2020 by Aspen Corporate
Empty restaurants and retail stores were one of the first signs of the devastating impact the coronavirus on Australian businesses.
2020 by Aspen Corporate
The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws.
April 2020 by Sergio Di Vincenzo
The new Property Code of Conduct for Commercial Landlords has now been released and whilst everyone acknowledges that tenants need assistance, there also appears to be a consensus that if we remove our tenant and landlord hats, the fact is that commercial landlords have been treated unfairly.
April 2020 by Sergio Di Vincenzo
We outline what we have seen occurring in the banking Sector with respect to deferral's and the $250,000 loans?
April 2020 by Domenic Tartaglia
More than 540,000 companies have officially registered for Jobkeeper. But with such a short time between being conceived, legislated and then implimented, there will always be gaps and issues that will need to be resolved. There have been several changes already in the last few days, and we expect more to come.
June 2020 by Domenic Tartaglia
Both the State and Federal Governments have recently announced grants and subsides to help kick start the construction industry.
June 2020 by Aspen Corporate
The JobKeeper subsidy has progressed beyond the rush for eligibility and entered its second phase: compliance. Late last month, the Australian Taxation Office (ATO) released guidance highlighting where the regulator will focus its compliance resources.
July 2020 by Aspen Corporate
Will the Prime Minister's targeted $250 million package of funding to support cultural and creative projects and initiatives save the industry?
July 2020 by Aspen Corporate
For some employers, JobKeeper will not be enough to keep the employee employed. Find out how this affects their employment termination payments
July 2020 by Aspen Corporate
We always knew that a Government scheme swiftly distributing cash during a crisis was going to come with equally swift compliance and review measures, particularly when eligibility was self-assessed.
July 2020 by In The Black
Bernadette Smith was featured in an article about navigating the return to the office post Covid 19 shutdown.
July 2020 by Aspen Corporate
For JobSeeker, there is a winding back of some of the expanded eligibility criteria, along with the reintroduction of means and asset testing, and partner income testing.
August 2020 by Aspen Corporate
Employees that previously failed the JobKeeper eligibility test as they were not employed on 1 March 2020, may now be eligible for payments from 3 August 2020 if they were employed on 1 July 2020.
We've summarised the key details for employers on JobKeeper 2.0 in our client guide, but just remember that the proposed changes are not yet law and the details could still change.
August 2020 by Aspen Corporate
COVID-19 has had an impact on many SMSFs. We look at the key issues.
August 2020 by Aspen Corporate
During lock down you had to work from home. You've set up a full home office with paintings, plants, a desk, computer equipment, a water tower and a sculpture. Can claim everything you purchased for this office and claim part of my mortgage and running costs?
August 2020 by Aspen Corporate
Help available for Business and Individuals, including support from each state
September 2020 by Aspen Corporate
Now, more than ever, business operators should have a plan in place to manage during uncertain times. Even if your business is not directly impacted, it’s likely your customers, your supply chain, and your workforce will be to some extent.
September 2020 by Aspen Corporate
My business received a grant from the State Government. Do I pay tax on it?
Short answer; probably. But as always, the devil is in the detail.
September 2020 by Aspen Corporate
With the employee test date for JobKeeper moved to 1 July 2020, some additional employees might have become eligible for JobKeeper. The August JobKeeper monthly business declaration is due by 14 September and is different to the previous form as it covers three JobKeeper fortnights.
September 2020 by Aspen Corporate
If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business. But, to what degree does the pandemic impact on value? Should you discount or hold firm to pre COVID-19 performance on the basis that 'we're going to come out of it eventually'?
September 2020 by Aspen Corporate
The first tranche of JobKeeper ends on 27 September 2020. Those needing further support will need to reassess their eligibility and prove an actual decline in turnover.
October 2020 by Aspen Corporate
The Government has stepped in to prevent a wave of insolvencies when the COVID-19 support measures run their course in December 2020.
October 2020 by Aspen Corporate
The first tranche of JobKeeper ended on 27 September 2020. We look at the issues for those seeking to qualify for the second tranche of JobKeeper and for those no longer eligible.
October 2020 by Aspen Corporate
The 2020-21 Federal Budget is a road to recovery paved with cash.
By comparison to many, Australia has managed the COVID-19 pandemic well, but good management isn't enough to protect us from the $213.7 billion deficit in 2020-21. The Government has taken to heart the old adage, "You have to spend money to make money" to trade our way out of a black hole.
November 2020 by Aspen Corporate
Over $34.4bn has been released from Australian Superannuation Funds under the COVID-19 early release scheme, the Australian Prudential Regulation Authority revealed.
