In a welcome development, the ATO has listened to the complaints of taxpayers and their practitioners and will be temporarily scrapping the changes to the communication of PAYG instalments. The current December quarter was the first quarter impacted by these changes, which removed many taxpayers from receiving a paper copy in the post of their quarterly instalment and forced them to check and/or sign up to a myGov account to access this information.
Following our previous article Small Business Digital Adaption Program. A reminder to all small business that the Federal Government’s digital adaption grant will soon close with applications needing to be made by 28 February.
A warning to taxpayers regarding changes to the ATO’s communication preferences which could impact them. The ATO is shifting more and more to a digital system and is wanting to eliminate paper lodgements. In November without warning, they have changed the preferences of many taxpayers from paper to digital.
A recent survey from ScotPac has revealed potential reasons behind the Reserve Bank of Australia’s findings that there was little demand for new loans by small or medium sized businesses. This was a surprising result given the struggles many businesses have with cash flow as well as the attractive proposition such loans are currently given the historically low interest rates.
2020 has been a tough year for many businesses but perhaps none more so than travel agencies and tour providers
The ATO has announced that registrations are now open for the JobMaker scheme. This scheme pays eligible employees $200 per week for eligible employees aged between 16 to 29 years and $100 per week for eligible employees aged between 30 and 35 years.