COVID-19
As businesses navigate challenging times, KPMG Tax Now is providing practical and insightful information to assist you during COVID-19.
The KPMG Business Assist tool has also been developed to provide employers the ability to self-assess their eligibility for various government assistance measures, including the JobKeeper payment and Cash Flow Boost.

Latest COVID-19 Content
Webinar: Global disputes in a COVID-19 era
There is no doubt that post novel coronavirus (COVID-19), things will be different for both taxpayers and the revenue authorities.In this session, we will be joined by senior officials from the Australian Taxation Office (ATO), Her Majesty's Revenue and Customs (HMRC) and the Internal Revenue Service (IRS) to consider what taxpayers and tax authorities are currently dealing with, how they might...
COVID-19: To pay or not to pay tax in New Zealand?
“Revenue is vanity, profit is sanity, but cash is king”Like many of the best quotes, the origin of this one has been lost to the winds of time. However, its words have never been more appropriate in today’s environment. As anybody who has run a business knows, “cash flow is everything”.Many New Zealand businesses are feeling the full force of the COVID-19 impacts and it is becoming increasingly...
COVID-19 era disrupts, challenges super funds
The COVID-19 crisis has added even more complexity to a rapidly-changing super fund sector and has disrupted established market trends. Everything has been thrown into the air.KPMG’s fourth annual Super Insights report analyses the most current available data from the Australian Prudential Regulation Authority (APRA) and the Australian Taxation Office (ATO), as at 30 June 2019, covering the who...
Real estate and infrastructure funds: COVID-19 distributions webinar
Date: Thursday 28 May 2020 Time: 11:30am – 12:30pm AESTHosts: KPMG's Scott Farrell (Deal Advisory Tax), Minh Dao (Deal Advisory Tax), Ed Tong (Deal Advisory Tax), and John Moutsopoulos (KPMG Law).RegisterWith the economic impacts of COVID-19 resulting in decreased revenues and government-endorsed relief arrangements (e.g. commercial tenancy relief), investors in real estate and infras...
COVID-19: Government economic support in the Asia Pacific region
During recent weeks, we have seen governments throughout the Asia-Pacific (ASPAC) region take significant measures to alleviate the burden of the COVID-19 pandemic on their citizens and their economies.The cost of the fiscal and financing measures that we are seeing rolled out would have been unimaginable mere months ago. Given the economic impacts of the pandemic, and the size of the support p...
COVID-19 presents unique remuneration challenges for boards
The social and economic lock-downs instituted by the Federal and State Governments in response to COVID-19 have played out, unsurprisingly, in a wave of market volatility as different industries and companies are impacted in different ways. Some riding the crest of those waves, some wiped out – everyone startled by how far from shore we appear.These social and economic swells are resulting in u...
COVID-19: Asia-Pacific region – Implications for Australia
The coronavirus (COVID-19) challenge will hit emerging economies hard – including those in the Asia-Pacific region neighbouring Australia. While problematic for those nations, new complexities in the region could also drive a number of economic and societal concerns for Australia.While China looks to have made headway in both fighting the virus and economic recovery, other countries in the regi...
OECD outlines role of tax and fiscal policies in response to COVID-19 pandemic
The Organisation for Economic Cooperation and Development (OECD) says it’s deploying its data gathering and analytical capacities to help governments face COVID-19 challenges while supporting businesses and people towards economic recovery.In an update provided this week, the OECD noted governments are taking multifaceted actions to support their citizens and businesses and to maintain the prov...
COVID-19 webinar: JobKeeper Rules and ATO guidance update
Date: Monday 4 May 2020 Time: 12:30pm – 1:30pm AESTHosts: KPMG’s Grant Wardell-Johnson (Lead Tax Partner, Economics & Tax Centre) and Andy Hutt (Director, Economics & Tax Centre).RegisterKPMG's Economics & Tax Centre invites you to a webinar in which we will examine the key changes to the JobKeeper Rules and updates to ATO guidance that have occurred since 22 April. These ...
