Economic recovery could be slower than anticipated: RBA

 

The Reserve Bank of Australia has warned the economic recovery from the COVID-19 pandemic remains uncertain, with its latest figures being worse than those predicted three months earlier.

 

High Court rules in favour of employers on personal leave accruals

The High Court of Australia has preserved the long-standing industry practice regarding personal/carer’s leave accruals in a significant ruling that has been welcomed by employers that were potentially set to face a substantial back-pay bill.

 

COVID-19 resources – Jobkeeper, Victoria Stage 4 Update

 

Several new links have been added to the many already in this article, links that date back to the beginning of the COVID-19 pandemic.  If you have any questions, or require further assistance, please send us an email or phone.

 

JobKeeper Phase 2 – The Next Step

 

The Government has decided to extend a lower JobKeeper for a further six months (13 fortnights) from 28 September this year, with eligibility based on actual rather than projected turnover declines.

 

Payroll Tax 2020 concessions and JobKeeper

 

Employers subject to payroll tax will generally benefit from an expected relaxation of payroll tax by all states & Territories.

 

High alert issued over myGov tax time scam

 

The Australian Cyber Security Centre has now issued a high alert over myGov-related scams as tax time scams increase.

 

Extended director penalty regime to catch out ‘zombie companies’

 

Directors of companies struggling through COVID-19 conditions could be at particular risk of the recently expanded director penalty notice regime, warns one tax lawyer.

 

SG amnesty deadline – 7 September

 

Small businesses have been urged to disclose historical superannuation guarantee shortfalls ahead of the fast-approaching SG amnesty deadline.

 

‘Hundreds’ to be contacted in ATO early super compliance blitz

 

Hundreds of Australians who applied for the COVID-19 early release of superannuation are set to be queried on their eligibility as the ATO kicks off a pilot compliance program.

 

90,000 SMEs to benefit from new JobTrainer program

 

The government has announced a $2.5 billion JobTrainer program, giving 340,000 Australians the opportunity to retrain or upskill into sectors with job opportunities, including an additional $1.5 billion to expand the apprentice and trainee wage subsidy.

 

 

ATO announces Div 7A COVID-19 assistance

Taxpayers affected by COVID-19 will now be able to request for an extension of time to meet the minimum yearly repayment on complying Division 7A loans.