No.63 COVID-19 Update – JobKeeper Payment

On 30 March 2020, the Government announced a $130 billion JobKeeper Payment to help keep Australians in jobs as the country seeks to deal with the significant economic impact from the Coronavirus. Under the JobKeeper Payment, businesses impacted by the Coronavirus will be able to access a subsidy from the Government to continue paying their employees.
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No. 62 COVID-19 Update – Superannuation Edition

On 22 March 2020, the Australian Government announced a stimulus package that included measures to support retirees in response to the COVID-19 impact on superannuation savings. The main measures relating to retirees and superannuation are as follows: 1.  Temporarily reducing superannuation minimum drawdown rates The Government is temporarily reducing superannuation minimum drawdown requirements for account-based
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No.61 COVID-19 Update – Response from the State Governments

Victoria’s Economic Survival Package The Victorian Government announced a $1.7 billion economic survival and jobs package.  As part of the package, the Victorian Government will provide the following support. Full payroll tax refunds for the 2019-20 financial year to small and medium-sized businesses (SMEs) with payroll of less than $3 million. Payments will start flowing
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No.60 COVID-19 Update – Federal Government Expands Economic Stimulus Package

On 22 March 2020, the Australian Government announced an expanded economic response to help businesses and households through the period ahead in light of the broader and more prolonged impact of the Coronavirus outbreak. Building on the previous measures (which were outlined in our Client Alert No.59 COVID-19 Update – Government Economic Stimulus Package) this
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No. 59 COVID-19 Update – Government Economic Stimulus Package

On 12 March 2020, the Australian Government announced a $17.6 billion economic stimulus package to support individuals, businesses and households affected by the rapidly spreading COVID-19.  The package announced by the Australian Government has four main focus areas. 1.  Supporting business investment (effective from 12 March 2020) Increasing the instant asset write-off The Government is
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No. 56: Your Self Managed Superannuation Fund (SMSF) status will change if its income tax return is overdue

From 1 October 2019, if an SMSF is more than two weeks overdue complying with any annual income tax return lodgement due date and hasn’t requested a lodgement deferral, the Australian Taxation Office (ATO) will change the status of the fund on Super Fund Lookup (SFLU) to ‘Regulation details removed’. https://www.ato.gov.au/Super/Sup/Your-fund-status-will-change-if-SMSF-annual-returns-are-late/ How will this change
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No.55: 2019/20 Federal Budget Highlights, 2 April 2019

The Federal Budget for 2019/20 was handed down by the Treasurer, Mr Josh Frydenberg, at 7.30 pm (AEST) on 2 April 2019. Download link to detailed Blaze Acumen Federal Budget Tax Bulletin 2019-20 Highlights The key tax and superannuation highlights from the Budget are summarised below. A detailed summary can be found at the link
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