Congratulations to everyone for surviving 2020 and give yourself a pat on the back.  Whether you had to deal with shutting down your business, losing your job, home schooling or life in lockdown this year has tested us all.  Whist the worst of COVID-19 appears to be over and positive economic signs are starting to […]

Queensland small business owners who restructure their business on or after 7 September 2020 by transferring assets from a sole trader, partnership or discretionary trust structure to a company structure may be eligible for either a full or partial duty exemption on the transfer. Eligibility criteria To be eligible for the exemption as a: sole trader, […]

When we started 2020 no-one would have predicted a Melbourne Cup with no spectators, a year like no other.  For many of us the Melbourne Cup is a chance to come together and celebrate with our friends, family and colleagues.  Whether it be for the entire day, a few hours or a few minutes take […]

Whilst Government debt will increase to unprecedented levels the Federal Government has introduced measures to increase business confidence and provide tax relief to kick start the economy. Detailed below is a summary of the key business and tax measures from the budget. Personal Tax Cuts These measures take effect from 1 July 2020: Taxable Income                        […]

The State Government has announced additional payroll tax relief measures which were introduced to alleviate the impacts of Coronavirus (COVID-19). If you are an employer (or part of a group of employers) who pays $6.5 million or less in Australian taxable wages in a financial year, you can apply for a refund of payroll tax for […]

The Federal Government has announced two significant changes to the JobKeeper Scheme which relax the eligibility criteria for employees and employers. Employees With effect from 3rd August the date of employment for determining employee eligibility will move to 1 July 2020.  This means: Any permanent employees which started with an employer between 1 March 2020 […]

The Federal Government is introducing changes to the JobKeeper scheme which will take effect from 28 September 2020.  All current arrangements for JobKeeper remain in place until that time. Reduced Payments – Full Time Workers Payments will be reduced as follows: Period Amount per worker 29 September – 2 January $1,200 per fortnight per worker […]

The Queensland Government is opening Round 2 of its Small Business COVID-19 Grant program on 1st July 2020.  Detailed below is all you need to know about what can be funded, whether you are eligible and how to apply. What can be funded? The available grant amount is a minimum of $2,000 and up to a maximum of $10,000 per eligible small or […]

With many people simply trying to survive, conserve cashflow and make it through COVID-19 its timely to remember that tax is a cost which needs to be addressed.  Detailed below are some helpful hints in managing your tax prior to 30 June. New Superannuation Rules – Catch Up Contribution Rules With effect from 1 July […]

With many businesses simply trying to survive, conserve cashflow and make it through COVID-19 its timely to remember that tax is a cost which needs to be addressed.  Detailed below are some helpful hints in managing your tax prior to 30 June. Job-keeper Payments Whilst most eligible businesses have registered and are receiving payment, some […]