NSW announces package to protect residential tenants from evictions – 6 month moratorium, 60 day stop

On Monday 13 April 2020, the NSW Government announced a package to assist residential tenants (with no assistance to the landlords – unless the announcement about land tax relief, for landlords of SME commercial tenants, affected by COVID-19, also applied to landlords of residential leases, which it might – see related TT article). There have…

ASIC exemptions for COVID-19 early release of superannuation – licensing relief for ‘tax agents’ and service relief for licensee’s (Instrument under Corps Act)

On Tuesday 14.4.20, ASIC made and registered the ASIC Corporations (COVID-19 – Advice-related Relief) Instrument 2020/355, providing tax agents temporary AFS licensing exemption to provide financial product advice, to their existing clients, about the early release of superannuation under the Coronavirus condition of release (see related TT article).

See below for further detail.

[Tax Month – April 2020]

‘JobKeeper Rules 2020’ & accompanying ‘Explanatory Statement’ made 9 April 2020 (available for download)

On 9 April 2020, one day after the Treasurer released an ‘exposure draft’ of JobKeeper Rules (Coronavirus Economic Response Package (Payments and Benefits) Rules 2020), he finalised these Rules final and registered them on the Federal Register of Legislation. These Rules were accompanied by an Explanatory Statement.  Incidentally, it was on Wed 8 April 2020,…

Coronavirus Payment and Omnibus Bills passed – setting up the headline ‘JobKeeper Payment’ regime and a raft of legislation – some related

Coronavirus Payment and Omnibus Bills (containing the headline ‘JobKeeper’ benefit regime) were introduced and passed in a single day, being the day on which Parliament was recalled, purely for this purpose (Wed 8.4.20).

See below for a summary of the effect of these 2 main acts.

[Tax Month – April 2020]

JobKeeper Payments Rules: Treasury released ‘exposure draft’ – these rules are where the meat of system will lie (it will be ‘where the action is’)

The JobKeeper Payments legislation sets up the statutory framework for the implementation of the payments system (see related TT article). The actual rules and taxpayer requirements are to be contained in statutory rules made by the Treasurer, which will be administered by the Commissioner. To this end, Treasury has released an ‘Exposure Draft’ of those rules.…