March 2020

A subsidy of $1,500 per fortnight per employee, administered by the ATO, will be paid to businesses that have experienced a downturn of more than 30% (50% for businesses over $1bn). To be a part of the subsidy, employers will need to ensure that their employees receive at least $1,500 per fortnight (before tax). See […]

A subsidy of $1,500 per fortnight per employee, administered by the ATO, will be paid to businesses that have experienced a downturn of more than 30% (50% for businesses over $1bn). To be a part of the subsidy, employers will need to ensure that their employees receive at least $1,500 per fortnight (before tax). See

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 corporate insolvency laws. The stimulus measures are now legislated. Parliament passed these through last night (Monday 23

Empty restaurants and retail stores were one of the first signs of the devastating impact the coronavirus on Australian businesses. Within a few months, the virus, now called COVID-19, has gone from being a largely unknown medical condition to one that threatens to impair Australian and global economic growth. We explore the impact on business

The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus. The yet to be legislated four part package focuses on business investment, sustaining employers and driving cash into the economy. For business Business investment – Increase and extension of the instant asset write-off

The famous investor Warren Buffet once said, “it is only once the tide goes out that we see who has been swimming naked”. Well, the tide has gone out in global markets and some investors have been left well and truly “exposed”. Events over the last month reveal that when fear takes over, and there

21 March Lodge and pay February 2020 monthly business activity statement. 31 March Lodge tax return for companies and super funds with total income of more than $2 million in the latest year lodged (excluding large/medium taxpayers), unless the return was due earlier. Payment for companies and super funds in this category is also due by

The long awaited superannuation guarantee amnesty passed Parliament late last month. Employers who have fallen behind with their SG payments now have 6 months to ‘self-correct’ under the amnesty. But, with the amnesty comes additional penalties if employers fail to take advantage of this one-off opportunity. Also of interest is a Bill before Parliament that

Despite the number of new Coronavirus cases slowing in China, markets have been spooked by the spike in the number of cases being announced in other regions such as Iran, Korea and Italy. As investors consider the potential flow-on effects of the Coronavirus on markets, many have taken a “risk-off” approach to investing by turning

The Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019 has now been passed through both houses of Parliament and is awaiting royal assent.  The Amnesty will end six (6) months from the date it receives royal assent. What this means for you as an employer is that you have six months to disclose any historical