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Businesses

Starting a Business - Types of Business Structures

Types of Business Structures in Australia

When starting a business, you will need to decide which type of business structure is best for your business. During this process, you should consider your personal circumstances and who will be the key operator of the business. Making the right decision from the onset is critical because the business structure you choose can impact:…

What is the JobMaker Hiring Credit?

On 6 October 2020 as part of the 2020–21 Budget, the Government announced the $74 billion JobMaker Plan. Of this amount, they have set aside $4 billion dollars for a JobMaker Hiring Credit and an additional $1.2 billion for the Boosting Apprenticeships Wage Subsidy to support new apprentices and trainees. They hope that these incentives will help to…

The 2020/21 Federal Budget & what it means for you

Happy Wednesday, Today we wanted to help explain the latest changes to the Government’s 2020/21 Federal Budget. There’s been a lot of confusion around the budget and yes, trying to get your head around all the changes yourself can be overwhelming. Although a bit dry, stay with us as we do our best to explain the…

Jobkeeper 2.0 | An overview of eligibility & payments

Hey everyone, Today, we wanted to run you through a summary of the changes that will be rolling out for Jobkeeper 2.0. As you may be aware, the Government recently announced that the Jobkeeper Payment would be extended by a further six months to 28 March 2021. With the additional criteria, they hope to provide…

COVID-19 Stage 4 Restrictions & Jobkeeper

In light of last weekend’s COVID-19 restrictions update, we wanted to let you know that our office will remain closed however our team will continue working remotely from home. The news poses challenges and disappointment for many businesses across Victoria, however we remain committed to helping and supporting you as best we can. Although we…

What is the Super Guarantee Amnesty?

On 6 March 2020, the government introduced a Super Guarantee (SG) Amnesty. This amnesty was intended to give employers the opportunity to disclose and pay previously unpaid super guarantee charge (SGC), including nominal interest, they owe their employees, for quarter(s) starting from 1 July 1992 to 31 March 2018. Eligible disclosures will not incur the…

Business Support Fund Extension for businesses impacted by covid 19

Applying for the Business Support Fund Extension & Jobkeeper Payments

As you would be aware, Victoria has now entered into Stage 4 lockdown for 6 weeks. To help support your businesses through this period, here are some key support measures to consider: 1) August & September JobKeeper Payments If you haven’t previously enrolled for JobKeeper payments, NOW is the time to reassess your eligibility. All enrolments to…

Stage 4 Coronavirus Restrictions: Office Changes & JobKeeper Payments

Given the release of Stage 4 restrictions, we have some important information to share with you. Before we go into that, we wanted share our compassion and support for each of you who have been impacted by COVID-19. Whether it be closing your business or having lost your job. We understand that the next 6…

Claiming Work-Related Expenses | Part 3 – Other Popular Deductions

Hello everyone, Continuing our series on work-related expenses, this week we wanted to talk about a couple of other popular items people try to claim in their tax returns. These include work-related travel, clothing, phone & internet, education and “working from home” expenses. If you have not read our first 2 articles of the series,…

MyGov accounts are NOT compulsory | So, do you really need one?

In February 2020, legislation came into effect that requires all employers to start reporting their payroll through Single Touch Payroll from 1 July 2019. Employers were given until 30 September 2019 to start reporting without needing to apply for additional time. As an employee, these changes mean that your tax and super information is now…