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Single Touch Payroll Phase 2 employer reporting

Single Touch Payroll (STP) phase 2 is now the way an employer reports their employees superannuation and tax information to the ATO when you run your payroll. The information that will be submitted to the ATO includes gross pay, paid leave, allowances, PAYG withholding & super liability information. You’ll no longer have to send the…

Stapled Super Fund – what you need to know

From 1 November 2021, if you have a new employee start and they don’t choose or provide a super fund to you, you may need to request their “stapled super fund” details from the Australian Taxation Office. A stapled super fund is an existing super account linked to an individual. This super account will follow…

Director ID requirement for ALL Companies

There are important changes for all directors of companies that will need to be implemented. Anyone that is a director of a company will now need a Director identification Number (Director ID). A Director ID is a unique identifier that you will need to apply for to prevent fraudulent directors identities. You will only need…

Business Costs Assistance Program Round Four – Construction

Earlier this month, the Victorian Government announced that there will be a grant available to businesses in the construction industry. This grant is called the Business Costs Assistance Program Round Four – Construction, which is now open for applications! Businesses must have incurred direct costs due to the lockdown of construction sites from 21 September…

Construction Sector Restrictions – COVID-19

This week, the government have released new restriction changes for the construction industry due to a spike in COVID-19 cases detected at work sites. These new restrictions are in place to allow workers to continue working safely. Key information you need to know: All construction sector employees to have had at least their first COVID-19 vaccination…

New Grant: Small Business COVID Hardship Fund

This week, the Victorian Government have released a new Grant for small and medium businesses called the Small Business COVID Hardship Fund. If your business has been majorly impacted by COVID-19 and has had at least a 70% reduction in turnover as a result of COVID-19, you may be eligible to apply for this grant!…

COVID-19 Business Support Grants – Top-Up Payment

Has your business been significantly affected by the current (July 2021) Victorian lockdown? The Victorian Government has just released a new Business Support Grant for businesses and sole traders that have been affected by the lockdown extension announced for Victoria this week. See information below regarding this “Top-up Payment” Eligibility Criteria To be…

Are you eligible for the temporary COVID disaster payment?

Hi everyone, Today we would like to chat to you about the recent announcement from the Australian Government regarding a temporary COVID disaster payment. This is a one off payment aimed at workers that are undergoing lockdown for more than seven days and reside or work in an area defined as a Commonwealth-determined hotspot Click…

The 2021 Federal Budget Changes & What It Means for You

Hey guys, We hope you’ve had a great week so far. Today we would like to chat to you about the 2021 Federal Budget, and what it means for you. To help create jobs, business investment and confidence after COVID-19, the Federal Government has just released a big spending 2021-22 Federal Budget! Based on our…

Working from home business expenses including setting up your home office

Claiming “Working from Home” Expenses at Tax Time (2020-21)

Lately, we have been asked many questions relating to COVID-19 and how it will impact claimable deductions in the 2020-2021 Tax Year. The reality is that there are going to be some significant changes. Especially given many of you have incurred additional working from home expenses, that you wouldn’t typically experience in your normal working…