Our latest insights

The JobKeeper package is an extremely important lifeline for Australian businesses, with more than 760,000 businesses registering for the $1,500 per fortnight wage subsidy with ATO in a little over a week.

As a consequence of COVID-19, many businesses are facing or about to face unforeseen challenges and even financial distress. To equip you with the tools to respond to your client’s needs, watch our Affinity Critical Update webinar.

Hot on the heels of the Cash Flow Boost, a $32 billion program itself, the Federal Government has announced the JobKeeper package at a massive cost of $130 billion.

FBT returns are due to be lodged in a few short months. To be on the front foot, listen to our one-hour free webinar as we discuss the latest updates on your critical employment tax obligations, including those that have come into play as a result of the COVID-19 situation.

COVID-19 has created unprecedented uncertainty for business, not just in Australia, but the whole world. How long this uncertainty will last is unknown. The Prime Minister has been telling Australians that this uncertainty is anticipated to last at least six months. There have also been reports that it will last for twelve months, possibly longer.

The Covid-19 pandemic continues to have a wide range of economic impacts for us all, and the Government is responding with a variety of assistance measures as these impacts evolve around us.

COVID-19 has already had a massive impact on Australia, even though we are still in the early phases of the pandemic. Businesses are trying to adapt to the changing environment in order to continue operating so that they can try to survive the difficult days ahead as the whole world attempts to win the battle against COVID-19.

COVID-19 has significantly reduced the number of shoppers that are visiting Australian shopping centres for reasons other than to shop for food and other essential items that will allow them to maintain social distance, and if necessary, self-isolate for a period of time.

As the margin scheme is widely used by those in the real estate & construction industry, this webinar will provide a detailed examination into the application of the margin scheme.

As part of the program to combat illegal phoenixing, the A New Tax System (Goods and Services Tax) Act 1999 (“GST Act”) and the Tax Administration Act 1953 (“TA Act”) have recently been amended.

In recent years we’ve seen the release of AASB 15 “Revenue from Contracts with Customers” and Tax Ruling 2018/3 “Tax treatment of long term construction contracts” (formerly IT 2450). Industry participants and their advisors need to understand the impact these may have on the timing and quantum of their revenue each year.

Following on from the alert last week, it has become increasingly clear how complicated the differing surcharge rules are making the establishment and administration of discretionary and testamentary trusts.