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MK Accounting & Tax Solutions

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22.01.2022 Government to announce wage subsidy plan over the next few days for those who have been stood down. Details are sketchy at this stage but could be similar to the UK approach which promises 80% of a workers salary up to a certain cap. I’ll keep you posted.... https://www.google.com.au//c4537273503607c81d5f70b4c62426c6

20.01.2022 The Australian government has launched a new messaging service on WhatsApp and an app to keep people updated about coronavirus. How to download the Australian government's coronavirus app: 1. Open the 'App Store' or 'Google Play' on your mobile phone or tablet 2. Search for 'Coronavirus Australia'... 3. Click download. The app will automatically open when it's finished 4. Choose whether you would like to receive notifications. These settings can be changed later 5. You can now browse the app for information How to access the Whatsapp messaging service: 1. Open the 'App Store' or Google Play' on your mobile, tablet or desktop 2. Search for 'WhatsApp'. Follow the prompts to set up an account 3. Open an internet browser and go to 'aus.gov.au/whatsapp' 4. Hit the green 'Send button' 5. A pop-up will ask: 'Open in WhatsApp?' Select 'Open' 6. WhatsApp will open. Read the message and hit 'Send' See more

17.01.2022 SOLE TRADERS! The Governments $130 billion Support Package announced this week will allow sole traders to claim $1,500 per fortnight per eligible employee from 30th March 2020 for a maximum of 6 months. Eligibility: ... Turnover less than $1 billion and turnover expected to be reduced by more than 30% relative to a comparable period a year ago Or Turnover of $1 billion or more and turnover reduced by more than 50% relative to a comparable period a year ago How to Claim: Register your interest at https://www.ato.gov.au/general/gen/JobKeeper-payment/. You do not need to call the ATO, once you register your interest they will send you updates with the next steps. Note: Legislation has not yet released Smart Company has a great article which explains Jobkeeper Payments for Sole Traders https://www.smartcompany.com.au//jobkeeper-wage-subsidy-s/ #mkaccountingandtaxsolutions #mksolutions #soletraders #jobkeeper See more

03.01.2022 Centrelink has a new function to make it easier to claim a payment. Users with myGov accounts will now be able to register their intent to claim online without a pre-existing CRN or having Centrelink accounts already linked to their myGov account. Log in to your my.gov.au account and click Register intention to claim. Payments will be backdated.

02.01.2022 BUSINESSES: The instant asset write-off threshold had been increased from $30,000 to $150,000 and expanded access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million). This applies from 12 March 2020 until 30 June 2020, for new or secondhand assets first used or installed ready for use in this timeframe.