The ATO Resumes Debt Collection Intends Not to Destroy Businesses Post JobKeeper
The Australian Tax Office (ATO) has confirmed that it has recommenced pursuing and enforcing debt recovery. However, the tax agency has reassured businesses that it will refrain from going too hard too soon. Businesses who are struggling with tax debts have been encouraged to re-engage with the ATO as it promises it will not “destroy […]
Recent Changes Made to Income Insurance
For the large majority of Australians in the workforce our ability to earn an income is our greatest and sole financial asset. The loss of our ability to work and generate an income can have serious repercussions on our financial stability and our goals for the future. Medical and health problems can often leave an […]
The SME Recovery Loan Scheme Has Opened
The SME Recovery Loan Scheme opened on Thursday 1st April and will be available for small to medium enterprises (SMEs) across Australia until 31st December 2021. The purpose of the scheme is to support the economic recovery, and to offer continued assistance, to businesses that received JobKeeper and also to organisations that are eligible flood-affected […]
The Show Starter Loan Scheme Aims to Boost Australia’s Creative Economy
Announced in December 2020, The Show Starter Loan Scheme is a $90 million loan project established by the Australian Government. The scheme aims to give creative economy businesses access to finances which will make it possible for them to create new productions and events which will result in job creation and economic activity. The scheme […]
The Victorian Government Announces Business Events Grants to Attract Interstate Visitors
The Victorian government has announced that business events operators will be eligible to apply for grants of up to $25,000 in a bid to entice interstate visitors to travel to Victoria. The National Business Event Program will be directed by the Melbourne Convention Bureau (MCB), with eligible events consisting of conferences, exhibitions, workshops and seminars. […]
372,000 Australian Businesses Were On JobKeeper When It Ended Last Month
Right up until it’s completion on Sunday 28th March, JobKeeper remained to be a critical economic lifeline for 372,000 Australian businesses. New research shows that almost a quarter of Melbourne based businesses were dependent on help from the scheme during its final phase. Businesses in regional parts of the country fared better than those in […]
Government Support For The Arts During Covid-19
Last year, as part of the 2020-21 federal budget, the Australian government announced around $800 million of additional funding to support the nations creative and cultural sectors. Screen Australia has been given access to $33 million to support the continued development and production of Australian content. This funding consists of $30 million to support Australian film and […]
The ATO Is Flipping the Switch on Debt Recovery
Now that the JobKeeper scheme has concluded, the Australian Tax Office has announced that it will resume pursuing and enforcing debt recovery action. In February, the ATO commenced sending letters to taxpayers to inform them of potential sterner action if they failed to make good on their obligations and had refused to get in touch […]
Calls for Targeted Stimulus Package to Assist Hospitality Venues Post JobKeeper
Restaurateurs and café owners across Queensland are calling for the Australian Government to create a targeted stimulus package to support the hospitality industry. This comes as Brisbane was placed into a three day lockdown earlier this month to combat the recent announcement locally acquired covid-19 cases being detected in the Greater Brisbane Region, Gold Coast […]
The ATO Is Set To Turn the Tide on Insolvencies
Following the discontinuation of JobKeeper and other government support measures which were introduced at the peak of the covid-19 pandemic, the ATO is set to ramp up enforcement in line with the governments ambition to revert to a “business as usual approach”. It is not expected that the ATO will be overly aggressive but they […]
