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Queensland Jobs Fund - Industry Partnership Program
This month the Queensland Government opened applications for grants under their Industry Partnership Program. The program is launched under the Government’s $1.84 billion Queensland Jobs Fund, in a bid to support Queensland’s economic prosperity and resilience.
Fair Work Commission releases 2021 wage decision
On 16 June 2021 the Fair Work Commission (FWC) released its 2021 wage decision. A 2.5% increase will be applied to all Award rates and to the national minimum rate.
2021 Year end tax planning guide
2021-22 Queensland State Budget
The Queensland State Budget handed down by Treasurer Cameron Dick on 15 June 2021 reported a budget deficit of $3.8 billion is expected this year, improving to $3.4 billion next year and forecasted to return to a small surplus of $153 million in 2024-25.
Cryptocurrency under the microscope this tax time
Recently the ATO has expressed concern that many taxpayers believe their cryptocurrency gains are tax-free, or only taxable when the holdings are cashed back into Australian dollars.
2021 Year end superannuation planning guide
The ATO targets rental property owners
In order to close the tax gap of individual taxpayers, the ATO is cracking down on rental property owners with the commencement of 2 data-matching programs to collect property management data and rental bond data, ensuring that various income tax reporting obligations have been met.
OECD Guidance on Transfer Pricing implications of Covid-19 pandemic
On 18 December 2020, the Organisation for Economic Co-operation and Development (OECD) issued the much-awaited guidance on Transfer Pricing implications of Covid-19 pandemic that provides broad principles for taxpayers in reporting the financial periods affected by the pandemic and for tax administrations in evaluating the implementation of taxpayers’ Transfer Pricing policies.
2021-22 Victorian State Budget overview
The 2021-22 Victorian State Budget handed down on Thursday 20 May 2021 by Treasurer Tim Pallas focuses on the road to recovery, with a number of new or increased tax measures announced. Notable measures contained in the budget include:
The Farm Household Allowance (FHA) continues to support farming families experiencing hardship
Australian farmers face significant seasonal variability, including climatic inconsistencies and volatile commodity prices, sequentially there are significant differences in farming outputs year in year out. In recognition of this the Australian government Department of Agriculture Water and the Environment (DAWE) is continuing to support Australian farmers through the Farm Household Allowance.