The ATO has announced that it will be actively reviewing entitlements by conducting cashflow boost audits and JobKeeper audits. At our accounting firm, we’ve seen this happen with several clients despite meeting eligible obligations, which has signalled that the ATO is very stringent on businesses meeting their obligations to receive the cashflow boost. Using Single…
JobKeeper audits will form a big focus for the ATO as JobKeeper 1.0 comes to an end. The ATO has assigned 3,000 staff to the review process of JobKeeper and Cashflow Boost with many accountants (including ourselves) expecting there to be some significant requests to prove eligibility for the program further. As the Federal Government…
As the NSW Government progressively lifts the restrictions on movement and business trading, this means businesses can now reopen. If you’re a small business or not-for-profit that has experienced a decline in turnover, you could be eligible for this Small Business Recovery Grant. To be eligible, you’ll need to meet specific criteria and apply with…
The Superannuation Guarantee Amnesty has been officially passed as law on 6 March 2020. With the introduction of Single Touch Payroll and several other increase reporting capabilities, the ATO has increased visibility in identifying any employers who have underpaid their super guarantee (SG). This means that if you’re an employer and you suspect that you…
The Federal Government has announced that it will be offering eligible Australian $25,000 to build or substantially renovate their homes known as the HomeBuilder scheme. The measure is expected to cost $680m. To find out more about the other government stimulus packages, check out our COVID-19 Business Resources Page and JobKeeper Resources Page. Eligibility Dates…
Last updated: 2 October 2020 JobKeeper 2.0 The Federal Government is set to extend JobKeeper for an additional six months until March 2021 but there will be reduced payments and retesting of eligibility after the current JobKeeper scheme runs out in September. This will involve a new measure of actual turnover change to become more…
Last updated: 14 May 2020 This page will serve as a collation of resources that can assist small businesses and contractors based in Australia who are affected by the COVID-19 pandemic. Due to the uncertain length of the pandemic, we highly recommend you review all of the available information to ensure you have a full…
Hopefully, things are in full swing by now with the festive season over! We’ve been back at work and going hard at it with the team to try and produce more great and unique content for you while also trying to run a professional services business too (it’s tricky!). Let’s get into this month’s tips:…
I’m excited to announce that I’ll be partnering with South-West Entrepreneurial Hub (SWEH) in conjunction with Fairfield City Council and DAWN Network for an intimate workshop on “Knowing Your Numbers”. DetailsTopic: ‘Knowing Your Numbers’Date: 3rd February 2020Location: The Workary – Whitlam Library, Cabramatta NSWTime: 6:30 PM Being from a migrant background and having parents who…
Hope you all had a wonderful Christmas and celebrated hard for the New Year! Most importantly, I hope you all had a chance to recharge, reflect and establish some goals for your businesses in the new year. I’ve spent the past week and a half reflecting and then knuckling down on some big goals I…
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