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ATO penalties for false JobKeeper claims or failure to comply with employer obligations. Source:Rockwellbates The Australian Taxation Office (ATO) have indicated they will investigate any organisations who have claimed the JobKeeper subsidy where there may be concerns of fraudulent behaviour.   In extreme cases, employers found to have knowingly made a false claim for JobKeeper payments could be fined up to $126,000 or 10 years in prison. If an employer is found not to be entitled to the subsidy, it may have to repay the monies, plus any interest and an administrative penalty of up to 75% on the shortfall amount.   ...

Oct 29, 2020 Posted by In Articles Tagged , Comments 0
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ATO updates tax guidance for home-based businesses-By Maja Garaca Djurdjevic Source:publicaccountant The Australian Taxation Office has advised that it will be accepting a temporary short-cut method from 1 March 2020 until at least 30 June 2020, allowing business owners of home-based businesses to claim a rate of 80 cents per hour for all their running expenses. The ATO’s definition of a home-based business is one where the business owners’ home is also their principal place of business. That is, they run their business at or from home, and have a room or space set aside exclusively for business activities. ...

Jun 12, 2020 Posted by In Articles Tagged Comments 0
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