Taxing times for private groups: where to next?
InsightATO tax reviews 2025: ATO targeting privately owned and wealthy groups with Top 500, Next 5000 and Medium and Emerging Private Groups programs.
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By: Iain Kemp
21 Jul 2021 1 min read
The cash grants of $3,000 are part of the new Business Support Package, which includes a $1,000 cash grant for eligible small businesses that don’t employ staff (ie sole traders).
To be eligible for the one-off $3,000 cash grant, businesses must meet the following eligibility:
The Marshall Government has also provided income support payments of up to $600 for eligible workers in regional SA who live or work outside of a Commonwealth-declared ‘hotspot’, and therefore not eligible for the Commonwealth’s COVID-19 Disaster Payment scheme. Individuals can apply for the support payments via the myGOV website from 28 July 2021.
Applications for the Business Support Grants are expected to open within two weeks on the Treasury Website. In the meantime, businesses can register their interest here.
South Australian State Treasurer Rob Lucas MLC indicated that if the lockdown continues beyond two weeks, the State Government would further contribute to business support measures.
ATO tax reviews 2025: ATO targeting privately owned and wealthy groups with Top 500, Next 5000 and Medium and Emerging Private Groups programs.
We have now updated our COVID-19 Vaccination Policy so all people will be allowed to visit and work in our offices regardless of their vaccination status.
New COVID-19 variants remain a risk for all world economies and this uncertainty has the potential to impact business confidence and investment decision-making. This will be weighing on the Australian Government as it fine-tunes the 2022-23 Federal Budget.