April updates to economic response, 20 April 2020

Dec 4, 2020

April Update

Since the JobKeeper payment was first introduced at the end of March 2020, there have been a number of updates and further announcements made in support of the Government economic response to COVID-19.

These latest updates include:

  • JobKeeper payment – Since first introduced, the Australian Tax Office (ATO) has provided extra details including a step by step guide on the process and action required by employers being to enrol for the payment from April 20 onwards.
  • Land tax relief for landlords – States and territories have introduced additional packages to support residential and commercial landlords and tenants impacted by COVID-19. While each jurisdiction is different, many states will provide temporary land tax relief for landlords that offer their tenants, who are facing financial stress, a discount on rent.
  • National Cabinet Mandatory Code of Conduct – SME Commercial Leasing Principles during COVID-19 – A nationwide “Code” has been released to govern commercial, industrial and retail tenancies affected by the COVID-19 pandemic. This Code will be separately legislated and administered by each state and territory.

Read the full summary of the above updates here.

Disclaimer: This article contains general information only. The information contained in this article is not designed to be a substitute for professional advice as such a brief guide cannot consider and cover all individual needs, objectives, circumstances and conditions applying to the law as it relates to these items mentioned in this article. No responsibility can be accepted for errors, omissions or possible misleading statements or for any decisions or actions taken as a result of any material in this communication. Appropriate expert advice should always be considered from a professional financial adviser prior to making any financial decisions. Liability limited by a Scheme approved under Professional Standards Legislation.
Tax planning end of financial year checklist – 2023FY

Tax planning end of financial year checklist – 2023FY

May 19, 2023

With the end of the 2023 financial year approaching, we would like to draw your attention to some things worth considering as part of your year-end tax planning. Yes the notes within this newsletter are quite extensive however there is a lot for you to consider and...

read more
Due diligence when purchasing a business

Due diligence when purchasing a business

Nov 22, 2022

When considering to buy a business, it is essential to conduct due diligence to thoroughly investigate all aspects of it before making a binding decision to buy. The due diligence process involves the buyer making sure that they are not making a risky or poor...

read more
Record keeping for investment properties

Record keeping for investment properties

Sep 16, 2022

When you own an investment property, it is important to keep records of all associated costs and expenses for the whole duration that you own the property. Good record keeping will not only help with tax time but also important when you want to sell your investment...

read more
Changes to Queensland Land Tax Rules

Changes to Queensland Land Tax Rules

Aug 5, 2022

Changes to Queensland Land Tax RulesFrom 30 June 2023, land tax for Queensland landowners will be calculated based on their Australia-wide landholdings. Queensland land tax payable will still be based on the land value of the taxpayer’s Queensland landholdings however...

read more
Translate »
Skip to content