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:…
Are you thinking about starting a new business? Then you will need a business name. But what’s in a business name and how do you get it right? We’ve compiled a list of tips to…
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…
Stimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses with turnover under $5bn* to immediately deduct the cost of new depreciable assets and the…
The 2020-21 Federal Budget is a road to recovery paved with cash. Key initiatives include: Personal income tax cuts from 1 July 2020 A $4 billion ‘JobMaker’ Hiring Credit to encourage businesses to take on…
The Victorian Government has announced two new support packages delivering over $3 billion in cash grants, tax relief and cashflow support. Some of the $3 billion appear to be in the form of deferrals (not…
The coronavirus (COVID-19) presents a significant threat to our health but is now also impacting businesses across the world. The containment of the pandemic is already resulting in dramatic fluctuations in supply and demand, labour…
The countdown to Christmas is now on and we’re in the midst of the headlong rush to get everything done and capitalise on any remaining opportunities before the Christmas lull. Busy period or not, Christmas…
Employees with multiple employers can now opt-out of superannuation guarantee from all but one employer. Employers are required to pay 9.5% superannuation guarantee for all eligible employees. But what happens if you are an employee…
How employers are being caught out by the timing of superannuation guarantee payments. Employers can generally only claim a deduction for superannuation contributions in the income year in which the contribution is made. Super contributions…
