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 Taxation Office (ATO) initiatives are searching out fraud and schemes designed to take advantage of the Government’s Coronavirus Economic Response Package.
Read MoreDespite the current economic environment, the company tax rate will reduce to 26% for small and medium businesses from 1 July 2020.
Read MoreNews headlines recently stated that casual workers have won the right to paid leave following a decision in the Federal Court. As usual, the devil is in the detail.
At present, there is no global change granting Australian casual workers paid leave. The case however, highlights the long running problem of determining over time, who is a permanent staff member and entitled to paid leave and other benefits, and who is a casual worker entitled to a casual loading.
Read MoreThe JobKeeper subsidy has progressed beyond the rush for eligibility and entered its second phase: compliance. Late last month, the Australian Taxation Office (ATO) released guidance highlighting where the regulator will focus its compliance resources.
Read MoreAs we approach the end of the financial year, we thought we'd update you on what's changing from 1 July 2020
Read MoreThe Victorian Government has released the Covid-19 (Coronavirus) Business Support and Financial Assistance Finder online.
Read MoreWe’ve designed this guide as a quick reference to the COVID-19 related tax and financial support that might be available to you.
The stimulus and support packages help, but there are gaps and they will not return most adversely impacted businesses or people back to their pre-pandemic position. It will all take time.
Read MoreOn Monday 30th March the Federal Government announced that it will invest $130 billion dollars into trying to support Australian workers with the new Jobkeeper Payment.
Read MoreWith the start of the Fringe Benefits Tax year looming on 1 April, businesses are being urged to review their Fringe Benefits Tax (FBT) position.
Read MoreComplex award and enterprise agreements can complicate payroll obligations, in terms of both regular salary and wages and the ongoing need to pay employee superannuation. On top of that, from 1 March 2020, changes commence for annualised wage arrangements that will increase the compliance burden on some businesses.
Read More
