At times like these we understand that there is an information overload, and you may be confused about where you stand.
The team at Spencer Accountants are here to help and we hope you find our user friendly information on the COVID-19 stimulus packages helpful to assist you with your individual circumstances.
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JobKeeper – Easing Eligibility
More employees will be eligible for JobKeeper, with new workers qualifying for payments
JobTrainer Skills Package
The JobTrainer fund is anticipated to provide for around 340,700 additional training places
Extension of the JobSeeker Program
From 25 September 2020, new eligibility testing and access to payments for new and existing JobSeeker and other income support recipients will also be introduced
JobKeeper Changes Announced
The Government announced it is extending the JobKeeper Payment until 28 March 2021 and is targeting support to those organisations which continue to be significantly impacted by the Coronavirus
Your Post-COVID Business Repair Kit
The challenges of repairing and rebuilding business finances after the COVID-19 lock down and June 30
New Tax Shortcut for Employees Working from Home
The ATO has announced shortcut rules if you find yourself working from home
JobKeeper Payment Now Officially Passed by the Government
Workers with multiple jobs If you are employed by multiple businesses, you are only eligible to receive the JobKeeper payment from your nominated primary employer. Timing The JobKeeper will be available from March 30 and will last until September 27 2020, employers can expect to receive payments from the first week of May. Payments will…
JobKeeper Payment: What it is, How Much and Who is Eligible?
Eligible employees will earn the $1500 JobKeeker payment per fortnight. If you earn less than $1500 you will be ‘topped up’ to $1500 per fortnight. In order to be eligible you must be aged at least 16 and be an Australian citizen or permanent, special category or Protected Special Category visa holder. Non protected PSC…
JobKeeper Program – Help for businesses
An unprecedented assistance to help businesses of all sizes manage their cashflow and retain their employees
What it Means for Pensioners
Retirees affected by falling superannuation balances and deeming rates out of line with historically low interest rates have been offered some reprieve. In addition to the cut in pension deeming rates announced in the first stimulus package, the Government has cut deeming rates by a further 0.25 percentage points. Deeming rates are the amount the…
Low Income Households and Pensioners Payments
These payments will support households to manage the economic impact of the Coronavirus, by provide assistance to lower income Australians, including pensioners, other social security and veteran income support recipients and eligible concession card holders. The first payment (announced on 12 March 2020) will be available to people who are eligible payment recipients (Age Pension,…
Boost to Health Services and Domestic Violence Support
A New package designed to provide medical care and help to the many who are facing hardship as a result of this crisis.
Supporting Apprentices and Trainees
The Federal Government is supporting small business to retain their apprentices and trainees,
Award Flexibility – Proposed New Pandemic Leave
Fair Work Commission’s intention to update 103 awards during the Coronavirus
Temporary Relief for Financially Distressed Businesses
Relief is available for businesses temporarily suffering from financial hardships
Boosting Cash Flow for Employers
The Government is providing tax-free cash flow boosts between $20,000 and $100,000 to eligible businesses
Commercial Tenants Rent Relief Package
The Government has announced new commercial rental waivers and deferrals for commercial tenants
JobKeeper Payment
The new JobKeeper Payment will help employers (including self-employed) to survive the current tough trading conditions
Instant Asset Write-off Threshold Increase Explained
How can the instant asset write-off (IAW) help your business
Initial Stimulus Package
A brief guide to the initial four major components of the the Government’s stimulus package
For a full breakdown of the Federal Governments latest Coronavirus news visit australia.gov.au