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Jobkeeper 2.0 … New Rules and more

Carrying on an entity from 1 March 2020 An entity will still need to have carried on a business in Australia on 1 March 2020 to qualify for JobKeeper under the original rules or the expanded rules (the rules are a bit different for non-profit entities). An entity that commenced carrying on a business after … Read more Jobkeeper 2.0 … New Rules and more

Victorian Government $3 Billion in support

Over 2 days, the Victorian Government has announced two new support packages delivering over $3 billion in “cash grants, tax relief and cashflow support.” Grants Cash grants for SMEs “most affected by coronavirus restrictions” $822 million for the third round of Business Support Fund Grants of $10,000, $15,000 or $20,000 to businesses with payrolls of up to … Read more Victorian Government $3 Billion in support

Forecasting During a Pandemic

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 your customers, your supply chain, and your workforce will be to some extent. So, how do you plan for uncertainty when every assumption is subject to change? Understand … Read more Forecasting During a Pandemic

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 performance on the basis that ‘we’re going to come out of it eventually’? Fair … Read more Has COVID-19 devalued your business?

What now? Where to get help if you need it

Help for business JobKeeper 2.0 The Government has announced further changes to the JobKeeper scheme. The good news is that employees that missed out on JobKeeper because they were not employed on 1 March 2020 might now be eligible. The proposed changes would enable employees employed on 1 July 2020 to receive JobKeeper payments from … Read more What now? Where to get help if you need it

Jobkeeper 2.0 + New Changes

On Friday 14 August 2020, the Treasurer released the updated JobKeeper Rules dealing with eligible employees which apply from 3 August 2020 onwards. Specific rules dealing with JobKeeper 2.0 have not yet been released.  New test date for employees Under the original JobKeeper rules, an employee generally needed to have been employed by the entity at 1 … Read more Jobkeeper 2.0 + New Changes

$2.5bn JobTrainer package: What you need to know

The Government has announced the $2.5bn JobTrainer package to retrain, upskill and open new job opportunities. JobTrainer for job seekers and school leavers An additional 340,700 training places will be created to provide no or low cost courses into sectors with job opportunities. The Government is working with the States and Territories to develop a … Read more $2.5bn JobTrainer package: What you need to know

HomeBuilder Stimulus: What is it and how do you access it?

The Government has announced grants of $25,000 to encourage people to build a new home or substantially renovate their existing home. The HomeBuilder scheme targets the residential construction market by providing tax-free grants of $25,000 to eligible owner-occupiers, including first home buyers, to build a new home or substantially renovate their existing home. The grants … Read more HomeBuilder Stimulus: What is it and how do you access it?

The ATO’s JobKeeper audit targets

“…while it is all very well to talk of ‘turning points’, one can surely only recognise such moments in retrospect.” Kazuo Ishiguro, The Remains of the Day The JobKeeper subsidy has progressed beyond the rush for eligibility and entered its second phase: compliance. Late last month, the Australian Taxation Office (ATO) released guidance highlighting where … Read more The ATO’s JobKeeper audit targets

JobKeeper Tracking

Jobkeeper homework

We understand how hard it is to keep track of paying Employees, especially large teams, and working out who needs a top-up, who has or has not been paid enough to maintain JobKeeper eligibility. We’ve created this free Excel Template for you to track employees each fortnight simpler and easier for each fortnight. Part One … Read more JobKeeper Tracking

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