Stay Informed & Focused! Focus Accounting And Financial Group News

What working from home expenses can you claim?

What working from home expenses you can claim is determined by both the type of working from home setup you have and also by the method you are using to make the claim. Currently there is also a ‘shortcut’ method available that makes it simpler to claim working from home expenses during the coronavirus pandemic. read more

Tax cuts under the Personal Income Tax Plan: 2020-2021 and beyond

Stage 2 of the Personal Income Tax plan - we summarise the changes that have been implemented and provide some examples of the impact on personal income tax bills and weekly pay packets that result from those changes. read more

Round Three: $10,000 to $20,000 grants for eligible Victorian businesses

Round Three of the Business Support Fund program provides for one-off grants of $10,000 to $20,000, depending on your annual payroll in 2019-20. See eligibility criteria and link to apply. read more

Eligibility and payment amounts for the JobKeeper wage subsidy now and going forward

The JobKeeper wage subsidy program is a temporary Federal Government stimulus measure to provide support to Australian businesses that have been significantly impacted by coronavirus. As currently legislated, it provides for a flat rate $1,500 payment per eligible employee at eligible businesses, for each qualifying fortnight. This support is scheduled to end on 27 September 2020. However, the Treasurer has announced the program is to be extended to run through to 31 March 2021, although with some changes. read more

The Federal Government’s Stimulus Package to help Australia through COVID-19

The Federal Government has made two economic stimulus package announcements so far. These packages have now been legislated and most of the measures included have already taken effect. Below we go over the key measures to support businesses, then those to support individuals. read more

6 Key Steps for Contingency Planning in the Coronavirus Climate

It is as important for businesses to have a plan to manage any financial or operational flow on effects they may experience, as it is to have a plan to cope with necessary absences or leave required for self-isolation measures if COVID-19 is contracted by an employee, contractor or customer who has been onsite. read more