Update to JobKeeper 2.0 and Extension of Fair Work Amendments

JobKeeper 2.0 The ATO has released updated information regarding JobKeeper 2.0. Please click below to view/download JobKeeper 2.0 Extension of Fair Work Amendments If employers are currently using JobKeeper enabled stand-down directions, they will expire 28 September 2020.  The Fair Work amendments have been extended to allow JobKeeper enabled stand-down directions to continue beyond 28…

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,…