Author: Ken Burk
Lockdown top-up support payments are available in Victoria
Top up support payments are available for businesses and individuals if you are impacted by the Victorian lockdowns. The Victorian Government announced the new cash grants available, declared on 15 July 2021.
No more dodging tax: New share economy reporting rule set to begin
The individuals who participate in the share economy such as Uber, Deliveroo & Airbnb will no longer be able to escape their tax obligations as the government determines the implementation of a legislation for a new compulsory reporting regime.
The New Lifetime Director IDs
Directors will be required to register for a unique identification number that they will keep for life, much like a tax file number under a rewrite of Australia’s business registers.
2021-22 Federal Budget – The Balancing Act Budget
There’s something for everyone in the 2021-22 federal budget! Big Cash Flow for Business Investments in Assets, Reduced Company Tax Rate, Low Income Offset to Continue, Residency Rules more objective, Positive Superannuation Changes and more.
Why are some businesses returning JobKeeper?
Companies that received JobKeeper and subsequently paid dividends to shareholders and executive bonuses have come under particular scrutiny, not just by the regulators but by public opinion.
The JobMaker Hiring Credit
JobMaker is a credit available to eligible businesses and non-profit entities that create new jobs. Unlike JobKeeper, JobMaker can apply to new businesses and the business does not need to satisfy a decline in turnover test to receive payments.
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?
$3bn Victorian Business Support Package: What we know so far
Victorian Government has announced two new support packages delivering over $3 billion in “cash grants, tax relief and cashflow support.”
$2.5bn JobTrainer package: What you need to know
The Government has announced the $2.5bn JobTrainer package to retrain, upskill and open new job opportunities.
The ATO’s targets when sniffing out JobKeeper fraud
The ATO is looking carefully at businesses who have made adjustments to their circumstances in an attempt to track down businesses trying to abuse the system.
How to enrol and administer JobKeeper
The government has now finally released details on this and the process for those businesses that have employees. It consists of a number of steps to enrol for and then administer JobKeeper.
What types of insurance should a business have?
Insurance often seems like an enormous waste of money… until you need the cover.