written by:
Josh McMullen
The 2020 Federal Budget was handed down on Tuesday 6 October. Following is a summary of the headline measures. BUSINESS Extension of the Instant Asset Write-Off – businesses with aggregated annual turnover of less than $5 billion will be able to deduct the full cost of eligible capital assets acquired from 7:30pm AEDT on 6 October 2020 (Budget night) and first used or installed by 30 June 2022. “Full expensing”…
written by:
Darren Hagarty
On 30 March 2020, the Federal Government unveiled their latest economic response to the Coronavirus, a $130-billion government wage subsidy known as the JobKeeper Payment. Under the JobKeeper Payment, businesses impacted by the Coronavirus will be able to access a subsidy from the Government to continue paying their employees. Affected employers will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a…
written by:
Darren Hagarty
Banks are working with their customers to provide support through the COVID-19 pandemic. This is on the back of a range of measures announced by the government as part of their Coronavirus Stimulus Package, including: Loan Repayment Relief Banks will defer loan repayments for six months for small businesses who need assistance because of the impacts of the coronavirus. SME Loan Guarantee Scheme The Government will establish the Coronavirus SME…
written by:
Josh McMullen
In response to the economic fallout from the Coronavirus, the Government has announced a range of measures to assist business and individuals. These measures are all subject to the passage of legislation through Parliament. Business Investment $700 million to increase the instant asset write off threshold from $30,000 to $150,000 and expand access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million) until…
written by:
Darren Hagarty
I was recently asked to present at a brilliant event tailored to those in the creative industry that were either contemplating going into business for the first time, or very new to business. As I thought through what would be the best topic to present, it occurred to me that what would be really valuable was a flyover of the key things to get right in the crucial early stages of a…
