our latest news

Year: 2020

MyGov accounts are NOT compulsory | So, do you really need one?

In February 2020, legislation came into effect that requires all employers to start reporting their payroll through Single Touch Payroll from 1 July 2019. Employers were given until 30 September 2019 to start reporting without needing to apply for additional time. As an employee, these changes mean that your tax and super information is now…

JobKeeper Extension: Here’s the details

JobKeeper Extension Update: Key Summary In case you hadn’t heard… The Government recently announced their intention to extend the JobKeeper Scheme post September (Yay!). This is great news, and will help to provide some additional relief for businesses and employees impacted by COVID-19 restrictions. Similar to the first round, there will be certain conditions that…

Cyber Security Alert: What to look out for

New alerts on cyber security have been released this year. With all small businesses being reminded about the importance of keeping an eye out for scams and hackers at EOFY. As a business owner, it is critical to take simple measures to protect your business and personal information against phishers and scammers. Here are some…

5 Tax Myths that could delay the processing of your Tax Return this year

There’s no doubt that 2020 has been difficult. However, organising your tax return appointment in July may not give you with the benefits you’re after. In some cases, rushing in to lodge early (because you’re expecting a tax refund), can become a hindrance for you rather than an advantage. As adapted from Tax & Super…

Working from home business expenses including setting up your home office

Claiming “working from home” expenses at tax time (2019-20)

Lately, we have been asked many questions relating to COVID-19 and how it will impact claimable deductions in the 2019-2020 Tax Year. The reality is that there are going to be some significant changes. Especially given many of you have incurred additional working from home expenses, that you wouldn’t typically experience in your normal working…

Updates to $10,000 Business Support Fund Criteria

Yesterday, the Victorian Government announced that they are going to be extending their $10,000 Business Support Fund. That way they can support even more Victorian businesses affected by the Coronavirus pandemic. They are now expanding the criteria to include businesses with a wages bill less than the payroll tax threshold of $650,000 who are participating…

Knox Taxation now partnered with Moula Pay

Now offering you extended payment terms with Moula Pay

According to research, 67% of Australian businesses believe extended payment terms are helpful for managing cash flow. At Knox Taxation, we’re all about helping our clients as much as we can during this difficult time. We’re also passionate about the importance of keeping your personal and business cash flow in good health. That is why…

JobKeeper Payment - Government Stimulus (1)-min

Enrolments for JobKeeper now OPEN!

We hope that you and your family are well and you are coping during these uncertain times. The Government and the ATO have just updated their process for applying for the JobKeeper payment. In this email we will update you on the changes, explain what you need to do to claim the payment and also…

JobKeeper Payment FAQ’s & What You Need to Do Right Now

Hi everyone, Hopefully you are well and getting through these crazy times with so much uncertainty. We’re doing our best to support you through this period, however, understandably, we are inundated with phone calls and emails with our businesses all wanting to know what they are entitled to, and what they need to do. We…

Coronavirus Update for Businesses (5)-min

Latest Coronavirus Update – The Impacts on Businesses & Individuals

It seems the whole world is talking about COVID-19, which given the latest updates is understandable. However, the constant bombardment of news and advice on social distancing, self-isolation, empty supermarket shelves and talk of business closures has left many of us feeling worried, stressed, overwhelmed and uncertain about what the future holds. This can have…