Step 1: Determine eligibility Eligible employers Employers are eligible for the JobKeeper payment if all of the following apply: On 1 March 2020, you carried on a business in Australia or were a not-for-profit organisation that pursued your objectives principally in Australia. You employed at least one eligible employee on 1 March 2020. Your eligible employees are […]
New JobKeeper Payment – Announced 30 March 2020
This new response to the Coronavirus was announced on 30 March in an attempt to save jobs of people who might have otherwise been stood down or even lost their jobs already. It also goes further, to cover those self-employed who don’t employ, as well as employers with employees who have been stood down without […]
The Importance of good record keeping in trying times
Wow, a lot can change in a week or so. Business has just got tougher for most people and some industries even need to close as measures to combat the spread of the Coronavirus. In times like these, business owners go in to survival mode and tend to ignore the things they can control as […]
UPDATED: Proposed economic responses: how does it affect you?
Up to date as at 23/03/2020. FEDERAL[1] 1. Instant Asset Write Off threshold (from 12/03/2020 to 30/06/2020) The threshold will increase from $30,000 to $150,000 This will apply to businesses with aggregated annual turnover of less than $500 million, up from $50 million. How does it work? You may be able to claim the cost […]
Technology v Expertise: who’s the winner?
Technology v Expertise: who’s the winner? Software developers have reinforced the message that by systemising certain functions they can be left to set and forget. However, there is a danger in relying too much on technology, especially in relation to payroll. While everyone may not have a business the size of Woolworths or Wesfarmers where […]
Get ready for Single Touch Payroll
Get ready for Single Touch Payroll! Single Touch Payroll (STP) reporting is available through payroll, accounting and business management software. Most software providers are offering STP-enabled products for Employers. What is it? STP automatically sends tax and super information from your payroll or accounting software to the ATO as you run your payroll. Once STP […]
