News

Archive for the "COVID-19" Category

  • REMINDER – JobKeeper notification requirements

    Posted on May 14th, 2020 by WLF

    If you have enrolled in the JobKeeper scheme for your employees, you may not be aware of an additional hoop you have to jump through in order to satisfy your reporting obligations. Employers are required to give written notice to employees within 7 days of submitting their monthly JobKeeper report to the ATO. This is the report that specifies your eligible JobKeeper employees and monthly turnover amounts. You must lodge this report with the ATO in order to obtain the JobKeeper reimbursement. After submitting your monthly JobKeeper report in relation to April (the first 2…

    Posted in COVID-19, News
  • JobKeeper Payment – Recent Changes & Key Dates – 13 May 2020

    Posted on May 4th, 2020 by WLF

    JobKeeper Update: 3 June 2020
    The Australian Taxation Office has extended the deadline for businesses enrolling for JobKeeper payments for the first time, effective from June.  Businesses can now enrol and identify their eligible employees by the end of the month they are claiming.  For example, a business enrolling for JobKeeper for the first time in June now has until the end of June, rather than having to enrol within the relevant JobKeeper fortnight.
    However the business must still pay their employees the stipulated $1500 for each fortnight being claimed. There is n…

    Posted in COVID-19, News
  • JobKeeper Payment wage subsidy – Update 16 April Application to charities and not-for-profit organisations

    Posted on April 16th, 2020 by WLF

    Over recent weeks we have been keeping you up to date with our commentary around the various stimulus and support measures for Tasmanian businesses impacted by the COVID-19 pandemic. We have previously posted articles about the new JobKeeper Payment wage subsidy. This post is a further update with important information that has just been released about this support package and its application for the charity and not-for-profit sector. 
    If you manage or work for a business in the commercial sector please refer to this article, also posted today, that applies to the broader…

    Posted in COVID-19, News
  • JobKeeper Payment wage subsidy – Update 16 April

    Posted on April 16th, 2020 by WLF

    Over recent weeks we have been keeping you up to date with our commentary around the various stimulus and support measures for Tasmanian businesses impacted by the COVID-19 pandemic. We have previously posted articles about the new JobKeeper Payment wage subsidy. Today’s post is a further update with important information that has just been released about this support package. 
    If you manage or work for a charity or not-for-profit entity, the JobKeeper Payment wage subsidy is still applicable but the criteria is slightly different. Please refer to this separate article,…

    Posted in COVID-19, News
  • JobKeeper Payment wage subsidy – Update 8 April

    Posted on April 8th, 2020 by WLF

    Following legislation passed this evening, the Federal Government will subsidise wages for employees over the next 6 months through the JobKeeper Payment. This has been introduced with the aim of enabling businesses to continue to operate during the crisis and start up again quickly once it is over. Importantly, to be eligible for the JobKeeper Payments you have to pay your employees a minimum of $1,500 per fortnight (before tax) before the end of the fortnight. The first fortnightly period begins on 30 March and ends 12 April.If you enter the scheme now and pay your …

    Posted in COVID-19, News
  • Rent relief for commercial tenants

    Posted on April 7th, 2020 by WLF

    In addition to a previously announced ban on evictions of commercial tenancies, the Government has announced a mandatory code that will require landlords to defer and waive rent payments. 

    Will only apply to tenancies where the tenant or the landlord is eligible for JobKeeper payments and have a turnover of $50m or less  
    Landlords of commercial tenancies will be required to reduce rent payments in line with the tenant’s reduced business income 
    The reduction will result in waivers and deferrals of rent 
    The waiver has to equal at least 50% of t…

    Posted in COVID-19, News
  • March 30 – 3rd Government Economic Stimulus Package – Wage Subsidy

    Posted on March 30th, 2020 by WLF

    Wages subsidy 
    The government will subsidise wages for employees over the next 6 months with the aim to enable businesses to continue to operate during the crisis and start up again quickly once it is over.  Currently details are slim and there are lots of unanswered questions. More information will be available once the legislation is drafted this week and after Parliament sits. We suggest you contact any employees that you may have stood down to let them know you are considering your eligibility for this payment.   
    Job keeper payment: 

    All …

    Posted in COVID-19, News
  • March 27 – Tasmanian Support & Stimulus Package

    Posted on March 27th, 2020 by WLF

    The State Government has released further details about its second tranche of stimulus measures for Tasmania.
    The $1 billion support package includes payroll tax relief, incentives to invest and rebates on electricity.  
    Small Business Grants  

    $2,500 emergency support grants available to small business with up to 20 employees
    Businesses must have been operating from January 2019 or earlier and be operating in one of the following industries:  

    Seafood
    Tourism and accommodation 
    Hospitality 
    Retail  
    Arts and entertainment 
    Fitness  

    A…

    Posted in COVID-19, News
  • March 22 – 2nd COVID-19 economic stimulus package

    Posted on March 22nd, 2020 by WLF

    Today the Prime Minister and Treasurer scaled up their economic stimulus package to $189 billion (approximately 10% of GDP).
    The measures will be delivered over the next six months and focus on those that will be the first to feel the economic hardship of this crisis. We expect that the Parliament will push through this stimulus package Monday or Tuesday and implement the measures as soon as possible.
    You can find our overview of the 1st stimulus package here.
    Some key points of the second package that we believe may be of particular interest to our clients are listed belo…

    Posted in COVID-19, News
  • March 17 Update: COVID-19 government economic stimulus package

    Posted on March 17th, 2020 by WLF

    Last week the Federal Government announced a stimulus package in response to the economic effects of Covid-19 (Coronavirus). 
    The aim of the package is to help businesses stay afloat and keep people employed. This means the measures focus on businesses that employ people. The government have also indicated that they are intending to announce further measures soon.
    We don’t know many details yet as the legislation hasn’t been introduced to parliament which we expect will occur next week. Watch this space for updates.
    Some key points of the package that we believe m…

    Posted in COVID-19, News
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