Category

News
1. Personal income tax changes 1.1 Changes to personal income tax rates The Government has announced that it will bring forward changes to the personal income tax rates that were due to apply from 1 July 2022, so that these changes now apply from 1 July 2020 (i.e., from the 2021 income year). These changes…
Read More
  The Federal Budget, set to be released on October 6, will introduce new rules allowing small businesses at the risk of collapse to trade whilst insolvent. The insolvency measures will constitute one of the non-spending structural reforms to be contained in the October 6 Budget and will borrow from items contained in the United…
Read More
Interim Allocations   The government has recently announced interim allocations for the below visas, prior to the Federal Budget on 6th October 2020. To date however, NSW for example, is still not accepting nominations for the s190 or 491 visa. State or Territory subclass 190 subclass 491 & 489 Business And Investment visas  ACT 250…
Read More
SUPERANNUATION GUARANTEE RATE INCREASE UPDATE   Recently, arguments both for and against increasing the rate of compulsory superannuation guarantee (‘SG’) have continued to be tossed around! The SG is the compulsory amount of superannuation an employer must pay into an eligible employee’s chosen super fund. The rate of SG has been frozen at 9.5% of an employee’s…
Read More
Latest Covid-19 Developments The Federal government has released details of recent developments in the migration sector as a result of the COVID-19 pandemic:   Travel exemption requirements for individuals in critical sectors or with critical skills An individual exemption may be granted if you are a non-citizen: travelling at the invitation of the Australian Government…
Read More
On 21 July 2020, the Government announced that the JobKeeper Payment (‘JKP’) would be extended until 28 March 2021 (i.e., for a further six months beyond its original end date of 27 September 2020). As a result, JKPs would now be made over two separate extension periods, being: Extension period 1 – which covers the…
Read More
TREASURY LAWS AMENDMENT (2020 MEASURES NO 3) BILL 2020 Treasury Laws Amendment (2020 Measures No 3) Bill 2020 has passed both Houses of Parliament and is now law. EXTENDING THE INSTANT ASSET WRITE-OFF This legislation amends the income tax law to allow a business with an aggregated turnover for the income year of less than…
Read More
Migration Planning Levels for 20/21 Financial Year as a result of COVID – 19 pandemic   As a result of the COVID-19 pandemic, the Federal Budget has been deferred until 4 October 2020. This has significant implications for all government departments dependent on the financial allocations made as part of the Budget decisions, including the…
Read More
A new round of applications for the NSW government’s Small Business Recovery Grants are now open to help businesses safely relaunch their operations. The grant is designed to help fund businesses’ marketing and advertising expenses as well as any interior changes and staff training to ensure a Covid-19 preventative work environment. Roughly $260,000 worth of…
Read More
In the past year, the Federal Government has introduced legislation to minimise illegal phoenixing activities by company directors. As part of the Government’s new legislation, all company directors, including foreign and alternate directors, are required to obtain and hold a Director Identification Number (DIN). The introduction of DINs has been on the Government’s agenda since…
Read More
1 2 3