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Record deficit but Australia remains one of the strongest performing countries in the world
The Australian family business doesn’t just mean the café down the road. Spanning nearly every industry and size, the nimble nature of family businesses has meant that many have thrived during COVID – some even more so than their more corporatised competitors.
Today Prime Minister Scott Morrison and Treasurer Josh Frydenberg revealed the future of JobKeeper and JobSeeker amid concerns the economy could fall off a cliff once the programs end.
When COVID hit, the combination of JobKeeper, banks deferring principal and interest payments, and temporary changes to insolvency laws gave businesses some much needed breathing space – preventing the immediate tsunami of insolvencies many were anticipating.
David Thodey’s draft ‘Supporting the Road to Recovery’ report highlights a number of clear areas of tax reform.
If you’ve changed the usage of your business acquisitions (purchases) or importations this financial year (or an earlier year), you may be required to make GST adjustments.
During the Global Financial Crisis we saw a tightening of liquidity from traditional sources – which took a period of nearly five years to bounce back.
Applications open for the 2020 Export Market Development Grant (EMDG) program. Be it products, services or IP, this grant is the Federal Government’s cornerstone funding program for businesses who export or who are looking to elevate their international strategy and operations.
This webinar dives into corporate tax and GST considerations for lawyers to bear in mind during sales of shares and business assets – both when working with a purchaser and seller.
The depth of the recession, impact on businesses and property prices.
The ATO will commence new GST reviews in the Top 1000 population in August 2020. This will be in addition to the announced compliance and integrity reviews for JobKeeper that we will see over the coming months.
In the words of Richard Olswang, Prudential Global IFRS 17 Actuarial Lead, IFRS 17 has the potential to be bigger than Solvency II and with APRA seeking an industry update as early as August, it’s important to understand the changes and the implications.
