Jennifer Motisanti has released an update on how the ATO will be supporting NFPs during the COVID-19 pandemic.
The update mentions the following measures that have been enacted:
- Cash flow assistance for employers
- Tax-free treatment of stimulus payments
- Increasing the instant asset write-off, making more businesses eligible
- Backing business investment by accelerating depreciation deductions
Useful links and resources are also shared in the update, including a link to common questions and answers and an article with advice tailored to NFPs.
Click here for more information.