JobKeeper wage subsidies are being split into a two-tiered system and extended for another six months. Labor has waved through the extension after failing to introduce a wage floor for workers who are no longer eligible for the scheme.

For years Australia has suffered from poor housing affordability. According to the 2020 Demographia Housing Affordability Survey the multiple of median house prices to median annual incomes is 5.9 times in Australia compared to 3.9 times in Canada, 4.5 times in the UK & 3.6 times in the US.

The fastest and easiest way to link your myGov account to the ATO is to go to your myGov account and select ATO from the list of Services. You’ll need your tax file number and details from two tax documents – see Link your myGov account to the ATO.

If an employee salary-sacrifices into super, you make super contributions to the fund on your employee’s behalf. There may be benefits to both of you, but the arrangement must comply with the rules for salary sacrificing.

A single, professional middle-aged woman, Marie is amazed by the speed at which the days pass and how quickly life can change. One thing she has come to understand is that nothing ever stays the same and you never know what the future will bring.

With the initial phase of the JobKeeper program due to conclude on 27 September 2020, yesterday the Government announced a second phase which will extend the program for an additional six months through to 28 March 2021. The MFAA welcomes this announcement and the extension of this important economic support measure.

Also known as your credit rating, your credit score is based on a report lenders request when you apply for a loan or credit card in your name only, or together with someone else. From store cards to home loans, your credit score is used by lenders to decide whether you can borrow money, how much and on what terms.

In a new report, the Tax and Transfer Policy Institute at the Australian National University urges the government to consider a dual tax system where savings are taxed at a low rate and separate from taxes on labour income.

The review was commissioned by NSW Treasurer Dominic Perrottet in 2019 but is expected to be influential as all governments consider tax reform and other ways to improve the federation amid the coronavirus pandemic

We are experiencing a high numbers of calls, resulting in long wait times. To save time, check the answers to our most commonly asked questions about JobKeeper, early release of super and cash flow boost. We are working hard to help people understand and access the government’s COVID-19 economic assistance measures.

With the financial impact of COVID-19 being felt by many individuals and families, perhaps you’re looking to lodge your next tax return quickly to benefit from a refund. Before the end of the financial year arrives on 30 June, it’s worth looking at ways to maximise any tax offsets, deductions and contributions – for your super and for working from home.

If you’re a foreign resident for tax purposes, new rules proposed in the 2017–18 Budget take effect from 9 May 2017. You will no longer be able to claim the CGT main residence exemption when you sell property in Australia unless certain circumstances apply.