Today, the Federal Government released its July Economic and Fiscal Update (JEFU) statement, painting a picture that Australia is performing better than many of its OECD equivalent economies.
The Federal Government has announced the JobKeeper payments scheme will be extended beyond September 2020.
Australia’s aged care sector has weathered the COVID-19 pandemic well, despite some headlines to the contrary. While this doesn’t make the deaths of people in residential care facilities any less tragic, the sector continues to strengthen its measures to reduce the spread of the virus and protect the health of older people across Australia
Understanding the definition of ‘income’ for trusts has always been important. However, for this 30 June 2020, it’s more critical than ever due to COVID-19.
In recent years, Australia’s ageing population and complex skills and competency requirements have placed increasing pressure on the aged sector. The Aged Care Royal Commission, in particular, revealed the gravity of issues in the sector, highlighting that workplace conditions and strong demands form part of the challenges the industry must overcome to evolve.
The ATO is set to notify large private companies that they are required to prepare and lodge a reportable tax position (RTP) schedule.
Amendments have been made to the non-arm’s length income (NALI) rules for complying superannuation funds, which may now also apply if a fund incurs non-arm’s length expenses, or does not incur any expense, in generating income or profits from investments.
Until now, contracts for the sale of certain types of real property which were entered into before 1 July 2018 have not been subject to the GST withholding rules. However, the transitional period is coming to an end.
As 30 June approaches, it is critical for responsible entities, trustees and fund managers to turn immediate attention to taxation, investor reporting and other fund compliance obligations, particularly given the ongoing impact of COVID-19. In addition, and in light of the ATO’s recent announcement regarding the likely commencement of managed investment trust (MIT) and attribution […]
Eligible Australian businesses can claim up to 50% of expenses on approved overseas promotions of their Australian products or services under the Export Markets Development Grant (EMDG). What is the EMDG scheme? The EMDG scheme is an Australian Government financial assistance program open to small to medium enterprises (SME’s) who are engaging in promotional activities. […]
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