COVID-19: Border Force announces temporary duty relief for select importers
In a move welcomed by industry, that will provide immediate cash-flow benefits to traders, Australian Border Force has announced a new concession to provide a free rate of customs duty on certain medical and hygiene products imported for the immediate response to the COVID-19 pandemic.Item 57 and Customs By-Law No. 2019608 to Schedule 4 of the Customs Tariff Act 1995 (Cth) provides a free rate ...
COVID-19: Getting ready for reporting season – consideration of DTA recoverability
As businesses continue to feel the impact of COVID-19, and with 30 June reporting season around the corner, it is important to not lose sight of the recoverability of Deferred Tax Assets (DTAs) and the work that should be undertaken in this regard.Management needs to consider the effect of any changes to their forecasting and the probability of future taxable profits.Australian Accounting Stand...
COVID-19: A dichotomy awaits tax functions
The COVID-19 pandemic has affected every aspect of business and the tax function is no different.There is currently an important debate – and a dichotomy – which we observe many companies grappling with.The question can be boiled down to – do you focus on managing tax risk and your costs now or do you think more about building up your people and technology for the future?Of course there is no o...
Productivity key to repaying the COVID-19 debt
Australia is in the middle of – hopefully – a once-in-a-generation health crisis that is causing a similarly unprecedented economic challenge. The Federal Government has responded well on both. The ‘save the furniture’ fiscal policy response will come with a gigantic bill, but the cost of inaction would surely have been significantly larger.Many are now querying the affordability of the policy ...
COVID-19: Tax Governance response
The global financial crisis (GFC) was in part considered a governance and corporate morality crisis.During that crisis there was however the equal focus on cash and good management as there is now. Perhaps more poignant in the current crisis is the challenge of rapidly moving taxation developments where tax decisions need to be made when the treatments are not clear and the impact of business a...
COVID-19 Business Assist
The KPMG Business Assist tool has been developed to provide employers the ability to self-assess their eligibility for various government assistance measures, including the JobKeeper payment and Cash Flow Boost.  In the wake of the economic impact due to COVID-19, Australian state and federal governments have put in place a range of measures to assist businesses bridge the period of restri...
International Tax update webinar: A cross-border perspective on COVID-19
Businesses are needing to respond faster than ever to the evolving global economic and business landscape in the face of the pandemic, and many find themselves in unchartered waters.At the same time, the host of international tax issues facing multinationals and the focus of revenue authorities on these issues will remain. As governments start to deliberate methods of funding their COVID-19 sti...
COVID-19: Temporarily displaced employees – ATO guidance updated
The updated guidance outlines factors that need to be considered in determining the source of an employee’s employment income.  These factors will be crucial in determining whether employees are subject to Australian income tax on that employment income, and consequently what the tax reporting and withholding obligations are for employers.Where it is determined that the employment income i...
Australia’s COVID-19 performance: A quantitative analysis
KPMG has examined global COVID-19 deaths, cases and resulting case fatality ratios (CFRs) to better understand the drivers of the variation, and the extent to which Australia’s relatively good performance is a result of good luck, good management, or a combination of both.The analysis follows the Morrison Government releasing the Doherty Institute modelling that has informed its decisions to da...
COVID-19: Superannuation update for SMSF trustees
The Federal Government has released a number of superannuation measures to assist those affect by the economic impact of coronavirus (COVID-19), this is how self-managed superannuation funds (SMSF) trustees could be affected.Alongside other stimulus efforts, the Government is allowing early access to super, changes to some pension requirements and rental reductions.Early release of superannuati...
Banking tax impacts amidst COVID-19
It’s a rapidly moving picture in which new relief and support measures for businesses including banks and financial institutions are being announced by governments and authorities almost every day in countries around the world. One of the most important things for any bank is to keep pace with these developments and ensure they are able to factor the likely effects into their financial models a...
