Throughout the COVID-19 crisis, a large volume of changes and decisions have been made to support both employers and employees including the introduction of the JobKeeper legislation flexibilities and changes to various modern awards.
The ATO has now clarified two aspects of its no action position for SMSF landlords providing rent relief to related party tenants because of COVID-19.
The ATO has finally published guidance on what relief a related party lender can provide an SMSF in relation to the repayment of related party loans.
The JobKeeper scheme and consequential changes to the Fair Work Act 2009 (Cth) have come into effect.
On 8 April 2020, the Full Bench of the FWC handed down its decision to introduce these changes (with minor drafting amendments) into 99 modern awards.
The Coronavirus Economic Response Package (Payments and Benefits) Bill 2020 passed both houses of Parliament on 8 April 2020, containing some further detail on the JobKeeper payment scheme.
The superannuation guarantee amnesty (SG amnesty) window is currently open. The main risk with the SG amnesty is making a disclosure, but not being able to pay the superannuation guarantee charge (SGC) – in which case, the benefits of the amnesty will not apply.
The market value of many common SMSF assets has plummeted in recent times, which can lead to SMSFs with in house assets breaching the 5% limit. What should these SMSFs do and how will the ATO react?
COVID-19 has restricted international travel and many Australian citizens have returned to Australia while the world responds to the pandemic.
The Federal Government has announced important changes to Australia’s FIRB framework as it combats the economic fallout triggered by the coronavirus pandemic.
As a part of the laws setting out the Federal Government’s response to coronavirus, changes now apply to extend the instant asset write-off concession and introduce accelerated depreciation under the backing business incentive.
Changes to Modern Awards in response to the challenges being experienced by employers and employees as a result of the COVID-19 pandemic.