It is possible to receive amounts that are not expected by the ATO to be included as income in your tax return. However some of these
amounts may be used in other calculations, and may therefore need to be included elsewhere in your tax return.
Refinancing loan interest may be deductible to a partnership
A general law partnership is formed when two or more people (and up to, but no more than, 20 people) go into business together. Partnerships
are generally set up so that all partners are equally responsible for the management of the business, but each also has liability for the
debts that business may incur.
The JobKeeper 2.0 Guide contained herein is provided on the understanding that it neither represents nor is intended to be advice or that the authors or distributor is engaged in rendering legal or professional advice.
The ATO has highlighted the fact that due to COVID-19, a trustee may experience liquidity issues that may affect a trust’s ability to
satisfy a beneficiary’s entitlement. This may happen where financial institutions impose restrictions that affect the way a trustee can deal
with its assets.