Latest Accounting News
Hot Issues
Part 1 – Budget reminders. Under the Hood.
Part 2 – Budget reminders. Under the Hood.
Part 3 – Budget reminders. Under the Hood.
Comprehensive list of COVID-19 initiatives and packages.
Businesses not meeting obligations warned as ATO restarts compliance programs
Employers cautioned over ‘hard and fast’ decline in turnover eligibility
‘Follow the spirt of the law’, warns ATO
$120m in JobKeeper clawed back by ATO, new compliance areas highlighted
Budget 2020 - A very comprehensive break down.
Budget 2020 - Fact Sheets
Budget 2020 - At a Glance, Overview, Outlook
Temporary home office expenses shortcut extended again
JobKeeper extension – changes implemented
JobKeeper Participants – are “workers”
Commissioner registers updated JobKeeper alternative tests
Varying Pay As You Go (PAYG) Instalments
Reminder of Medicare Levy Surcharge (MLS)
September update of latest COVID-19 initiatives.
ATO JobKeeper 2.0 guidance surfaces
Expats Return to Australia – Travel Expenses
Profession to be relied on for post-JobKeeper turnover certificates
Update of Superannuation contribution rules from July 1, 2020
Expats & COVID-19 Impacts on tax residency
Economic recovery could be slower than anticipated: RBA
High Court rules in favour of employers on personal leave accruals
Articles archive
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Quarter 1 of 2009
Articles
Reduction to Minimum Pension Drawdowns for 2008/09
Government Stimulus Package
Working Australian Tax Bonus ($300 - $900 per individual)
Working Bonus – More Detail
Single Income Family Bonus ($900 per family)
Training and Learning Bonus ($950 per individual)
Farmer’s Hardship Bonus ($950 per household)
Specific Roles of an Executor
What does an Executor do?
Appointor – what does this mean?

Role of Trustees of Family Trusts

PAYG Instalments 20% Reduction
Granny Flats - are you entitled to Rent Assistance?
Interest Rates & Strategies
Reduction to Minimum Pension Drawdowns for 2008/09
As another response to the global economic downturn the Government has announced that superannuation pensioners may reduce their minimum drawdowns.

Members with an account based pension will only be required to draw down half of their previously calculated minimum income requirement for 2008/09.

 

At this stage, the 50% relief measure will only apply up to 30 June 2009.

 

This measure has been offered, because the Government realised that many superannuation funds are selling blue-chip shares at distressed prices to satisfy the obligation to pay the minimum pension, even if the pensioner does not need it.

 

Superannuation trustees are allowing members to implement this change immediately, because this change was made by regulation not by legislation.

 

If a pensioner has no further need for income this year, the pension can stop now and start again in July 2009 on a revised basis.

 

 

 

 

 

 

 

 

 

 



28th-March-2009