On Tuesday 7 April 2020 the National Cabinet released a mandatory code of conduct containing “good faith leasing principles”, which will apply to all commercial tenancies. Each state and territory will pass their own legislation and regulations to give effect to the mandatory code.
The Government has announced a $130 billion JobKeeper payment to help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus.
With the rapidly changing environment surrounding the Coronavirus COVID-19 and the amount of information being supplied by both Federal and State Governments, there is a wealth of information and support for businesses to digest.
Today’s economic environment and the impact of world health concerns continue to send major shock waves around the globe. As a business owner, you are facing new challenges, the likes of which you may have never experienced previously. Successfully managing through economic uncertainty is not only challenging but also critical due to the increasing pace of change.
On 22 March 2020, the Federal Government announced its second stimulus package to protect the Australian economy from the economic impact of the Coronavirus. The second set of economic responses, combined with previous actions, total $189 billion.
The March 2020 issue of Tax Time Monthly covers SG Amnesty, Corona Virus Stimulus Package and FBT tips.
Preparing for Business Disruption is a very real issue many QLD businesses are facing at the moment. To read more about how your business can strategically prepare for business disruption, click here.
The Queensland government has recently announced some initiatives for businesses impacted by the effect of COVID-19 (coronavirus). Two key announcements are:
1. Deferred payroll tax payments
2. Immediate Industry Recovery Package
The Australian Parliament has passed new legislation allowing concessions to those employers who have underpaid Superannuation Guarantee (SG). If you have outstanding superannuation obligations you have from 26 May 2020 to 7 September 2020 to self-report SG non-compliance and apply to the ATO for amnesty.
The Federal Government recently announced a $17.6 billion stimulus package to counteract the economic impact of Covid-19 (Coronavirus).
