News Archive

With 2021 well and truly underway, many Australian businesses are beginning to see the upswing from the economy. However, there are still sectors that continue to rely on JobKeeper to keep their employees on board.

This month we look at the third and final stage of JobKeeper and how to continue to access it, what is important if you are considering selling your business, and what happens if you need to wind up your business.

As always, if you have any queries, contact our team on 9957 4033.

	The Final Stage Of JobKeeper And How To Access It The impact of COVID-19 has been felt very differently from region to region, as business owners have had varying degrees of lockdowns and trading impediments to those that have been able to benefit from the 'new normal.'
	Sole Trader Granted Access To JobKeeper With Backdated ABN A sole trader who was able to backdate his ABN has won access to JobKeeper payments in a recent case before the Administrative Appeals Tribunal (AAT).
	How to sell your business Selling your business usually means there ate two key components in play: Structuring the transaction and positioning the business to the market. Both elements are important and can significantly impact the outcomes of the sale.
	Winding-up: Simplifying small business insolvency Business insolvencies often rise at this time of year, however COVID and the ongoing impacts to the economy are likely to have an amplifying effect in 2021. As new insolvency laws come into place, the process of winding up a business is set to become simpler.
	Consultation on self-education deduction expansion An announcement in October's Federal Budget indicated that FBT may be removed from fringe benefits relating to retraining or reskilling employees. Treasury has released a consultation paper outlining possible amendments to how self-education costs may be deducted.
	Tax and super obligations for foreign employers The ATO has released a fact sheet to assist foreign resident employers to comply with their PAYG and super guarantee obligations for employees in Australia.

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Disclaimer

This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.