The Superannuation Guarantee amnesty is now law July 29, 2020 | Business, Superannuation On 6 March 2020 the Superannuation Guarantee amnesty amendment officially passed into law. This means the superannuation guarantee amnesty for employers has now been officially introduced, allowing employers to begin taking advantage of it. Businesses now have until 11:59pm on 7 September…

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How to avoid being scrutinised by the ATO: tradies version July 28, 2020 | Tax Tradies are predicted to be in the crosshairs for ATO this year as they tend to present data inconsistencies in their reported income. Here is how to avoid being the ATO audit target:   1. Report your cash income As…

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COVID-19 SME guarantee scheme extended July 23, 2020 | Business, COVID-19 The Government underwritten cashflow loans for business was brought out months ago when COVID-19 started impacting our economy. Eligible lenders are currently offering guaranteed loans up to 30 September 2020 on the following terms: Available to SMEs, including sole traders and not-for-profits, with a turnover…

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JobTrainer: what you need to know July 21, 2020 | Business, COVID-19 The Government has announced the $2.5bn JobTrainer package to retrain, upskill and open new job opportunities. The JobTrainer package has expanded the number of businesses that can access the 50% apprentice wage subsidy and extends the subsidy until 31 March 2021 (from 30…

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JobKeeper update: announcement of extension to March 2021 July 21, 2020 | Business, COVID-19 On 21 July, the Federal Government announced that its extending JobKeeper until 28 March 2021 while introducing refinements to ensure that it is targeted to support those organisations which continue to be significantly impacted by COVID-19.    Existing JobKeeper payments and eligibility  Firstly, note that there is no…

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First online marketplace for Australian-made goods launched July 20, 2020 | Business It was an initiative that began as an Instagram page in mid-March, when the COVID-19 hit our economy, has now launched the first online marketplace for Australian-made products. Buy Aussie Now marketplace is a website that will feature over 2000 small businesses across…

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Energy efficiency grants for small businesses July 14, 2020 | Business Make your business more energy efficient and reduce your power bills with the small business energy efficiency grants. These grants are available to small businesses with a turnover under $10 million a year. These grants will enable support equipment upgrades designed to reduce energy…

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Managing debtors and cashflow for small business owners July 9, 2020 | Accounting, Business, Tips and Tricks Managing debtors (otherwise known as accounts receivable) is a requirement of doing business for most businesses, small and large. A key aspect of well managed cashflow is keeping the gap between receiving money from customers and paying money…

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