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 […]
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 […]
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 […]
New Mental Health Training for Accountants and Bookkeepers Has Been Officially Launched
The Counting on U Program, is a brand new mental health initiative which has been made freely available to members of Chartered Accountants Australia and New Zealand, the Institute of Public Accountants, CPA Australia and the Institute of Certified Bookkeepers, is now open for registration after a successful pilot phase took place in February. It […]
Job Vacancies in Australia Hit Record Levels as JobKeeper Ends
Australia’s national jobs market appears to be in a strong position to take up many of the 1 million Australians who have recently come off the federal governments JobKeeper wage subsidy program. The Australian Bureau of Statistics (ABS) revealed that at the end of March 2021 there was approximately 289,000 vacant jobs across Australia in […]
The Impact Ending JobKeeper Will Have On the Unemployed
In Australia one entry-level job is advertised for every 48 people who are relying on JobSeeker payments. Now that JobKeeper has been discontinued and thousands of Australians are at risk of losing their jobs the competition for these highly sort after new employment opportunities has risen significantly. There are eight people who receive the JobSeeker […]
Youth Unemployment in Australia During the Covid-19 Pandemic
Over 870,000 Australians lost their jobs during the first few months of the covid-19 pandemic. Around 38% or 332,200 of these Australian workers were young Australian aged between 15 and 24. By June 2020, as Australia’s overall unemployment rate hit 7.4%, the youth unemployment rate jumped to 16.4%, with a further 19.7% underemployed. An underemployed […]
Australian Businesses in a World after JobKeeper
Business owners, insolvency experts and bureaucrats are cautiously awaiting to see how the end of JobKeeper is going to impact the Australian economy over the coming weeks. Insolvency laws were introduced during the peak of the covid-19 lockdown to protect businesses. On top of this the $90 billion JobKeeper wage subsidy scheme made it possible […]