SME Tax Debts Reaches A Record $21 Billion
It can be revealed that, small and medium businesses across Australia owe a total of $21 billion to the ATO (Australian Tax Office). The figures were published according to new data compiled by the Inspector-General of Taxation and Taxation Ombudsman (IGTO). Despite this record figure, the large majority of small business owners have said that […]
Employee Overtime Increased By 33 Percent In 2020
Recently published research has highlighted that overtime work increased in 33 percent of businesses across Australia over the last 12-month period. 59 percent of non-award staff were unpaid for their extra hours. Only 13 percent managed to decrease overtime over the past 12 months. Of those 33 percent of Australian business that increased overtime, 20 […]
Casual Workers Across Australia Are Left in Financial Limbo During Covid Lockdowns
Once again, a number of Australia’s biggest cities have been placed under new lockdowns, as a consequence of this, hundreds of thousands of casual workers across the country have been left without an income thus giving them an uncertain and anxious future. Some casual workers will receive a $500 crisis payment if their city’s lockdown […]
NSW Government Opens Applications For JobSaver
On Monday 26th July, applications for the JobSaver scheme opened for NSW based businesses who have been impacted by the latest covid-19 lockdown. Applicants who are successful will receive 40 percent of their weekly payroll, at a minimum of $1,500 and a maximum of $10,000 per week, as long as they maintain their full-time, part-time and […]
2021 Covid-19 Business Support Grants Announced For Lockdown Impacted Business In Queensland
If your business has recently been impacted by the latest Queensland based covid-19 lockdown, you might be eligible to receive financial support via the 2021 Covid-19 Business Support Grants. These grants worth $5,000 will be available for small and medium businesses located across Queensland who have been impacted by the lockdown which commenced on Saturday […]
Important Information About The Superannuation Guarantee (SG)
For Australian workers the most common type of contribution regularly going into your super account is likely to be the Superannuation Guarantee – or SG for short – which is the contribution your employer is required to make into a super fund on your behalf. The SG is part of the remuneration you receive from […]
Victorian Government Announces $280 Million Support Package
On Wednesday 21st July, Victorian Premier Daniel Andrews announced an injection of $282.5 million to Victoria’s business support package, which will now total $484.3 million with the goal to support over 90,000 businesses and sole traders across the state during the course of Victoria’s fifth lockdown. Victorian Businesses who are eligible for the Licensed Hospitality […]
Millions of Australian Workers Set To Benefit From Increased Superannuation Payments
Millions of Australians are set to benefit from an increase to superannuation payments which came into effect on Thursday 1st July. The superannuation guarantee (SG) has been bumped up from 9.5 percent to 10 percent. This means workers set to receive more pay towards their retirement nest eggs. Industry Super Australia (ISA) says 6.7 million […]
Important Information About Tax Cuts And Super Changes Introduced on 1st July 2021
Tax relief for workers and businesses, higher superannuation payments and housing assistance for first home buyers are just some of the changes set to occur at the start of the new financial year on Thursday 1st July, as a number of measures from the 2021 federal budget come into effect. Arguably the most significant change […]
Government Announces New Support Measures For Victorians In Lockdown
On Thursday 15th July, Prime Minister Scott Morrison and Victorian Premier Daniel Andrews both came to an agreement to offer support to Victorian workers located in the latest covid-19 hotspots who will lose income due to the new restrictions. Victorian workers who have lost between eight and less than 20 hours of work will receive […]
