Oct 2020 Tax Round Up: Jobkeeper extension and alternative test

by Knowledge Shop Editor, on 01/10/20 16:09

JobKeeper and more JobKeeper. The rules are out, the alternative tests in play, and the tax treatment further defined.

Members, download the full October 2020 Tax Round Up (login first) from the member-only website. To see what Knowledge Shop membership offers, call the team on 1800 800 232 or take an online tour.

Join Michael Carruthers (Tax Director, Knowledge Shop), Matthew Tse (Tax Adviser, Knowledge Shop) and Lisa Armstrong (MD, Knowledge Shop), for just the juicy bits of change for accountants and advisers:

  • JobKeeper 2.0 details confirmed for extension and alternative tests – the Rules for the JobKeeper extension and what’s different, and the release of the legislative instrument defining the alternative for the decline in turnover tests.
  • Tax treatment of Jobkeeper – we clarify the tax treatment of payments and the implications of this treatment
  • Eichmann v FC of T [2020] FCAFC 155 - The Full Federal Court has overturned a decision of the Federal Court in the Eichmann case looking at whether land used for storage was an active asset.

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Topics:Tax Round Up



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