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Business

Review of 2020, outlook for 2021 – from Pandemic to Recovery

Review of 2020, outlook for 2021 – from Pandemic to Recovery

Key points 2020 was dominated by the Coronavirus pandemic but shares saw okay returns on the back of policy stimulus and vaccine optimism, resulting in constrained but positive returns for balanced growth super funds. For 2021, the combination of massive policy stimulus and the prospect of vaccines allowing a return […]

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JobKeeper – Easing eligibility

JobKeeper – Easing eligibility

More businesses and not-for-profits will be eligible for JobKeeper payment extension under a $15.6 billion change to the scheme announced on August 7.  The Government initially outlined the JobKeeper extension guidelines on July 21 but says it needs to extend its criteria after the Victoria Government implemented stricter lockdowns across […]

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Extension of the JobSeeker program

Extension of the JobSeeker program

The Government is extending the Coronavirus Supplement to eligible recipients to 31 December 2020. The amount of the Supplement will be adjusted to reflect the gradually improved economic conditions and improving labour market. Both existing and new recipients eligible for the Coronavirus supplement will continue to be $550 per fortnight […]

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JobKeeper changes announced

JobKeeper changes announced

The JobKeeper Payment has been extended by a further six months to March 2021, targeting support to those organisations which continue to be significantly impacted by COVID-19. From 28 September 2020, eligibility for the JobKeeper Payment will be based on actual turnover in the relevant periods. The payment rate will […]

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JobTrainer skills package

JobTrainer skills package

The Australian Government will invest $2 billion to provide hundreds of thousands of Australians with access to new skills by retraining and upskilling them into sectors with job opportunities, as the economy recovers from COVID-19.  The JobTrainer package has two aspects to it. The first aspect of the package, which […]

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Instant asset write-off extended

Instant asset write-off extended

To further support Australian businesses through the fallout resulting from COVID-19, the government has extended the $150,000 instant asset write-off for an additional six months to 31 December 2020.  Initially announced on 12 May and intended to last until 30 June, the government’s $17.6bn stimulus package in part temporarily increased […]

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Commercial tenancies rent relief package

Commercial tenancies rent relief package

On April 7, the Government announced new commercial rental waivers and deferrals for tenants that have been severely impacted by the coronavirus crisis. The draft Code of Conduct is to impose a set of ‘good faith leasing principles’ and intended for landlords and tenants to share a proportionate financial risk […]

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Economic Stimulus Package – Boosting cash flow for employers

Economic Stimulus Package – Boosting cash flow for employers

An economic stimulus package is being put in place to support businesses to manage cash flow challenges and assist them retain their employees to continue to stay viable through the coronavirus crisis. The Government is providing tax-free cash flow boosts between $20,000 and $100,000 to eligible businesses delivered through credits […]

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Accelerated depreciation deductions to benefit businesses

Accelerated depreciation deductions to benefit businesses

The Government has accelerated depreciation deductions for the next 15 months. Up until June 30, 2021, businesses turning over less than $500 million will be able to deduct 50 per cent of the cost of any eligible asset the moment it’s installed. It’s predicted these two tweaks to the investment […]

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Support for business investment

Support for business investment

The government is loosening the criteria around the instant asset write-off. Pre-Coronavirus, businesses with a turnover of up to $50 million could instantly write-off the purchase of assets costing up to $30,000. Post-Coronavirus, businesses with a turnover of up to $500 million can write off asset purchases of up to […]

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The JobKeeper Program: Help for businesses

The JobKeeper Program: Help for businesses

The Australian Government has announced unprecedented assistance to help businesses of all sizes manage their cashflow and retain their employees. The six-month JobKeeper Payment of $1,500 a fortnight per employee is made through the tax system and is available to small, medium and large businesses, and not-for-profits. Legally employers must […]

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