TASC - Accounting, Business & Financial Advisors

The federal government has announced changes to the JobKeeper Payment Scheme. With original plans to end on 27 September 2020, it has been extended 28 March 2021. ➡️ https://bit.ly/2ON3EwX

The payment rate for employees will change, with determinations placed on the number of hours worked.

As well, there have been additional turnover tests implemented for employees in order to be eligible for further Jobkeeper Payments.

Read all about it here ➡️ https://bit.ly/2ON3EwX

Are you a rental property owner and your income has been affected?

The ATO has provided some guidance for Rental Property Owners for Tax Time

Many property owners may have gone through numerous events affecting their income from tenants paying less or deferring payments. Events such as fires, floors and COVID-19 have been the main causes of this.

The ATO is aware of this and explains the most important step is to keep records of expenses.

Owners are advised to include rent as income at the time it is paid, so they only need to declare the rent received as income. If payments by tenants are deferred until the next financial year owners do not need to include these deferred payments until received.

If you are a rental property owner and your income has been affected, find out what you can do here ➡️ https://bit.ly/2DJYKib