Taxpro Australia has been very busy assisting clients with advice on how to claim the numerous Government stimulus measures introduced to support business through the Covid-19 pandemic.

With mounting pressure from the industry, the ATO has now recognised that to ensure a well-functioning tax system, there needs to be some tolerance on non-lodgements and non-payments throughout this challenging period.

As a result, a number of deferrals and penalty waivers have automatically been applied.

  • Company 2018-19 income tax returns have been extended to a new due date of 5 June 2020
  • Self-managed Super Fund (SMSF) 2018-2019 annual returns are now due on 30 June 2020
  • 2019-20 Fringe Benefits Tax (FBT) annual returns have also been automatically deferred to 25 June 2020
  • 2018-19 income tax returns for individuals, partnerships, and trusts can be lodged by the 5 June concessional due date, provided clients pay any liability by this date.

Please make a note of the extended deadlines and if you have any questions, please contact your Taxpro accountant direct or for general enquiries call Chloe on 08 9240 7629 or email: admin@taxproaustralia.com.au

We have been keeping you up to date with the latest Government releases in our downloads section, which provide more detail about some of the stimulus packages including JobKeepers, businesses in financial hardship and support for small businesses. However, there are still areas within the new policies that are unclear, so please do not hesitate to send us a message or give us a call.

Bruno de Paiva is our resident expert on all things related to the JobKeeper payments. You can contact Bruno direct by calling him on 0414 800 171 or email bruno@taxproaustralia.com.au.