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...
The NSW Government has introduced a new initiative for small businesses to assist in recovery from the impacts of COVID-19 and encourage growth by providing a rebate on eligible NSW and local government fees and charges. Eligible businesses only need to apply for the...
On the 7th of August 2020, the Government announced adjustments to JobKeeper extension tests for both business and employee eligibility – now referred to as JobKeeper 3.0. Both of these eligibility requirements are being relaxed to help increase the amount of...
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...
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...
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...
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