Federal Budget 2022 – Key Summary

Apr 8, 2022 | COVID-19, Employers, Federal Budget 2022, Self Managed Super Funds, Single Touch Payroll, Small Business, Superannuation, Taxation

The Morrison Government’s 2022 Federal Budget was handed down on 29 March 2022 by Treasurer, Josh Freydenberg. Unemployment is down at its lowest in almost 50 years however inflation is on the rise due to factors such as the Pandemic and the war on the Ukraine,...

PCR & Rapid Antigen Tests Tax Deductible!

Feb 11, 2022 | COVID-19

PCR and RAT tests to be tax deductible, FBT free The Treasurer has announced that PCR and rapid antigen tests (RAT) will be tax deductible for individuals and exempt from fringe benefits tax (FBT) for employers if purchased for work purposes. There has been confusion...

Q&A: CGT main residence exemption for spouses in two separate residences during COVID-19

Dec 3, 2021 | Capital Gains Tax, COVID-19, Taxation

QUESTION Since March 2020 and during the COVID-19 pandemic, a client spent 16 months living in a home he owns in rural Victoria in order to attend to business interests he has there. During this time, his wife continued to live in their Melbourne home (where they...

Job Saver Changes & Micro Business Grants

Oct 6, 2021 | COVID-19

The NSW JobSaver, which provides payments of up to 40% of weekly payroll, is jointly funded by the state and Commonwealth governments. From 13 September, businesses receiving JobSaver have been required to reconfirm their eligibility for the payment each fortnight...

How To Work From Home In The Current Lockdown

Sep 3, 2021 | COVID-19

Here’s some great tips from the team at www.employmenthero.com.au [Dated: 13 February 2021] on how to work from home productively and with balance! There are a number of great links out to further information if you would like to learn more about a particular...

How TSP Optimised COVID-19 Assistance

Aug 27, 2021 | COVID-19

During the current lockdown, a TSP Director contacted a valued client enquiring how they were fairing in the most recent Government restrictions and the potential impacts to their business operations. Trading as a company, the client had to close their business for...