For all the latest information
JobMaker Hiring Credit Scheme - 11th January 2021
To encourage employers to create new jobs for job seekers the Government has legislated the JobMaker Hiring Credit Scheme that applies to employers who employ new employees from 7 October 2020, provided that both the employer and employee meet all the eligibility requirements.
Under this incentive eligible employers will be paid a $200 weekly incentive payment for each eligible new employee aged 16 to 29 years, or for new employees aged 30 to 35 years the payment is $100 per week.
A number of requirements must be met by employers, including in relation the ‘baseline’ headcount and payroll amount, and employees, including that they must have received either the Parenting Payment, Youth Allowance or JobSeeker Payment for a period prior to starting employment. In addition, eligible employees will need to complete a written declaration to confirm that they are eligible for this scheme, see the ‘JobMaker Hiring Credit Employee Notice’ below:
Federal Budget Update 2021 - 7th October 2020
The Federal Government tabled their proposed 2020-2021 Budget with a focus on stimulating jobs and the economy post Covid-19. The Budget is largely positive for both individuals and business taxpayers for the upcoming year and includes a raft of spending measures aimed at getting everyone to spend, with the ultimate aim of thereby generating jobs. However the result of this proposed Budget is a deficit of $213.7 billion. The key measures of the Budget are outlined below.
JobKeeper 2.0 - 16th September 2020
The JobKeeper 2.0 rules were released on 15th September 2020 to extend the subsidy and to implement a new 2-tiered payment system and decline in turnover test.
JobKeeper Extension Rules Relaxed - 14th August 2020
On 7 August 2020 the ATO announced further changes to the Jobkeeper Payment scheme, a summary of the new rules is attached.
JobKeeper to Continue - 22nd July 2020
Please see below a summary of recently announced changes to the Federal Government JobKeeper payment concessions.
HomeBuilder Subsidy Fact sheet - 17th June 2020
See below for HomeBuilder Subsidy Fact sheet.
2020 Year End Tax Planning Checklist - 3rd June 2020
See below for 2020 Year End Tax Planning Checklist.
It May be a Good Time to Review your Bank Loans to Secure Savings - 30th April 2020
See below for It May be a Good Time to Review your Bank Loans to Secure Savings information.
Commercial Tenancies (COVID-19 Response) Bill 2020 - 30th April 2020
See below for Commercial Tenancies (COVID-19 Response) Bill 2020.
JobKeeper - Seven Step Process - 23rd April 2020
See below for JobKeeper seven step process.
JobKeeper Guide for Employers by Employinsure - 19th April 2020
See below for JobKeeper guide for employers by Employinsure
SME Commercial Rental Relief During Covid-19 - 19th April 2020
See below for SME commercial rental relief during Covid-19
Checklist of Covid 19 Measures - 17th April 2020
See below for a detailed checklist of Covid-19 Measures
JobKeeper Scheme - 17th April 2020
On 9th April 2020, the Treasurer released the Coronavirus Economic Response Package (Payments and Benefits) Rules 2020 which sets out the rules for administrating the JobKeeper scheme. You need to act now, as you must lodge before 26th April 2020 to claim the first two fortnightly payments!
Business Financial Continuity 10 Point Action Plan - 13th April 2020
See below for a business 10 Point Action Plan
Individual Financial Continuity 10 Point Action Plan - 13th April 2020
See below for an individual 10 Point Action Plan
Thinking About Deferring Loan Repayments? - 13th April 2020
As we grapple with the loss of incomes, many will look to the banks for the repayment holidays being offered by lenders.
Investment Strategy Approach - 13th April 2020
It is prudent to review your investment portfolios and speak to your independent specialist investment advisor if you have one. It is important not to panic and rather, make well considered decisions that are aligned with your long-term plans and your particular circumstances.
Client Alert: Cash Saving Measures - 30th March 2020
A number of measures have been announced by the Federal and State Governments, the Banks and also the ATO to support individuals and small business taxpayers to preserve and manage their cash flows over the coming months.
Government Guarantee Loan Application - 30th March 2020
Steve Vicary, our Director of Maxim Private Finance provides some current commentary on the $250k government backed small business loan initiative.