$1,500 JobKeeper subsidy to keep staff employed

Stuart542 Clients, COVID19, General, Super, Tax

A subsidy of $1,500 per fortnight per employee, administered by the ATO, will be paid to businesses that have experienced a downturn of more than 30% (50% for businesses over $1bn). To be a part of the subsidy, employers will need to ensure that their employees receive at least $1,500 per fortnight (before tax). See the example below. Eligibility There … Read More

COVID-19 Preparation Checklist for Businesses

Stuart542 Clients, Business Audit, Business Process, COVID19, General, Tax

As the COVID-19 pandemic unfolds, we are across important updates around the economic response and stimulus package announcements. And will continue to share these important updates with you via email and our social channels. The below PDF is free to download and contains a summary of action items to review immediately to ensure your business is prepared. Don’t wait before acting, get started … Read More

COVID-19 Preparation Checklist for Business Owners

Stuart542 Clients, Business Audit, Business Process, COVID19, General, Tax

As the COVID-19 pandemic unfolds, we are across important updates around the economic response and stimulus package announcements. And will continue to share these important updates with you via email and our social channels. The below PDF is free to download and contains a summary of action items to review immediately to ensure your business is prepared. Don’t wait before acting, get started … Read More

The Second $66.1 bn Stimulus Package: What You Need To Know

StuartAustralian Budget, COVID19, General, Tax

The Government yesterday released a second, $66.1bn stimulus package that aims to boost income support payments, introduce targeted changes to the superannuation rules, provide cash flow support of up to $100,000 for small business employers and relax corporate insolvency laws.   The stimulus measures proposed, are not yet legislated. Parliament reconvened yesterday and we await further announcements.    The Prime Minister has warned there are no “quick … Read More

The 542 operating procedure and Coronavirus management plan

CraigCOVID19, General

542 Partners Office

The wellbeing of our clients and our staff will always be our highest priority. As the situation unfolds, we’ll be in touch with any updates to our meeting and health and safety procedures, however in the meantime please rest assured that especially in times of uncertainty, we are business as usual, while employing health and safety measures to reduce possible exposure. … Read More

The Stimulus Package: What You Need To Know

StuartAustralian Budget, COVID19, General, Tax

The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus.   The yet to be legislated four-part package focuses on business investment, sustaining employers and driving cash into the economy. For business Business investment Increase and extension of the instant asset write-off Accelerated depreciation deductions Cash flow assistance … Read More

$17.6B Stimulus Package in response to COVID-19

StuartAustralian Budget, COVID19, General, Tax

Today the Federal government announced a $17.6 billion economic stimulus package in an attempt to prevent a recession caused by the coronavirus outbreak. The Prime Minister anticipates the economic measure will benefit around 690,000 businesses employing 7.8 million people. It is estimated the stimulus will inject $22b into the domestic economy and will include initiatives to: Fast track investment Subsidise … Read More