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NSW JobSaver scheme – Announcement of tapering and termination
The NSW Government has announced changes to the shape of the JobSaver scheme as the state moves out of lockdown on 1 December 2021.
ATO concerned with foreign gifts and loans
The world is becoming a much smaller place to hide. The Australian Taxation Office (ATO) has a robust data gathering process which includes tax treaties and tax information exchange agreements with well in excess of 100 countries. With new countries agreeing to information sharing on a regular basis, this may be a cause for concern where adequate records have not been kept
What’s your business really worth?
What's your business really worth? Conducting a business valuation has many benefits whether you're ready to sell up or not. In this article we dive into the details around both the process and the benefits of going through a business valuation exercise.
ATO turn up the heat on SMSF related party transactions
When a SMSF derives income through transactions that are not at arms-length, the income is taxed at 45%. This type of income is called NALI - ‘non-arm’s length income’.
New Victorian tenancy relief scheme gives tenants rent relief and landlords land tax relief
The Victorian Government will provide tenancy rules to give relief for commercial tenants struggling with rent payments, with new regulations finalised as part of the Commercial Tenancy Relief Scheme. The scheme will help small and medium-sized businesses with an annual turnover of less than $50 million that have experienced a loss in turnover of more than 30 per cent during the pandemic.
$111.9 Million Northern Australia Development Program launched
Are you considering undertaking a project in Northern Australia? With the announcement of the Northern Australia Development Program (NADP) set to launch in early November, now is the time to put your business plans into motion.
Funding support now available for regional small business
Are you a new business start-up? Embarking on a new business journey is exciting and rewarding, however, often highly capital intensive. In recognition of this, and to help you get a head start on success, the Queensland Government has announced funding available for small businesses based in regional Queensland, under their Business Basics Grants Program.
Divorce – A collision course for business?
Divorce is stressful enough but add the additional element of a family business to the mix and the complications can be magnified, especially when an amicable arrangement can’t be reached by the warring couple.
Payroll tax exposures for medical practices
A recent decision by the NSW Civil and Administrative Tribunal (NCAT) has confirmed the growing concerns of many medical practitioners that their administrative service entities have payroll tax exposures.
NSW 2021 COVID-19 JobSaver – A moving feast
The NSW Government has just released further fundamental changes to both the JobSaver payment scheme and the claim process. The below is a summary of the scheme as at 31 August 2021 including comments on some of the issues still to be resolved.