Employee COVID-19 tests now tax deductible
From 1 July 2021, employees can claim a tax deduction for COVID-19 tests that are purchased for work purposes. Find out more about the record-keeping requirements to claim the expense.
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COVID-19 financial support measures
Unfortunately, the potential to experience financial difficulty due to COVID-19 still persists. In this article, we provide a brief overview of two key Government COVID-19 financial support measures.
Temporary full expensing
Find out if your business might benefit from the temporary full expensing or loss carry back incentives in response to the COVID-19 pandemic.
2021 COVID-19 Business Support Grants for Queensland
$5,000 grants will be made available to small and medium businesses across Queensland affected by the COVID-19 lockdown that commenced on Saturday 31 July 2021 and lockdowns in other states.
Boosting Apprenticeship Commencements wage subsidy program
An extension to the government’s apprenticeship wage subsidy program for another 12 months has been announced.
JobKeeper extension 2 has started
The second JobKeeper extension has started and covers the JobKeeper fortnights between Monday 4 January and Sunday 28 March 2021. See if you are eligible for JobKeeper extension 2 even if you weren’t eligible for extension 1.
Back to work in agriculture incentive scheme
QLD agricultural employees could be eligible for payments of up to $1,500 to assist with accommodation & transport costs associated with travelling and staying remotely. Applications close once all funding has been allocated or before 30 June 2021.
New JobMaker Hiring Credit
Registrations are now open for the JobMaker Hiring Credit. Find out about the eligibility criteria and how to register as an employer.
Federal Budget farm machinery write-offs
Under the Federal Budget handed down this month, farmers can instantly write off the full value of machinery purchases. Previously, a portion would have been tax-deductible in the first year, and the rest would have depreciated over future years.
JobKeeper V2 Payment
Employers wanting to claim JobKeeper payments from 28 September will need to reassess their eligibility and prove that turnover has declined. Some businesses that did not qualify for the original JobKeeper payments may find that they now qualify for the new JobKeeper payments.
Know your boosts inside and out
If you’ve received a cash flow boost, you may be wondering if the amounts you’ve received affect your income or deductions this tax time. Here are the four essentials you need to know when lodging your tax return.
Discuss Your Financial Goals Online!
If you are not able to visit us in person, or it is more convenient to work with us digitally, we have the capability and technology to make it easier for us to connect with you. We have also considered how we can do this in a safer online environment.
Cash Boost for P&Cs
The ATO Not-for-Profit team are keen to ensure all eligible P&Cs receive their Cash Boost entitlement. In order to streamline the process, P&Cs are invited to complete a survey.
Coronavirus Supplement and JobSeeker Payment update
We provide a summary of the update including announcements made in relation to the COVID-19 Coronavirus Supplement and JobSeeker Payment, JobKeeper Payment, Apprentices and Trainees wage subsidy and the Coronavirus SME Guarantee Scheme.
Extension of the JobKeeper Payment
The Government is extending the JobKeeper Payment by a further six months to March 2021. Support will be targeted to businesses and not-for-profits that continue to be significantly impacted by the Coronavirus. The payment rate will be reduced and a lower payment rate will be introduced for those who work fewer hours. Retesting of eligibility will apply.
HomeBuilder explained
It’s true – we are biased at Carrick Aland because we believe that we have some of the best builders around as clients. If after reading about the HomeHuilder scheme you want to discuss taking matters further with any of our talented tradie clients, give us a call and we will put you in touch.
Own a rental? What you need to know this tax time
The COVID-19 pandemic has placed property owners and tenants in unforeseen circumstances. Many tenants are paying reduced rent or have ceased paying because their income has been adversely affected by COVID-19.
ABS reveals COVID impact, widespread business revenue drop
Two-thirds of Aussie businesses have suffered a decrease in business revenue compared to last year, with more than three in every 10 estimating that drop to have exceeded 50 per cent, according to the ABS Business Impacts of COVID-19 Survey results for June 2020.
WDRC Round 2 – Business Recovery Planning Initiative
Council will extend the Business Recovery Planning Initiative and will offer a second round of free consultation sessions to local businesses. Applications reopen on 1 July 2020. WDRC will reimburse professional service providers up to $605 for each business consult so business owners are supported at this critical time in their recovery.
Breaking News – QLD Small Business COVID-19 Adaption Grant Round 2
⚠️ The QLD Government’s Small Business COVID-19 Adaption Grant Program Round 2 opens 1 July 2020. To get ready to submit an application, save the date and read on. Hurry! The first round closed fast.
QLD non-essential business and activities
Update to keeping safe by restricting business and activities to prevent new cases of COVID-19.
QLD Small Business Adaption Grant Program
The objective of this program is to support small businesses subject to closure or highly impacted by the coronavirus (COVID-19) shutdown restrictions announced by the Queensland Government, to adapt and sustain their operations, and build resilience.
JobKeeper Payment phone scam
⚠️ The ATO is receiving reports of scammers pretending to be from the ATO calling members of the public and asking them to provide their bank account details. They are saying that their employer has registered them for JobKeeper, but that the ATO needs their bank account details to deposit the funds into their account. Do not provide the information requested. If you are unsure if an ATO call is legitimate, hang up and phone 1800 008 540 to check.
