News

Below are recent Blog posts.

JobMaker Hiring Credit – Rules Released

JobMaker Hiring Credit – Rules Released

The JobMaker Hiring Credit rules have been finalised and applications are now open. In brief Administered through STP, JobMaker provides a payment to employers of $200 per week for eligible new employees aged between 16 and 29, and $100 per week for eligible employees...

December 2020

December 2020

Extended December JobKeeper deadlines The ATO has extended the JobKeeper monthly business declaration deadline for the month of December until 28 January 2021 (from 14 Jan 2021).  This applies to the JobKeeper fortnights ending on 6 December 2020 and 20 December 2020....

November 2020

November 2020

JobMaker Hiring Credits: What We Know So Far What is JobMaker? JobMaker is a credit available to eligible businesses for hiring additional employees (not if you are merely replacing someone who left). The hiring credit is available for jobs created from 7 October 2020...

Budget 2020-21: Road to Recovery

Budget 2020-21: 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...

October 2020

October 2020

JobKeeper: The next steps The first tranche of JobKeeper ended on 27 September 2020. We look at the issues for those seeking to qualify for the second tranche of JobKeeper and for those no longer eligible. Wrapping up JobKeeper If your business is no longer eligible...

September 2020 news

September 2020 news

Has 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. But, to what degree does the pandemic impact on value? Should you discount or hold firm to pre...

August 2020

August 2020

  What now? Where to get help if you need it   JobKeeper 3.0 On 21 July 2020, the Government announced an extension to its JobKeeper scheme which we wrote about in our previous post - JobKeeper 2.0. As we started to grapple with the new rules and criteria,...

JobKeeper 2.0, JobSeeker & other support

JobKeeper 2.0, JobSeeker & other support

  “We will do what is practically needed” Prime Minister Scott Morrison   JobKeeper 2.0 The second tranche of the JobKeeper scheme changes the eligibility test for employers and the method and amount paid to employees.  If your business currently receives...

July 2020

July 2020

The ATO on COVID-19 fraud warpath   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 Australian...

EOFY information

EOFY information

Important End of Financial Year information   2019-20 has been an unusual year. This year, more than ever, we want to ensure that we help you reduce your tax exposure and minimise the risk of an audit by the regulators. This end of financial year update outlines...