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FBT Taxi Exemption extended to Ride Sharing
Export Market Development Grant Open
Austrade’s Export Market Development Grant (EMDG) Scheme for the 2020 financial year is now open. The EMDG aims to encourage small and medium sized Australian businesses to develop export markets through increased international marketing and promotional activity.
ATO Announcement: June Jobkeeper Payments Assessable in 2021 Income Year
The ATO has confirmed that JobKeeper payments for fortnights ending in June 2020 will be assessable in the following 2020-21 income year.
Fair Work Commission releases 2020 wage decision
On 19 June 2020 the Fair Work Commission (FWC) released its 2020 wage decision. A 1.75% increase will be applied to Award rates and to the national minimum rate. The increase of 1.75% is lower than the latest CPI figure of 2.2%. The minimum weekly wage will move to $753.80 per week or $19.84 per hour which is a weekly increase of $13.
Director Identification Numbers to be issued for all company directors
The Government recently passed Bills to amend the Corporations Act 2001 to introduce a ‘Director Identification Number’ (DIN).
Round Two for $10,000 Small Business Adaption Grant
The Queensland Government announced a second round of funding for the $10,000 Business Adaption Grant Program with applications opening on 1 July 2020, funding will be approved on a first come first served basis until the $100 million pool is allocated.
How to prepare for June 30 and what you should consider
As we edge closer to 30 June, business owners should take the time to estimate how the 2019/2020 year will end up, take a snapshot of the year and determine what tax liability is likely to result and most importantly what the options are to minimise those liabilities.
2020 Year End Tax Planning Guide
2020 Year End Superannuation Planning Guide
Greensill Decision causes Angst for non-resident investors
The Federal Court of Australia recently handed down a decision which may alter the way tax non-residents structure their investments into Australia in the future.