Here is our September tax newsletter which contains some important information on government changes due to Covid 19. The topics include:
- JobKeeper changes: turnover test and employment start date – Prime Minister Scott Morrison announced further changes to JobKeeper on 7 August 2020 regarding the turnover test and employment start date for eligibility.
- JobKeeper reference date now 1 July 2020 – For JobKeeper fortnights beginning on or after 3 August 2020, the reference date for determining certain employee eligibility conditions has been changed from 1 March 2020 to 1 July 2020.
- PM announces pandemic leave disaster payment for Victoria – Pandemic leave disaster payments from the Federal and Victorian governments are now available for workers in Victoria who have no sick leave available but who have to self-isolate because of COVID-19.
- Loans put on hold and debt forgiveness: ATO's views – The ATO has "clarified" its position on loans put on hold during COVID-19.
- Residency and source of income in the COVID-19 era – The ATO has issued an update on residency and source of income as they affect taxable income for Australian residents and foreign residents whose residency has changed due to the pandemic.
- ATO's employees guide for work expenses updated – This document is designed to assist employees to determine whether incurred expenses are tax deductible, and outlines the substantiation requirements.
- FBT: cars garaged at employees' homes during COVID-19 – The ATO has published a fact sheet to assist employers in determining if they have an FBT liability where cars are garaged at employees' homes because of COVID-19.
Please click the link below for all of the up to date information:
September 2020 Tax Newsletter
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