In the lead-up to 30 June 2020, we want you to be aware of opportunities to save tax with super contributions.

2020 Tax Planning | Opportunities with Superannuation for 2020

When you retire, your superannuation is likely to become an important source of your income. That’s why it’s a good idea to top it up while you are working. But did you know, there are also some excellent tax benefits you can take advantage of right now – just by making your own voluntary superannuation…
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2020 Tax Planning

2020 Tax Planning | Reduce your 2020 Tax!

With the end of financial year approaching quickly, NOW is the time to discuss with us the actions you can take before 30 June 2020 to reduce your tax and grow your wealth!   For 2020, key priorities are likely to include: Maximising superannuation contributions without exceeding the relevant caps Bringing forward deductible expenses Deferring taxable income Managing…
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Bridging Funding for JobKeeper Payment

COVID-19 | Bridging Funding for JobKeeper

Senator the Hon Michaelia Cash has released the following update to assist Small Businesses and Households impacted by COVID-19 Bridging Funding for JobKeeper Australian banks are playing a vitally important role in bridging the finance that businesses need to pay their staff ahead of receiving the first JobKeeper Payment in the first week of May.…
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JobKeeper to address service entities: Josh Frydenberg

COVID-19 | Special Purpose Service Entities Now Included in JobKeeper Scheme

Corporate groups that employ staff in a service entity will now be included in the JobKeeper scheme under a yet-to-be-announced alternate decline in turnover test. Revealed by Treasurer Josh Frydenberg on Friday night, the government will now provide an alternate decline in turnover test for the eligibility of special purpose service entities that provide employee…
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ATO extends initial JobKeeper payment deadline

COVID-19 | ATO Extends Initial JobKeeper Payment Deadline

Employers looking to enrol for the first two JobKeeper fortnights have now been granted a further extension of time to enrol and pay employees. The ATO has now announced an extension of time for employers who wish to enrol for the first two JobKeeper fortnights to 31 May, an extension from 30 April. Crucially, for…
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COVID-19 Australias Major Banks agree to 'Bridging Finance" for JobKeeper Payment

COVID-19 | Major Banks Agree to Provide ‘Bridging Finance’ to Help Businesses

Businesses will be given a leg up by Australia’s major banks through sped-up loans to cover upfront staff wages before the ATO reimburses the $1,500 per fortnight JobKeeper payment each month. Treasurer Josh Frydenberg has announced that Australia’s four major banks have now agreed to provide “bridging finance” to help businesses pay their employees before…
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ATO issues further guidance for sole traders, trusts, partnerships, companies

COVID-19 | Job Keeper Payment: Further Guidance for Sole Traders, Trusts, Partnerships & Companies

Guidance around JobKeeper eligibility for sole traders and businesses that operate in the form of a company, trust or partnership has now been updated by the ATO. In an ATO update on Thursday, such entities will be eligible if they carried on a business in Australia on 1 March 2020; satisfied the fall in turnover…
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COVID-19 | NSW Announces $440 Million in Land Tax Relief for Commercial & Residential Landlords

COVID-19 | NSW Announces $440 Million in Land Tax Relief for Commercial & Residential Landlords

New South Wales commercial and residential landlords will now receive up to $440 million in land tax relief that must be passed on to tenants who have been impacted by COVID-19. The $440 million land tax relief package is expected to be evenly divided between the commercial and retail sector, with landlords to be offered…
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