Small and medium sized businesses and not for profit entities, with an aggregated annual turnover of less than $50 million ( usually based on their prior year’s turnover) that employ people, may be eligible to receive a total payment of up to $100,000 (with a minimum total payment of $20,000.
When preparing your tax return this year, it is important to consider whether your claim for laundry expenses or clothing is legitimate. Last year the ATO paid out $1.5 billion to six million people for claims made under $150 where no tax receipt is required. This year they are hoping to claw back millions by adding this area to their hit list and more closely examining deductions made for work uniforms and washing and dry cleaning of them.
Legislation passed both houses of parliament on 24 February 2020, which allows employers a one-off amnesty for outstanding superannuation entitlements. Employers who have not paid their workers their superannuation entitlements will be given an amnesty of 6 months from the date of royal assent to rectify this issue.