The first of the COVID-19 NSW Business Support is now available. Eligible business who have been impacted by the recent COVID-19 restrictions can apply for a grant of between $7,500 to $15,000 from today. Further support measures will be made available later in July....
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What lockdown support is available to business?
If your business has been adversely impacted by the recent lockdown in NSW, support is coming. The NSW and Federal Governments have announced a series of new measures to support business during extended lockdowns of four weeks or more: Up to $15,000 through the...
NSW Government Small Business Grant
NSW Government Small Business Grant - Financial Support for Businesses Impacted by Lockdowns The NSW government has announced small business grants up to $10,000 for businesses with a decrease in revenue during lockdown. Payments are available to any businesses...
Lockdown Support Available
If you can’t work because you or someone in your household is impacted by COVID-19, there is support available, but it comes with fairly strict eligibility criteria. There are two payments accessible to individuals: The COVID -19 Disaster Payment; and the Pandemic...
Changes to Single Touch Payroll (STP) Closely held (related) payees
From 1 July 2021 the exemption on small employers reporting amounts paid to closely held payees through Single Touch Payroll (STP) lifts. Small employers (19 or fewer payees) were previously exempt from reporting amounts paid to closely held payees through Single...
Superannuation Guarantee to Increase from 1 July 2021
On 1 July 2021, the Superannuation Guarantee (SG) rate will rise from 9.5% to 10% - the first rise since 2014. It will then steadily increase each year until it reaches 12% on 1 July 2025. The 0.5% increase does not mean that everyone gets an automatic pay increase,...
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...
New $1,500 Fees and Charges Rebate for NSW Small Businesses
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...
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...
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