JobKeeper On the 8th April the JobKeeper legislation was passed and received royal assent the following day. The key points of the legislation are summarised below: Applies to all eligible…
The Government announced on 22 March will provide tax-free cash flow boosts of between $20,000 and $100,000 to eligible businesses, delivered through credits in the activity statement system, when eligible businesses lodge their activity statements.
NSW Premier Gladys Berejiklian has now committed $450 million to waive the payroll tax for businesses with payrolls of up to $10 million for three months ending 30 June 2020.
On Sunday 22 March 2020 the Government released a second, far reaching $66.1 billion stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws.
The government’s goal with the stimulus package is to protect the economy and to maintain confidence by supporting investment and keeping people in their jobs.
The federal government has updated the classification system used to determine doctors’ eligibility for rural Bulk Billing Incentives effective from January 2020.
Service Entity arrangements are just one method of remuneration by Medical Practices to Medical Professionals. There are many other methods Medical Practices used to pay Doctors and the income tax and GST treatment is very different depending on the nature of the arrangement.
The investment strategies of Self-Managed Superannuation Funds (SMSFs) are under scrutiny with the Australian Taxation Office (ATO) contacting 17,700 trustees about the lack of asset diversity.