JobKeeper Payment Legislation Passed

Last night Parliament passed the legislation to enable the JobKeeper Payment scheme which is intended to deliver income support of $1,500 per fortnight to eligible employees of COVID-19 affected businesses.

Under this legislation, the Government has created a “framework” under which the Treasurer will be required to make rules to provide for the payments, including eligibility for payments, the amount of payments and the time that payments will be made.

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“JobKeeper Payment” Wage Subsidy Announced

The Prime Minister held a press conference yesterday (30 March) to announce the $130b “JobKeeper Payment” package.

Under the JobKeeper Payment, businesses affected by the Coronavirus pandemic will be able to access a wage subsidy of $1,500 per fortnight per eligible employee.

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Sky Update – March 2020

In this Sky Update, we bring you all the latest tax news along with some other items that may pique your interest.

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Boosting Cashflow for Employers

On the 12th of March, the Federal Government announced their first economic response to the Coronavirus consisting of $17.6b of measures.

It quickly became obvious that those measures would be insufficient to address the economic fall-out of Coronavirus pandemic, with a further announcement made on the 22nd of March.  This second announcement included adjustments that built on many of the measures previously announced, in particular the measure labelled “boosting cash flow for employers”.

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Coronavirus Update – Business as Usual

The Coronavirus (COVID-19) is causing significant disruptions to businesses and households throughout Australia and the world.

Sky Accountants are maintaining a close watch on developments and is currently taking a “business as usual” approach with our offices remaining open.

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Government Announces Coronavirus Economic Response Package

The Federal Government has yesterday (12 March 2020) announced an economic response to the Coronavirus targeting four key areas, being:

1. Support for business investment

Currently businesses with annual turnover of up to $50m can claim a deduction for the immediate write-off of assets purchased with a cost of less than $30,000.

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Sky Update – February 2020

In this Sky Update, we bring you all the latest tax news along with some other items that may pique your interest.

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Sky Update – January 2020

In this Sky Update, we bring you all the latest tax news along with some other items that may pique your interest.

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Ballarat Accountants: The Pros and Cons of Discretionary Trusts

If your main goal is to scale your business, a company structure may be your ideal choice because it provides flexibility to expand and bring in new partners to the business. It also offers a capped taxation rate and a reduced level of personal liability. At Sky Accountants Ballarat, our goal is to empower you to become a better, more finance-focused and well-rounded entrepreneur. Contact us at info@skyacc.com.au or 1300 328 855

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Ballarat Mortgage Brokers: Should you fix your home loan?

Sky Accountants are working hard to make things easier for our clients. We are pleased to announce the launch of our new finance department, Sky Mortgage Services.

Every client has their own different requirements and we strive to be proactive when dealing with them. Our goal is to offer a wide range of services that help our clients stay financially organised, tax compliant and geared for business/financial growth.

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