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With the latest lockdown in Victoria entering its second month, there is some more support news for small and medium-sized businesses hardest hit by the current public health measures.

APRA has now begun issuing notices to regulated financial institutions advising them to start preparing for CPS 234 tripartite reviews.

In addition to recent Federal and States’ business financial support packages and loans – including JobSaver for NSW and Victorian businesses and Jobs Plus Program in NSW – there has been more news from the Morrison Government around additional help to small and medium sized businesses (SMEs).

Some welcome news for many businesses in New South Wales and Victoria, with some key COVID-19 business support programs in these lockdown-impacted states now tax-free.

Both the ATO and the State Revenue Offices have a number of focus areas putting employment taxes squarely on the agenda again.

In response to an increase of importers submitting transfer pricing Voluntary Disclosure requests without first applying to the Australian Border Force (ABF) Valuations team for variation amendments, the ABF has reconfirmed their processes.

If you are in a qualified profession or trade, it is important that you are aware of the ATO’s recent self-managed super fund around non-arm’s-length expenses.

With South East Queensland still feeling the effects of its recent spate of COVID-19 lockdowns – and Cairns entering one this week – the Queensland hospitality and tourism sectors have borne the brunt of the shutdowns.

The vaccine roll-out has picked up significant pace over the last week, however it was made clear today that there will be no special laws implemented to allow employers to mandate vaccinations or to bar unvaccinated people from premises. Employers may make a “reasonable directive” for staff to get vaccinated, however, the Solicitor-General cautioned employers to consider how these decisions relate to discrimination laws and unreasonableness of any direction made to an employee.

As the short-sharp lockdown in South East Queensland threatens to be extended, the Queensland Government is providing grants of up $5,000 to affected small and medium businesses across Queensland.

Earlier this evening Prime Minister Scott Morrison revealed that the National Cabinet has agreed in principle the four phase plan to reopen Australia.

In response to the persistent occurrence of outbreaks and lockdowns in our major cities, the Federal Government has come to the table with additional support for businesses impacted by extended lockdowns.