Insights

As we begin the 2020 Fringe Benefit Tax Year, it is important for businesses to continue to maintain their tax obligations - staying current and compliant during this especially uncertain time.

We’ve highlighted the new key measures of support set in place over the last few days by the Federal Government & other bodies to provide assistance to SME businesses, facing on-going challenges as a result of COVID-19.

The QLD Government has now opened applications for the previously announced COVID-19 Jobs Support Loan Scheme.

Earlier today, the Queensland State Government announced its extended economic rescue package - providing an additional $4 billion in financial aid measures.

The Federal Government has announced its second stage release to their Economic Stimulus Package in response to COVID-19.

To assist businesses experiencing financial difficulty as a result of the Coronavirus (COVID-19) outbreak, the Australian Tax Office (ATO) as announced the following relief options:

In response to ever-changing circumstances involving the Coronavirus (COVID-19), the Federal Government has announced their new Economic Stimulus Package - dedicating a $17.6 billion economic plan.

Announced late last month, Federal Parliament has now passed the Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019 or "Superannuation Guarantee Amnesty Bill", and is currently awaiting Royal Assent. 

As a Management Rights owner, Trust Accounting is at the core of your business. Therefore having a software solution which can provide accurate real-time data & automated reporting is essential to on-going compliance & legislative adherence.

Last week, the Federal Government announced its passing of their Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019.