Discretionary Trusts holding residential property in NSW may be subject to additional state taxes unless the trust deed is appropriately varied prior to 31 December 2020.
A super guarantee amnesty was introduced in March 2020 by the Australian Government. Employers need to apply by 7 September 2020. If you’re affected by economic changes due to COVID-19, there is assistance available.
If your small business or not-for-profit organisation has experienced a decline in turnover as a result of COVID-19, you may be eligible for a small business recovery grant of between $500 and $3000.
The Australian Government has announced cuts to payments under the Jobkeeper scheme but has extended their life spans. Jobkeeper 1.0 will remain till 27 September 2020 and thereafter, Jobkeeper 2.0 will continue for a further six months till 28 March 2021.
Applications will open on the 17th April 2020 for the $10,000 Grants for NSW small businesses.
The criteria for this Grant at this stage appears to be;
There have been a number of recent updates to the JobKeeper Payment initiative. I’ll take you through these updates explaining what they are and what businesses need to do to ensure they receive the benefits of the Job Keeper Payment.
Premier Gladys Berejiklian, Treasurer Dominic Perrottet and Minister for Finance and Small Business Damien Tudehope announced grants of up to $10,000 to provide fast relief for NSW small businesses.
The government has announced a support package of $130 billion for businesses, delivered through a wage subsidy called the JobKeeper Payment to help businesses stay in business and keep employees in work as we move through the COVID-19.
I’ll take you through the things you need to know…
We hope you and your families are well and navigating this difficult time as best as you can. We’ve been asked a lot of questions over the past few days so I thought I’d share these with you and provide some help on the things you can action straight away, or at least start to consider utilising shortly.
Following the recent announcement by Scott Morrison of a $17.6b stimulus package, the following points are a brief snapshot of those elements of the package most likely to affect our business clients. These measures are yet to become law, but are, however, likely to do so imminently, and be effective from 12 March 2020.