Business news February 2021

JobMaker hiring credit

COVID-19 measures The JobMaker Hiring Credit scheme (“JobMaker”) is a new government incentive in response to the COVID-19 economic crisis. Read More

JobKeeper ending

COVID-19 measures Don’t forget that the JobKeeper scheme ends on 28 March 2021. The second JobKeeper extension has started and Read More

Investment incentives

COVID-19 measures We have previously told you about 2 temporary measures to encourage business investment: full expensing for the cost Read More

Victorian business support

COVID-19 measures Just before Christmas, the Federal Government declared that various COVID-19 related business grants provided by the Victorian Government Read More

Varying your PAYG instalments

COVID-19 measures To assist taxpayers experiencing financial difficulty as a result of COVID-19, the ATO is providing added flexibility to Read More

No paper PAYG and GST quarterly instalment notices

The ATO is no longer issuing paper instalment notices for PAYG and GST quarterly instalments once an activity statement or Read More

Trading stock taken for private use

What has the ATO been doing? It is common in a number of industries for trading stock to be used Read More

Property sales

What has the ATO been doing? The ATO regularly receives data relating to the purchase and sale of properties from Read More

Online sales – data-matching

What has the ATO been doing? The ATO will acquire data on Australian sales made through online selling platforms through Read More

Vehicle registrations – data-matching

What has the ATO been doing? The ATO will acquire motor vehicle registry data from State and Territory motor vehicle Read More

ATO prosecutions

What has the ATO been doing?   The ATO has publicised a number of successful prosecutions for tax fraud, presumably Read More

Insolvency reforms

Other News Important changes to Australia’s insolvency laws commenced on 1 January 2021. The Assistant Treasurer has said that they Read More