The Victorian Government recently announced further rounds of the Business Support Fund grants under its Business Resilience Package, providing some financial support to Victorian based businesses impacted by the Victorian COVID-19 restrictions. The following are the two latest and current active business grants: 1. Victorian Business Support Fund – Third Round On 13 September 2020,
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The Coronavirus Economic Response Package (Payments and Benefits) Amendment Rules (No 8) 2020 (the “New Rules”) extend the JobKeeper scheme from 28 September 2020 to 28 March 2021. Under the New Rules, there are two separate extension periods. For each extension period, an additional “actual decline in turnover test” applies and the rate of the
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The Government has today announced further changes to the extension to the JobKeeper Payment until 31 March 2021 to make it easier for employers effected by COVID to qualify. In summary: The changes announced today – The relevant employment date for eligible employees moves from 1 March 2020 to 1 July 2020 To qualify for the
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This Client Alert is relevant to Clients with an Australian Self Managed Superannuation Fund (SMSF). At the end of each financial year Blaze Acumen reviews and considers current audit and ATO issues and how these are relevant to you and your SMSF. As the SMSF trustee, or director of a corporate trustee, you are required
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The Australian Government recently introduced legislation requiring all company directors, including foreign and alternate directors, to obtain a Director Identification Number (DIN). Every director will have one unique number that will link that director with each company they are appointed. The application process and register of DINs will be controlled by the Australian Securities and
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The Government has today announced an extension to the JobKeeper Payment until 31 March 2021. In summary: To continue to participate after 28 September 2020, employers need to reassess their eligibility for the JobKeeper extension with reference to their actual turnover in the June and September quarters 2020. Organisations will need to demonstrate that they have
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As a result of the re-prioritisation of Government resources and the shortened parliamentary sitting period in 2020 due to the COVID-19 crisis, the Government has announced revised start dates for a number of taxation and superannuation measures. These measures are as follows: Further updates will be provided on the above measures as they are announced.
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We note that the previous version sent contained incorrect information. This has now been updated and we apologise for the inconvience. __________________________________________________________________________________________________________________________________________ The year ending 30 June 2020 marks the first year that it is possible for those who meet certain conditions to make concessional contributions in excess of the regular cap of $25,000 per
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Topics covered in this edition of our Client Information Bulletin are: COVID-19 stimulus measures Superannuation measures Social Security measures Other federal government measures What is the ATO doing? State and Territory Coronavirus measures ATO bushfire support Super guarantee amnesty Key tax dates Click here to DOWNLOAD CIB – May edition 2020
The Australian Government has announced an incentive for Private Ancillary Funds (PAFs) and Public Ancillary Funds (PuAFs) to provide more support to donation recipients during the COVID-19 pandemic period. According to the Government’s media release on 6 May 2020, a recent report by JB Were estimates that COVID-19 may have impacted charitable giving, seeing donations
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