No.88: Director Identification Number (Director ID)

As part of the government’s Modernising Business Registers Program, from 1 November 2021, all directors will need to apply for a Director ID (formerly referred to as Director Identification Numbers or DINs).  You will be issued with one Director ID that will link across all director positions and you will hold this number for life.
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No.86: Further Victorian Business Support Announced

On 30 September 2021, the Victorian Government announced a package of grants for the next six weeks, to be jointly funded by the Commonwealth and Victorian Governments. The grants comprise extensions and ‘top-ups’ of existing grant categories that have previously been provided, including the Licensed Hospitality Venue Fund. Further details of the grants can be
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No.85: Superannuation Bulletin | Contributions & Pensions

This Client Alert is relevant to Clients with superannuation  Indexation of Contribution caps Restrictions limit the amount that can be contributed to super, referred to as the contribution cap limits. As of 1 July 2021, the superannuation concessional and non-concessional contribution caps have been indexed. The new caps are:       The total superannuation balance
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No.84: Draft legislation for changes to employee share scheme

The Government has released draft legislation implementing tax and regulatory reforms for employee share schemes (ESS), making it easier for businesses to offer ESS.  These changes were foreshadowed in the 2021-2022 Federal Budget. Tax changes Under the current legislation, tax-deferred ESS schemes allows an employee to defer paying tax in relation to their ESS interests
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No.83: NSW COVID-19 Support Packages

There has been a raft of support measures introduced to help NSW businesses and individuals during the extended 2021 COVID-19 lockdown. Outlined below is a summary of those measures including some frequently asked questions regarding the 2021 COVID-19 Business Support Grant: 2021 COVID-19 Business Support Grant The 2021 COVID-19 business grant provides support for businesses
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Client Information Bulletin | June 2021

Topics covered in this edition of our Client Information Bulletin are: Helping businesses recover –  Tax depreciation incentives to help businesses recover Small business tax time errors –  How to work out PAYG instalments –  Simplified trading stock rules –  Electronic invoicing –  R&D applications – new online portal FBT: Do you provide car parking
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No.81: Victoria State Budget 2021-2022

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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Client Information Bulletin | May 2021

Topics covered in this edition of our Client Information Bulletin are: COVID-19 measures –  JobKeeper scheme –  JobMaker hiring credit scheme –  Stimulus vouchers: how to report this in your tax –  SME loan guarantee scheme –  Eligible loan uses FBT issues –  New FBT thresholds and rates for 2021-22 –  Living away from home allowances –  FBT exemptions –  FBT return Do you
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