Federal Budget – Key Takeaways On 6 October, the Government released the Federal Budget for 2020/21. It was a budget designed to stimulate the economy and create new jobs. Below is a summary of the key takeaways and some planning opportunities all business owners should consider taking advantage of.
JobKeeper Extended The Federal Government has announced that the JobKeeper scheme will be extended to 28 March 2021. It was previously scheduled to end on 27 September 2020. There will be changes to both the eligibility requirements and payment amounts. The fortnightly payment of $1,500 will be reduced to $1,200 from 28 September 2020 and …
JobKeeper 2.0 – Changes to the JobKeeper Payment Read More »
By Chris Mandzufas A realistic and detailed budget is crucial for guiding your business to tackle unexpected challenges and to ensure you stay on track to grow. Â It may seem obvious that business growth can only occur when there is money available for reinvestment, but it is surprising how many businesses do not budget …
By Chris Smith For businesses to maximise their cash position, they should consider the following tax planning opportunities before 30 June.
By Tony Monisse Learn why it is important to forecast the profit & loss, cashflow and balance sheet. As I see it, a budget is merely a forecast prepared at a point in time. This point in time is usually tied to the end of the financial year and the business’ planning cycle. In contrast, …
On 21 July the government announced proposed changes to JobKeeper including an extension through to 28 March 2021. Read our summary of these updates here, or visit the ATO’s website for further details. From 20 April 2020, you can enrol with the ATO for the JobKeeper payment using the Business Portal and authenticate with myGovID. …
Details of the JobKeeper Payment – eligibility, how to enrol & critical deadlines Read More »
On 31 March 2020, the WA State Government announced economic relief measures for West Australians. Key details of the package are: Small and medium businesses: $2,500 one-off credit to Synergy and Horizon customers who consume less than 50 megawatt hours per year (expected to help 95,000 businesses) Payroll tax waived for 4-month period from 1 …
Details of the WA State Government’s Second Economic Relief Package Read More »
On 22 March 2020, the Federal Government announced further economic stimulus measures for individuals, businesses and the banking sector, to support Australia through the unprecedented impact of COVID-19. This economic plan will provide significant benefits to small and medium-sized businesses and households in addition to the stimulus package announced on 12 March. The key announcements …
Details of the Government’s Second Stimulus Package Read More »
The Federal Government last week unveiled their $17.6 billion stimulus package — which includes grants of up to $25,000 for small business, support for those employing apprentices and accelerated depreciation amongst other measures.
On 2 April, the Government released the Federal Budget for 19/20. Below are the key takeaways that may be relevant to you and your group:
