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Last of the expected major changes implemented for JobKeeper eligibility

02 May 2020

On 1 May 2020, the Federal Treasurer amended the JobKeeper rules to give effect to the changes announced last Friday, 24 April 2020 and additional measures.

Congratulations to 86 400

29 Apr 2020

Neobanks are changing the financial services market in Australia and becoming a viable option for consumers, has emerged in response to the changing needs of consumers including the importance of convenience and simplicity as well as 24/7 access from their banks.

JobKeeper top-up payments extended

28 Apr 2020

As many employers still await further details about whether they will qualify for JobKeeper, the ATO Commissioner has extended the time to make payments for the first two fortnights (i.e. 30 March – 12 April and 13 April – 26 April).

JobKeeper eligibility clarified for special purpose service entities and specific groups

24 Apr 2020

On Friday, 24 April 2020, the Federal Treasurer Josh Frydenberg announced further clarifications to the JobKeeper subsidy in response to around 900,000 businesses expressing an interest in the program and more than 400,000 already enrolled to receive the payments.

Blanket deferrals for income tax and FBT returns for 2019/2020

23 Apr 2020

The Australian Tax Office (ATO) Commissioner announced on 22 April 2020 that the ATO will be granting deferrals for 2019 income tax returns and 2020 FBT returns.

Rescue package for Northern Territory businesses

23 Apr 2020

Northern Territory Chief Minister Michael Gunner announced a $180m rescue package for small and medium sized businesses affected by COVID-19. Specific details are yet to be published, particularly around payroll tax waivers and deferrals, and confirmation of whether the threshold is Australian grouped wages.

Commercial Tenancies Code with complementary relief

15 Apr 2020

Now that the Government’s measures regarding the protection of the rental system are becoming clearer and we have the release of the Commercial Tenancies Code as a guideline, we are now seeing the States announcing their approach to the promised ‘complementary relief’ in relation to land tax.

JobKeeper legislation passed by Parliament unamended

09 Apr 2020

Late on Wednesday night, Parliament passed the $130b JobKeeper wage subsidy package unamended from the original announcement made by the Prime Minister Scott Morrison on 30 March 2020. Passed in one day, this is the single largest economic rescue package in Australia’s history.

Obtaining practical valuation opinions for SMEs in a COVID-19 Environment

07 Apr 2020

Unprecedented may already be the most overused word for 2020 but that doesn’t change the fact that current events are causing enormous challenges for business valuers and users alike.

Accounting implications of COVID-19

07 Apr 2020

The recent COVID-19 outbreak has caused extensive disruptions to the entire global economy.