COVID-19

We are excited to announce that we are once again offering in-office appointments and will also continue to provide you with the option of email, phone or zoom appointments too.

We have a Covid Safe plan in place to ensure the safety of our clients and staff, whilst we contine to provide you with the best service possible. 

If you already have a phone appointment booked but would prefer to swap to an in-office appointment, please contact us on (02) 4731 1405 or email admin@agradetax.com.au 

Thank you for your continued support during this time and we hope to see you again soon. 

We will continue to keep you updated on any further changes. Additionally the following links and resources may be useful in terms of the available government assistance packages:

 

Businesses and Employers 

JobKeeper Payments

The JobKeeper payment is intended to provide wage subsidies to businesses that are significantly affected by COVID-19. Enrolment is now open for the JobKeeper Payment Scheme.

JobKeeper 1.0 ended on the September 27, however it has now been extended until 28 March 2021. The first extension period will run from 28 September 2020 to 3 January 2021.

The rates of the JobKeeper payment in this extension period are:

·         Tier 1: $1,200 per fortnight (before tax)

·         Tier 2: $750 per fortnight (before tax)

The JobKeeper payment is open to eligible employers, sole traders and other entities to enable them to pay their eligible employee’s salary or wages. To be eligible for the JobKeeper Payment, you and your employees must meet a range of criteria. For further details please see below. 

Sole Traders: For further information click here

Companies: For further information click here

You can enrol for the JobKeeper payment through the ATO, or alternatively A Grade Tax can process this application on your behalf. Please contact us on (02) 4731 1405 or email admin@agradetax.com.au to discuss your eligibility and the associated costs of the application.

 

Boosting Cash Flow for Employers

The ATO will provide tax-free cash flow boosts of between $20,000 and $100,000 to eligible businesses, delivered through credits in the activity statement system, when eligible businesses lodge their activity statements up to the month or quarter of September 2020. 

For further information click here

 

Individuals and Employees

JobKeeper Payments

The JobKeeper payment is intended to provide wage subsidies to businesses that are significantly affected by COVID-19. Your employer will notify you if they intend to claim the JobKeeper payments on your behalf.

Before 28 September 2020, the amount of JobKeeper Payment your employer can receive for wages they have paid to you is $1,500 per fortnight.

From 28 September 2020, the amount of JobKeeper Payment your employer can receive for wages they have paid to you is generally based on how many hours you worked (including paid leave or paid public holidays) in either of the following periods: 

  • The 4 weeks (28 days) of pay periods before 1 March 2020, or
  • The 4 weeks (28 days) of pay periods before 1 July 2020.

If you worked 80 hours or more in the relevant period your employer will receive the higher tier 1 rate of $1,200 per fortnight. If you worked fewer than 80 hours they will receive a lower tier 2 rate of $750 per fortnight. 

For further information click here.


Temporary Early Release of Superannuation

The government is allowing eligible individuals to submit one application through myGov to access up to $10,000 of their superannuation, between 1 July 2020 and 31 December 2020. Applications for the 2019-20 financial year closed on 30 June 2020 and backdated applications cannot be accepted. 

For further information and eligibility criteria, please click here  


Reducing Superannuation Minimum Drawdown Rates

The minimum drawdown requirements for account-based pensions and similar products have been reduced by 50% for 2019/20 and 2020/21.

For further information click here.


Employees working from home

If your employer now requires you to work from home, you may incur expenses that you can claim at tax time. For further information on what you can and can’t claim and the records you must keep in order to claim home office expenses, click here.

 

A GRADE TAX 

TAXATION ACCOUNTANTS 

 

Phone | (02) 4731 1405 or (02) 8328 0568 

Email | admin@agradetax.com.au 

Post | P.O. Box 402, Penrith. NSW 2751  

 

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