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With the recent release of the Federal Budget 2020, Kingsley Smith and Phil McCredden share with you some of the 'quirks' that you should know before spending your heard earned cash.
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If you've made it this far, hang in there. Let's talk super for a minute. No froth and bubble though, we're crunching numbers. At the end of this you might even understand the joy of super for yourself...
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RWK Director Kingsley Smith is on a mission to debunk the myth around new businesses!
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Much of the financial media is now correctly focused on what will happen to the economy and businesses when JobKeeper, debt relief from banks, and rent relief from some landlords all end about the same time for many businesses at the end of September.
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If you are eligible, you are able to apply to release up to $10,000 of your superannuation once between 25 March 2020 and 30 June 2020, and
again between 1 July 2020 and 24 September 2020.
The Government is providing a cashflow boost to small and medium businesses and not-for-profit organisations that employ staff have been affected by the economic downturn associated with COVID-19 (novel coronavirus).
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You may be eligible to register for June – Sep JobKeeper payments, even if you've missed April and May. If your business didn’t pass the basic test for JobKeeper, there are a number of alternative decline in turnover tests that could be considered.
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We have been assisting many of our clients with the JobKeeper payment. Here are a few things to note going forward, that may assist you, your employees and your business
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For many businesses as the clouds of COVID 19 begin to lift there is an uneasy feeling around the amount of money the government is giving to them.
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A lot of people have over the years built considerable wealth through smart negatively geared investment, however it is crucial when evaluating a negative gearing opportunity that you have very good reasons to believe that the asset will rise in value by an amount greater than what you are losing each year to make the exercise worth doing.
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RWK Accountancy is a CPA Practice |
