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Business Costs Assistance Program
The Victorian Government has announced a package to support eligible small businesses, including sole traders, in highly impacted sectors impacted by the circuit breaker action in Victoria to help recover costs incurred as a result of the lockdown. Small businesses in...
Payroll Tax
The Coronavirus has presented a fast evolving and significant challenge to global health systems and economies. The Government has acted decisively in the national interest to support households and businesses and address the significant economic consequences of the...
Sole Trader Support Fund
The Victorian Government’s Sole Trader Support Fund helps eligible non-employing businesses in sectors that continue to be affected by coronavirus (COVID-19) restrictions. The roadmaps show that many sectors will remain closed, restricted or heavily restricted as...
COVID-19 Land Tax Relief
Various relief measures and initiatives have been introduced by the Government over the last 6 months in response to the COVID-19 pandemic. One of these initiatives has been to introduce land tax relief by way of deductions, deferrals and in some cases waivers for...
Jobkeeper 2.1
The Government’s JobKeeper Payment will help keep more Australians in jobs and support businesses affected by the significant economic impact of the Coronavirus. On 21 July 2020, the Government announced an extension of the JobKeeper Payment until 28 March 2021,...
Business Support Fund – Round 3
On September 13 the Victorian Government announced the Business Resilience Package - $3billion in cash grants, tax relief and cash flow support that will be delivered to Victorian Businesses most affected by the COVID-19 restrictions. The package is aimed at helping...
Vic Business Support Fund Expanded
The Victorian Government has announced that Stage 3 ‘Stay at Home’ restrictions will be in reinstated across metropolitan Melbourne and Mitchell Shire with restrictions in place for at least the next six weeks. Businesses within metropolitan Melbourne and Mitchell...
Jobkeeper Business Participants
Following its release of step-by-step instructions for business owners looking to apply for JobKeeper Payment, the Tax Office has now published guidance for sole traders and businesses that operate in the form of a company, trust or partnership. Sole traders and some...
The Shortcut Method – Working from Home
Working from home? You’re now eligible for a new 80 cents per hour tax shortcut. The ATO has announced new rules which will make it easier for Australians to work from home during the Coronavirus lockdown. The new “Shortcut Method” allows people to claim 80 cents per...
JobKeeper Payment – What Comes Next And What You Need To Do
With the JobKeeper Payment legislation being passed through Parliament last Thursday the ATO has now provided more details on how the process will work. For background information on the JobKeeper Payment please see the Treasury JobKeeper Payment summary The JobKeeper...
JobKeeper Payment – What Comes Next And What You Need To Do
With the JobKeeper Payment legislation being passed through Parliament last Thursday the ATO has now provided more details on how the process will work. For background information on the JobKeeper Payment please see the Treasury JobKeeper Payment summary The JobKeeper...
Making your JobKeeper Payments Through Xero Payroll
With the JobKeeper Payment being approved by Parliament last Thursday and the first fortnightly pay period already finished as of the 12 April, if you are an employer you do need to be getting organised. Please see our recent communication regarding how to register...
Providing Support For Retirees
We want to make sure you are aware of the changes in the minimum pension rules recently introduced because of COVID19. Providing support for retirees To assist retirees to manage the impact of volatility in financial markets on their retirement savings the Government...
Support For Business – Government Initiatives
The “Backing business investment” initiative From 12 March 2020, businesses purchasing assets costing more than $150,000 before 30 June 2021 will be able to write off 50% in the year of purchase with the balance subject to normal rules. Those businesses using the...
Boosting Cash Flow for Employers
Provides up to $100,000 back to small and medium-sized businesses, with a minimum payment of $20,000 for eligible businesses. The payments will provide cash flow support to businesses with a turnover of less than $50 million and not-for-profit entities that employ...
Cash Flow Assistance For Businesses
We have been receiving a lot of enquiries from clients about the Government assistance being offered to small business and how these can be accessed. While the details will be finalised by Parliament in the coming week we have included below a summary of those areas...
Government Announces Increased Tax Benefits in Response to the Coronavirus
The Government has announced its economic response to the Coronavirus in the form of a $17.6 billion economic stimulus package. The package has been marketed as a measure to protect the economy by maintaining confidence, supporting investment and keeping people in...
Individual Health Has a Place in Your Estate Planning
When estate planning, most people focus what will happen to family and assets after they pass, often neglecting to consider what would happen if they were to become ill or incapacitated. Falling ill can be a very stressful and traumatic time for you and your family,...
Independent Associate, Contractor or Employee? – How To Engage Doctors and Health Professionals.
Background – what’s the issue? Engaging employees can be frustrating for all types of businesses and industries. To engage an employee, it often involves most of the following steps (amongst others): interpreting employment awards and government legislation; tracking...
Christmas – Writing Off Employee Gifts and Parties
As the silly season is upon us once again it is probably appropriate to provide some reminders as to the tax consequences of making gifts to and holding Christmas parties for your employees. On Premise Parties If the party is held on business premises, on a normal...
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