January 2021 Tax Round Up - JobKeeper eligibility under pressure
by Knowledge Shop Editor, on 29/01/21 13:07
A recent case and a report from the Inspector General of Taxation have opened the door to a greater number of businesses accessing JobKeeper.
Join Michael Carruthers (Tax Director, Knowledge Shop), Matthew Tse (Tax Adviser, Knowledge Sop) and Lisa Armstrong (MD, Knowledge Shop), for just the juicy bits of change for accountants and advisers:
- JobKeeper eligibility - the impact of Apted v FC of T  AATA 5139 and the recent report from the Inspector General of Taxation on JobKeeper eligibility. Do you have clients who were previously denied or considered ineligible that might now be able to access JobKeeper?
- Detailed JobMaker rules released - the specific rules and reporting obligations for the JobMaker scheme have been released. Including an extended enrollment deadline.
- Tax status of COVID-19 State grants - the declaration of the Victorian grants that will be non-assessable non-exempt income.
- Further changes to the immediate expensing measures - the implications of Treasury Laws Amendment (2020 Measures No. 6) Bill 2020. This legislation makes several changes to the operation of the new immediate expensing for depreciating assets provisions which were announced in the 2020-21 Federal Budget. But, the changes add a layer of complexity for SBEs.