COVID-19 Updates

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24 March 2020

knp COVID-19 Relief packages/stimulus (Federal Government, State Government & ATO) 

 

 

COVID-19 has invoked an unprecedented response from the Federal Government, Victorian State Government & the Australian Taxation Office (ATO). The focus of these packages is on supporting businesses & individuals who will face a decline in income over the coming months. knp has identified five different strategies to assist business and individuals in these difficult times;

   

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23 March 2020

Special Announcement 

 

As you are probably aware, many workplaces have been forced to work from home given the impact of COVID-19.

 

knp is well placed as we are 100% cloud-based and all staff have reliable computers with internet access. As such, we are confident we will still be able to produce high quality work in a secure environment.

 

We understand that businesses will face a variety of challenges over the coming months. If there is anything we can do to assist, please let us know.

   

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16 March 2020

Special Edition: COV-19

 

knp Solutions has prepared a special edition newsletter outlining:

  

  • Australian Government’s economic response to COV-19 & how this could relate to your business
  • knp client meetings
  • COV-19 symptoms & information for workplaces

   

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28 April 2020

JobKeeper Update 

 

The key areas addressed that will impact our clients were:

 

  • Extension of time from 30 April to 31st May 2020 to enrol for the JobKeeper scheme
  • Charities and the treatment of government revenue. Charities can exclude Government revenue from the JobKeeper turnover test

   

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20 April 2020

JobKeeper Enrolment 

 

Now that JobKeeper enrolment has opened for businesses, we want to provide you with the information that will be required to complete the enrolment process.

 

Firstly, please ensure that your business has done the following:

   

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20 April 2020

JobKeeper Stimulus Update 

 

Business Eligibility Tests

 

  • Turnover Test: For the less or more than $1 billion turnover - this test looks at the annual group aggregate turnover
  • Turnover is defined as per GST purposes, in simplistic terms your G1 figure

   

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1 April 2020

Stimulus package - JobKeeper Payment 

 

JobKeeper Payment – Wage subsidy plan to help Australians keep jobs

 

As you may be aware, the Australian government has announced a $130 billion JobKeeper payment program to support businesses and help those Australians who have been affected by the economic impact caused by the coronavirus pandemic retain their jobs.

   

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1 May 2020

JobKeeper Update – by Mei Wu 

 

Watch here

 

Making sense of it all with Ali Roshan – Transparency within Super Funds

 

According to ASIC, a number of Superannuation funds are falling short on their obligations to provide transparency.

   

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14 May 2020

COVID-19 The Economic Story - by Ali Roshan & Andrew Freeman
 

 

Watch here

 

25 May 2020

Your Self-Managed Superannuation Fund (SMSF) and Investment Properties during COVID-19 – by Victoria Kogan
 

 

Rent Relief for related party tenant

 

• A common question being asked is “My superfund owns my business premises and my business is suffering due to COVID-19

 

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26 May 2020

Business Support Fund - Eligibility Update
 

 

We have just received an update on the Victorian Business Support Fund in case you did not meet eligibility previously, they have added an additional, more lenient criteria.

 

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26 May 2020

What's Next For Your Business

 

We hope that this message finds you and your families in good health and managing to navigate the personal and professional challenges that you face.

 

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BusinessKeeper Hotline 

12 June 2020

knp Announces BusinessKeeper Hotline

 

During these most unusual times, businesses face many challenges with the constantly changing landscape. Government, both Federal & State, have responded with several incentives, grants...

 

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22 June 2020

Budget, cashflow and tax planning by Mei Wu

 

Join Mei Wu in this video edition on the importance of preparing budget, cashflow and tax planning.

 

We will look at why every client should consider and the benefits of having them in place.

 

Watch here

 

15 June 2020

Cashflow Takes Corona’s Crown! – by Norman Same

 

The COVID-19 pandemic impacted our lives in ways we could not have imagined.

 

Federal and State Governments introduced several very expensive programs to both business and consumers in a short time frame, to curb major economic fallout. Some economists have already predicted that this may not be enough, and it could take many years to repay the enormous debt incurred.

 

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10 July 2020

Claiming Home Office Expenses in Your 2020 Tax Return – Holly Laidlaw

 

In response to the demand for workers to work from home, for the 2019/2020 Tax Year there have been some changes to the options available to taxpayer’s wanting to claim expenses related to them working from home. There are three options available to taxpayers, we have detailed each of these below.

 

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22 July 2020

Business Support Fund

 

The Victorian Government has announced a one - off $5,000 grant under the Business Support Fund to support businesses employing staff that have been impacted by Stage 3 ‘Stay at Home’ restrictions for a period of 6 weeks.

 

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24 July 2020

JobKeeper Extension

 

The Federal Government announced on the 21 July 2020, that it is extending the JobKeeper program for eligible businesses and not-for profit charities by a further 6 months to 28 March 2021.

 

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6 August 2020

Stage 4 Restrictions "Business as usual (almost)"  

 

As you are probably aware with the recent stage 4 restrictions announced by the Victorian government, many workplaces have been forced to close their workplaces & where possible, work entirely from home.

 

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17 Sept 2020

JobKeeper Extension

 

On 21 July 2020, the Government announced that due to the ongoing COVID-19 crisis, the JobKeeper Program will be extended by six months until 28 March 2021.

 

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