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Changes to car parking Fringe Benefits Tax: are you eligible for exemption?
Car parking provided to employees on site or near their office is a common benefit for many businesses. Many employers have previously been covered by the car parking fringe benefit exemption due to the business turnover or the absence of a commercial parking station within 1km radius of the business premises. However, a change to the meaning of ‘commercial car park’, as announced by the ATO in a recent ruling may impact car parking Fringe Benefits Tax (FBT) liabilities for affected businesses.
Are we getting closer to mandating Covid 19 vaccination in workplaces?
Recently, the Federal Government announced that it would become mandatory for employees in residential aged care to be vaccinated for Covid 19 to be able to continue to work in those settings. All workers in these settings must have had, at least their first dose of a vaccine by a date to be set in September 2021.
ASIC changes to allow for certain AFS licensees to use lease assets to fulfil their licence financial requirements
From 28 April 2021, changes have been made to the financial requirements for some types of Australian Financial Services (AFS) licensees relating to the treatment of leased assets.
Supply chain resilience initiative grants program
This month, the Australian Government launched their $107million Supply Chain Resilience Initiative Grants Program to equip Australia to respond to future supply chain disruptions.
Ignite Ideas round 8 now open
This month the Queensland Government opened applications for grants under their Advance Queensland Ignite Ideas Fund.
Income protection insurance policy changes: the impacts and opportunities
By October 2021, all life insurance offices will cease to offer the current on-sale series of retail income protection products and migrate to offer policies designed to comply with a new series of ‘sustainability measures’ desired by the Australian Prudential Regulation Authority (APRA).
Greensill case prompts re-think of discretionary trusts as foreign investment vehicles
Has the death knell been rung for non-residents investing in non-real estate assets via Australian discretionary trust structures?
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.
