Archive for July 2020
JobKeeper: Extension and Eligibility to March 2021
The government has today announced an extension to the JobKeeper Payment, as well as changed business eligibility terms. Extension period The scheme is being extended beyond the original date of 27 September 2020 to 28 March 2021. Changes to the payment For the October-December Quarter there will be a 2-tier entitlement: $1200 per fortnight for…
Read MoreUsing your company’s money or assets
If your business is fortunate to have some cash set aside that could be invested into your people or your business assets, there are a couple of things you should check before making any transactions. Any cash transfer to an individual from the company needs to be properly processed as salary, wages, director’s fees or…
Read MoreJuly 2020: Changes to tax and pay that you need to know
This new financial year in the age of COVID-19 brings a number of changes to help relieve some pressure for businesses and workers alike… COVID-19 PAYG withholding credits Businesses with turnover below $50 million will be handed a second round of credits, with varying amounts from $10,000 to $50,000 handed to eligible employers based on…
Read MoreHow much do you need for a comfortable retirement?
Retirees aren’t the only ones to benefit from knowing this. It is also extremely helpful for anyone of working age to be aware of these figures and build up investments to reach them. The Association of Superannuation Funds of Australia has helpfully created a guide and annual budget for a modest versus comfortable lifestyle. The…
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