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 […]
Australians In Lockdown Have Had Bills Increased By $233
Over 15 million Australians are living in strict lockdown conditions as of 19th August. Although there are many people who are saving money as a result of staying at home, the cost of living for many is surprisingly only getting more expensive. Recently published research has demonstrated that 27 percent of Australian households have seen […]
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 […]
Australia’s Unemployment Rate Dropped In Latest Lockdown As People Gave Up Looking For Work
The unemployment rate across Australia has dropped during the latest wave of lockdowns, as a large number of unemployed Australians simply gave up looking for work. Australia’s unemployment rate dropped from 4.9 percent in June to 4.6 percent in July. These figures have been recorded despite there only being an extra 2,200 extra people becoming […]
SMEs Encouraged To Seek Help If They Are Struggling To Pay Their Taxes
Small to medium enterprises (SMEs) across Australia are being encouraged to seek immediate help if they are struggling to pay their taxes due to the covid-19 pandemic-induced cash-flow issues. It has been reported that small to medium businesses currently owe the Australia Tax Office (ATO) a record-high $21.4 billion in tax debt in the financial […]
Covid-19 Small Business Support Grants For ACT Based Businesses
Businesses in Canberra who have been impacted by the recent covid-19 lockdown are now able to apply for support grants which are being provided by the ACT Government. Businesses who are eligible will be able to receive up to $10,000 (businesses with employees) or $4,000 (for businesses without employees). These funds will be available for […]
Centrelink Goes After 11,000 Australians for $33 Million Worth of JobKeeper Related Debts
Over 11 thousand Australians have been sent debt notices associated with JobKeeper wage subsides totalling an amount close to $33 million. Services Australia has announced that since April 2021 11,771 welfare recipients had debts raised, following a review of JobKeeper and income support payments. Employment Minister Stuart Robert told parliament that it was the government’s […]
The Legal Consequences Of The High Courts Casual Employee Decision
The High Court of Australia has decided to unanimously uphold an appeal from recruitment company WorkPac against a 2020 Federal Court decision, ruling that WorkPac’s former employee, Robert Rossato, was in fact classed as a casual employee at law. In May 2020, the Full Federal Court ruled that casual employees who work stable, regular hours with […]
Banks Offering Support To Australian Businesses And Households During Lockdown
Banks across Australia have been granted a bit over 15,000 repayment deferrals on home and business loans during the recent lockdowns taking place across the country. Since Thursday 8th July, over 600 business loans have been deferred, including 14,500 home loans, with NSW said to be the origin of a majority of hardship assistance requests, […]
Australia Set To Avoid Another Recession Despite New Lockdowns
According to the Reserve Bank of Australia’s Governor Philip Lowe, Australia is set to avoid another recession, despite the countries recent economic comeback being halted by the number of new lockdowns introduced across the country to stop the spread of the Delta covid-19 variant. Mr. Lowe believes that Australia’s economy will bounce back quickly once […]
