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More relief for VIC businesses affected by lockdowns in FY 2020-2021

Owners and managers of businesses in Victoria should check eligibility for lockdown relief payments and take full advantage of any assistance available in the 2020-2021 financial year and beyond. Some grants and programs are available from the Victorian government ongoingly while others close around EOFY 2020-2021.

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How to claim your home office costs

How to claim your home office costs

Many more people are working from home in response to COVID-19, even the owners of some businesses. Not everyone is used to being able to claim their home office expenses, and some allowances have been changed by the ATO to make it more simple to claim. There are three methods for claiming home office costs and we’ve explained these below.

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JobKeeper payments to help businesses and support employees

JobKeeper payments to help businesses retain and support employees through this challenging time

On 30 March 2020, the Australian Government published a fact sheet to provide more information on JobKeeper payments as the third stage in stimulus and support packages to assist with COVID-19 impacts. 

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Summary of Corona Virus updates

Second stage of government stimulus package for 2020

On 22 March 2020, the Australian government announced the second stage of its economic plan to cushion the economic impact of the coronavirus and help build a bridge to recovery. Here is a summary of key points in the government stimulus package.

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Australian Government stimulus package 2020

Government stimulus package offers economic remedy for 2020

In response to the impact of Coronavirus (COVID-19) on the Australian economy, the Federal government announced a stimulus package to assist Australian businesses in general and also provide extra support for some individuals. The business benefits are not automatically applied and some action is needed to claim available benefits where eligible.

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Super Guarantee amnesty for employers

Super guarantee amnesty helps employers with unpaid SG liabilities for a strictly limited time

The super guarantee (SG) amnesty, introduced by the government on 6 March 2020, allows employers to disclose and pay any unpaid super guarantee charges (SGC) that they owe for their employees, from quarters between 1 July 1992 and 31 March 2018, with nominal interest but without risk of incurring potentially huge penalties.

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The importance of small business compliance for small business owners

The importance of wages compliance for small business owners

Media reports of wages underpayments by high-profile employers have drawn focus on the importance of wages compliance for small business owners, who may need professional guidance on payroll calculations to ensure peace-of-mind.

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Employee or contractor – where do you really stand?

One of the most commonly-asked questions in our discussions with professional consultants and small business owners is the definition of employees v. contractors from a tax law perspective.

This conversation is often had with clients who want to minimise their tax and are thinking of earning their income through a company structure (to limit their tax rate to 30%) or splitting their income via a trust to their spouse.

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