Small Business COVID Hardship Fund – Now Enhanced
The Victorian Government has announced an increase in funding for the Small Business COVID Hardship Fund, increasing the amount of the grant from $10,000 to $14,000.
Are COVID-19 grants and funding tax free?
Most people would think that money provided by the Government to support people and business during a crisis would be tax free. Otherwise, it’s like giving money with one hand and then taking it away with the other, isn’t it?
New laws target sharing economy platforms
In an attempt to reign in undeclared income, proposed new laws will require platform providers in the sharing economy to report all transactions through their platforms.
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.
SMSF Funds now with 6 members
From the 1st of July 2021, Self-Managed Superannuation Funds (SMSFs) will be able to have up to 6 members - an increase on the previous limit of 4 members.
COVID-19 PAYG instalment variations
Taxpayers who are concerned about reducing their September 2020 tax instalments can be at ease following the ATO's updates on potential penalties.
Hospitality industry grant opens
Applications are now open for the Victorian Government’s “Outdoor Eating and Entertainment Package,” supporting Melbourne's hospitality industry.
Could this be your JobKeeper 2.0 lifeline?
Feeling stressed thinking you will miss out on the next phase of JobKeeper because you have failed the Decline in Turnover basic test? The next few paragraphs could be the stress-relief you need.
Victorian government grants – up to $20,000
The Victorian government has introduced the Business Support Fund 3 which provides Victorian businesses and charities with grants ranging from $10,000 to $20,000
The JobKeeper Extension
In late July 2020, the Federal Government announced an extension to the JobKeeper measure beyond its 27th September 2020 conclusion date, with further measures announced in light of the recent COVID19 restrictions imposed in Victoria.
Superannuation Amnesty ending soon
The deadline for the superannuation guarantee (SG) amnesty is ending soon. Employers need to act soon to take advantage of this concession.