Now more than ever, business operators should have a plan in place to manage during uncertain times. Even if your business is not directly impacted, it’s likely your customers, your supply chain, and your workforce will be to some extent. So, how do you plan for uncertainty when every assumption is subject to change? Now […]
READ MOREHas COVID-19 devalued your business?
If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business. To what degree does the pandemic impact on value? Should you discount or hold firm to pre COVID-19 performance on the basis that ‘we’re going to come out of it eventually’? Understand the […]
READ MOREChanges to JobKeeper – Current scheme updated and effective from 3rd August 2020
On Friday 14th August 2020, the Treasurer released updated JobKeeper Rules in regards to a new test date for eligible employees from 3 August 2020 onwards. Under the original JobKeeper rules, an employee needed to have been employed by the entity as at 1 March 2020. The new rules allow that the relevant test date […]
READ MOREFunding for the Arts
The funding for the arts; Arts and Cultural Recovery Package includes a range of measures to strengthen the sector’s foundations for the future, drive new creative work, employ artists and arts workers, retain our skilled and talented creatives, and importantly, ensure the activation of our venues. $11.3m to assist in offsetting revenue losses and stabilise businesses […]
READ MORE$2.5 Billion Dollar Job Training Package
The government has announced $2 billion – to be augmented by another $500 million from the states – for a skills package to boost training and job creation. The JobTrainer skills package will guarantee support for thousands of apprentices in jobs across the country by subsidising their wages to keep them employed and their training […]
READ MOREJobKeeper 2.0 – Extension of Stimulus Package
On Tuesday the 21st July, the government announced proposed changes to JobKeeper which will come into effect in September 2020. Rather than winding up the stimulus in September, it will now continue to be available to eligible businesses through to 28 March 2021, however it will be at a reduced payment rate. Eligibility: To continue […]
READ MORECOVID-19 Tax Implications
With both state and Federal governments announcing a range of stimulus packages over the last 4 months, businesses and individuals have been receiving a number of different income streams, which has led to a number of queries as to how these are treated from a tax perspective. COVID-19 Cash Flow Boost The Cash Flow Boost […]
READ MOREATO on COVID-19 fraud warpath
The ATO is on a warpath against COVID-19 fraud. They’re using the tip line, tax returns, and single touch payroll to identify “inappropriate behaviour.” We always knew that a Government scheme swiftly distributing cash during a crisis was going to come with equally swift compliance and review measures, particularly when eligibility was self-assessed. Two major […]
READ MOREThe end of JobKeeper – are you prepared?
Jobkeeper is scheduled to end on the 30th September With government support programs due to end on the 30th September, business owners (and individuals) have 10 weeks to prepare themselves to survive without government financial assistance. Some industries have been hit harder; and will take longer to recover than others. No one truly knows what […]
READ MOREHow can your SMSF borrow to purchase property?
You want to invest in property with your Superannuation Fund? As with any significant purchase, it’s likely you will have to borrow funds to purchase your property. SMSF borrowing involves obtaining a loan from a bank or a related party, and together with the SMSF’s existing funds purchasing a property, either commercial or residential. It’s […]
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