Welcome to our April monthly newsletter!
The federal government will be continuing the country’s stimulus package by boosting the travel and tourism industries with a new support package of $1.2 billion. This package will allow travelers a 50% subsidy for domestic flights to select destinations throughout Australia. The destinations included in this package are the Gold Coast, Cairns, Whitsundays, Alice Springs, Broome, Kangaroo Island and Merimbula. This subsidy will be commencing on 1st of April 2021 so plan your holiday now!
Monthly tax tip:
Since we are on the topic of travel and holidays, why not also breakdown how you can make a holiday tax deductible. Business travel involves being away from home for at least one night for business purposes. Reasons for business trips include visiting customers or suppliers, meetings at other company locations, professional development, attending seminars, and networking, etc. Business travel days include days spent travelling, weekend days which are between two business days and days where more than 50% of the day was business activities. A travel diary will be required to keep data of the business activities and correctly apportion the expenses. The expenses that can be claimed whilst travelling are meals, accommodation, air and taxi fares and motor vehicles expenses. Please contact us if you would to maximise your tax deductions during your next trip.
- Make the March monthly business declaration for the JobKeeper Scheme
- Lodge and pay March 2021 monthly business/instalment activity statement
- Lodge and pay quarter ending 31 March 2021 activity statement if lodging by paper
- Make super guarantee contributions for quarter ending 31 March 2021 to funds by this date
- Pay quarter ending 31 March 2021 instalment notice. Lodge the notice only if you vary the instalment amount