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.

Taxation, Financial Accounting, Corporate SecretarialJPR BUSINESS GROUP1 October 2020jobkeeper payment, jobkeeper, JobKeeper, Jobkeeper 2.0, ATO, Tax, business, small business, employment, sole trader, covid-19, coronavirus

Preventing a tsunami of insolvencies

The Government has stepped in to prevent a wave of insolvencies when the COVID-19 support measures run their course in December 2020. Temporary insolvency and bankruptcy protections are in place until 31 December 2020 to enable businesses to trade through the pandemic

Financial Accounting, TaxationJPR BUSINESS GROUP28 September 2020small business, sole trader, business, business assistance, ATO, australian tax office, covid-19, coronavirus, Taxation, tax

Forecasting during a pandemic

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?

Business Development, Corporate Secretarial, Financial AccountingJPR BUSINESS GROUP2 September 2020business, covid-19, business forecasting

Your questions answered: State Government Grants

My business received a grant from the State Government. Do I pay tax on it?

Financial Accounting, Corporate SecretarialJPR BUSINESS GROUP2 September 2020state government grant, business, tax

JobKeeper Alert

With the employee test date for JobKeeper moved to 1 July 2020, some additional employees might have become eligible for JobKeeper. The August JobKeeper monthly business declaration is due by 14 September and is different to the previous form as it covers three JobKeeper fortnights.

Financial AccountingJPR BUSINESS GROUP2 September 2020jobkeeper, Jobkeeper 2.0, employment law, covid-19

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 COVID-19 performance on the basis that ‘we’re going to come out of it eventually’?

Corporate Secretarial, Financial Accounting, New BusinessJPR BUSINESS GROUP1 September 2020business, covid-19, pandemic, coronavirus

What now? Where to get help if you need it

The Government has announced further changes to the JobKeeper scheme. The good news is that employees that missed out on JobKeeper because they were not employed on 1 March 2020 might now be eligible

Corporate Secretarial, Financial Accounting, New Business, TaxationJPR BUSINESS GROUP13 August 2020jobkeeper payment, jobkeeper, coronavirus, covid-19, business, business assistance

JobKeeper changes: What's new in JobKeeper 2.0

On 21 July 2020, the Government announced that due to the ongoing COVID-19 crisis, the JobKeeper Payment Scheme will be extended by six months until 28 March 2021, from the original end date of 27 September 2020. The period of the extended scheme comprises 13 fortnights - ie. the proposed extension doubles the length of the original scheme.

Taxation, Financial Accounting, Business DevelopmentJPR BUSINESS GROUP24 July 2020coronavirus, covid-19, tax, jobkeeper, jobkeeper payment, government assistance

Increased flexibility for Parental Leave Pay for self-employed

From 1 July 2020, parents accessing the Government’s parental leave pay (PPL) scheme will have greater flexibility and options.

Targeting the self-employed and small business owners, the changes introduce a new flexible paid parental leave pay period of 30 days.

Corporate Secretarial, Financial Accounting, TaxationJPR BUSINESS GROUP8 July 2020self employment, employment law, leave, parental leave

JobKeeper and termination payments

An employment termination payments (ETP) is a lump sum payment made to an employee when their job is terminated. ETP’s are generally made up of unused sick leave or unused rostered days off, payment in lieu of leave, genuine redundancy payments, etc.

Taxation, Financial Accounting, Corporate SecretarialJPR BUSINESS GROUP3 July 2020covid-19, coronavirus, jobkeeper, employment law