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Apprentice 50% wage subsidy
Depreciating Asset Write-off
For wage paid from 1/1/2020 to 30/9/2020. Max subsidy for 9 mths – $21,000
Immediate deduction up to $150,000 to 30/6/2020 – new and second hand 50% deduction for NEW assets to 30/6/2021 – plus usual depreciation
Employee currently or was previously employed as at 1 March 2020
Employee is full time, part time or long term casual (>12 months)
Includes: self employed, trusts and partnerships with no employees
Companies and trusts not paying wages can nominate one director/beneficiary
Employers required to notify each employee they have been nominated
Register at: https://www.ato.gov.au/general/gen/JobKeeper-payment/
Done in March IAS/BAS return.
Individuals and business
Turnover >$75,000; payroll <$650,000; ABN at 16/3/20
Need to certify in writing meet the criteria; subject to audit 4 years
Provide copy of most recent BAS
Land Tax deferral for 2020 until after Dec 2020
Plus, deferral of payroll tax for first 3 months of 2020/21
At least one residentail property. Total taxable landholdings < $1m.
SRO will make contact.