Business Consulting — Blog — Accumulate Accountants + Business Advisors

ALERT: 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.

greg mawerAugust 11, 2020accumulate, Accounting, Perth Accounting, Mawer Consulting, Business Consulting

NEWS: Extension of the JobKeeper Payment

Sadly, many Australian businesses are a long way from trending back to 'normal' as we approach 27 September 2020, the original date that JobKeeper was set to end. Thankfully the government has announced an extension of the JobKeeper Payment, with additional turnover qualifications.

The JobKeeper Payment, which was originally due to run until 27 September 2020, will now continue to be available to eligible businesses (including the self-employed) and not-for-profits until 28 March 2021.

greg mawerAugust 4, 2020Perth Accounting, Accounting, Mawer Consulting, Accumulate, Business Consulting

ALERT: COVID-19 and Division 7A relief

The ATO has announced some limited relief for private companies that have loans to their shareholders or related parties that are governed by what are referred to as “complying loan agreements”.