Wednesday, October 7, 2020
PERSONAL TAXATION Personal tax cuts brought forward to 1 July 2020 In the Budget, the Government announced that it will bring forward to 1 July 2020 the personal tax cuts (Stage 2) that were previously legislated in 2018 to commence from 1 July 2022. The Stage 3 tax changes remain unchanged and commence from 1 July 2024, as previously legislated: Stage 2 tax […]
Read More >Monday, October 5, 2020
COVID-19 and FBT: updated ATO advice The ATO has updated its COVID-19 and fringe benefits tax (FBT) advice, providing a useful outline of some issues that may arise due to an employer’s response to COVID-19. Tip: Although the following summary deals with FBT specifically, it is worth thinking through the related income tax consequences. Contact […]
Read More >Thursday, August 6, 2020
Federal Government releases economic update On 23 July 2020, Federal Treasurer Josh Frydenberg released the Economic and Fiscal Update July 2020, outlining the key COVID-19 policy response measures announced by the Government since March 2020. The Treasurer said the Government has provided economic support for workers, households and businesses of around $289 billion (14.6% of gross […]
Read More >Thursday, June 4, 2020
Do you or your business need help? If you or your business need help with your financial arrangements during this difficult time, we can help you to work out which of the many coronavirus (COVID-19) related payments, concessions and arrangements apply to you, and how you can best make use of them. Contact us today. […]
Read More >Tuesday, May 5, 2020
Do you or your business need help? If you or your business need help with your financial arrangements during this difficult time, we can help you to work out which of the many coronavirus (COVID-19) related payments, concessions and arrangements apply to you, and how you can best make use of them. Contact us today. […]
Read More >Wednesday, April 15, 2020
Jobkeeper Legislation On 7 April, 2020 Federal Parliament passed the following bills to give effect to the Jobkeeper Payment wage subsidy – Coronavirus Economic Response Package (Payments and Benefits) Bill 2020 Coronavirus Economic Response Package Omnibus (Measures No 2) Bill 2020 Appropriation Bill (No 5) 2019-2020 Appropriation Bill (No 6) 2019-2020 The Exposure Draft […]
Read More >Thursday, April 9, 2020
JobKeeper Payment details still not available Yesterday, the Coronavirus Economic Response Package (Payments and Benefits) Bill 2020 was introduced and passed both Houses of Parliament. Unfortunately, it did not contain the finer detail of how the JobKeeper Payment Scheme (‘the Scheme’) will operate. What it did was set up a framework including giving the […]
Read More >Tuesday, March 31, 2020
Do you or your business need help? If you or your business need help with your financial arrangements during this difficult time, we can help you to work out which of the many coronavirus (COVID-19) related payments, concessions and arrangements apply to you, and how you can best make use of them. Contact us today. […]
Read More >Thursday, March 26, 2020
In addition to recent announcements by the Government concerning the Coronavirus and the health and safety of our community we wish to assure you that we are committed to supporting and working with our clients, staff, and their families during these testing times. We will be facing new and different changes on a daily basis […]
Read More >Friday, March 6, 2020
loopholes closed The concept of a superannuation guarantee – the legal requirement for your employer to contribute 9.5% of your salary into a nominated super account – should be familiar to everyone, as it makes up the bulk of most people’s future retirement income. You may also salary-sacrifice amounts of your salary to put extra […]
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