COVID-19: Franking credit planning opportunity
With the COVID-19 pandemic negatively impacting the profitability of so many business, the payment of dividends by companies in the short term is something that many directors may feel they can ill afford to do.This said, there may be steps that directors can take now to protect a company’s ability to pay franked dividends in the future, when the current uncertainty subsides and confidence is r...
ATO clarifies FIFO employers’ FBT responsibilities for COVID-19 changes
In the whirlwind past few weeks of COVID-19-related government announcements, you might have missed some crucial clarifications from the Australian Taxation Office (ATO) on the fringe benefits tax (FBT) treatment of certain benefits provided to rostered and rotational workers. This is a good news story – read on!For most professions, the social distancing requirements arising from the COVID-19 ...
COVID-19 webinar recording: JobKeeper payment legislation – key messages for employers
The JobKeeper payment legislation, introduced by the Federal Government, passed both Houses of Parliament on Wednesday 8 April and received Royal Assent on Thursday 9 April.KPMG held this webinar to highlight the key actions and priorities that employers will need to consider in the coming days.Please note: Since this webinar was recorded, the Federal Government has released the Coronavirus Eco...
COVID-19 webinar: Capital management considerations in Transactions, Tax and Law
This webinar is designed specifically for M&A practitioners, tax and legal professionals, to explore key considerations relating to the challenges and opportunities ahead.KPMG's Cecily Conroy (Partner and Head of Equity Capital Markets Advisory), David Willis (Partner and National Sector Leader, Private Equity), Scott Mesley (Partner and National Leader, Debt Advisory), Hoda Nahlous (Partne...
COVID-19 webinar: JobKeeper Payment Legislation – key messages for employers
Parliament is expected to pass the JobKeeper Payment legislation on 8 April. Employers will need to act quickly to assess their eligibility and put systems in place to comply with the requirements. KPMG is hosting this webinar to highlight the key actions and priorities that employers will need to consider in the coming days.KPMG’s Grant Wardell-Johnson (Lead Tax Partner, KPMG Economics & T...
COVID-19: New M&A tax depreciation ‘sleeper’
Among the amendments giving effect to the Federal Government’s Tranche 1 and Tranche 2 stimulus measures, was an interesting amendment contained in the Coronavirus Economic Response Package Omnibus Act 2020.This seemingly innocuous addition to section 705-45 of the Income Tax Assessment Act 1997 potentially has a far reaching and non-COVID-19 impact.Taking a step back for a moment, where an ent...
COVID-19: More considerations for tax functions – tax attributes
As the full effects of COVID-19 hit businesses, it is crucial that tax attributes are available for use when business performance bounces back to something resembling ‘normal’.Where available, they can essentially mean that the pain felt was not a ‘permanent’ cost.Some key items in this regard that Tax Managers should be considering are:Losses – the satisfaction of loss recoupment tests (especi...
Covid-19 webinar: Global Supply Chain planning in a post-COVID-19 world
This webinar will focus on global supply chain planning for a world after novel coronavirus (COVID-19).It will cover:contingency planning post COVID-19;ncentives and relief for business expansion and relocation;future of global trade beyond 2020; andeffects of COVID-19 to distribution models and the resulting transfer pricing implications.Hosts:Doug Zuvich, Head of Global Trade & Custo...
COVID-19: Tax functions need to take stock, engage
The state of play with COVID-19 is changing daily, and tax functions have an important role to play within their organisations. At a crucial time for many organisations, the tax function should be able to deliver value and manage risks.At a minimum, tax functions need to:get up to speed with (and communicate internally about) the large volume of federal and state stimuli measures and how t...
COVID-19: Australia’s foreign investment framework changes
In response to the current environment that is materially impacting the financial position of Australian businesses, the Australian Government has announced new foreign investment measures to take immediate effect that are designed to help protect the interests of Australia and Australian businesses.Key points: FIRB decision period to be extended from current 30 day period to up to six months f...
