Blog
The JobMaker Hiring Credit
What is JobMaker? JobMaker is a credit available to eligible businesses and non-profit entities that create new jobs (not if you are merely replacing someone who left). The hiring credit is available for jobs created from 7 October 2020 until 6 October 2021 and...
2020-21 Australian Federal Budget Key Measures
The Federal budget was announced on Tuesday 6th October after a delay due to the coronavirus pandemic. Treasurer Josh Frydenberg said it would focus heavily on job creation in order to pull the country out of the economic crisis it faces. With uncertainty remaining...
JobKeeper 2.0 V4 – Detailed Guide
JobKeeper 2.0 V4 JobKeeper from 28 September 2020 The first tranche of JobKeeper ended on 27 September 2020. Those needing further support will need to reassess their eligibility and prove an actual decline in turnover. To receive JobKeeper from 28 September...
Business Survival and Adaptation Package – $3 billion to support Victorian businesses
About the package The Victorian Government is investing $3 billion to help businesses impacted by ongoing restrictions and prepare for COVID Normal business. $3 billion in cash grants, tax relief and cashflow support will be delivered to Victorian businesses...
New JobKeeper test date for employees and additional flexibility
On Friday 14 August 2020, the Treasurer released the updated JobKeeper Rules dealing with eligible employees which apply from 3 August 2020 onwards. Specific rules dealing with JobKeeper 2.0 have not yet been released. New test date for employees Under the...
JobKeeper 2.0 V2
JobKeeper 2.0 V2 Employees that previously failed the JobKeeper eligibility test as they were not employed on 1 March 2020, may now be eligible for payments from 3 August 2020 if they were employed on 1 July 2020. To receive JobKeeper from 28 September...
$2.5 bn JobTrainer package: What you need to know
The Government has announced the $2.5bn JobTrainer package to retrain, upskill and open new job opportunities. JobTrainer for job seekers and school leavers An additional 340,700 training places will be created to provide no or low cost courses into...
New Super Carry Forward Rules – Maximise Your Contributions
Maximise Your Contributions If your superannuation fund balance is less than $500,000, a new rule means you are now able to carry forward any unused concessional contribution from prior years into following years. This allows you to maximise the tax benefits of...
HomeBuilder: What is it and how do you access it?
The Government has announced grants of $25,000 to encourage people to build a new home or substantially renovate their existing home. The HomeBuilder scheme targets the residential construction market by providing tax-free grants of $25,000 to eligible...
JobKeeper enrolment extends
The Australian Commissioner of Taxation has extended the time to enrol for the initial JobKeeper periods, from 30 April 2020 until 31 May 2020. If you enrol by 31 May you will still be able to claim for the fortnights in April and May, provided you meet all the...
COVID-19 Mandatory Commercial Tenancy Code – what’s involved?
The Federal Government has released a mandatory code of conduct for commercial leasing arrangements, to take effect from 3 April 2020 for the same six-month period as the JobKeeper program. Commercial tenancies include retail, offices, warehousing and industrial...
Australian Government ‘$1,500 JobKeeper’ Subsidy
$1,500 JobKeeper subsidy to keep staff employed Date From 30 March 2020 for six monthsFor employees employed at and from 1 March 2020First payments in first week of May 2020 Applies to Based on comparable periods: Employers <$1 bn that have experienced a downturn...
The Second $66.1 bn Stimulus Package: what you need to know
The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes...
The Stimulus Package: What You Need To Know
Important information about the Australian Government Stimulus Package in response to the Coronavirus outbreak.
Super Guarantee Rate is Set to Rise from July – Are You Prepared?
The superannuation guarantee statutory rate has remained at 9.5% since July 2014. However, plans have been in place for some years now, to increase the rate to 12% incrementally. In July 2021, the rate will rise to 10%. From then on, the rate will increase by 0.5%...
Why accurate leave management is so important
Managing employee leave might seem like quite a basic task for many businesses - especially smaller ones with only a few employees - and it can be tempting to take a relaxed approach. But unless you diligently track, manage, and pay leave for every single employee,...
Have you taken an Odometer Reading for FBT?
Fringe Benefit Tax (FBT) applies to benefits to your employees that are additional to their salary or wage, such as personal use of a company vehicle. Make sure you have your records in order, to take advantage of exemptions that might reduce your tax bill. The Fringe...
How to safeguard your team’s mental health
The coronavirus pandemic has forced a significant amount of change and upheaval onto you and your team – in a very short amount of time. We’ve gone from ‘business as usual’ to closed offices, working from home and the full reality of isolation during an...