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Investment Outlook – August 2020

August ushers in one of the most anticipated reporting seasons for some time. Investors will be given a chance to assess the damage from the crippling COVID-19 virus on corporate performance. While ASX 200 companies…

$2.5bn JobTrainer Package

The Government has announced the $2.5bn JobTrainer package to retrain, upskill and open new job opportunities. An additional 340,700 training places will be created to provide no or low cost courses into sectors with job…

Job Keeper 2.0: The New Requirements

Between April to May 2020, JobKeeper was taken up by 920,000 organisations and around 3.5 million individuals – 30% of pre-Coronavirus private sector employment. On 21 July 2020, the Government announced an extension of the…

Investment Outlook: Winter 2020

The future looks positive for the equity market, but ‘great expectations’ of the successful reopening of the economy and the eventual development of a vaccine, maybe what hampers the market’s near-term performance as we saw…

The ATO’s JobKeeper Audit Targets

The JobKeeper subsidy has progressed beyond the rush for eligibility and entered its second phase: compliance. Late last month, the Australian Taxation Office (ATO) released guidance highlighting where the regulator will focus its compliance resources.…

“Beware” New Accounting Standards

The coming end of financial year reporting period will be the first period that many entities will be applying the new accounting standards in relation to revenue recognition and leases in their financial statements. These…

Team Q&A: Ash Richardson

This month we (remotely) caught up with PPT Audit Supervisor Ash Richardson. Born and bred in Cohuna, Ash moved to Ballarat to study at Federation University in 2012. At University, Ash studied Commerce, majoring in…

Investment Outlook: June 2020

Local and international markets have marked time in recent weeks as investors wait to see how the coronavirus outbreak will develop and what its ultimate impact will be. On the plus side, with supportive economic…

Adjustment to work from home expenses

With the increased numbers of taxpayers working from home due to COVID-19, the ATO has released specific guidance softening the rules around claiming deductions for home office expenses, including a ‘shortcut’ set rate method. Firstly,…

$25K HomeBuilder Grant Announced

The Government has announced grants of $25,000 to encourage people to build a new home or substantially renovate their existing home. The HomeBuilder scheme targets the residential construction market by providing tax-free grants of $25,000…

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