General News

JobKeeper Extension 2 is nearly here…

Written by Felicity Magnussen

A friendly reminder that the second part of JobKeeper 2.0 starts on 4 January, so now is the time to start preparing!

If you are already enrolled in JobKeeper, you don’t need to re-enrol, but you DO need to notify eligible employees of the upcoming changes and ensure that they are still in the correct tier (see our handy JobKeeper2Checklist), and then ensure that from 4 January they are paid at least:

  • $1,000 per fortnight for tier 1 employees
  • $650 per fortnight for tier 2 employees.

If your business is not yet registered for JobKeeper but will now be eligible, don’t hold back! You can still be eligible for extension 2 even if you were not eligible for JobKeeper extension 1, and it’s always worth asking.

You will need to show that your actual GST turnover has declined in the December 2020 quarter relative to a comparable period (generally the corresponding quarter in 2019). Your BAS statements must be up to date, as un-lodged statements may hold up your application. Remember you don’t use your projected GST turnover, but your current GST turnover, using the accounting basis you used for GST reporting purposes (ie cash or non-cash). Ask us for help if you’re not sure!

Once the second extension period starts on 4 January 2021, you’ll then need to complete the monthly business declarations in January, February and March.

As usual, please don’t hesitate to contact your friendly Halletts accountant for help!

string tied around a finger

ChooseCBR! COVID-19 Financial Assistance for Canberra businesses

Written by Felicity Magnussen

The ACT government has designed a program to encourage consumers to spend money locally, setting up an electronic voucher system that eligible local businesses need to register for.

Consumers need to be over 18 years and also need to register. They will receive a daily pack of discount vouchers worth $40 to use at participating businesses (dependent upon minimum spend), and the ACT government will then reimburse the business – more information here.

Which businesses are eligible?

To be eligible a business must:

  • Have a physical shopfront in the ACT; and
  • Have received JobKeeper at some point during 2020; and
  • Have less than $10m in turnover per annum; and
  • Be in the retail, tourism, accommodation, arts and recreation, personal services and hospitality services.

How long does it run for?

The program will run from 9 until 21 December 2020 or until the allocated funds are exhausted.

Even if your business doesn’t fit the bill, pass the word on and continue to buy local!

George Michael and Andrew Ridgeley

Happy International Accounting Day!

Written by Felicity Magnussen

2020 has been an ‘unprecedented’ year, but our close connection to you, our lovely clients, and feeling of satisfaction gained from helping you through this year has kept our spirits up and sustained us.

Accounting is so much more than just getting your tax in on time (although that’s important too!) and we love, love, LOVE learning about you and your businesses and helping you work towards your dreams.

A big thank you to all of our staff members for their dedication and hard work and here’s to better times ahead!

A-Count-ting spelt out