Blog | MP Tax & Business Solutions

The new $130b JobKeeper Initiative

The Morrison government announced yesterday in response to the COVID-19 pandemic and its impact on the Australian economy, that a new subsidy program to support businesses and employees is being implemented from March 30th. It has been named the JobKeeper Payment, and aims to cover the costs of employees' wages so that businesses are not forced to lay off staff and continue trading as best they possibly can. The government has released detailed fact sheets explaining which businesses and which employees would be able to apply for this payment. You can download all three PDF's below. Fact Sheet for Businesses Fact Sheet for Employers Fact Sheet for Employees Key points of the payment are; A B

COVID-19 Stimulus Package

We would like to take this time to write to you all in this very difficult time for both our country and the world. The impact of the COVID-19 pandemic is yet to be fully understood both from a medical standpoint and an economical one. We do however know what the government is willing to offer us in the form of fiscal stimulus and this is the area that we intend to help as many of our clients as possible. This email will briefly highlight some of the main benefits that you will be able to access to help your families and businesses survive this difficult period. The government has also not ruled out providing more stimulus if it is deemed necessary. As of 24th of March 2020; Small-Medium Bus

Coronavirus Stimulus Package

The Morrison Government has announced yesterday a $17.6 billion economic plan to keep Australians in jobs, keep businesses in business and support households and the Australian economy as the world deals with the significant challenges posed by the spread of the coronavirus. This massive stimulus package is focused on keeping Australians in work and helping small business stay afloat through what could be a long winter as the world comes to grips with the Coronavirus outbreak. The details of the stimulus and how it will be delivered are still somewhat vague, however the proposed package which is expected to pass is as follows. Cash flow assistance for businesses $6.7 billion to Boost Cash Fl

Save thousands by keeping a Log Book!

Did you know that unless you keep a log book for your car you can not claim more than $3,400¹ in motor vehicle deductions on your tax return, regardless if you are an individual or a business!² Let's do some quick calculations. Assuming you spend $75 a week for fuel, over 48 weeks, that’s $3,600. This is already more than what you are allowed to claim without a logbook and we haven’t even included registration costs, repairs, depreciation, interest on any finance or insurance! Provided you are using your car predominantly for work purposes³, the only way to include these extra deductions is to prepare a log book. Preparing the log book is easy too. Each time you use your vehicle, you need