March Newsletter 2020

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March Newsletter 2020

Our thoughts are with everyone now, during times of uncertainty we need to have more patience, compassion and respect for one another. 

March’s newsletter is aimed to provide you with more detail on the recent COVID 19 Government announcements. Please free feel to call the team at RWA if you have any questions or concerns or just need to chat. We understand that it can feel extremely overwhelming as this is out of our control but if you can develop a plan and have some strategies for your business and personal situation then hopefully, we can get through this together. Please read our monthly newsletter. 

COVID-19 – Australia’s governments and the ATO have made a huge number of announcements in recent weeks about measures to support individuals and businesses during the novel coronavirus pandemic. This issue summarises the main ATO administrative changes, concessions and payments, and ways to find more information.

Working from home: what can I deduct? – While working from home has its benefits, there may be extra expenses too. You may be able to claim a deduction for the additional running costs you incur.

Scams targeting natural disaster victims – If you’ve fallen victim to a tax-related scam, contact the ATO as quickly as possible.

Independent review of ATO audit position: small business pilot extended and expanded – The ATO has extended and expanded its pilot program offering an independent review service to eligible small businesses disputing income-tax-related audits.

Super guarantee amnesty for employers – An amnesty is now on for employers in relation to unpaid employee superannuation entitlements from 1 July 1992 to 1 January 2018.

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

In addition we have attached a 7 page NTAA summary report which summaries the Government announcements if you need further clarification.

Stay safe.

Warmest Regards

The Team at Rittwatchman & Associates

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