COVID-19 and residential rental property
The ATO has developed some information to assist clients with residential rental property to understand their tax obligations during COVID-19. Check the frequently asked questions link for help with answers to common questions.
The Government’s JobKeeper Payment explained
If your business is signed up to receive the JobKeeper payment subsidy, the first monthly report is due BEFORE you get paid.
COVID-19 and the Importance of Life Insurance
The advent of a global pandemic in COVID-19 has been a shocking event in many ways, more obviously from a health perspective. COVID-19 is clearly a highly dangerous virus for…
Increase in Scams Targeting Superannuation
The ACCC has advised that scammers are taking advantage of people financially impacted by the Coronavirus crisis by falsely selling products or services online and using fake emails or text messages to try and obtain personal data.
Summary of COVID-19 stimulus announcements
Please review our summary of economic stimulus as each currently stands and contact Carrick Aland to discuss further your options and what may be available for you. We have outlined details for 13 Federal and State Government initiatives.
Understanding Changes to Centrelink Entitlements
Are you concerned about your Social Security (and Department of Veterans’ Affairs) pensions and other income support benefits due to the Coronavirus situation? Recent changes in the value of your investments due to market movements may increase your social security entitlements, or you may become eligible for a benefit.
Update on Government Stimulus Measures to Combat Coronavirus
Since the release of the Coronavirus stimulus package there has been some clarification of several measures and a number of further announcements which seek to extend assistance to more people who have been impacted.
Are you concerned about your business in these uncertain times?
As the coronavirus impacts our country and our way of life, we’re not only helping farm and business owners to endure the COVID-19 crisis; we’re future planning with families and businesses to thrive beyond it.
Employees working from home
Working from home because of coronavirus? You’re now eligible for a new 80 cents per hour tax shortcut.
$50M in coronavirus tax relief for Qld pubs and clubs
The Qld Government has announced extra tax relief for Queensland pubs and clubs who are impacted by the new measures introduced in response to the Coronavirus (COVID-19) health crisis.
Carrick Aland COVID-19 office update April 2020
In the interests of the health and safety of your team and ours, all our communication with you can be done digitally. As circumstances change on a daily basis, we will continue to communicate any updates as they happen.
FREE Working from Home ATO factsheet
If you work from home right now, remember to keep records and receipts for your home office expenses, along with a record of the hours you work from home. Keeping good records now will help to get your deductions right at tax time. The ATO has a PDF poster you can download to help understand what you can claim.
Mental health and wellbeing during the Coronavirus COVID-19 outbreak
It is understandable that during times like this, people may be feeling afraid, worried, anxious and overwhelmed by the constantly changing alerts and media coverage regarding the spread of the virus. While it is important to stay informed, we outline some mental health and wellbeing tips and strategies to continue looking after ourselves and each other during these difficult times.
State and territory information, grants and assistance
Find the latest coronavirus information, grants and support in your state or territory.
Coronavirus and Australian workplace laws
Find out about your workplace entitlements and obligations if you’re affected by the outbreak of COVID-19, including information about stand downs from work, working arrangements impacted by school closures, and pay and sick leave entitlements.
Coronavirus support available for sole traders
The Australian Government has announced measures to support businesses impacted by the coronavirus (COVID-19). If you’re a sole trader, learn what your business can get and where to go for help.
Coronavirus JobKeeper Payment
The Government has announced a $130 billion JobKeeper payment to help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus.
Cash flow assistance for small business including P&Cs
The Government has increased its stimulus package to businesses and not-for-profits that have employees. State School P&Cs will qualify if they had employees at the 12th March 2020.
Widespread reports of COVID-19 malicious scams
In the last three months, the ACSC and the Australian Competition and the Consumer Commission’s (ACCC) Scamwatch have received over 140 reports from individuals and businesses across Australia.
QRIDA COVID-19 Jobs Support Loans
The Queensland Government’s $1 billion COVID-19 Jobs Support Loan scheme is closed. QRIDA has updated its COVID-19 Jobs Support Loan page to indicate what successful candidates can expect for ongoing management of their loan.
Government’s Stimulus Package response for business
The Government is providing cash flow assistance for eligible businesses in the form of two separate measures. The following is a broad summary of the key aspects of the stimulus package in response to the Coronavirus, as recently announced and enacted.
Government’s Stimulus Package response to the Coronavirus for individuals
Various income support for individuals measures have been introduced so as to provide a ‘safety net’ for individuals who are financially impacted by the Coronavirus.
Income support for Individuals
To help with cash flow pressures during the coronavirus epidemic, the Commonwealth Government has made available an additional $550 per person per fortnight eligible for Farm Household Allowance as part of the updated economic stimulus package. We urge you to call us now on 07 4669 9800 to check your eligibility and for help with the application.
Coronavirus Economic Stimulus Package UPDATE
The Commonwealth Government yesterday released the second stage of its stimulus plan to cushion the economic impact of the coronavirus and help build a bridge to recovery. A total of $189 billion is being injected into the economy by all arms of Government in order to keep Australians in work and businesses in business.