Browsing Archive

April, 2020

Can you dismiss an employee during the COVID pandemic
Business

Can you dismiss an employee during the COVID-19 pandemic?

By On 30 April 2020

Despite unprecedented circumstances, employers still need to consider the requirements of dismissal under the Fair Work Act when ending employment to avoid legal action against them. When dismissing or standing down employees… Read More

SMSF Government support available
Super

SMSF Government support available

By On 30 April 2020

The Government’s economic response to coronavirus will provide SMSFs and their members with additional support, including reducing minimum drawdown rates and early release of superannuation. The minimum annual payment required for account-based… Read More

FBT exemptions to keep in mind during the coronavirus crisis
Tax

FBT exemptions to keep in mind during the coronavirus crisis

By On 30 April 2020

In emergency situations like the COVID-19 pandemic, there are certain benefits you can provide your employees or their associates which may be exempt from fringe benefits tax (FBT). The fringe benefits tax… Read More

Ways you can save money during the COVID pandemic
Money

Ways you can save money during the COVID-19 pandemic

By On 30 April 2020

The COVID-19 pandemic is proving to be not only a major health concern for the global population, but also a huge financial concern for businesses and individuals alike. In a time of… Read More

JobKeeper payment scheme the next steps you need to take
Business

JobKeeper payment scheme: the next steps you need to take

By On 30 April 2020

Businesses wishing to use the JobKeeper payment scheme may find themselves running into many logistical uncertainties, as claiming the JobKeeper payment scheme can be a complicated and risky process. Here are the… Read More

New ‘shortcut method’ available to claim WFH deductions
Tax

New ‘shortcut method’ available to claim WFH deductions

By On 21 April 2020

COVID-19 is forcing many businesses to work from home, meaning that you now have to pay for expenses such as heating and lighting that were previously covered by employers. The ATO has… Read More

How to manage longevity risk with your superannuation
Super

How to manage longevity risk with your superannuation

By On 20 April 2020

Longevity risk is a common and important factor to consider when planning for your retirement funds. Longevity risk refers to the risk of outliving your savings and arises as people enter retirement,… Read More

How will the NSW billion coronavirus stimulus package affect you
Business

How will the NSW $1.6 billion coronavirus stimulus package affect you?

By On 16 April 2020

As a result of the coronavirus outbreak in NSW and a decline in economic activity throughout the state, on 17 March 2020, the NSW government announced its own $2.3 billion coronavirus stimulus… Read More

It’s time to set up your myGovID
Tax

It’s time to set up your myGovID

By On 9 April 2020

If you haven’t set up your myGovID yet, you need to do it before you can lodge your next business activity statement (BAS). AUSkey, including Manage ABN Connections, will be replaced by… Read More

Should you withdraw from your super funds to cope with COVID
Super

Should you withdraw from your super funds to cope with COVID-19?

By On 8 April 2020

Under the coronavirus stimulus package released and revised by the Australian Federal Government on 22 March 2020, individuals in financial trouble due to the negative economic impacts of COVID-19 will be able… Read More