As Covid-19 continues to affect the current business climate and employees continue to work from home as a result, the Australian Taxation Office (ATO) has advised that the “shortcut” rate for claiming work from home running expenses has been extended again.
Has your business incurred a loss due to the Covid-19 pandemic? If so, loss carried back rules introduced by the Government may be able to be applied
The Federal Government’s Coronavirus Supplement has been extended for a further three months. The catch is that the Supplement rate will be further cut from 1 January 2021 to $150 per fortnight.
Several of the tax announcements from the 2020 Federal Budget have now been passed into law. These are applicable to both personal tax cuts and business concessions.
