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October 2020 Tax Cuts Are Here! What do I need to do in my payroll?
We are still waiting for some of the finer details to be released from the ATO, however the broad rules have been released. As always please feel free to contact us if you would like any clarity around your current situation.
The Government is extending the JobKeeper Payment by a further six months to March 2021. Support will be targeted to businesses and not-for-profits that continue to be significantly impacted by the Coronavirus. The payment rate will be reduced and a lower payment rate will be introduced for those who work fewer hours. Other eligibility rules remain unchanged.