Category Archives: Accounting Information

$5,000 grants for business and charities

The Victorian Government recently introduced the Business Support Fund – Expansion, in response to the present Stage 3 “Stay at Home” restrictions announced in Victoria.  This program is a modified version of the previous $10,000 Business Support Fund grant, and … Continue reading

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Help available for holiday accommodation providers

In response to the recent COVID-19 lockdown in Victoria, the State government has announced a support program for holiday accommodation providers.  The Tourism Accommodation Support Program applies to eligible accommodation providers, including hotels, motels, caravan parks, camping grounds and private … Continue reading

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Director Identification Numbers are coming soon

If Elvis Presley or Bob Marley wanted to register as a company director in Australia, could they? That was the question asked by Senator Peter Whish-Wilson to ASIC commissioner John Price, during a meeting of the Parliamentary Joint Committee on … Continue reading

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More flexibility for Parental Leave Pay from 1st July 2020

From 1 July 2020, parents accessing the Government’s parental leave pay (PPL) scheme will have greater flexibility and options.  The changes introduce a new flexible paid parental leave pay period of 30 days, assisting the self-employed and small business through … Continue reading

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Instant Asset tax write-off extended

The Instant Asset Write-off, which was enhanced as part of the Federal Government’s COVID-19 stimulus measures, and was due to end on 30th June 2020, has been extended to 31st December 2020.  This tax incentive provides a 100% tax deduction … Continue reading

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The $25,000 HomeBuilder Grant

The Government has announced tax-free  grants of $25,000 to encourage eligible owner-occupiers, including first home buyers, to build a new home or substantially renovate their existing home.  It is not accessible to owner builders, developers or investors. Individual eligibility To … Continue reading

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$10,000 Victorian Government Grant – ending soon

The Victorian State Government Business Support Fund, which allocated $500m in financial assistance to small businesses and charitable organisations that employ staff and have been impacted by COVID-19, will close Next Monday 1st June 2020. The fund, which was initially … Continue reading

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JobKeeper up and running

The ATO will soon begin to make JobKeeper payments to eligible businesses.  More than 400,000 businesses have enrolled covering around 2.4 million employees, but with many more still to join, the ATO has announced an extension to the registration date … Continue reading

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Support for employers and self employed

The Federal Government today announced the introduction of the JobKeeper Payment, designed to assist employers in paying employees during the present difficult economic climate. What is it? This is essentially a flat $1,500 fortnightly payment (per eligible employee) to eligible … Continue reading

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Economic stimulus measures announced

The Federal government today announced a series of significant measures to help stimulate the economy, in light of the economic impact of the Coronavirus. The following is a summary of the measures, particularly as they apply to business. These are … Continue reading

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