An in-depth look at applying key aspects of the stimulus package in practice
Recorded 1 April & 8 April 2020
FPA accreditation: 21343 & 21344 Total CPD hours: 2.75
0.50 Regulatory compliance & consumer protection
2.25 Technical competence
Webinar 1 - Managing the PAYGW cash flow boost measures Webinar 2 - Applying the new instant asset write-off and accelerated depreciation rules
This series takes an in-depth look at the practical detail and application of the two key measures likely to impact on your business clients - the PAYGW cash flow boost and the instant asset write-off and accelerated depreciation rules.
The Government has rushed through a number of measures designed to shelter the Australian economy from the impact of the Coronavirus. Some of the measures will be delivered through the tax system and a wide range of businesses will be able to benefit.
The first part of this series works through the cash flow boost measures relating to PAYGW amounts. The rules in this area are complex and it will be important for practitioners to understand exactly what needs to be done for clients to access this measure and how the specific integrity rules will operate.
In the second part we focus on the rules aimed at depreciating assets for business clients. We work through the timing rules, which assets can qualify for an immediate deduction, when SBE general pools can be written off and how the accelerated depreciation rules will apply.
In both webinars we will cover some of the planning opportunities and tip and traps that you need to be aware of.
What we cover
Part 1: PAYGW cash flow boost measures
Who will be able to receive credits for PAYGW amounts
How the rules apply to groups with multiple entities or employers
Calculating the credits and timing of the refund
Triggering entitlement to the credits – get your timing right
Practical issues and flow-on implications associated with these rules
Integrity rules that you need to be aware of
Planning opportunities to get the best result for your client
Michael oversees the development of the tax team for Knowledge Shop and Hayes Knight in Sydney and is head of the Easton group’s national tax committee.
Michael has a knack for seeing through the complexity and helping practitioners work through highly technical issues with certainty and accuracy. Michael is a member of the advisory panel for the Board of Taxation and was a member of the reference group for the Board’s review of small business concessions.
He was also an expert panel member for the Board’s review of tax impediments facing small business.
Michael Carruthers
Tax Director, Knowledge Shop
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