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Victorian Business Support Fund

The Victorian Government has launched the $500 million Business Support Fund to help small businesses survive the impacts of the coronavirus (COVID-19) pandemic and keep people in work.

Monthly Snapshot - April 2020

We have kept this update as free of COVID-19 content as possible, as a well-needed break for everyone. There are still other deadlines and updates to keep track of, such as the new Fringe Benefit Tax Year and the Super Guarantee Amnesty. 

What is the "JobKeeper" Allowance and who can apply?

"JobKeeper" is a new measure from the Government to keep people employed and paid during the COVID-19 economic crisis. A fortnightly payment will be made to eligible employers to subsidise wages and keep their staff in work. 

Fringe Benefit Tax 2020 - Year End Update

 The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees.

Practical Positivity

A framework to help business owners to see their situation through a different lens and move upward.

Minimum Pension Withdrawals Cut in Half for 2020 & 2021

Superannuation minimum drawdown requirements for account-based pensions and similar products will be reduced by 50% in 2019-20 and 2020-21.

COVID-19 & Aintree Group

It's an uncertain time for us all, and everyone is having to adapt in a variety of ways. If this is of interest to anyone in our network, here are the ways we are handling Coronavirus (COVID-19) in our business. 

Coronavirus Implications for Employers & Employees

Crayshaw Consultants have gathered pertinent information regarding employment in the wake of COVID-19. We wanted to share this information for the benefit of our clients and wider network. Of course, the situation is ever-changing, so please get individual advice if you'd like further information. 

ATO Assistance & Deferrals for those affected by COVID-19

In order to assist taxpayers during this uncertain time, the ATO is introducing administrative relief measures and pledging flexibility. 

Coronavirus Stimulus Packages: What You Need To Know

Two Coronavirus Stimulus packages have been announced by the government (so far) to support the economy as we brace for the impact of the coronavirus.

Asking your friends for tax advice is the same as asking them to do your brain surgery

There is a reason accounting and tax specialists exist! It's important you get expert advice from a qualified professional to ensure you're meeting your obligations and not leaving yourself open to severe penalties. Being misinformed will not excuse you from those penalties. 

Expats and foreign residents excluded from tax exemption

Non-residents are now excluded from accessing the main residence exemption. The retrospective changes directly impact foreigners and expats whose main residence is in Australia or overseas.

How do I know if I'm an Australian resident for tax purposes?

Many people believe it is just a matter of how much time you spend out of the country, but it can be more complex than that. There are four tests that are used to work out your residency status...

The consequences of underpaying your staff

It’s absolutely vital to business success that you're paying your staff what they are entitled to. There have been some recent instances of high-profile corporations being called-out for underpaying their staff, and it's an issue that all business owners - regardless of business size - should be on top of. 

ATO Targeting "Lifestyle" Assets

The ATO is looking for discrepancies between reported income and assets. For example, reporting an annual income of $70,000 but owning a $3 million yacht! 


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