D’Omkara Knowledge December 2020
What a year it has been! As Christmas draws near, it also signals the fresh start that 2021 can bring. In this month’s edition of D’Omkara Knowledge, we provide a summary of the key information you need to end the year in the best possible position:
- Extended December JobKeeper deadlines
- Last chance to access the COVID-19 early release of superannuation
- 2021 risks and opportunities
Contact our office on (03) 9579 4450 or email us at team@domkara.com.au if you have any questions.
Extended December JobKeeper Deadline
The ATO extended the JobKeeper monthly business declaration deadline for December until 28 January 2021, from the original deadline of 14 January 2021.
This applied to the JobKeeper fortnights ending on 6 December 2020 and 20 December 2020.
The deadline for meeting the minimum wage condition for the JobKeeper fortnight ending on 3 January 2021 was extended to Monday, 4 January 2021.
Last Chance to Access the COVID-19 Early Release of Superannuation
31 December 2020 was the final day to apply for early access to superannuation under the COVID-19 early release measures. The ATO advised that anyone wanting to access their superannuation before Christmas needed to complete their application by 11 December 2020.
Eligibility criteria can be found in the newsletter available through the “Read More” button below.
2021 Risks and Opportunities
Opportunities
Employers and job building
- HomeBuilder and the housing industry
- Extended rules for writing off assets, including benefits for Australian subsidiaries of global companies
Risks
- COVID-19 rules and regulations
- Australia’s relationship with China
- Cash flow pressures
