COVID-19 and loss utilisation
The ATO understands the way some businesses operate has been impacted as a result of COVID-19. Some of these impacts may have resulted in changes that affect whether they are Read More…
Companies holding meetings and signing documents electronically
Extension for companies’ electronic meetings and signatures The Government has made another determination extending the timeframe within which companies can hold meetings electronically and enabling electronic signatures to be used. Read More…
Tax treatment of JobKeeper Payments
Broadly, JobKeeper Payments received by an employer are assessable income to the employer Likewise, the payments an employer subsequently makes to an employee that are funded (in whole or in Read More…
2020/21 Federal Budget Summary
Omnis Group Federal Budget Summary 2020/21 Key points Changes to personal income tax rates Expanding access to Small Business Tax Concessions JobMaker Hiring Credit Uncapped immediate write-off for depreciable assets Read More…
Covid-19 and Division 7A relief
The ATO has announced some limited relief for private companies that have loans to their shareholders or related parties that are governed by what are referred to as “complying loan Read More…