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NSW Government Announce New Grants Post Lockdown

NSW, WA Governments Announce New Grants Post-Lockdown

The New South Wales and Western Australia state governments have now announced new grants for small businesses affected by snap COVID-19 lockdowns. In NSW, the new $3,000 and $5,000 hardship grants will be available to small businesses in Sydney’s Northern Beaches that were affected by COVID-19 restrictions over Christmas last year. WA small businesses will…
ATO extends simplified working-from-home deduction method

ATO Extends Simplified Working-From-Home Deduction Method

Taxpayers continuing to work from home in the new year will be allowed to continue using the simplified working-from-home deduction method following a third extension by the ATO. The 80¢ per hour shortcut method, introduced in April 2020 in response to COVID-19, will now be in place until 30 June 2021. This is the third…
NSW Government Dine & Discover Vouchers

Christmas Comes Early for NSW Hospitality, Tourism & Art Industries

What a year! I think I can speak on behalf of, well, everyone, when I say that Christmas is upon us and I couldn’t be happier to close the chapter that is the year 2020. It’s the time of year where most businesses are winding down and planning for a little R & R, however…
Small Retail Business Owner in VIC

Victoria Launches Small Business Digital Rebate

Victorian businesses will now have access to a $1,200 rebate to put towards adopting new digital products, including cloud accounting tools, to assist them in their COVID-19 recovery. Victoria’s Small Business Digital Adaptation Program is now open for registrations until 28 February 2021. The program, part of the state government’s $3 billion Business Resilience Package,…
Small Business Owner unhappy as he misses out on loss carry back

Small Business Shut Out From Loss Carry Back

Thousands of small businesses are set to miss out on accessing the temporary loss carry back provisions due to its limitation to corporate entities. The National Tax and Accountants’ Association has now written to Treasurer Josh Frydenberg to call for the expansion of the loss carry back provisions to non-corporate entities such as sole traders, partnerships and trusts.…
COVID-19 Preventing a tsunami of insolvencies

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 trade through the pandemic. The measures provide: A temporary increase in the threshold at which creditors can…
JobKeeper: The Next Steps

JobKeeper: The Next Steps

The first tranche of JobKeeper ended on 27 September 2020. We look at the issues for those seeking to qualify for the second tranche of JobKeeper and for those no longer eligible. Wrapping Up JobKeeper If your business is no longer eligible for JobKeeper payments, there are a few things you need to do: Advise…
Small Business Support Centre Launches in Newcastle NSW

Small Business Support Centre Launches in Newcastle

The Business Centre will be able to help even more businesses struggling under COVID-19, via the Small Business Recovery Centre, which was launched earlier this month. Thanks to the support of the City of Newcastle, The Small Business Support Centre for six months will offer much needed support to businesses wishing to bounce back. CEO…
The ATO has extended its relaxed approach to pay-as-you-go instalment variations to the new financial year, with businesses urged to undertake a first-quarter check-up

ATO Extends Relaxed Approach to PAYG Instalment Variations to New Financial Year

The ATO has extended its relaxed approach to pay-as-you-go instalment variations to the new financial year, with businesses urged to undertake a first-quarter check-up. In light of the ongoing impacts of COVID-19, the ATO has announced that it will not apply penalties or interest for excessive PAYG variations in the 2020–21 financial year, continuing its approach…
ATO assistant commissioner Sylvia Gallagher

ATO kicks off ‘soft’ debt collection restart

The ATO has launched a soft restart of its debt and lodgement activities as it looks to re-engage with businesses. Apart from Victoria, where businesses are working towards a staged reopening plan, the ATO has begun reaching out to businesses in other parts of the country as part of its debt intervention activity restart after such…
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