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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…
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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…
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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…
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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…
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The Federal Government has announced a $25,000 HomeBuilder tax-free stimulus grant. The stimulus is targeted at home owners to build new houses or renovate their existing ones. The grant is available where a contract is signed between 4 June 2020 and 31 December 2020. The Federal Government hopes this new HomeBuilder scheme will encourage home…
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Applications are drawing to a close for the Service NSW Covid-19 support grant of $10,000 for small business’s highly impacted from COVID-19 pandemic following the NSW Public Health Order on 30 March 2020. The grant is part of the NSW Government Small Business Support Fund. Applications are open until 11.59 pm Tuesday 30 June 2020. Eligibility…
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Amazon is growing at an exponential rate and has been expanding worldwide. There is no denying the opportunities of the US Amazon market reaching millions of American shoppers every day. The good news is selling on Amazon US is not just limited to US residents. The Benefit of Selling on Amazon US The major benefit…
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The Australian Taxation Office (‘ATO’) has announced a temporary simplified short cut method to make it easier for individual taxpayers to claim deductions for additional running expenses incurred (e.g., additional heating, cooling and lighting costs), as a result of working from home due to the Coronavirus pandemic. Refer to the ATO’s Media Release of 7…
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  The Federal Government has just announced a relief package for the child care and early childhood education sector (‘child care sector’). The relief package is designed to: • provide free child care to around one million families; and • ensure that as many of the child care sector’s 13,000 child care and early learning…
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  The following is a broad summary of the key aspects of the Federal Government’s stimulus package in response to the Coronavirus, as recently announced and enacted. The summary is based on information currently available on the Treasury website (refer to “Economic response to the Coronavirus”), as well as various Bills introduced into Parliament (and…
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