Road to Recovery? The 2020-21 Federal Budget is a road to recovery paved with cash. Key initiatives include: Personal income tax cuts from 1 July 2020 A $4 billion ‘JobMaker’ Hiring Credit to encourage businesses to take on additional employees aged 16 to 35 years old $110 billion in infrastructure investment over 10 years […]
Do you need to apply for the superannuation guarantee amnesty? If yes, you need to act now. If you have unpaid super to your employees, you must apply for the amnesty no later than 7 September 2020 to avoid incurring penalties or paying administration fees. To be eligible for the amnesty you will […]
JOBKEEPER 3.0 The Treasurer has announced further changes to JobKeeper, following on from our Newsletter ‘JobKeeper 2.0’ on 23 July 2020. SUMMARY OF KEY POINTS 1. The relevant date of employment will move from 1 March 2020 to 1 July 2020, which increases the number of employees able to access JobKeeper. 2. JobKeeper payments from 28 September 2020 – 3 January […]
Click here to download the Business Matters Newsletter Issue Q3 2020
JOBKEEPER 2.0 The Government announced on Tuesday an extension of the JobKeeper program to 28 March 2021 but with tighter access and reduced rates. From 28 September 2020, employers seeking to claim JobKeeper payments will need to reassess their eligibility and prove an actual decline in turnover. If your business currently receives JobKeeper, your arrangements […]
Click here to download the Winter 2020 Newsletter Profit Matters
Show Me the Money! Let’s Torque On the tip of everyone’s tongue in the SME world are 4 words – show me the money! The government stimulus package is the lifeboat that we have all been waiting for. It’s come out in bits and pieces, and as usual, the devil is in the detail. Our […]
HOMEBUILDER: WHAT IS IT AND HOW DO YOU ACCESS IT? The Government has announced grants of $25,000 to encourage people to build a new home or substantially renovate their existing home. There are a few complexities to this grant that both home builders/renovators and the building industry need to be across before jumping in and […]
Click here to download the Business Matters Newsletter Issue Q2 2020
ATO JOBKEEPER AUDIT TARGETS The JobKeeper subsidy has progressed beyond the rush for eligibility and entered its second phase: compliance. Late last month, the Australian Taxation Office (ATO) released guidance highlighting where the regulator will focus its compliance resources. The JobKeeper estimates error Hindsight is a dangerous lens as Treasury discovered last month announcing that […]
