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News

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On 6 October 2020 the Federal Treasurer, Josh Frydenberg, delivered the Federal Budget for the 2020–2021 income year. It will be remembered as Australia’s biggest spending budget with a forecast deficit of $214 billion for the 2021 fiscal year. Treasury’s underlying cash balance will deteriorate by $480.5 billion over the forward estimates period. The budget...

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If you’ve paid a tradie or other contractor for building and construction services in the past year, you might need to lodge a Taxable payments annual report (TPAR) by 28 August. You need to lodge a TPAR if you pay contractors for building and construction services and: you earn 50% or more of your business income...

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On 6 March 2020, the government introduced a super guarantee (SG) amnesty (the amnesty). The amnesty allows employers to disclose and pay previously unpaid super guarantee charge (SGC), including nominal interest, they owe their employees, for quarter(s) starting from 1 July 1992 to 31 March 2018. Eligible disclosures will not incur the administration component ($20 per employee...

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Prime Minister Scott Morrison and Treasurer Josh Frydenberg have announced that the current $1,500 per fortnight JobKeeper payment will be reduced to $1,200 per fortnight from 28 September, and $750 per fortnight for employees working less than 20 hours a week. From 4 January, the rate will again fall to $1,000 per fortnight, and $650...

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What does the future look like for investors as we ease out of covid-19 imposed isolation and the global ‘economic coma’, and enter the first stages of share market and economic recovery? Emmanuel Calligeris, Chief Investment Officer of GPS Wealth shares his views on what the future holds for the global economy and your investment...

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Introduction If you are a commercial or residential landlord and have suffered a reduction in rental income from tenants due to COVID-19, you may be eligible for the NSW Government’s land tax relief. This measure was announced in early April and was the subject of one of our earlier newsletters. We can now advise the application process...

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Our JobKeeper and CashFlow Bonus explainer videos provide an easy way for you to understand the benefits of these initiatives that maybe vital to yourself and your business. We can now advise that the Australian Taxation Office has released details of how to apply for the Jobkeeper wage subsidy. Please refer to the below link...

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2020 Quantiphy – Eastern Suburbs, Sydney. All Right Reserved. Website By Omni Online