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COVID-19: Stage 2 of NSW Economic Stimulus Package
On 27 March 2020 the New South Wales Government released the second stage of its economic package aimed at keeping people in jobs, helping businesses and supporting the most vulnerable during the COVID-19 crisis. The package supplements the first stage announced on 17 March 2020.
The key elements of this package are to provide for the deferral of payment of payroll tax liabilities and other state based taxes and levies.
The key elements of this package are to provide for the deferral of payment of payroll tax liabilities and other state based taxes and levies.
Fair Work Commission announces temporary changes to Clerks - Private Sector Award 2010
The unprecedented circumstances imposed on us by COVID-19 has necessitated innovative solutions. The Fair Work Commission (FWC) has been working with parties to facilitate greater flexibility in working and leave arrangements.
COVID-19: What to know when preparing to talk to your bank
Businesses and the community as a whole are bearing the brunt of COVID-19 with the mental, physical and financial impacts starting to hit hard. At Mazars, we’re actively talking with our clients and encouraging them to contact their Bank to start the process of putting in place plans to preserve cashflow and protect their staff, business and assets.
COVID-19: QLD Payroll Tax relief updates see increased deferrals and refunds
On 23 March 2020, the Queensland Premier announced an update in relation to the QLD Payroll Tax relief package that was originally proposed on Friday 20 March 2020.
This update provides further deferrals and refunds of payroll tax debt that have already been paid.
This update provides further deferrals and refunds of payroll tax debt that have already been paid.
Super Guarantee Charge Amnesty – welcome news but action required!
The super guarantee amnesty has now become law, which is welcome news for anyone caught up in the complicated compliance rules for late employer super payments. Be aware that the amnesty is for a limited period and timely action is required to be able to participate.
ASIC priorities affecting the financial services sector in 2020
The Australian Securities & Investments Commission (“ASIC”) has been vocal and consistent in their delivery of information for participants in Australia’s financial services sector. As part of their continued response to the fallout from the Hayne Royal Commission, ASIC Deputy Chair, Ms Karen Chester, recently addressed the four lines of defence for consumers of financial services.
Changes to Salary Sacrificed Super Contributions – Are you prepared?
Effective from 1 January 2020, new legislation has been introduced which means that salary sacrificed superannuation contributions cannot be used to reduce an employer’s mandated superannuation guarantee (SG) obligations. If you previously excluded salary sacrificed superannuation contributions from your SG calculations, you will need to review your position prior to paying your March quarter contributions (due by 28 April) to ensure your business is compliant.
New stimulus package supports business resilience and recovery during coronavirus (COVID-19) pandemic
The Australian Government has responded to concerns of the economic impact surrounding the Coronavirus outbreak and has released a stimulus package aimed to support confidence, employment and business. The stimulus package is designed to provide support and assistance in the areas of business investment, business cash flow, lower income households and severely affected communities and regions.
NSW Land Tax Surcharge – Discretionary Trust Planning Still Possible
The NSW Government has kept two planning opportunities available for discretionary trusts hoping to avoid the 2% land tax surcharge on residential land. One is expected, the other is surprising.
Aged Care – What you ought to know
Most people want to remain independent throughout retirement and to stay in control of where and how they live. But your ability to do so may depend on your health and physical well-being. As we age, some things become harder to do on our own.