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August 2020

MLCo • Aug 17, 2020

On 21 July 2020, the Government announced that the JobKeeper Payment ('JKP') would be extended until 28 March 2021 (i.e., for a further six months beyond its original end date of 27 September 2020).

As a result, JKPs would now be made over two separate extension periods, being:

  • Extension period 1 – which covers the seven new JobKeeper fortnights that commence on 28 September 2020 and end on 3 January 2021; and
  • Extension period 2 – which covers the six new JobKeeper fortnights that commence on 4 January 2021 and end on 28 March 2021.

In addition, there are new rules for the JobKeeper Extension periods as follows:

  • New actual decline in turnover tests for both periods; and
  • Eligibility criteria that determines Tier 1 & Tier 2 payment rates for employees and business participants.

We will provide further information on our Coronavirus Info page as it comes to hand.

READ MORE

80 cents per hour 'shortcut' method for home office expenses has been extended 

Back in April 2020 the ATO announced that a 'shortcut' method was to be made available to  use from 1 March 2020 until 30 June 2020 for individuals claiming home office expenses due to COVID-19. The ATO has recently announced an extension of this shortcut method to also include 1 July 2020 to 30 September 2020.

 

If you have any queries please do not hesitate  to  contact us .

 

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