Federal Government Opens Up Submissions For New Franchise Rules
The Australian Government has published draft amendments to the Franchising Code of Conduct to support the establishment and operation of the Franchise Disclosure Register. The amendments proceed the 2021-22 budget commitment of $4.3 million for a new Franchise Disclosure Register to assist prospective franchisees to make an informed decision before entering a franchise agreement. Stuart […]
Australian Government Confirms Director ID Deadline
Current Australian directors will now be given 12 months to apply to receive their unique director identification number before fines of over $1.1 million kick in for non-compliance. Existing company directors will now be required to apply for a director identification number (director ID) by the 30th November 2022. Directors of Indigenous corporations that are […]
Treasury Admits That $13.8 Billion Worth of JobKeeper Payments Went To Profitable Companies
Federal Treasurer Josh Frydenberg has revealed that an excess of $13.8 Billion worth of JobKeeper payments were distributed to businesses that weren’t meant to receive the funding. A report published by the Treasury outlined that under the JobKeeper regime $11.4 billion and $15.6 billion in the June and September quarters of 2020 or a total […]
Australian Government Introduces New Casual Employment Laws
The Australian Government has announced that businesses who have long-term casual staff might soon be hit with fines exceeding $66,000, if they don’t offer them permanent positions. Since Monday 27th September, employers across the country must begin contacting casual staff who have been employed for at least 12 months, with a written offer to convert […]
Australian Government Expands Eligibility for Business Recovery Loans
The Australian Government has announced that it will be loosening criteria for its SME Recovery Loan Scheme. The newly introduced changes mean that business with a turnover of up to $250 million will now have access. Prior to the new changes, the funding was only available to businesses who had received JobKeeper in the March […]
The ATO Clashes With The Senate Over The Disclosure Of JobKeeper Order
Commissioner of Taxation Chris Jordan has argued public interest immunity against a Senate order that would have required the ATO to publish a list of businesses with a turnover of more than $10 million who were recipients of the JobKeeper wage subsidy. The Senate order, moved by independent senator Rex Patrick, would have also obliged […]
Prime Minister Scott Morrison Continues To Reject Calls To Bring Back JobKeeper
Prime Minister Scott Morrison has rejected calls to reinstate JobKeeper. This is despite their being 13 million Australians who are currently in lockdown which is over half the nation’s population. The Prime Minister strongly insists that there is no time to implement a system to deliver emergency payments to individuals who need it now. “I’m […]
NSW and Victoria Government Boosts Support For Business
New South Wales and Victoria State Governments have both announced an increased level of business support measures to lessen the burden of recent state lockdowns, while the federal government has also increased its support for individuals as the covid-19 crisis continues to drag on. NSW Government Opens Applications For JobSaver On Monday 26th July, applications […]
Superannuation Changes Announced In The 2021 Budget
This years Federal Budget consisted of a large number of significant changes being made to superannuation. If they are successfully passed by Federal Parliament, these changes are set to apply from the 1st July 2022 after the date they receive Royal Asset. 50 Percent Reduction In Minimum Pension Extended To 30th June 2022 Although this […]
ATO Declares It Won’t Use e-Invoicing to Facilitate Tax Compliance
The Australian Tax Office (ATO) has announced that it has no plans to use e-invoicing as a way of facilitating tax compliance, despite fears that Australia may eventually move to emulate other countries by scrutinising e-invoicing data. The ATO has assured businesses that the Tax Office has not been granted the authority to view the […]