July Newsletter 2020

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July Newsletter 2020

Happy July, we are currently in the thick of COVID 19 and alothough SA is going strong with no new cases our thoughts and love go out to all the people who live in Victoria, NSW and QLD. We hope that the number of cases start to slow and life can slowly get back to normal for you all. This monthly  newsletter provides a snapshot of all the Government assistance available for both businesses and individuals. 

Tax time 2020 is here – With the great disruptors of the Australian bushfires and the global coronavirus (COVID-19) pandemic, and the associated government economic stimulus measures, there are some key tax-related matters for everyone to be aware of this year.

Expanded instant asset write-off for businesses – If you’ve purchased assets for your business, remember that you may be eligible to claim an immediate deduction under the instant asset write-off, which was recently expanded.

Additional cash flow boost coming for businesses – If your business is one of many that received the initial cash flow boosts as a part of the government’s COVID-19 economic stimulus measures, prepare for more help coming your way.

ATO scam calls may soon be a thing of the past – Australian telcos, the ATO and the ACMA recently collaborated on a three-month trial of technology to block scam calls appearing to originate from legitimate ATO phone numbers.

Please contact us if you wish to discuss how the points raised in Client Alert specifically affect you.

Yours sincerely

The Team at Rittwatchman & Associates

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