Keeping You Up To Date

Building a bridge to recovery In what has been billed as one of the most important budgets since the Great Depression, and the first since the onset of the COVID-19 pandemic dragged Australia into its first recession in almost 30 years, Treasurer Josh Frydenberg said the next phase of the journey is to secure Australia's future. As expected, the focus is on job creation, tax cuts and targeted spending to get the economy over the COVID-19 hump. The Treasurer said this Budget, which...

With June 30 behind us and the economy slowly re-opening, most business owners are thinking about the challenge of repairing and rebuilding their finances after the COVID-19 lockdown. Over the next few months, key tests will come with the withdrawal of government stimulus measures like JobKeeper and the return of your normal wages, rent and financing expenses. An end to landlord rent deferrals and business loan repayment holidays, for those who had them, will make cashflow and debtor ma...

Just when you thought you had a grip on the superannuation rules, they change again. This time though, the changes are mostly positive, especially for older super members keen to top up their savings. From 1 July 2020, changes came into effect with the potential to help retirees as well as members suffering financial hardship due to the economic impacts of COVID-19. If you are not working you may be able to contribute to super for longer, while couples can take advantage of spouse contr...

The JobKeeper Payment has been extended by a further six months to March 2021, targeting support to those organisations which continue to be significantly impacted by COVID-19. From 28 September 2020, eligibility for the JobKeeper Payment will be based on actual turnover in the relevant periods. The payment rate will be reduced and a lower payment rate will be introduced for those who work fewer hours. Other eligibility rules remain unchanged. Business eligibility Organisations seekin...

Have casual workers been granted annual leave? News headlines recently stated that casual workers have won the right to paid leave following a decision in the Federal Court. As usual, the devil is in the detail. At present, there is no global change granting Australian casual workers paid leave. The case however, highlights the long running problem of determining over time, who is a permanent staff member and entitled to paid leave and other benefits, and who is a casual worker entitled...