The ATO has clarified the tax treatment of JobKeeper payments handed back to the Government.

Tax Treatment of JobKeeper Payments Handed Back to ATO

The ATO has clarified the tax treatment of JobKeeper payments handed back to the Government. The clarification comes after the Super Retail Group, Dominos Pizza and Toyota collectively returned more than $20 million in JobKeeper payments after reporting exceptional trading results. Where a business has handed back JobKeeper despite qualifying for the payments, the ATO…

Morrison Government Unveils Post-JobKeeper Stimulus Package

The federal government will roll out a $1.2 billion stimulus package across the travel and tourism industries, along with an extension to its SME Loan Guarantee Scheme once JobKeeper expires at the end of the month. The support package will subsidise 50 per cent of 800,000 domestic flights to select tourism destinations across Australia. The…
Post-JobKeeper support to be announced in a 'matter of days’

Post-JobKeeper Support to be Announced in ‘A Matter of Days’

Treasurer Josh Frydenberg has revealed that the federal government will announce targeted post-JobKeeper support in “a matter of days”, ahead of the expiry of the wage subsidy program. Speaking from Cairns on a tour of Queensland to speak with tourism businesses, the Treasurer said the government will announce its plans to extend targeted support to…
ATO Revs Up As JobKeeper Set To End In March 2021

ATO Revs Up As JobKeeper Set To End In March 2021

Promoted by Accountancy Insurance Although 2020 saw a temporary lull in the ATO and State Revenue Office’s usual activity level due to the COVID-19 pandemic, 2021 is already set to be as busy as ever when it comes to audits and reviews initiated by government revenue authorities. Accounting professionals are being advised to get their…
The Final Stage of JobKeeper and How to Access It

The Final Stage of JobKeeper & How to Access It

The impact of COVID-19 has been felt very differently from region to region. Fortunes vary wildly between business operators subject to ongoing lockdowns and trading impediments to those benefiting from the “new normal”. For those severely impacted by COVID-19, JobKeeper might be available. The third and final phase of JobKeeper started on 4 January and…
JobKeeper deadlines for the second extension period have now been extended by the ATO ahead of the festive season.

ATO Extends JobKeeper Deadlines ahead of Christmas & New Year

JobKeeper deadlines for the second extension period have now been extended by the ATO ahead of the festive season. Completion of the December business monthly declaration, for employers to be reimbursed for payments between 23 November 2020 to 3 January 2021, has also been extended from the usual 14th of each month to 28 January…
JobMaker: What we Know So Far

JobMaker Hiring Credits: What We Know So Far

We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and until this occurs, the JobMaker rules are not certain and may change. More details should be available soon and we’ll let you know as soon…
Jeremy Hirschhorn of ATO Announced $120m clawback of jobkeeper

ATO Claws Back $120m in JobKeeper with New Complaince Areas in Focus

About $120 million in JobKeeper payments have been recovered by the ATO due to businesses making deliberate or reckless mistakes, as fresh guidance on its JobKeeper extension compliance focus lands. Fronting a Senate Estimates hearing on Tuesday, ATO second commissioner Jeremy Hirschhorn said $200 million in payments had been stopped permanently, with another $100 million…
JobKeeper: The Next Steps

JobKeeper: The Next Steps

The first tranche of JobKeeper ended on 27 September 2020. We look at the issues for those seeking to qualify for the second tranche of JobKeeper and for those no longer eligible. Wrapping Up JobKeeper If your business is no longer eligible for JobKeeper payments, there are a few things you need to do: Advise…
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