Date posted: 3/04/2020

JobKeeper letter regarding policy

Joint accounting bodies raise policy issues with the Treasurer.

Chartered Accountants Australia and New Zealand, Corporate Tax Association, CPA Australia, Institute of Public Accountants, Law Council of Australia and The Tax Institute (the Joint Bodies) offer to review any draft legislation and outlines the top 5 issues that accountants are asking about the announcement, namely:

  1. Definition of turnover and basis for grouping
  2. Mergers and acquisitions activity impact on long term casuals
  3. Adjustments for business disposals
  4. Sole trader extension to partnerships with active partners and potentially trusts and companies
  5. Fair regime for reasonable mis-estimation