JobMaker, help your business take advantage by hiring. If your business is thinking of hiring new staff, now is the time. The Government will pay employers a subsidy of sorts for each eligible young worker employed over the next 12 months.
COVID-19 response from State government provides assistance to a range of their residents to soften the blow of the COVID-19 pandemic. Depending on which state you or your business is situated, there may be further help in the form of payroll tax deferrals or waivers, stamp duty discounts, land tax relief, grants, and extensions of tenancy protection measures.
Reduce car FBT liability with one simple change to operating cost method. Among the many unintended consequences of COVID-19, businesses that provide cars to their employees may now be on the hook for more FBT. Under the FBT regime, where an employee garages a work car at home, the business is deemed to be providing a car fringe benefit.
Changing business structure, some sectors of the economy are suffering, others are booming, if you’re lucky enough to have a small business in a rapidly growing sector, you may be considering a change from a relatively simple sole trader business structure to a more formal structure such as a company or a trust.
Government support for Victorians increased, if you or your business has been financially affected by the second lockdown in Victoria, don’t fret, the government has unveiled new support measures to get you through and on the road to recovery.
More employees now eligible for JobKeeper payments, there has been recent changes which extend the eligibility of the program so that more of your employees may be eligible. Employee eligibility has been changed to 1 July 2020 and individuals are also able to re-nominate a different eligible employer as at that date.
Director identification numbers are now law, to combat phoenixing and other black economy activities, a new regime of director identification numbers (DIN) will come into effect in the near future. The new regime requires all directors to confirm their identity and will be a unique identifier for each person who is a director or elects to become a director.