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Federal Budget 2020-21 Snapshot

Five key focus points for SME business Last night, the Federal Government announced more than $30 billion in tax cuts for business as part of its 2020 Federal Budget.  Treasurer Josh Frydenberg has unveiled a temporary supercharged instant asset write-off that will see businesses with turnover up to $5 billion be able to deduct the
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JobKeeper Extension 2.0

(updated 21st Sep 2020) JobKeeper 1.0 ends on 27 September 2020. Those needing further support will need to reassess their eligibility and prove an actual decline in turnover to be eligible to enter JobKeeper Extension 2.0. To receive JobKeeper from 28 September 2020, eligible employers need to assess their decline in turnover with reference to
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Technical Update – JobKeeper 2.0 relaxed conditions

(updated 14th Aug 2020) On 7 August 2020 the Treasurer revealed that the recently announced tougher eligibility rules for the second phase of the JobKeeper payment scheme will be eased. Employers will now only have to demonstrate a reduction in turnover in the quarters ending in September and December 2020, compared to the same periods
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