Following the Victorian Government’s COVID-19 circuit breaker 7 day lockdown, our team is set up to work remotely so you can still contact your Blaze Acumen advisor via their usual telephone number (or 03 9694 3000) and email. In line with the restrictions and to play our part in stopping the spread of COVID-19, the
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The Victorian State Budget for 2021/22 was released by Victorian Treasurer Tim Pallas on Thursday 20 May 2021. The full budget papers are available at https://www.dtf.vic.gov.au/state-budget/2021-22-state-budget. Click to DOWNLOAD Victoria State Budget 2021-2022 Summary The key tax measures and changes announced in the budget as foreshadowed in our Client Alert 81 – Victoria State Budget
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Victorian Treasurer Tim Pallas has foreshadowed that this Thursday’s state budget will include a number of tax hikes that will hit property investors the hardest. Last week, Mr Pallas announced the following state tax increases will be included in the state budget as a measure to recover lost revenue: Land Tax To Rise From January
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The Federal Treasurer, Mr Josh Frydenberg, handed down the 2021–22 Federal Budget at 7:30 pm (AEST) on 11 May 2021. A stronger than expected economic recovery from the COVID-19 recession has resulted in a budget deficit of $161 billion, $52.7 billion lower than the government’s expected deficit. With the virus still a threat to the
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The Federal Budget for 2021/22 was handed down by the Treasurer, Mr Josh Frydenberg, at 7.30 pm (AEST) on 11 May 2021. Highlights The Budget is weighted towards building on the measures announced in the October 2020 budget. The key tax and superannuation highlights from the Budget are summarised below. Income tax – Personal Retaining
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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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