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Star & Associates
Level 1, 58 Pitt Street
Sydney NSW 2000

Posts by Luke Star

Working from home? How to claim your home office tax deductions

With more office employees working from home as a result of the coronavirus crisis, the number of claims made to the Australian Taxation Office for home office expenses this year will soar. There are three ways of calculating home office expenses depending on your circumstances. The methods are the: Shortcut method (80 cents) – only available 1 March…

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Boosting cash flow for employers

Small and medium-sized businesses and not-for-profit entities, with an aggregated annual turnover of less than $50 million (usually based on their prior year’s turnover) that employ people, may be eligible to receive a total payment of up to $100,000 (with a minimum total payment of $20,000), based on their PAYG withholding obligations, in the following…

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COVID-19 (NSW): Guidelines on land tax relief

Revenue NSW has released guidelines on applying for the 2020 land tax COVID-19 relief program. Commercial and residential landowners who provide a reduction in rent to a tenant facing financial distress may be eligible for a land tax reduction. Landowners are responsible for verifying that a tenant is in financial distress, having experienced a reduction…

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Early release of superannuation for temporary residents

The Treasury Laws Amendment (Release of Superannuation on Compassionate Grounds) Regulations 2020 have been made to allow temporary residents affected by the adverse economic effects of coronavirus to have up to $10,000 released from their superannuation or retirement savings account on compassionate grounds. The regulations build on the amendments introduced in Sch 13 of the…

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COVID-19: Super guarantee exclusion for JobKeeper payments

The Superannuation Guarantee (Administration) Amendment (JobKeeper Payment) Regulations 2020 ensure employers need not make additional superannuation guarantee (SG) contributions as a result of participating in the JobKeeper scheme. The exclusion is relevant for employees otherwise earning wages of less than $1,500 per fortnight, which is the minimum payment required under the scheme.   An employer…

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New South Wales release COVID-19 payroll tax relief packages

Payroll tax waiver for businesses with payrolls of up to $10 million, for the months from April to June 2020. Additional measures include waiving of fees and charges for small businesses, employment of additional cleaners of public infrastructure, and bringing forward maintenance of public assets and capital works.

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The JobKeeper Payment

The Federal Government has announced (as part of its Coronavirus Stimulus Package) the introduction of a new JobKeeper Payment to assist eligible employers (and self-employed individuals) who have been impacted by the Coronavirus pandemic to continue to pay their workers. The following is a broad summary of the key aspects of the proposed JobKeeper Payment,…

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COVID-19: HomeBuilder grant

The government will introduce a $25,000 grant for eligible owner-occupiers to build a new home or substantially renovate an existing home.     The HomeBuilder grant will be available to individuals under the $125,000 income cap ($200,000 for couples) entering into a building contract between 3 June and 31 December 2020 to build a new home…

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Jobkeeper alternative test rules

The Commissioner has registered Legislative Instrument Coronavirus Economic Response Package (Payments and Benefits) Alternative Decline in Turnover Test Rules 2020. The rules provide alternative bases for a class of entities to satisfy the decline in turnover test for the purposes of seeking to be a qualifying employer for JobKeeper payments, when the Commissioner is satisfied…

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COVID-19: Instant asset write-off extended to 31 December 2020

The government will extend the $150,000 instant asset write-off for six months to 31 December 2020.     Australian businesses with annual turnover of less than $500 million will be able to take advantage of this extended time frame to invest in assets to support their business as the economy reopens and coronavirus health restrictions continue…

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