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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.

Second round of ACT relief provides additional support to small businesses

06 Apr 2020

Chief Minister for the ACT, Andrew Barr, provided a second round of stimulus on 2 April 2020 to further support health services, households – but in particular, small businesses. Second round of ACT relief provides additional support to small businesses

Applications open for Queensland COVID-19 Jobs Support Loans

01 Apr 2020

With COVID-19 impacting all areas of life, the Queensland Government has announced on 24 March 2020 a $4 billion package to help Queensland manage the impacts of the COVID-19.

WA reveals $1b COVID-19 economic and health relief package

31 Mar 2020

Yesterday, WA Premier Mark McGowan revealed the details of a $1b economic and health relief package. This builds on the $607m in relief and stimulus announced earlier in March and the $706m of economic stimulus measures announced in late 2019.