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jobmaker information

JobMaker Hiring Credits: What We Know So Far

JobMaker has officially passed Parliament. Here is what has been announced so far: What is JobMaker? JobMaker is a credit available to eligible businesses for hiring additional employees (not if you are merely replacing someone who…
business tax loss

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 $5bn* will be able to offset any…
invest in your business
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Tax deductions for investing in your business

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…
FBT rules working from home

FBT changes under COVID: What are the rules?

The COVID-19 pandemic is raising some interesting questions for small business employers in relation to their Fringe Benefit Tax (FBT) liabilities. With many employees working from home, common employee benefits are often not being supplied,…

Opportunities amid the Covid-19 disruption

COVID-19 is resulting in significant disruption to well-established business paradigms, impacting businesses, sectors and stocks across the board. However as Albert Einstein once said “in the middle of difficulty lies opportunity”. That…

Preventing a Tsunami of Insolvencies

The Government has stepped in to prevent a wave of insolvencies when the COVID-19 support measures run their course in December 2020. Temporary insolvency and bankruptcy protections are in place until 31 December 2020 to enable businesses to…
JobKeeper 2.0

JobKeeper from 28th September

The first tranche of JobKeeper ended on 27 September 2020. Those needing further support will need to reassess their eligibility and prove an actual decline in turnover.  To receive JobKeeper from 28 September 2020, eligible employers…
3rd round of business support fund grants

3rd round of Victorian grants

The Victorian Government has announced a third round of the Business Support Fund to provide direct financial support to businesses impacted by restrictions in Victoria. The amount of the grant is between $10,000 and $20,000 depending on the…
Business Survival & Adaptation Package

More support for Victorian Businesses

Over 2 days, the Victorian Government has announced two new support packages delivering over $3 billion in “cash grants, tax relief and cashflow support." There are almost no details on the packages as yet – just the announcements. We…
covid devalued your business?

Has COVID-19 devalued your business?

If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business. But, to what degree does the pandemic impact on value? Should you discount or hold firm to pre COVID-19…
Forecasting during a pandemic

Forecasting during a pandemic

Now, more than ever, business operators should have a plan in place to manage during uncertain times. Even if your business is not directly impacted, it’s likely your customers, your supply chain, and your workforce will be to some extent. So,…
Covid support states and territories

Covid-19 support - State based

In addition to general waivers, reductions or rebates on some Government licensing and fees, each State and Territory has some form of support accessible to certain businesses impacted by COVID-19. Australian Capital Territory Support Description Closes Rate…
JobKeeper 2.0

JobKeeper 2.0

The first tranche of JobKeeper ends on 27 September 2020. Those needing further support will need to reassess their eligibility and prove an actual decline in turnover. To receive JobKeeper from 28 September 2020, eligible employers need…

Stage 4 lockdown – support for business

Additional business support has been announced to help eligible businesses with the latest restrictions. Weren't previously eligible for JobKeeper? Although you may not have qualified for JobKeeper originally, stage 4 lockdown may have…
victoria business support fund

Business Support Fund Expansion

This article is the August update to the grant, for the latest BSFe grant please click below.     Businesses which have already received a $5,000 BSFe grant, or have applied for one, will not need to re-apply. Successful…
jobseeker changes

JobSeeker changes

On 21 July 2020, The Government announced changes the COVID-19 income support measures. We explore the details. Coronavirus supplement The Coronavirus supplement will continue, albeit on a reduced rate of $250 per fortnight (from $550), from…
Business Support Fund

Victorian Business Support Fund

The Victorian Government has announced that Stage 3 ‘Stay at Home’ will be in reinstated across metropolitan Melbourne and Mitchell Shire from 11:59 on 8 July 2020 to help slow the spread of coronavirus (COVID-19) in Victoria. These restrictions…
ATO targeting covid fraud

ATO targeting Covid-19 fraud

We always knew that a Government scheme swiftly distributing cash during a crisis was going to come with equally swift compliance and review measures, particularly when eligibility was self-assessed. Two major Australian Taxation Office…
home builder grant

HomeBuilder: What is it and how do you access it?

The Government has announced grants of $25,000 to encourage people to build a new home or substantially renovate their existing home. The HomeBuilder scheme targets the residential construction market by providing tax-free grants…

Could your business do with a cashflow boost?

The two cash flow boosts provided by the federal government to help businesses deal with the COVID-19 emergency have largely been overshadowed by the JobKeeper program, but they could provide valuable financial support to organisations that…
ATO jobkeeper audit

The ATO’s JobKeeper audit targets

“…while it is all very well to talk of 'turning points', one can surely only recognise such moments in retrospect.” Kazuo Ishiguro, The Remains of the Day The JobKeeper subsidy has progressed beyond the rush for eligibility and entered…
working from home

Calculating your working from home deductions

With many people now working from home because of COVID-19, some of the expenses your employer normally pays – such as electricity, heating and cooling – are now coming out of your wallet. Although some employers may provide a daily…

JobKeeper is open!

JobKeeper registrations are now open. We have created an updated video which explains all the changes that have come through in the last few weeks since the JobKeeper payment was announced. This can be found below. Our fee details…

Instant Asset Write Off explained

*UPDATE* $150K Instant Asset Write-Off has been extended until 30th December 2020. Read Josh Frydenberg's media release here. Initially announced on 12 May and intended to last until 30 June, the government’s $17.6bn stimulus package…
working remotely

5 tips for working remotely (productively)

In the current climate, many businesses are needing to make changes to accommodate staff working remotely. If you are able to work from home the ensuing changes to your work habits can be challenging to negotiate, however there are things you…

Covid-19 FAQ's

We’ve had alot of questions about assistance for businesses affected by Covid-19, so we are starting to compile them.

2nd Stimulus Package

23/03/2020 2nd Coronavirus Stimulus Package 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…

Covid-19 assistance

A constantly updated blog article with Covid-19 assistance measures and support for businesses.

coronavirus-stimulus-package-explained

CORONAVIRUS STIMULUS PACKAGE: A VIDEO FROM SHAUN Shaun Farrugia has put together a video to explain the Government’s proposed Coronavirus Stimulus Package for business owners. Today I’m going to give you some information…
coronavirus stimulus package for business

The Stimulus Package: What you need to know

12/03/2020 The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus. The yet to be legislated four part package focuses on business investment, sustaining employers…
empty supermarket shelf

Surviving a crisis: Coronavirus and beyond

10/03/2020 Empty restaurants and retail stores were one of the first signs of the devastating impact the coronavirus on Australian businesses.  Within a few months, the virus, now called COVID-19, has gone from being a largely unknown…