OUR LATEST NEWS

ATO, boost, business, cashflow, Payment, Tax

The ATO has denied any systemic issues around the processing of the cash-flow boost measure, noting that it only continues to interrogate claims in a “very small number of cases”. It is now understood that a recalibration of the ATO’s dataset over the past weekend should ensure the cash-flow boost payments are processed more smoothly,…

In the lead-up to 30 June 2020, we want you to be aware of opportunities to save tax with super contributions.

2020 Tax Planning | Opportunities with Superannuation for 2020

May 20, 2020

2020, Contributions, Super, Super Contributions, Superannuation, Tax, Tax Planning, Tax Time

When you retire, your superannuation is likely to become an important source of your income. That’s why it’s a good idea to top it up while you are working. But did you know, there are also some excellent tax benefits you can take advantage of right now – just by making your own voluntary superannuation…

COVID-19 | We Are Back

May 18, 2020

Appointment, Coronavirus, COVID-19, COVID19, Office

First and foremost, The Garis Group would like to thank everyone for being so understanding and co-operative during the past few months as we adapted to our new working conditions. No cases of COVID-19 have been detected at The Garis Group office but we are taking further precautions to respond to this unprecedented and evolving…

2020 Tax Planning | Reduce your 2020 Tax!

May 13, 2020

2020, Business Tax, Personal Tax, Tax, Tax Planning

With the end of financial year approaching quickly, NOW is the time to discuss with us the actions you can take before 30 June 2020 to reduce your tax and grow your wealth! For 2020, key priorities are likely to include: Maximising superannuation contributions without exceeding the relevant caps Bringing forward deductible expenses Deferring taxable income Managing…

COVID-19 | Bridging Funding for JobKeeper

April 30, 2020

Coronavirus, COVID-19, COVID19, Jobkeeper, JobKeeper Payment, Small Business

Senator the Hon Michaelia Cash has released the following update to assist Small Businesses and Households impacted by COVID-19 Bridging Funding for JobKeeper Australian banks are playing a vitally important role in bridging the finance that businesses need to pay their staff ahead of receiving the first JobKeeper Payment in the first week of May.…

JobKeeper to address service entities: Josh Frydenberg

COVID-19 | Special Purpose Service Entities Now Included in JobKeeper Scheme

April 30, 2020

ATO, Coronavirus, COVID-19, COVID19, Jobkeeper, Service Entity, Small Business

Corporate groups that employ staff in a service entity will now be included in the JobKeeper scheme under a yet-to-be-announced alternate decline in turnover test. Revealed by Treasurer Josh Frydenberg on Friday night, the government will now provide an alternate decline in turnover test for the eligibility of special purpose service entities that provide employee…

COVID-19 | ATO Extends Initial JobKeeper Payment Deadline

April 29, 2020

ATO, Coronavirus, COVID-19, COVID19, employee, Employer, Jobkeeper, Small Business

Employers looking to enrol for the first two JobKeeper fortnights have now been granted a further extension of time to enrol and pay employees. The ATO has now announced an extension of time for employers who wish to enrol for the first two JobKeeper fortnights to 31 May, an extension from 30 April. Crucially, for…

COVID-19 Australias Major Banks agree to 'Bridging Finance" for JobKeeper Payment

COVID-19 | Major Banks Agree to Provide ‘Bridging Finance’ to Help Businesses

April 28, 2020

ATO, business, Coronavirus, COVID-19, Jobkeeper, Small Business, Tax

Businesses will be given a leg up by Australia’s major banks through sped-up loans to cover upfront staff wages before the ATO reimburses the $1,500 per fortnight JobKeeper payment each month. Treasurer Josh Frydenberg has announced that Australia’s four major banks have now agreed to provide “bridging finance” to help businesses pay their employees before…

ATO issues further guidance for sole traders, trusts, partnerships, companies

COVID-19 | Job Keeper Payment: Further Guidance for Sole Traders, Trusts, Partnerships & Companies

April 17, 2020