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Federal Budget 2020-21 Snapshot

Five key focus points for SME business Last night, the Federal Government announced more than $30 billion in tax cuts for business as part of its 2020 Federal Budget.  Treasurer Josh Frydenberg has unveiled a temporary supercharged instant asset write-off that will see businesses with turnover up to $5 billion be able to deduct the
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JobKeeper Extension 2.0

(updated 21st Sep 2020) JobKeeper 1.0 ends on 27 September 2020. Those needing further support will need to reassess their eligibility and prove an actual decline in turnover to be eligible to enter JobKeeper Extension 2.0. To receive JobKeeper from 28 September 2020, eligible employers need to assess their decline in turnover with reference to
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Single Touch Payroll (STP)

SINGLE TOUCH PAYROLL (STP) IS HERE… STP for employers with less than 19 employees starts on 1 July 2019 and requires employers to report specific wages and superannuation information online to the Australian Tax Office each time you pay employees. For example if your pay cycle is fortnightly, you need to process your payroll at
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