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Unwinding JobSaver

The NSW JobSaver, which provides payments of up to 40% of weekly payroll, is jointly funded by the...
Australian Federal Budget 2021-22

Australian Federal Budget 2021-22

The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term. Key initiatives include: Extension of temporary full expensing and loss-carry back providing immediate...

Most Effective Tax Planning Strategies for Businesses

OUR TOP 10 MOST EFFECTIVE BUSINESS TAX PLANNING STRATEGIES The end of the 2020/21 financial year is almost here and now is the time to review what strategies you can use to most effectively minimise your businesses tax. After the year that was many businesses are...

Superannuation concessional contributions to increase

Superannuation concessional contributions to increase

Good News for those looking to get more into their Superannuation Fund With the announcement of the Average Weekly Ordinary Time Earnings (AWOTE) figure for the December 2020 quarter, superannuation contribution caps are set to increase from 1 July 2021 for the first...

The Future of JobKeeper

The Future of JobKeeper

On 21 July 2020, the Government announced an extension of the JobKeeper program to 28 March 2021 but with tighter access and reduced rates. From 28 September 2020, employers seeking to claim JobKeeper payments will need to reassess their eligibility and prove an...

Payment Summaries and STP

Payment Summaries and STP

The introduction of Single Touch Payroll (STP) has changed the year end processes for both employers and employees. Payment Summaries (or Group Certificates) are now a thing of the past, with income statements replacing these. Here’s what it means for both employers...

$1,500 JobKeeper subsidy to keep staff employed

$1,500 JobKeeper subsidy to keep staff employed

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...

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