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    COVID-19 – Impacts on Fringe Benefits Tax (FBT)

    May 25, 2020

    Income tax law changes due to employees working from home. CODIV-19 has accelerated the working from home movement for many businesses fortunate enough to be able to work through the pandemic. What was once an option for certain people that comes under the umbrella of flexible work policies has suddenly become the norm for the […]

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    Business Advisory

    COVID-19 – JobKeeper Alternative Test Summary

    April 24, 2020

    Alternative test for determining eligibility for JobKeeper wage subsidy On Thursday 23 April, the Australian Taxation Office released their legislative instrument outlining the details of the “alternative test” for determining eligibility for the JobKeeper wage subsidy program. The basic test is simply comparing turnover from a current period to the same period 12 months ago. […]

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  • Business Advisory

    COVID-19 Coronavirus Economic Response – JobKeeper Application

    April 17, 2020

    JobKeeper applications open 20 April 2020 Application and enrolment for the JobKeeper program opened on Monday 20 April through ATO online platforms. Over the past week we have now received the rules and explanatory material from Treasury outlining eligibility criteria and thresholds. Furthermore, the ATO has created their own webpage with some explanation and forms. […]

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    Tax

    COVID-19 Coronavirus Economic Response – JobKeeper Payment Update

    April 9, 2020

    JobKeeper scheme update as at 9 April 2020 Legislation for the JobKeeper payment successfully passed through Parliament on Wednesday 8 April. The legislation gives the Treasurer power to make rules in relation to the JobKeeper program. These rules have not been finalised in a legislative instrument yet but Treasury have released a number of useful […]

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    Tax

    COVID-19 Coronavirus Economic Response – Stage Two

    March 23, 2020

    Stage two of the Government’s response to COVID-19 Since our previous update on 13 March, the Federal Government has announced another series of measures aimed at supporting the economy through the COVID-19 pandemic. The Government described stage one as a stimulus and stage two this past weekend as a ‘safety net’. The official Treasury overview […]

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    Tax

    COVID-19 Coronavirus Economic Response

    March 13, 2020

    Learn more about the $17.6 billion economic stimulus package in response to the Coronavirus.  In addition to the obvious health threats, the COVID-19 coronavirus continues to dominate headlines, decimate financial markets, disrupt public events putting whole sporting leagues on hiatus and has now even closed borders. The economic impacts of this are already being felt and […]

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    Tax

    Director’s Personal Liability extends to GST from 1 April 2020

    March 4, 2020

    Company directors can now be held personally liable for unpaid GST, LCT, WET as well as Superannuation & PAYG.  One of the attractions of operating through a company is the separation a company can provide between the business operations and assets and the personal assets of the directors. This is often referred to as the […]

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    Tax

    What is the Taxable Payments Annual Report (TPAR) system and is it applicable to your business?

    October 16, 2019

    Your business may need to report the total payments made to contractors each year on the TPAR. Running a successful SME comes with a great sense of satisfaction however as Australian businesses are all too aware, it also comes with a heavy compliance load whether that be industry regulation, Fair Work, Occupational Health and Safety, […]

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  • Business money - Accru Melb
    Tax

    Federal Budget 2019: What’s in it for businesses?

    April 3, 2019

    Business Taxation Highlights In a pre-election Budget mainly focused on households, businesses have not been completely forgotten.  This year’s Budget focused on the smaller end of town, extending existing tax relief for small and medium businesses and expanding the instant asset write-off. Business Taxation Small and medium business The Treasurer was unequivocal in the Government’s […]

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  • Tax

    Federal Budget 2019: Changes for individuals & superannuation

    April 3, 2019

    Changes for individuals & superannuation With an Australian election due by 18th May latest, this year’s Federal Budget is an obvious election campaign platform. The Coalition has made it clear that their economic management over the last six years makes them worthy of re-election, along with the often repeated statement that they believe in lowering […]

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