Insolvencies rise by 61% in February
External administrations increased by 61 per cent over the last month, stirring fears that more businesses will need to close their doors once JobKeeper expires at the end of the month.
Economic Update
Covid-19 developments continued to dominate attention. There were spikes in the number of new infections in both Australia and overseas, suggesting an economic recovery may be delayed.
Melbourne Lockdown Benefits
Melbourne has gone into Stage 4 Lockdown making it even tougher for business owners to survive, but there are still a few things you can do to help your business.
Funding for the arts: what is the Creative Economy Support Package?
The Government announced a $250 million package on 25 June 2020 to support artists and organisations following the disruptions caused by COVID-19.
$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.
JobKeeper 2.0 – what you need to know
The JobKeeper scheme was originally going to run until 27 September 2020. JobKeeper has now been extended past this date, however the eligibility requirements for JobKeeper 2.0 are a little different.
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
Minimum wage increases by 1.75%
The Fair Work Commission has announced an 1.75% increase to minimum wage starting from the first full pay period after 1 July 2020.
PAYG Income Tax Withholding Variation
Many people like to get a big tax refund at year end, but why wait for your refund? Why not get it now? The ATO allows you to do just that.
The risks early lodgers face
Tax time is near, but the ATO is urging individuals to take extra time when preparing their tax return to minimise their risk of making a mistake.
HomeBuilder Grant supports new house builds and renovations
The HomeBuilder scheme is a time-limited, tax free cash grant intended to support the residential construction industry during the COVID-19 pandemic, but it does come with an extensive eligibility criteria.
What’s changing on 1 July 2020?
With all the changes occurring in the last year, it’s difficult to keep track. Thankfully we have compiled a list of a few things we can confirm to occur on 1 July 2020.
Company Tax Rate Reduction – 1 July 2020
The company tax rate is set to reduce to 26% for small and medium business from 1 July 2020 despite the current economic environment. The