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2 02, 2021

February Newsletter Published 02.02.2021

2021-02-02T17:11:53+11:00

February Newsletter Published 02.02.2021

Our February Newsletter was sent out today – Did you receive yours?

February 2021 Issue Covered

  • JOBMAKER HIRING CREDIT: What you need to know
    – EMPLOYER ELIGIBILITY
    – JOBMAKER PERIODS
    – ADDITIONAL CRITERIA
  • SINGLE TOUCH PAYROLL: When your reporting can cease
    – NO LONGER EMPLOYING STAFF
    – CLOSING A BUSINESS
    – CHANGES TO YOUR BUSINESS STRUCTURE
    – NO PAYMENTS TO EMPLOYEES FOR THE REST OF THE YEAR
    – PAUSING YOUR BUSINESS DUE TO COVID-19
    – ELIGIBLE EMPLOYEES
    – PARTICIPATION […]
February Newsletter Published 02.02.20212021-02-02T17:11:53+11:00
8 12, 2020

December Newsletter Published 08.12.2020

2020-12-08T14:25:28+11:00

December Newsletter Published 08.12.2020

Our December Newsletter was sent out today – Did you receive yours?

December 2020 Issue Covered

  • A STRATEGY OPENS
  • THE MECHANISM
  • Calling time out on your business? Some essentials you’ll need to know
    – STEP 1: LODGEMENT AND PAYMENT
    – STEP 2: REFUNDS
    – STEP 3: CANCEL PAY-AS-YOU-GO (PAYG) WITHHOLDING REGISTRATIONS
    – STEP 4: CANCEL THE ABN
    – STEP 5: RECORD KEEPING
  • Small business CGT concessions: Goal posts moved on vacant land and active […]
December Newsletter Published 08.12.20202020-12-08T14:25:28+11:00
11 11, 2020

November Newsletter Published 11.11.2020

2020-11-05T15:29:13+11:00

November Newsletter Published 11.11.2020

Our November Newsletter was sent out today – Did you receive yours?

November 2020 Issue Covered

  • What the “full expensing” write-off deduction means for business
    – Some existing conditions remain
    – Meeting the required conditions
    – Anti-avoidance provision
  • Both tax and SMSF audits on still on ATO’s radar, but some leniency given
    – No penalties for asset valuations if insufficient evidence
    – Other considerations
  • ATO’s cyber safety checklist
  • The investment option that can hide […]
November Newsletter Published 11.11.20202020-11-05T15:29:13+11:00
7 10, 2020

Federal Budget 2020 – 2021

2020-10-07T17:07:41+11:00

Federal Budget 2020 – 2021

Our Federal Budget 2020 – 2021 Newsletter was sent out today – Did you receive yours?

Federal Budget 2020 – 2021 Issue Covered

  • BUSINESS
    – FBT exemption to support retraining and reskilling
    – Reducing the FBT compliance burden of record keeping
    – Individual tax rates for residents
    – Increase to small business entity turnover threshold
  • R&D TAX INCENTIVE
    – SMEs: ATO confirms JobKeeper payments do not contribute to aggregated turnover
  • TEMPORARY “FULL EXPENSING” […]
Federal Budget 2020 – 20212020-10-07T17:07:41+11:00
1 10, 2020

October Newsletter Published 01.10.2020

2020-10-01T17:08:13+10:00

October Newsletter Published 01.10.2020

Our October Newsletter was sent out today – Did you receive yours?

