On 21 July 2020, the government announced that the JobKeeper Payment will be extended until 28 March 2021. Changes to eligibility requirements and payment rates will apply from 28 September 2020 and the ATO is currently working through the details of these announced changes.
If you have purchased assets for your business, remember that you may be eligible to claim an immediate deduction under the instant asset write-off.
Tax time 2020 is here and many individuals are eager to lodge their tax returns early to get their hands on a refund. The ATO however, is warning against lodging too early, before all your information becomes available.
The ATO holds a wide range of formal and informal information gathering powers at their helm, and it often comes as a surprise how much they actually know about you.
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