On 22 March 2020, the Government announced it will provide a temporary Coronavirus Supplement of $550 a fortnight to new and existing income support recipients from 27 April 2020 for six months. People will receive their usual payment plus $550 each fortnight for the six month period.
The Coronavirus Supplement will be provided to people receiving:
Youth Allowance for jobseekers
Parenting Payment Partnered
Parenting Payment Single
Farm Household Allowance
Expanding Eligibility and Qualification for Payments
From 27 April 2020, the Government has also put expanded eligibility and qualification criteria in place for six months.
Eligibility for JobSeeker Payment and Youth Allowance for jobseekers will also be expanded to assist:
sole traders and self-employed people. They will be able to meet mutual obligation requirements by continuing to operate their businesses.
people caring for someone infected or in isolation as a result of contact with Coronvirus.
The Government will temporarily waive, for certain payments:
the assets test
the Ordinary Waiting Period (already waived until 12 June 2020)
the Liquid Assets Waiting Period
the Seasonal Workers Preclusion Period
the Newly Arrived Residents Waiting Period.
Also from 27 April 2020, access to payments will become easier with a temporary removal of the requirement for an Employment Separation Certificate, proof of rental arrangements and verification of relationship status.
You can register via your MyGov account. It is suggested that if you can’t access it because it’s broken, take a screen shoot to prove that you have tried to register as that cements the start date for payments.
Important Due Dates
This list of key dates is not comprehensive - it is a guide only. Events or timelines may change. Unless otherwise stated, the due dates provided are for 30 June balances only.
When a due date falls on a Saturday, Sunday or public holiday you can lodge or pay on the next business day.
The payment due dates for a tax return are determined by client type, the lodgment due date and when the return is lodge.
Notice of Assessment
If you have a myGov account, all communication from the ATO will be sent to your myGov Inbox including your notice of assessment. It is important to check your myGov regularly.
New Record-Keeping Guide
The Australian Taxation Office are emailing their new record-keeping guide to some clients who have claimed work-related expenses in the past. This guide will help you better understand what records you need to support your claims this tax time. - Australian Taxation Office
Xero has a number of training videos and links to help everyone get around their software swiftly and easily.
From their blog, which includes ongoing feature updates, to their XeroTV, which has videos on every nook and cranny inside of their beautiful accounting software.
To view any of these videos for free, visit Xero Training or give our friendly staff a call for some one on one training.
MYOB Training courses are designed to assist small business owners and bookkeepers with the use of MYOB AccountRight range, BusinessBasics and Retail software, from the basics of business computing through to mastering the most powerful features.
To view the range of training courses available, simply visit the MYOB Events Page. Don't forget that you can always call our office if these training courses don't suit your particular needs.
Need help with the SBSCH changes?
In February 2018, the Small Business Superannuation Clearing House (SBSCH) will join the Business Portal. We can help you with questions about accessing the portal and setting up either Manage ABN Connections or an AUSkey at a time that suits you.