Temporary early release of superannuation

Date: 25 March – 24 September 2020Applications from 20 April 2020 Applies to: People in severe financial hardship From 20 April 2020, people in financial distress as a result of the coronavirus pandemic will be able to self-certify and apply for early release of up to $10,000 of their superannuation in 2019-20, and again in 2020-21 (up until 24 September 2020). Superannuation accessed under this measure is not taxed and…  Read more

The $1,500 JobKeeper Package – what you need to know

Date: From 30 March 2020 for six months For employees employed at and from 1 March 2020  First payments in first week of May 2020 Applies to: Based on comparable periods: Employers <$1 bn that have experienced a downturn of more than 30% Employers >$1bn that have experienced a downturn of more than 50% A subsidy of $1,500 per fortnight per employee, administered by the ATO, will be paid to businesses that…  Read more

Super guarantee amnesty: How to get your payroll right

The superannuation guarantee (SG) amnesty provides employers with a one-off opportunity to “self-correct.” Now is the time to ensure that your payroll is correct and there are no hidden SG issues looming. The amnesty applies from 24 May 2018 (the date of the original announcement) until six-months (deadline to 7 September 2020). Employers will have this period to voluntarily disclose underpaid or unpaid SG payment to the Commissioner of Taxation.…  Read more

The Stimulus Package: What do you need to know?

The First Stimulus Package The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus. The four-part package focuses on business investment, sustaining employers and driving cash into the economy. In Summary Business Business investment Increase and extension of the instant asset write-off Accelerated depreciation deductions Cash flow assistance for small and medium-sized business Tax-free payments up to $25,000…  Read more

JT&P Internship Program

JT&P is pleased to announce Clunie Palliser as the first recipient of the Jeffrey O Thomas Internship, in cooperation with Carey Baptist Grammar School. The connection with Carey is that our founding Managing Partner, Jeff Thomas attended the school from 1960 – 1966, was President of the Old Carey Grammarians Association, Chairman of the School Board, and is an Honorary Life Member of the School. The Carey quadrangle is named…  Read more

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