‘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.…

Tax Month – April 2020

T a x  T e c h n i c a l  –  M o n t h l y  N e w s – April 2020 Edition – Tax developments for tax practitioners by a tax practitioner.   Compiled by F John Morgan A member of the Victorian Bar (www.FJMtax.com) Table of Contents ______________________________________________________________________________  …

Travelex – Commissioner seeks leave to appeal to the High Court from the test case he lost – about the date from which interest on overpaid tax under RBA system

The Commissioner is seeking special leave to appeal to the High Court against the decision of the Full Federal Court in CofT v Travelex Limited [2020] FCAFC 10, which related to the amount of interest the Commissioner had to pay, from a successful GST test case, which went all the way to the High Court…

Employers Cash Flow Boosts: A Beginner’s Guide with worked examples (quite the best thing I’ve read on this)

On Tuesday 31.3.2020, in the Tax Institute’s weekly tax bulletin: TaxVine (No. 12 – Supplementary Edition), their Senior Tax Counsel’s Report, Bob Deutsch wrote and article entitled: Employer’s Cash Flow Boosts: A Beginner’s Guide. This gives worked examples, to demonstrate how the system works (and how overly difficult ‘Employer cash boost’ is). This measure was part of…