November 2020 by Aspen Corporate
At the recent Senate Estimates hearing, Jeremy Hirschhorn, the ATO’s Second Commissioner, stated that $120 million in JobKeeper payments had been clawed back from those either deliberately seeking to rort the system or who had made reckless mistakes.
November 2020 by Aspen Corporate
We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and until this occurs, the JobMaker rules are not certain and may change.
December 2020 by Sergio Di Vincenzo
If it has, we recommend that you contact your insurance broker to find out if a recent ruling by the NSW Court of Appeal means you could be entitled to compensation.
December 2020 by Aspen Corporate
31 December 2020 is the last day you can apply to access your superannuation early under the COVID-19 early access measures.
December 2020 by Aspen Corporate
With the borders between the State and Territories all but open and 2021 in sight, there is a hunger for a return to 'normal'. The recent Westpac-Melbourne Institute Index of Consumer Sentiment articulates this desire to 'get on with things'; sentiment reached its highest level since November 2013 and Christmas spending is expected to be consistent with previous years.
December 2020 by Bridget Swarbreck
Aspen Corporate takes the health of our staff and clients seriously. Because we believe in being proactive, we have decided to utilise the WA Government digital Covid-19 contact register system – "SafeWA".
December 2020 by Aspen Corporate
There is no doubt that JobMaker can be complex! If you would like to access the hiring credit, then you really do need to be fully informed about eligibility, enrolment and ongoing compliance.
To help, we have developed a guide to aid our clients in understanding the benefits and requirements of JobMaker.
February 2021 by Domenic Tartaglia
If you continue to experience the impact of COVID-19, you may have missed regular super guarantee (SG) payments, paid late or not paid in full.
February 2021 by Aspen Corporate
On 1 January 2021, new laws came into effect that introduce a new, simplified debt restructuring and liquidation framework for small business.
February 2021 by Aspen Corporate
A sole trader who was able to backdate his ABN has won access to JobKeeper payments in a recent case before the Administrative Appeals Tribunal (AAT).
February 2021 by Domenic Tartaglia
JobMaker Period 1 claim opened on the 1 February. JobMaker is a credit available to eligible businesses and non-profit entities that create new jobs (not if you are merely replacing someone who left).
February 2021 by Sergio Di Vincenzo
The impact of COVID-19 has been felt very differently from region to region. Fortunes vary wildly between business operators subject to ongoing lockdowns and trading impediments to those benefiting from the "new normal".
March 2021 by Aspen Corporate
Super Retail Group - owner of the Supercheap Auto, Rebel, BCF and Macpac brands - handed back $1.7 million in JobKeeper payments in January after releasing a trading update showing sales growth of 23% to December 2020. Toyota announced that it will return $18 million in JobKeeper payments after a record fourth quarter. And, Domino’s Pizza has also handed back $792,000 of JobKeeper payments.
February 2021 by Aspen Corporate
The impact of COVID-19 has been felt very differently from region to region. Fortunes vary wildly between business operators subject to ongoing lockdowns and trading impediments to those benefiting from the "new normal".
March 2021 by Aspen Corporate
The first COVID-19 vaccination in Australia rolled out on 21 February 2021 preceded by a wave of protests. With the rollout, comes a thorny question for employers about individual rights, workplace health and safety, and vaccination enforcement.
March 2021 by Simon Read
Are you ensuring your business is doing all it can to protect against insolvent customers?
Many are predicting a significant increase in business insolvency in 2021. With the Covid19 protections for insolvent trading having ended, there is heightened risk there may be more insolvent trading activity in 2021 affecting our clients.
March 2021 by Sergio Di Vincenzo
As part of last Thursday's post Jobkeeper Covid-19 support announcement, the Morrison government revealed an extension to, and expansion of, its SME Loan Guarantee Scheme.
April 2021 by Aspen Corporate
The Government's JobMaker scheme has created 609 new jobs since registrations opened on 1 February 2021, despite around 15,000 businesses registering their interest in the scheme.
April 2021 by Aspen Corporate
The ATO has clarified the tax treatment of JobKeeper payments handed back to the Government. The clarification comes after the Super Retail Group, Dominos Pizza and Toyota collectively returned more than $20 million in JobKeeper payments after reporting exceptional trading results.
May 2021 by Sergio Di Vincenzo
The WA Government has announced a targeted Lockdown Compensation Grant for Small Business in the Perth and Peel region which were severely impacted by the ANZAC Day long weekend lockdown and subsequent restrictions.
Mary 2021 by Aspen Corporate
The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term.