https://www.youtube.com/watch?v=5MmNcIIax-k&t=121sThe JobKeeper Payment will be extended by six months to 28 March 2021 and the temporary Coronavirus Supplement for those on income support will be extended until 31 December 2020.The JobKeeper Payment has been instrumental in supporting job retention, maintaining employment links and business cash flow, as well as providing...
Author: Patrick
JobKeeper Stimulus – $1,500 per employee per fortnight
The biggest in Australia’s History Aim The government has announced $130 billion to fund a new JobKeeper payment with the aim to keep employees employed. Benefit Businesses will receive a fortnightly wage subsidy of up to $1,500 per employee as part of a Federal Government bid to prevent millions of...
Coronavirus – Government Stimulus Package for Small Businesses in Australia
The government has just announced plans to stem the coronavirus impact and hopefully ensure the country does not go into a recession. The stimulus package is worth $17billion and should give a much needed boost to the economy which is yet to see the worst. Here’s what you need to...
Sole Trader vs Company
The main difference between a sole trader vs company is the following; a sole trader traders under an ABN in your personal name; and, a company is a separate legal entity with its own ABN, ACN & TFN So, what does this mean? From a tax perspective, any profits (income less expenses)...
ATO Single Touch Payroll
Single Touch Payroll (STP), is a new way of reporting tax and superannuation information to the Australian Taxation office (ATO). With STP you report employees' payroll information – such as salaries and wages, pay as you go (PAYG) withholding and super – to the ATO each time you pay them...