Tag: JobKeeper

Hospitality Venues in Brisbane Endure First Lockdown Post JobKeeper

Restaurants, cafes and other hospitality establishments located in Brisbane are expecting to take a massive hit as the city enters Australia’s first covid-19 lockdown since the end of JobKeeper. Under the new lockdown rules, hospitality venues are only able to serve take-away or home delivery options to their customers. Non-essential businesses such as; gyms, cinemas, […]

Thousands of Employees Face Redundancy as JobKeeper Ends

The JobKeeper scheme ended on Sunday 28th March. The ATO has warned employers that they could potentially lose access to the wage subsidy payments if they deny workers their redundancy entitlements.   The Treasury has estimated that up to 150,000 employees across the country are likely to lose their job as a result of the […]

The ATO Has Lost “JobKeeper Test Case” In the Full Federal Court

Jeremy Apted, an Australian sole trader has been granted access to JobKeeper following the Full Federal Court unanimously ruled that the Australian Tax Office was incorrect in its decision to not grant his business more time to establish it’s eligibility. This case which is referred to as “The JobKeeper test case” was centred around whether […]

Some Australian Businesses Have Been Forced to Repay JobKeeper Payments

In 2020, the federal government paid over $1 billion to some of Australia’s most profitable companies. Over 60 publicly listed businesses have revealed that they were given handouts such as JobKeeper despite recording a combined profit of $8.6Bn in the past 18 months. These companies distributed an excess of $3.6 billion in dividends to their […]

Advice for Business Owners Who Are Preparing for The End of JobKeeper

The Australian Government will be ending the JobKeeper scheme on Sunday 28th March. Here are some tips to help business owners prepare for life after the wage subside. Review Your Cash flow With as much detail as you can, it is advised that business owners put together a forecast for the next few months. Get […]

Insolvencies Increased by 61% In February 2021

Last month saw the number of insolvencies in Australia rise by 61%. The official statistics released by CreditorWatch indicate that insolvencies increased from 254 external administrations at the start of February to 408 administrations by the end of February 2021. With JobKeeper set to end on 28th March 2021, it is anticipated that the number […]

Australia’s Unemployment Rate Has Dropped to 5.8%

In February 2021, Australia’s unemployment rate dropped from 6.3 percent down to 5.8 percent. This fall illustrates that Australia’s labour market is improving from the covid-19 pandemic a lot quicker than what most people anticipated. Over the past month an extra 88,700 people have found new jobs. This means that for the first time over […]

Hundreds of Businesses Have Been Overpaid Under The JobKeeper Wage Subsidy

The Australian Tax Office (ATO) is reportedly still owed hundreds of millions of dollars from Australian businesses who have tried to rort the JobKeeper wage subsidy. Many of these businesses who have exploited the scheme have received payments despite being deemed ineligible and some businesses have been overpaid. Over the past few months the ATO […]

250,000 More Australians Might Be Unemployed When JobKeeper Ends

Another 250,000 Australians could potentially find themselves unemployed when JobKeeper ends on 28th March 2021. The end of the scheme is anticipated to lead to thousands of businesses failing across the country. This will consequently lead to anywhere between 125,000 and 250,000 people left without a job.   There are many businesses that would’ve already […]