Businesses impacted by the Corona virus will be able to access a wages subsidy from the Federal Government to continue paying their employees. Affected employers will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum period of 6 months. Eligible Employers Businesses with a turnover …
A new $4 billion package prepared in response to the COVID 19 crisis will overhaul the State Government’s original plan to simply defer payroll tax requirements. Instead, two months’ worth of payroll tax will be immediately refunded to businesses and the next three months’ worth of payroll tax will be waived. The package will also …
Queensland State Government announces further payroll tax relief and other measures Read More »
The Federal Government over the weekend advised it is introducing changes to the superannuation system to provide temporary relief for individuals to deal with the effect of COVID 19. Temporary Early Release of Superannuation Eligible individuals will be able to apply online through myGov to access up to $10,000 of their superannuation before 1 July …
Federal Government Stimulus Package Mark 2 – Superannuation Read More »
The Federal Government over the weekend advised that it will be significantly increasing the assistance for small businesses that employ people with an aggregated turnover of less than $50 million (including not-for-profits). To be eligible your business must have been registered as an employer by 12 March 2020. The enhanced assistance is as follows: Initial …
Federal Government Stimulus Package Mark 2 – Small Business Read More »
The State Government and major Australian banks have offered the following support to businesses in light of the challenges caused by COVID-19. State Government The Queensland Government has announced the Immediate Industry Recovery Package to assist business and industry to implement resilience and recovery strategies to mitigate impacts of COVID-19. This package currently includes support …
Bank & State Government Support for Business – COVID-19 Read More »
The Federal Government is providing assistance to deal with the economic impact of the Coronavirus for businesses in the following forms: Helping small businesses with short-term cash flow relief to support the continued employment of staff; and Supporting business investment in the short to medium term. Helping small businesses with short-term cash flow relief to …
Welcome to our 4th edition of Coeus Chronicles. In Greek mythology Coeus was a Titan respected for his intellect, resolve and gift of foresight. At Coeus Advisers we use these qualities to assist our clients to make the right decisions in the areas of taxation, business finance and investments. During the summer Australia experienced the …
With the fringe benefits tax (FBT) year ending on 31st March it is that time of year for employers to review the non-cash benefits they have provided to their employees and assess their FBT liability. It is important to note that FBT is levied at the highest tax rate (currently 47%) on the taxable value …
Fringe Benefits Tax – Getting the Most Out of the Benefits you Provide Your Employees Read More »
Lifestyle Assets Do you own “lifestyle assets” such as an expensive car, fine art or a boat? If so, the ATO may be checking to see that your declared income can support your lifestyle. The ATO is using its extensive powers and has instructed over 30 insurance companies (targeting approximately 350,000 people) to provide information …
Some cashed-up parents naturally want to give their children a head start financially, but the big question is how best to help them. Financial assistance typically falls into a few broad categories: Financial backing to get older children into the property market. Long-term investments in platforms, such as trusts and investment bonds, that mature when …
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