by Swot Accoountants | Dec 3, 2020 | Business News
In Australia, as much as 97% of all businesses fail. According to the Australian Bureau of Statistics, more than 60 percent of small businesses fail just in the first three years of their operations. That’s a scary statistic for hard-working individuals that are...
by Swot Accoountants | Oct 9, 2020 | Business News, Tax & Compliance
Personal income tax cuts from 1 July 2020 Personal income tax cuts backdated – The ATO has clarified that it will not adjust the over-withheld taxes from 1 July 2020, but instead, these over-withheld amounts will be included in the taxpayer’s tax assessments at the...
by Swot Accoountants | Sep 12, 2020 | Business News, Business Training, Companies & Trusts, Tax & Compliance
If you are starting a new business or your existing business is paying too much in tax, it is essential that the business owner/s seek expert accounting and legal advice concerning the business structure and asset protection. Running a business as a sole trader or in...
by Swot Accoountants | Aug 16, 2020 | Business News, Coronavirus (COVID-19)
JobKeeper 3.0 Adjustments to Decline in Turnover Test and Employee Eligibility On 21 July 2020, the government announced that the JobKeeper Payments will be extended until 28 March 2021. In addition, on 7 August 2020, the government announced adjustments to JobKeeper...
by Swot Accoountants | Aug 7, 2020 | Business News, Coronavirus (COVID-19), Tax & Compliance
To be eligible for the JobKeeper Payments from 28 September 2020, businesses will be required to meet a decline in GST turnover for each period of the extension. From 28 September 2020, businesses seeking to claim the JobKeeper payments will be required to demonstrate...
by Swot Accoountants | Jul 23, 2020 | Business News, Coronavirus (COVID-19), Tax & Compliance
On 21 July 2020, the government announced changes to the JobKeeper program and extended it through to 28 March 2021. Employers To be eligible from 28 September to 3 January 2021, the employer must measure decline using actual GST turnover in both the June and...
