The ATO has advised that the General Interest Charge (GIC) and Shortfall Interest Charge (SIC) rates for the first quarter of the 2020-21 income tax year are as follows – for the period 1 Jul 2020 to 30 September 2020. See below for further detail. [Tax Month – June 2020]
The House of Reps Standing Committee on Tax and Revenue conducted a public hearing on Thursday 4.6.2020, as part of its inquiry into the tax treatment of employee share schemes (ESS). The Committee heard from Treasury officials and the Law Council of Australia, represented by Mr Andrew Clements. See below for further details. [Tax Month…
On 2 June 2020, the ATO updated its ‘JobKeeper Key Dates’ webpage showing the relevant JobKeeper Fortnights and the enrolment and wage payment deadlines for each of them. See below for more details. [Tax Month – June 2020]
Consistent with the ‘JobSeeker’, ‘JobKeeper’ lingo, on Thursday 4.6.20, the Government announced their ‘HomeBuilder’ $25,000 cash grant scheme for building houses and renovating existing dwellings – designed to support the building industry, in the latter part of this calendar year. See below for further details. [Tax Month – June 2020]