Extension of the JobKeeper Payment
The Government has extended the JobKeeper Payment by a further six months to March 2021. It is targeted to businesses profits that continue to be significantly impacted by the Coronavirus. The payment rate will be reduced and there is a lower payment rate for those who work fewer hours. In addition, from 3 August 2020 […]
JobKeeper 3.0 – And a Recap of JobKeeper Version 2.0
We were not expecting this, but it was bound to happen. We’ve hardly had time to digest JobKeeper 2.0 and it has changed to Version 3.0. The reason this was bound to happen was because events change daily with this pandemic. Victoria was almost normal in June and today is in total lockdown. Not only […]
Superannuation Guarantee (SG) Amnesty
Just before our world went back to front and upside down the ATO issued an Amnesty. If you are affected, you would be wise to take advantage of it. This amnesty has been designed to provide employers with a window of opportunity to correct any past SG non-compliance without penalty. The amnesty period applies for […]
After Financial Freedom? Will You Get It?
Financial freedom really is the Holy Grail. We all want it but what are the chances of you achieving it? Well, there are 3 types of people when it comes financial freedom. Type 1 – those that are carefree – they sleep and don’t think about financial freedom until it is too late. The realisation […]
A Pandemic – And The Stock Market Is Going Up – What?!
I have no idea why, but I am asked about it a lot. I just say nothing because I don’t know. And also, because I am not a financial planner, so if I do say something, I would be hung on a hangman’s noose and let to rot. Few months ago we could not buy […]
The Future of Medical Practices
Medical professionals have been asking what the future of their practice will look like. Thing is, pre Covid19, I was good at working out what I thought the private medical practice space needed to do. But looking at the future now, I am, how can I put this, crap. But we are all crap. We […]
JobKeeper 2.0!
The anticipated change to Jobkeeper has been announced. A bit of a damp squib in the end. After all, most of Australia has been waiting eagerly for the last 4 weeks only to be told there was going to be no change to Version 1.0. But that is only part of the story. Events in […]
COVID-19 and tax depreciation reports – are physical inspections necessary?
Property investors and businesses will use a specialist quantity surveyor to prepare a tax report on capital works and depreciation deductions available to them under the tax law in respect of their income-producing properties – for example, a rental property, office building or factory. A thorough physical inspection of the property by a quantity surveyor […]
Guidance on JobKeeper reporting via STP
The ATO has issued guidance to help employers reporting eligible employees and JobKeeper top-up payments through Single Touch Payroll (‘STP’). For each eligible employee, employers must notify the ATO: • when an eligible employee started being paid JobKeeper payments; • top-up payments to employees earning less than $1500 per fortnight; and • when an employee […]
Choosing Your Financial Planner
When you generate income from your own effort it becomes a problem if you cannot work. This is the case for 90% of medical professionals in practice. If they don’t see patients the income dries up. But lifestyle and expenses don’t. It is also why I always tell my medical professional clients that they need […]