There have been a number of key JobKeeper developments over the past couple of weeks: ATO ruling on calculating GST turnover LCR 2020/1 was released on Monday and provides detailed guidance on calculating GST turnover for JobKeeper purposes. The ATO sets out 4 possible alternatives that could be used to undertake the calculations, including using the GST attribution rules. The ATO...

Keeping Company has been named as a finalist in the Australian Accounting Awards for Bookkeeping Firm of the Year and Boutique Firm of the Year. Accountants Daily’s Australian Accounting Awards showcases the industry’s most prestigious accolades recognising excellence across the entire accounting industry. The awards pinpoint professional development and innovation, showcasing both the individuals and firms which are leading the...

Keeping Company‘s support has been integral to the success of our rapid growth and capital raise projects. They’ve provided the financial base to enable quick decisions. Luke Rix, Co-Founder & CFO

Further details have now been released giving some clarification around the new JobKeeper Package. There is plenty of information to digest at the moment so here are the key points. Registration Requirements: Online application (not just expression of interest) available through ATO from 20 April to be completed by 26 April with payments commencing first week May  Determine employee eligibility...

Here is a further update on the government’s response to the COVID-19 crisis, particularly regarding the rent relief now available to commercial tenants. In summary this announcement is applicable: For small to medium-sized businesses with an annual turnover of up to $50 million To businesses registered and eligible for the Job Keeper program, refer to our previous communication for more details...

Small businesses heavily impacted by COVID-19 restrictions on movement and gatherings will be able to access grants of up to $10,000 within a few weeks. The grants are strictly to cover unavoidable costs such as utilities, overheads, legal costs and financial advice. To be eligible for the grants, your business must be based in NSW and: Have both an ABN...

The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws. The stimulus measures are not yet legislated. Parliament will reconvene on Monday 23 March. The Prime Minister has warned...