Client Alert – June 2020
Treasury revises down estimated JobKeeper cost by $60 billion The ATO and Treasury have released a joint statement advising that the previous estimate of the number of employers who would access the JobKeeper program was significantly overstated. Treasury now estimates the number of employees covered under the JobKeeper program to be around 3.5 million (down from a […]
Being ‘stood down’ is not being sacked
Accountants are fielding lots of questions in the COVID-19 shutdown. One of the most confusing is about standing down staff. IN BRIEF – While being ‘stood down’ sounds like a retrenchment or redundancy, it is not the same. Standing down measures are being used to try to save companies from going under and, ultimately, retain […]
Explanatory Memorandum – April 2020
Coronavirus cash flow boost payments explained As a part of the second round of economic stimulus in response to the COVID-19 pandemic, the Australian Government has legislated a measure to boost cash flow for employers. Put simply, the cash flow boost payments are intended to support employment by providing Federal support for employers through the […]
Client Alert – April 2020
Coronavirus cash flow boost payments explained As of the second round of economic stimulus in response to the COVID-19 pandemic, the Australian Government has legislated a measure to boost cash flow for employers. However, small to medium employers who intend to claim the “cash flow boost payment” in the hope of receiving an injection of […]
Foreign Resident CGT Regime
The government had announced that Australia’s foreign resident CGT regime would be extended to deny foreign and temporary tax residents access to the CGT main residence exemption in May 2017. Following consultation, the government had also amended the change to the main residence exemption to ensure that only Australian residents for tax purposes could access […]