In the early hours of this morning the legislation was passed allowing the government to proceed with the Covid-19 stimulus package/es.

So, at least now we have some certainty of what entitlements may come into play for your individual circumstance.

For businesses, I strongly urge you NOT to undertake an activity (or scheme) that places you in a position of receiving payment that you may not have ordinarily been entitled to. The penalties are severe and can include 12 months jail. Some entities may not be entitled to the ‘cash flow boost’ for PAYG W but may be entitled to the ‘Jobkeeper’ payment for employees and some directors’. Jobseeker payment is another option.

In order to assist you in navigating the packages and determining eligibility etc., we are offering a 2020 Tax Planning Session. This session includes:

• A review of business trading for the year, and developing corrective actions that may be required pre 30 June 2020
• Customised information based on your particular business circumstance and ongoing guidance thru relevant Covid 19 legislations.
• Where necessary, ongoing monitoring of monthly turnover in order to determine eligibility for some aspects of the stimulus package to allow for prompt application

The fee for this session is a very reasonable $275 – email admin@bennettstax.com.au for a booking –

(via facetime / skype / whatsapp) – bookings are being taken now for Wednesday 15^th April and onwards to allow time for preparation / review of data that directly relates to your circumstances.

If you have any questions about our 2020 Tax Planning Session or any other matter – please don’t hesitate to contact Diane Bennett directly 0421 074 952

Remember to stay safe! And stay at home! (for those that can)