Brealey Quill Kenny Blogs

Home Office Expenses

As businesses managed the risks associated with COVID-19 many clients found themselves working from home for the first time. Below we outline the tax deductions available, the records you need to keep and how your tax claim is calculated. Office equipment, stationery and consumables You are entitled to claim the work-related usage of computers, printers,...
Read More

Pre June 2020 Tax Planning

With the end of the 2020 Financial Year approaching fast, the following link provides a list of items to consider pre 30 June 2020 for tax planning purposes. Please call our office if you would like to discuss any of these items further. Pre June 2020 Tax Planning Information Sheet
Read More

JobKeeper Monthly Reporting & Eligibility – Important Reminders

Important reminders for our clients in relation to JobKeeper Monthly Reporting & Eligibility: For those clients who are already enrolled, to receive your JobKeeper payment for May you must make a monthly declaration by 14 June. The same applies for following months, so the June declaration must be completed by 14 July. This is best...
Read More

Instant Asset Write Off Extended

The Government has announced that it will extend the Instant Asset Write-Off concession for another 6 months until 31 December 2020. This means eligible businesses can still claim immediate deductions for part of the 2020-21 financial year. Depending on the aggregated turnover of the business and the date when the asset is first used or...
Read More

JobKeeper update: New Enrolments

The ATO has extended the enrolment period for employers who are first enrolling in the JobKeeper scheme from June 2020 onwards. The deadline for enrolments for the month of June 2020 and later months will now be the end of the month in which the employer’s entitlement to the scheme arises. For example, if an...
Read More

Homebuilder: What it is and how do you acccess it ?

The Government has announced grants of $25,000 to encourage people to build a new home or substantially renovate their existing home. The HomeBuilder scheme targets the residential construction market by providing tax-free grants of $25,000 to eligible owner-occupiers, including first home buyers, to build a new home or substantially renovate their existing home. The grants...
Read More

Final Call for JobKeeper April and May Entitlements

The final date businesses can enrol for JobKeeper if you intend to claim for wages paid in April and May is May 31. If you have registered for JobKeeper, but haven’t completed the Enrolment process via the ATO Business Portal, you have until May 31 to do this if you wish to claim for April...
Read More

JobKeeper – Alternative Decline in Turnover Tests

This week further guidance has been released on the JobKeeper Alternative Decline in Turnover Tests which can be applied in circumstances where a business does not pass the JobKeeper Basic Decline in Turnover Test. The Alternative Decline in Turnover Tests cover seven classes of businesses as follows: New businesses Business with a substantial increase in...
Read More

JobKeeper Next Steps

An important update for our clients who have enrolled for JobKeeper or are planning to enrol. The ATO has released details of the 3 steps to be completed to successfully receive the JobKeeper payment. These are: Step 1: Enrol for the JobKeeper payment (available from 20 April) Step 2: Identify and maintain your eligible employees...
Read More
Read More
Home Office ExpensesAs businesses managed the risks associated with COVID-19 many clients found themselves working from home for the first time. Below we outline the tax deductions available, the records you need to keep and how your...
Read More