Yearly Archives: 2020

JobMaker: how your business can take advantage

The Government has released details of what it calls its “JobMaker” hiring scheme. It will take the form of a payment to employers for each new job they create over the next 12 months. It is estimated that the scheme will cost $4 billion and support about 450,000 employees. So it could help a lot...
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2020-21 BUDGET ANNOUNCEMENT

The Government budget announcement on 6 October 2020 for 2020 – 2021 financial year was delayed the from the usual delivery date of the second Tuesday in May as a result of COVID -19. The Government’s big spending and cash splash budget announcement was in response to the forecasted economic impact of COVID 19. GDP declined...
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Helping hand from the ATO for struggling businesses

With the country officially in recession, the ATO is getting ready to help businesses that are struggling due to the economic downturn caused by COVID-19. It expects that for the 2019-20 and 2020-21 years, many businesses that ordinarily turn a profit may be making a loss, and for some businesses it may be the first...
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Flexibility for SMSF membership coming soon

The government has recently reintroduced a Bill to Parliament that proposes to increase the maximum number of allowable members from 4 to 6. The contents of the Bill were previously contained in the 2018-19 Budget and introduced into Parliament before being unceremoniously dropped due to lack to support from the Opposition at that time. The...
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