JobKeeper No 2 The government announced this week that the JobKeeper program will continue for a further 6 months taking the program through until March 2021. The decision to continue the program was made after a 3 month review of the program. Initially designed to finish on 28 September 2020 the review concluded there was a very strong case for continuing the program. As such the program has been extended to the end of March 2021, however with some changes.…
Due to COVID-19 The number of individuals working from home has increased significantly this financial year. DFK BKM Manager, Angie Karanikolopoulos provides the following information to assist with completion of your 30 June 2020 income tax return: Home Office Expenses 1. Actual cost method You may claim actual costs incurred as a result of working from home assuming you have a dedicated work area, these may include: Electricity and gas for cooling, heating and lighting The decline in value of home…
As we draw closer to 30 June 2020 it is important to consider tax planning strategies as well as other administrative duties for your money in superannuation. Contributions Concessional contributions Concessional contributions cap for the 2020 FY is $25,000 and the deposits must be received into the Super Fund prior to 30 June 2020. When making a member concessional (deductible) contribution, you must give your notice of intent to claim the deduction to your Super Fund before the earlier of…
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