COVID-19: Instant asset write-off and business investment incentive - FAQs
The world has moved rapidly between tranche 1 and tranche 2 of Federal Government’s economic stimulus response to the economic impacts COVID-19 will have on Australian businesses.Tranche 1 was focussed on ‘stimulus’ and tranche 2 is very much focussed on ensuring business continuity and solvency.In this article, I will address two key measures that affect business from tranche 1 of the Governme...
COVID-19: Managing taxation obligations - the ATO’s administrative relief approach
The nature and pace of the evolving COVID-19 crisis is challenging the strength and resilience of most businesses in many different and ever-changing ways.  To combat the challenges faced by the community at large, over the past week, Federal & State Governments have announced spending stimulus packages and tax relief measures aimed at supporting the community and businesses throu...
COVID-19 webinar recording: ATO’s approach to managing taxation obligations
The Australian Taxation Office (ATO) COVID-19 Response Committee Chair Jeremy Geale has outlined the organisation’s response to the pandemic and the assistance being offered to affected taxpayers during a webinar hosted by KPMG’s Angela Wood.The webinar, held on Thursday 25 March, explored:the financial difficulty support measures currently offered by the ATO in response to COVID-19 such as deb...
COVID-19 stimulus measure: Boosting cash flow for employers
Boosting Cash Flow for Employers provides for payments to support employers by boosting their cash flow and encourages the retention of employees through any downturn.The payments referred to as Cash Flow Boost Payments comprise:the first cash flow boost; andthe second cash flow boost.This “payment” is a credit against a liability that is arising for the employer. The amount is recognised as a ...
COVID-19: Practical employment tax matters being investigated
There are a number of different questions being asked by employers who have employees working in locations that may not have been contemplated.For example, employees might be working from international locations, interstate or working from home, .We have outlined below some FAQs from employers.Fringe benefits tax – how can I best support my employees with health matters or relocation matters? T...
COVID-19: managing taxation obligations – the ATO’s Approach
We invite you to join our first webinar in the series in which KPMG’s Angela Wood, Partner and Regional Leader, Tax Dispute Resolution & Controversy will host a discussion with the Australian Taxation Office (ATO) COVID Response Committee Chair Jeremy Geale.They will explore the ATO Administrative Concessions currently available to taxpayers who may be experiencing difficulties with their t...
COVID-19: Internationally mobile employees
Many Australians who have been living overseas have, over the last few months, found themselves temporarily back in Australia for various reasons as a result of COVID-19. This movement has further increased in the last week following the advice of the Australian government for all Australian citizens and permanent residents to return. This has created uncertainty for many of those individuals r...
COVID-19: Australian employment tax matters
The Australian Taxation Office (ATO) and state revenue authorities are working with both the Federal and State Governments to implement a broad range of measures and provide relief to employers.We outlined some of the key announcements and responses to employment tax concerns below.Payroll tax reliefNew South WalesPayroll tax paying businesses whose total grouped Australian wages for the 2019/2...
Tax relief in New Zealand Government's response to COVID-19
The New Zealand Government released on Tuesday its $12.1 billion fiscal and economic response to the COVID-19 pandemic.The amount of the proposed relief is equivalent to approximately 4 percent of New Zealand’s annual GDP.Stimulus package The bulk of the package comprises spending of:$5.8 billion in wage subsidies for businesses, up to a maximum cash payment of $150,000 over the next 12 weeks c...
Potential impact of COVID-19 on the Australian Economy
KPMG Australia’s modelling suggests that, in the absence of the Commonwealth Government’s stimulus package, the COVID-19 pandemic would reduce Australia’s GDP in 2020 by about 0.9 per cent. While GDP rebounds in subsequent years it takes almost the remainder of the decade for GDP to return to the levels forecast prior to the onset of this pandemic.These impacts would amount to a hit to Australi...