Welcome back the podcast! In this episode we cover off the latest JobKeeper developments, the SGC amnesty and that lodgement extensions are not really extensions at all. - See more at: https://www.wiseaccounting.com.au/media/wap052-jobkeeper-updates-sgc-amnesty-and-extensions-are-not-extensions

The third tranche of the government stimulus package has just been announced, and this is centred around a $130 billion stimulus payment, with indications the Government are not done yet. The Government has now contributed $320 billion to the Coronavirus fight, which accounts for 16.4% of GDP.  This latest stimulus package is built around a $1,500 per fortnight gross payment to employees.

On March 23rd parliament passed legislation that would see the updated COVID-19 Stimulus Package introduced by the Government become law. This carries with it changes to the cashflow assistance as well as the widening of other assistance payments. The changes are vast, and the impacts will hopefully be positive for you, and the economy at large.

The Government's $17.6 billion stimulus package is set to have far reaching impacts on the economy, without, apparently, impacting Australia's national credit rating. How? By breaking it down in to 4 manageable components. Specifically, the stimulus package was basically broken in to the following aspects: 1. Delivering support for business investment 2. Cashflow assistance 3. Stimulus payments to households 4. Assistance for the severely affected areas

I wanted to start with something I am passionate about, and glad to see the ATO cracking down on, and that is essentially widening the net in regards to illegal phoenix activities. For those of you that do not know, Phoenixing is essentially abandoning a company and then recommencing a similar company with similar stakeholders, but essentially your tax liabilities from the former company are neglected, and abandoned. Hence the term Phoenix, it is essentially a company that rises form the ashes of another.

Welcome to Episode 047 of the Wise Accounting Podcast. This week we discuss the latest developments including: - ATO lodgement and payment concessions to those affected by the bushfires in Australia. - The changes to Single Touch Payroll with the integration to the Child Support Agency - ATO increased data matching and how insurance companies may provide the key to the ATO taxing previously untaxed and unknown asset disposals.

Being an accountant and business adviser, I am an extremely lucky person. Not only do I get to help clients achieve their business goals, but I get learn from their successes, and mistakes. With a new year, and a new decade, I wanted to share the 10 biggest lessons I have learned from the past 10 years, drawing on my professional experiences over that time. These are not in any order, and I’d argue all are as important as each other.

Defeating email is a challenge, but this time of year it is the easiest it will be. Use the momentum of this time of year, a quieter inbox, and my tips below to ensure that your 2020 email pain is kept to a minimum. I have previously dealt with a swelling inbox, one that caused an immense amount of stress, but I have employed the following tips to help me ensure I not only manage my inbox from a physical point of view, but also mentally.

With the election in the bag, it is time to review the changes that will be coming, starting with the $30,000 immediate asset write-off. This is the good news, the bad news is the ATO and the government are only stronger in data matching your income

This week we discuss how the limited days left in parliament could impact your instant asset write-off deduction; how the tax residency system is set for an overhaul (it's first since 1930), and of course superannuation - what would a podcast be without superannuation!?