The second tranche of the JobKeeper scheme changes the eligibility test for employers and the method and amount paid to employees.
We always knew that a Government scheme swiftly distributing cash during a crisis was going to come with equally swift compliance and review measures, particularly when eligibility was self-assessed. Two major Australian Taxation Office (ATO) initiatives are searching out fraud and schemes designed to take advantage of the Government’s Coronavirus Economic Response Package.
The Government has announced grants of $25,000 to encourage people to build a new home or substantially renovate their existing home.
This article discusses the potential advantages and consequences of withdrawing superannuation under the government’s COVID-19 initiative.