Big Banks Outline Mortgage Repayment Relief

Big Banks Start to Release Loan Package and Mortgage Relief Options

The major banks have outlined how they are supporting those affected by the coronavirus pandemic and its economic impacts, including mortgage repayment relief and interest rate reductions. On Thursday (19 March), the Reserve Bank of Australia (RBA), the federal government and the Australian Prudential Regulation Authority (APRA) announced a raft of new measures to support the domestic economy in the wake of the…
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The Second $66.1 bn Stimulus Package: What You Need To Know

The Second $66.1 bn Stimulus Package: What You Need To Know

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 support of up to $100,000 for small business employers, and relaxes corporate insolvency laws. The stimulus measures are not yet legislated. Parliament will reconvene on Monday 23 March.…
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Small Business Empty due to COVID-19

ATO Implements Support Measures to Assist Those Affected by COVID-19

The Australian Taxation Office (ATO) will implement a series of administrative measures to assist Australians experiencing financial difficulty as a result of the COVID-19 outbreak. Commissioner of Taxation Chris Jordan is encouraging businesses impacted by the coronavirus to get in touch with the ATO to discuss relief options. “We know that many businesses and communities…
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The Stimulus Package - What You Need To Know

The Stimulus Package: What You Need To Know

Following the Prime Minister’s media announcement late last week we have compiled a summary of the government’s COVID-19 economic stimulus support plans for both individuals and small businesses. We will provide additional client alerts and announcements on various matters as and when required, however for now if you or your business requires support, please reach…
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Man reading letter from ATO regardinf Cryptocurrency Transactions

ATO Warning Letters Highlighting Cryptocurrency Tax Discrepancies hit Australian Mailboxes

The ATO’s cryptocurrency data-matching program, announced in May last year, has now resulted in an undisclosed number of letters being sent out to taxpayers, warning them to come clean with their capital gains or losses. Cryptocurrency records relating to up to one million individuals have been estimated to have been obtained by the ATO, with taxpayers given…
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Small Business Owner Standing in empty cafe due to Corona Virus

Surviving a Crisis: Coronavirus and Beyond

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 medical condition to one that threatens to impair Australian and global economic growth. We explore the impact on business…
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