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The removal of Special Purpose Reporting
For many years, directors of for-profit private entities have enjoyed the liberty of determining the type of financial statements that they will prepare for an entity. This discretion to prepare an often much less detailed set of Special Purpose Financial Statements (SPFS) to meet their reporting requirements is soon to be removed.
Do you employ an Army, Navy or Air Force Reservist? If so, do you know your obligations as an Employer?
Mazars HR is proudly an employer who supports Defence Reservists. In our experience, the benefits far outweigh the responsibilities, even though having your valued employees absent from time to time can be a challenge.
COVID-19 implications for M&A transactions
Extended periods of volatile economic and market conditions have been shown to reduce M&A activity. As the coronavirus disease 2019 (or Covid-19) plagues the world, sectors such as manufacturing, tourism, energy, retail and transport are hit hard by the loss of revenue.
Mazars promotes two new Partners in Melbourne Office
Mazars is delighted to announce the promotion of two new partners in our Melbourne office. These promotions reflect our commitment to developing the careers and capabilities of our people across the firm to deliver the right solutions to grow and protect the wealth of our clients.
FBT Taxi Exemption extended to Ride Sharing
Export Market Development Grant Open
Austrade’s Export Market Development Grant (EMDG) Scheme for the 2020 financial year is now open. The EMDG aims to encourage small and medium sized Australian businesses to develop export markets through increased international marketing and promotional activity.
ATO Announcement: June Jobkeeper Payments Assessable in 2021 Income Year
The ATO has confirmed that JobKeeper payments for fortnights ending in June 2020 will be assessable in the following 2020-21 income year.
Fair Work Commission releases 2020 wage decision
On 19 June 2020 the Fair Work Commission (FWC) released its 2020 wage decision. A 1.75% increase will be applied to Award rates and to the national minimum rate. The increase of 1.75% is lower than the latest CPI figure of 2.2%. The minimum weekly wage will move to $753.80 per week or $19.84 per hour which is a weekly increase of $13.
Director Identification Numbers to be issued for all company directors
The Government recently passed Bills to amend the Corporations Act 2001 to introduce a ‘Director Identification Number’ (DIN).
Round Two for $10,000 Small Business Adaption Grant
The Queensland Government announced a second round of funding for the $10,000 Business Adaption Grant Program with applications opening on 1 July 2020, funding will be approved on a first come first served basis until the $100 million pool is allocated.