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Posts Tagged ‘covid-19’

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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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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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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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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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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COVID-19: Super guarantee amnesty

The ATO has advised that employers affected by COVID-19 should apply for superannuation guarantee amnesty by 7 September 2020, even where they are concerned that, as a result of COVID-19, they will not be able to pay the liability. The ATO will work with employers to establish a flexible payment plan to assist in making…

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