What happens to your super when you die?
Superannuation is not like other assets as it is held in trust by the trustee of the superannuation fund. When you die, it does not automatically form part of your estate but instead, is paid…
Lockdown Support for Victorian Businesses
What lockdown support is available to Victorian businesses? Support for my business A new series of grants have been announced to support Victorian business. Here’s what we know so far: $5,000 Business Continuity Fund $5,000…
Important Tax Changes: 1 July 2021
Super guarantee rate increase to 10% 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…
The Balancing Act: Federal Budget 2021-22
On Tuesday night Federal Treasurer Josh Frydenberg handed down the Budget 2021-22, which aims to build on the economic recovery of late 2020. We have highlighted the key initiatives below and prepared a Federal Budget 2021-22…
Rebranding of Audit Business
We would like to inform you of some important upcoming changes at PPT. Due to recent changes to Auditor Independence requirements, particularly in relation to self-managed superannuation fund audits, PPT Professional and PPT Audit, led…
Business Support Packages: Circuit Breaker Action
Following the recent Circuit Breaker Action, the State Government announced a specific business support package to provide financial support for eligible businesses. The $143 million package includes four key initiatives including: Business Costs Assistance Program:…
Claiming Refunds for Tax Losses
If your company has made a loss, you may be able to claim a tax refund for tax previously paid on profits. In the 2020-21 Federal Budget, the Government announced that businesses with turnover under…
JobMaker Explained
We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme passed Parliament in mid-November without changes. What is JobMaker? JobMaker is a…
$2.5bn JobTrainer Package
The Government has announced the $2.5bn JobTrainer package to retrain, upskill and open new job opportunities. An additional 340,700 training places will be created to provide no or low cost courses into sectors with job…
Job Keeper 2.0: The New Requirements
Between April to May 2020, JobKeeper was taken up by 920,000 organisations and around 3.5 million individuals – 30% of pre-Coronavirus private sector employment. On 21 July 2020, the Government announced an extension of the…
