Monthly Snapshot September 2020

  • Post published:01/09/2020
Monthly Snapshot September 2020

Victorian Landlord & Tenant Relief Extended 

The Victorian Government will extend the ban on evictions and rental increases until 31 December 2020.

Residential and commercial tenants and landlords will also be able to take advantage of more support, including double the land tax reductions and more grant funding.

If you are a commercial or residential landlord and you meet the eligibility criteria for tax relief, you can access the following:

  • Landlords who provide rent relief to tenants impacted by COVID-19 could be eligible for a 50% reduction on 2020 land tax.
  • Eligible residential tenants and landlords will be supported with up to $3,000 in rental payments as part of the Rental Relief Grant program, with new recipients able to apply for the full amount, and up to $1,000 extra available for previous recipients.
  • Eligible small businesses that own their own commercial premises will now benefit from land tax relief as of 20 August 2020.
  • Landlords can also defer the remainder of their 2020 land tax to 31 March 2021.

Read The Premier’s full statement here

JobKeeper 2.0 starts this month!

Critieria and payment rates for JobKeeper are changing on 28 September 2020.

We have already been in touch with our JobKeeper clients regarding these changes, and we will continue to manage JobKeeper reporting for those who are still eligible under the new system.

If you have any questions or concerns about JobKeeper 2.0, feel free to get in touch with us.

JobKeeper 2.0 – What you need to know!
From 28 September 2020, the JobKeeper payment rate is to be reduced and paid at two rates. Get in touch with us before applying to ensure you’re compliant. 

SMSF Work Test Updates for 2020-21

From 1 July 2020, the Self Managed Super Fund (SMSF) work test has been abolished for those SMSF holders aged 65-66, who make non-mandated contributions to their SMSF account.

Anyone under the age of 67 can now make contributions to their SMSF without needing to satisfy the requirements of a work test. 

There have been no changes to the work test itself or to the timing requirements. Gainful employment (usually paid work) is still required and the the work test still needs be met before the contribution is made, and in the same financial year as the contribution.

For any questions regarding your Self Managed Super Fund, please get in touch with our Superannuation Administrator, Anne, at aburridge@aintreegroup.com.au. 

Connect with others at our Virtual Round-Table Events

To help support each other, we’re hosting casual monthly Plant: Grow: Reap video calls for business owners and entrepreneurs to check in and have a sounding-board to discuss the new financial year, COVID-19, and beyond. 

Our next session is 11:30am Tuesday 22 September 2020.

Register here to attend!

“If you haven’t joined in Aintree Group’s Virtual Round-Table event, I would urge you to take an hour out of your month and do so. I have been feeling in despair and chatting with the team at Aintree Group and hearing from other business people really lifted my spirits” – Jane Devereux, Your Screen Saver

Recommended Reading

Practical coping strategies for 2020

It can be tricky to know how to manage your mental health in a crisis, and this year has been difficult for everyone. Will Centurion is a life coach and counsellor, and he gave us some practical strategies that we can all use in our everyday lives to help manage and self-care.

Five ways COVID-19 has impacted your SMSF

Updating you on the key areas in Self Managed Super Funds that have changed in 2020, including the early release of Superannuation. 

An employers’ guide to navigating lockdown

Employer obligations are mounting during the pandemic: handling OH&S for remote workplaces, COVID-Safe Plans and Worker Permits, possible redunancies, and JobKeeper – it’s a lot to juggle!

Aintree Group Office Update

During the month of September we will continue to provide our full service remotely to ensure the health and safety of our team, clients and families. 

If you need to get in touch with us, please email admin@aintreegroup.com.au and someone will get back to you as soon as possible.