. International data-sharing arrangements are making your overseas financial affairs increasingly transparent, so don’t get caught out. The ATO is reminding taxpayers…