COVID-19 help for businesses: Rolling coverage of announcements
Rolling coverage of the help for small businesses, being released across Australia in response to the coronavirus (COVID-19). This is not about the number of cases or who has it, we are focusing on providing information on things that will help businesses operate through and beyond the crisis, particularly stimulus measures. read more
The Federal Government’s Stimulus Package to help Australia through COVID-19
The Federal Government has made two economic stimulus package announcements so far. These packages have now been legislated and most of the measures included have already taken effect. Below we go over the key measures to support businesses, then those to support individuals. read more
6 Key Steps for Contingency Planning in the Coronavirus Climate
It is as important for businesses to have a plan to manage any financial or operational flow on effects they may experience, as it is to have a plan to cope with necessary absences or leave required for self-isolation measures if COVID-19 is contracted by an employee, contractor or customer who has been onsite. read more
Proposed cash payments limit legislation remains before Parliament
We previously wrote about the Government’s move to limit cash payments from 1 January 2020 to amounts of up to $10,000. This has not yet been legislated. The relevant bill, the Currency (Restrictions on the Use of Cash) Bill 2019, has passed through the House, but remains before the Senate. A report from the Senate Economics Legislation Committee is due on 28 February 2020. read more
Director identification number legislation re-introduced
The new bill contains three key differences to the original scheme: 1 - Timing of director identification number (DIN) applications, 2 - Effective resignation date, 3 - Sole director. read more
Tax offsets and why the recent personal income tax cuts don’t necessarily give you cash back
The fact is that the changes to the personal income tax was in the form of tax offsets, rather than straightforward cash payments to tax payers. What this means is that first, you have to have a tax liability to benefit from the changes. read more

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