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Backing a winner: Digital games tax

Heather Moore
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Backing a winner: Digital games tax The digital games and interactive entertainment sector is the largest creative sector in the world and one of the fastest growing industries worldwide. The global digital games industry is worth around $250 billion and in Australia, grew 22% between 2020 and 2021 generating $226.5 million in income and employing…
NSW & VIC Businesses in Lockdown

UPDATE: COVID-19 What lockdown support is available to NSW business?

Emma Zajac
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If your business is adversely impacted by NSW lockdowns, support is available. The NSW and Federal Governments have released a series of measures to support business during extended lockdowns of four weeks or more. Up to $100,000 in weekly JobSaver cashflow support payments Up to $15,000 through the expanded NSW 2021 COVID-19 business grants program…
The ATO has clarified the tax treatment of JobKeeper payments handed back to the Government.

Tax Treatment of JobKeeper Payments Handed Back to ATO

Emma Zajac
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The ATO has clarified the tax treatment of JobKeeper payments handed back to the Government. The clarification comes after the Super Retail Group, Dominos Pizza and Toyota collectively returned more than $20 million in JobKeeper payments after reporting exceptional trading results. Where a business has handed back JobKeeper despite qualifying for the payments, the ATO…
The Garis Group Wins Best Small Business Accounting Firm in Australia

The Garis Group Wins Best Small Business Accounting Firm in Australia

Emma Zajac
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In some exciting news for Newcastle & the Hunter over the weekend, local accounting firm The Garis Group won best small business accounting firm in Australia at the nationally recognised Small Business Champion awards at the International Convention Centre in Darling Harbour, Sydney on Saturday night. The awards night was postponed several times throughout 2020…
ATO reveals STP reporting options for closely held payees

ATO Reveals STP Reporting Options for Closely Held Payees

Emma Zajac
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Employers with closely held payees will now have three options to report payments through Single Touch Payroll, following guidance from the ATO. The ATO has confirmed that STP reporting for closely held payees will commence from 1 July, after it had granted these employers a one-year exemption in the midst of the pandemic last year.…
Coronavirus grants now tax-free

Coronavirus Grants Now Tax-Free

Emma Zajac
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Legislation aimed at ensuring coronavirus small business grants are not subject to income tax has now passed both houses of Parliament. Treasury Laws Amendment (2020 Measures No. 5) Bill 2020 passed Parliament late on Thursday. The bill amends income tax law to make certain grant payments received by eligible businesses non-assessable non-exempt income so that these…
Small Retail Business Owner in VIC

Victoria Launches Small Business Digital Rebate

Emma Zajac
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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 coronavirus grants set to be income tax-free under new bill

Small Business Coronavirus Grants Set to be Income Tax-Free under New Bill

Emma Zajac
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A new bill that ensures state and territory grants issued in response to the coronavirus pandemic are not subject to income tax has now been introduced. Treasury Laws Amendment (2020 Measures No. 5) Bill 2020 has now been introduced in Parliament, following the government’s announcement that small and medium business grants announced on or after…
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