October 2020 Issue Covered

  • JobKeeper rules, conditions and payment rates have changed
    – JobKeeper is a two-tiered payment arrangement
  • New data matching programs initiated by the Federal Government
    – SMEs: ATO confirms JobKeeper payments do not contribute to aggregated turnover
  • Fears of Div 7A danger from COVID-relaxed loan repayments unfounded
  • Electronic execution of documents during COVID-19
    – CONTRACTS
    – DEEDS, STATUTORY […]
October Newsletter Published 01.10.20202020-10-01T17:08:13+10:00
24 09, 2020

JobKeeper Payment Scheme Extension

2020-09-24T19:00:37+10:00

JobKeeper Payment Scheme Extension

The JobKeeper Payment scheme has been extended until 28 March 2021, see https://www.ato.gov.au/General/JobKeeper-Payment/JobKeeper-extension-announcement/

The first phase of JobKeeper was designed to get money out to businesses as quickly as possible. An unintended consequence of this was some employees being paid more on JobKeeper than they had been before COVID. Businesses were also able to access JobKeeper if they satisfied the turnover test at any point during COVID, however going forward, […]

JobKeeper Payment Scheme Extension2020-09-24T19:00:37+10:00
7 04, 2020

Superannuation Changes 7 April 2020

2020-04-07T15:28:57+10:00

Superannuation Changes 7 April 2020

Superannuation Changes 7 April 2020 was sent out today – Did you receive yours?

Superannuation Changes 7th April 2020 Issue Covered

  • Reduction to Minimum Super Pensions by 50%
  • Access to Superannuation up to $10,000 Before and After 1 July 2020
    Eligibility
  • Re Contribution Strategies
  • Temporary Reduction in Rent for SMSF Property
  • Investment Strategy Changes Due to Covid-19
  • In-house Assets

DON’T MISS OUT ON VITAL INFORMATION
FOR YOUR BUSINESS / […]

Superannuation Changes 7 April 20202020-04-07T15:28:57+10:00
3 04, 2020

April Newsletter Published 03.04.2020

2020-04-03T09:12:14+11:00

April Newsletter Published 03.04.2020

Our April Newsletter was sent out today – Did you receive yours?

April 2020 Issue Covered

  • 17 Key points: The JobKeeper package – Jobkeeper package completely explained, point by point.
  • Coronavirus Stimulus Package – Topics included;
    INSTANT ASSET WRITE-OFF
    ACCELERATED DEPRECIATION
    BOOSTING CASH FLOW FOR EMPLOYERS
    THE ANTI-AVOIDANCE PROVISION
    SUPERANNUATION CONTRIBUTIONS
    SGC AMNESTY
    STIMULUS PAYMENTS TO HOUSEHOLDS
    ADDITIONAL SUPPLEMENT FOR INCOME SUPPORT RECIPIENTS
    SUPERANNUATION DRAWDOWNS
    EARLY RELEASE OF SUPERANNUATION
  • e-bikes, FBT and Salary Sacrificing
  • Employers get an Amnesty […]
April Newsletter Published 03.04.20202020-04-03T09:12:14+11:00
31 03, 2020

JobKeeper Package for Employers/Employees

2020-04-01T06:49:06+11:00

JobKeeper Package for Employers/Employees

Dear Clients

JobKeeper Package for Employers/Employees (FACT Sheets Below)

The Australian Government yesterday released a further measure to support businesses and employees.

This package will provide a flat minimum payment of $1,500 per employee per fortnight over the next 6 months to businesses affected by coronavirus COVID-19. This amount is equivalent to 70% of the median wage and represents 100% of the median wage for those industries most affected, such as tourism, hospitality and retail.

Employee […]

JobKeeper Package for Employers/Employees2020-04-01T06:49:06+11:00
28 03, 2020

Business Victoria Economic Survival Package Fact Sheet

2020-04-01T06:53:19+11:00

Business Victoria Economic Survival Package Fact Sheet

We would encourage you to register with Business Victoria who have a Business Support Fund available to assist businesses from the hardest hit sectors.

This may assist with cash flow issues.

You can do that here: https://www.business.vic.gov.au/support-for-your-business/grants-and-assistance/economic-survival-and-jobs-package

PDF Version

Business Victoria Economic Survival Package Fact Sheet2020-04-01T06:53:19+11:00
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