From 1 July 2020, parents accessing the Government’s parental leave pay (PPL) scheme will have greater flexibility and options.
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We always knew that a Government scheme swiftly distributing cash during a crisis was going to come with equally swift compliance and review measures, particularly when eligibility was self-assessed. Two major Australian Taxation Office (ATO) initiatives are searching out fraud and schemes designed to take advantage of the Government’s Coronavirus Economic Response Package.
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Our latest update on the Australian economy.
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The start of the financial year is always an excellent time to take stock of your current situation and visualise where you’d like to be in the future.
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While Australia’s handling of the COVID-19 pandemic was among the best in the world, the speed and spread of the illness underlined just how fragile life can be.
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With Australia in a COVID-induced recession, residential property is not immune to falling economic activity. Yet housing prices are proving surprisingly resilient.
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Despite the current economic environment, the company tax rate will reduce to 26% for small and medium businesses from 1 July 2020.
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News headlines recently stated that casual workers have won the right to paid leave following a decision in the Federal Court. As usual, the devil is in the detail.
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The JobKeeper subsidy has progressed beyond the rush for eligibility and entered its second phase: compliance. Late last month, the Australian Taxation Office (ATO) released guidance highlighting where the regulator will focus its compliance resources.
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The new financial year is almost upon us, and there are some important changes to note.
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Our latest update on the Australian economy.
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After successfully navigating our initial response to the COVID-19 (coronavirus) health crisis, backed up with $285 billion in government support to individuals and businesses to keep the economy ticking over, thoughts are turning to how to get the economy back on its feet.
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As this financial year draws to a close, it will be viewed as a year like no other. COVID-19 (coronavirus) has impacted everybody’s life, albeit in different ways for different people.
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The COVID-19 pandemic has shifted our day-to-day lives in a dramatic way. One of the biggest changes to come from this period, was a transition to working from home for many people.
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Our latest update on the Australian economy.
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The Morrison Government’s mind-bogglingly large support packages to get Australians through the COVID-19 shutdown have dominated headlines, and rightly so. Only months ago, the Australian economy was in relatively good shape and headed for a Budget surplus.
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At a time of uncertainty about the economy, not to mention unexpected social isolation, people are rethinking their personal and financial priorities.
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The coronavirus pandemic has resulted in dramatic and unprecedented changes for many families and households, impacting social lives, workplaces and finances.
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Please note that the Commissioner of Taxation has extended the time to enrol for the initial JobKeeper periods from 30th April 2020 until 31st May 2020.
Read MoreFor your convenience, we have created a snapshot of the JobKeeper support package offered by the Australian Government in response to COVID-19. Please see below.
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