The October 2020 Budget was being built up by many as a budget for the ages. In reality there was good news for individual taxpayers who will receive tax cuts and for welfare recipients who will receive two additional payments […]
The 2020 – 2021 Federal Budget – Individuals: What is in it for you?
October 7th, 2020 Posted by admin Businesses, Federal Budget No Comment yet
The 2020 – 2021 Federal Budget – Businesses: What is in it for you?
October 7th, 2020 Posted by admin Businesses, Federal Budget No Comment yetWhile the Government has invested a significant amount of money through JobKeeper to encourage and assist businesses to maintain its workforce and keep people employed, this Budget was a little disappointing for businesses[…]
Victorian Business Support Fund
September 15th, 2020 Posted by admin B&W Additions News, Individuals, Jobkeeper Payment, News, Pension, Retirees, Superannuation No Comment yetOver the weekend the Victorian Government release details of another round of the Business Support Fund to assist ease the financial burden being felt by many businesses in Victoria that are being adversely impacted by the ongoing lock downs[…]
Extension of the JobKeeper Scheme
July 22nd, 2020 Posted by admin B&W Additions News, Individuals, Jobkeeper Payment, News, Pension, Retirees, Superannuation No Comment yetThe Government announced on 21 July 2020 that they will be extending the JobKeeper scheme for another six months. Payments dates for the JobKeeper scheme when originally announced were to 27th September 2020. Due to the continued deterioration of the economy and the community spread of COVID-19 the scheme will now run until 28 March 2021[…]
2020 Tax Planning Businesses
May 26th, 2020 Posted by admin B&W Additions News, Businesses, News, Non Concessional Contributions, Superannuation, Tax Planning, Taxation Measures No Comment yet2020 has been a difficult year for Australian businesses across all sectors when you consider that we started with a drought, then experienced extreme bush fires and topped it off with the COVID-19 pandemic[…]
2020 Tax Planning – Individuals
May 25th, 2020 Posted by admin B&W Additions News, News, Non Concessional Contributions, Superannuation, Tax Planning, Taxation Measures No Comment yet2020 will be a year none of us forget and everybody’s attention has been on lockdown rules, number of infections and their daily movements, stock market volatility and the value of your superannuation[…]
Retail and Commercial Tenancies
May 7th, 2020 Posted by admin B&W Additions News, News, Retail and Commercial Tenancies No Comment yetThe Victorian Government has released the regulations that govern the relationship between commercial landlords and their tenants (being small to medium sized businesses with an annual turnover of up to $50m and eligible for the JobKeeper Payments) commencing with effect from 29 March 2020 and ending on 29 September 2020[…]
Things to know about the JobKeeper Scheme
April 27th, 2020 Posted by admin B&W Additions News, Individuals, Jobkeeper Payment, News, Pension, Retirees, Superannuation No Comment yetThe ATO is now accepting applications from employers to participate in the scheme. It feels like everyday we are getting more guidance on how the scheme will operate and new rules on eligibility of employers[…]
JobKeeper Scheme – Alternative Decline in Turnover Tests
April 27th, 2020 Posted by admin B&W Additions News, Employers, Individuals, Jobkeeper Payment, News No Comment yetOne of the main eligibility rules to become an eligible employer under the JobKeeper scheme is to be able to demonstrate that the businesses turnover has declined by more than 30% (where the business’ aggregate turnover was less than $1.0b) to a comparable period[…]
Early Release of Superannuation on Compassionate Grounds – How to Apply
April 20th, 2020 Posted by admin B&W Additions News, Individuals, News, Pension, Retirees, Superannuation, Superannuation Update No Comment yetOne aspect of the Australian Government’s stimulus package was allowing individuals adversely affected by the economic effects of the Corona Virus to access up to $10,000 of their superannuation monies in both the 2020 financial year and the 2021 financial year[…]