The Victorian Government recently announced the extension of land tax reduction and deferral relief measures to 2021 land tax. 2021 Land tax reduction and deferral for residential landlords The 25% land tax relief for residential landlords previously announced in April 2020 has been extended to the 2021 land tax. Residential landlords who provide their tenants
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The Federal Treasurer, Mr Josh Frydenberg, handed down the 2020/21 Federal Budget at 7:30 pm (AEDT) on 6 October 2020. Australia’s economic response to the COVID-19 pandemic in the form of the original and extended JobKeeper scheme, the cashflow boosts and the enhanced JobSeeker payment has come at a significant cost, Mr Frydenberg said, resulting
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2020/21 Federal Budget highlights, 6 October 2020 The Federal Budget for 2020/21 was handed down by the Treasurer, Mr Josh Frydenberg, at 7.30 pm (AEST) on 6 October 2020. Highlights Due to COVID-19, the economy is expected to shrink by 3.75% with unemployment peaking at 8%. The Budget is heavily weighted towards addressing the impacts
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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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