The Government has extended COVID support by treating the cost of rapid antigen tests required for work as tax deductible and exempt from Fringe Benefits Tax (“FBT”). The Government has also again allowed for various additional State support grants to be exempt from income tax. Deductibility of rapid antigen tests and COVID testing As expected, […]
On 1 February 2022, the Victorian Government introduced new regulations under the Commercial Tenancy Relief Scheme to provide continued support to small businesses experiencing financial hardship as a result of the ongoing COVID-19 pandemic.
The 2020-21 Federal Budget introduced a temporary loss carry back regime in response to the COVID-19 pandemic. The rules allow for corporate tax entities to carry back tax losses from the 2019-20, 2020-21 and 2021-22 years as far back as the 2018-19 income year to generate refundable tax offsets. Pursuant to the 2021-22 Federal Budget […]
Businesses with overdue tax debts of more than $100,000 may have their tax debt information reported to credit reporting bureaus by the Australian Taxation Office (“ATO”), following a new tax debt disclosure measure enacted in October 2019. While the regime took effect from February 2020, its implementation was delayed in response to COVID-19. Entities that […]
Recent comments by Shadow Treasurer Dr Jim Chalmers, have pointed in the direction of the Australian Labour Party (ALP) possibly re-proposing their 2019 policy for adult beneficiaries of a trust (Trust) to be taxed at a minimum rate of 30%, putting middle-market businesses at risk of losing out. Projections suggest the increase in tax could […]
The Federal and NSW governments have announced additional support for businesses impacted by the current Public Health Order in place in NSW. The package, which will be jointly funded by the federal and NSW governments, provides further financial support to businesses that are impacted by the extension of the lockdown in Greater Sydney. We summarise the support that is now available below.
The Victorian and Commonwealth governments have announced additional support for Victorian businesses that continue to feel the effect of five lockdowns.
The Federal and NSW Governments have provided more details on the financial support on offer to businesses and workers who have been impacted by the recent June/July 2021 lockdown measures.
Having worked in the advisory space on accounting and tax issues for private family groups, SMEs, business subsidiaries of multinationals, and trusts, Linda has a multi-faceted understanding of the middle market. Harnessing a personable and proactive approach to client service, Linda strongly values open and honest communication to build strong longstanding client relationships. She truly […]
With over 30 years of experience in public practice, Sheree has worked with a wide range of family enterprises in relation to their business and taxation affairs. With taxation having been a large part of Sheree’s career, she is able to confidently advise on taxation matters including Capital Gains Tax, GST, corporate income tax and […]
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