COVID-19: Updates
More Support For Melbourne Businesses
Yesterday, the Victorian Government announced a new round of support for small and medium businesses most affected by the extension of public health restrictions in Melbourne. The new jointly funded Commonwealth and Victorian Government package includes automatic payments for previous recipients of the Business Costs Assistance Program Round Two and the Licensed Hospitality Venue Fund […]
Support for my business
Top-up support The Victorian Government has announced new cash grants for businesses impacted by the lockdown declared on 15 July 2021. The grants will be paid to businesses that successfully received a grant from the Business Costs Assistance Program Round Two or the Licensed Hospitality Venue Fund 2021 (including regional businesses) automatically in their accounts from mid-July Top-up amount […]
Application for Superannuation Guarantee Amnesty closes 7 Sept 2020
Introduced by the Australian Government on 6 March 2020, the superannuation guarantee amnesty application will be ending soon – on 7 September 2020. If you are an employer and wish to participate, you need to apply now through the ATO. This one-off amnesty allows employers to disclose and pay previously unpaid super guarantee charge […]
Economic Update and JobKeeper 2.0: What you need to know?
On 21 July 2020, the Government has announced the future of JobKeeper after reviewing its jobs during this COVID-19 situation. The two main important updates are: All the current JobKeeper schemes will remain until 27 September 2020, and JobKeeper payments will be extended by a further six months to 28 March 2021 with an […]
ATO’s ‘shortcut method’ for employees working from home due to COVID-19
With the ongoing lockdowns put in place due to COVID-19, working from home has become a commonplace. Tax returns this year is therefore anticipated to be a little different than we are accustomed to. Employees affected by the lockdowns can access ATO’s temporary ‘shortcut method’ for claiming expenses until September 30, 2020. With […]
JobKeeper Overview
Under the JobKeeper Payment, businesses impacted by the coronavirus will be able to access a subsidy to continue paying their employees. The Government will provide a fortnightly payment of $1,500 per eligible employee until 27 September 2020. Now the legislation and accompanying Treasurer’s rules are available, we have clearer guidance as to key aspects of […]
The Second $66.1 bn Stimulus Package: What You Need To Know
The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws. The stimulus measures are not yet legislated. Parliament will reconvene on Monday 23 March. […]
The Stimulus Package: What You Need To Know
The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus. The yet to be legislated four part package focuses on business investment, sustaining employers and driving cash into the economy. For business Business investment Increase and extension of the instant asset write-off Accelerated […]