$1500 JobKeeper Subsidy to Keep Staff Employed My business received a grant from the State Government. Do I pay tax on it? Short answer; probably. Income tax – Grants are likely to be taxable unless they are specifically excluded from tax. If the grant...
forecasting during a pandemic How do you plan for uncertainty when every assumptions is subject to change? Now, more than ever, business operators should have a plan in place to manage during uncertain times. Even if your business is not directly impacted, it’s likely...
JobKeeper alert With the employee test date for JobKeeper moved to 1 July 2020, some additional employees might have become eligible for JobKeeper. The August JobKeeper monthly business declaration is due by 14 September and is different to the previous form as...
Has covid-19 devalued your business If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business. But, to what degree does the pandemic impact on value? Should you discount or hold firm to pre...
COVID-19 and Your smsf COVID-19 has had an impact on many SMSFs. We look at the key issues. Early release of superannuation When a member of your fund wants to access up to $10,000 of their superannuation early under the COVID-19 measures, there are some...
1 July company tax rate reduction Despite the current economic environment, the company tax rate will reduce to 26% for small and medium businesses from 1 July 2020. 2018-19&2019-20 2020-21 2021 – 22 Base rate entities 27.5% 26% 25% Other corporate...
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