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  • JobMaker for small business

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    20 April 2021

    The government is implementing measures to help businesses recover from the impact of COVID-19.

    You can find out more about those measures in our new Tax inVoice podcast episode. It's your chance to hear senior ATO staff and experts explain elements of the government's JobMaker Plan, including:

    • JobMaker Hiring Credit
    • temporary full expensing
    • loss carry back.

    The podcast episodes give you an overview of the measures and how your business may be able to benefit from them:

    • JobMaker Hiring Credit – eligible businesses can receive payments for new positions they create for eligible employees between 7 October 2020 and 6 October 2021.
    • Temporary full expensing – eligible businesses can deduct the business portion of the cost of eligible depreciating assets first held and used or installed ready for use from 7:30pm (AEDT) on 6 October 2020 until 30 June 2022.
    • Loss carry back – eligible corporate entities may be able to claim a refundable tax offset in their 2020-21 and 2021-22 company tax returns, if they made a loss in the 2019-20, 2020-21 or 2021-22 income years.

    Loss carry back and temporary full expensing work together to help businesses.

    Temporary full expensing encourages new investment, which may result in tax losses. The choice to carry back tax losses may result in a tax refund which will increase business cash flow.

    Next steps:

    See also:

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