The broadening of the income tax system under then Treasurer, the Hon Paul Keating, to encompass capital gains tax (CGT), from 20 September 1985 represented a profound structural shift in Australia’s federal income tax system.
On Tuesday, the Federal Government released details of its extension to the JobKeeper scheme beyond September 2020. As previously announced, the JobKeeper payment will be extended for two periods, being the December 2020 quarter and March 2021 quarters.
Under proposed amendments to the JobKeeper rules, employers who previously qualified for JobKeeper 1.0, but do not qualify for JobKeeper 2.0, may continue to issue certain directions to their employees beyond 27 September 2020 if they can demonstrate a minimum 10% decline in turnover for the relevant quarter.
Amendments to the JobKeeper rules have made changes to the decline in turnover test that will apply to JobKeeper extension payments. Employers must now calculate their decline in turnover under the GST attribution rules that apply to them for BAS reporting purposes.
Dan joined Pitcher Partners in 2016 and has audit experience across a broad range of industries, with clients including ASX-listed entities, public companies, large and small proprietary companies, and not-for-profit entities. Dan works collaboratively with auditing businesses to ensure their compliance obligations are met, underpinned by commercial insights that add value, address risk and help […]
Pitcher Partners has acted for PFD Food Services in connection with ASX-listed Woolworths Group’s $552m acquisition of a 65% equity stake and related distribution centres.
On Friday, the Treasurer issued amendments to the Coronavirus Economic Response Package (Payments and Benefits) Rules (the Rules) to give effect to the Government’s earlier announcement that it would extend the employee test date to 1 July 2020.
In response to the economic implications of Victoria’s Stage 4 restrictions, the Federal Government has announced “tweaks” to the JobKeeper 2.0 payment rules – the rules that govern entitlements after 27 September 2020.
The ATO has commenced reviewing the eligibility of businesses that have accessed the JobKeeper scheme, with the intention to review all enrolled taxpayers within its top 500 private group program, as well as a broad range of taxpayers outside of that group. The compliance phase of the JobKeeper program aims to verify that businesses that […]
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