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Photo By Towfiqu Barbhuiya The Australian Government unveiled its annual budget this week, which aims to stimulate economic growth, address long-term challenges, and improve social services. The budget is focused on helping with the cost of living, with tax cuts for middle and low-income earners, while also allocating funding to health, education, and small businesses. If you have any questions about how this budget affects you, please get in touch.…  Read more

Treasurer Josh Frydenberg has released the 2022 Federal Budget ahead of a Federal election in a few months. This article has a summary of the “Winners and Losers” of the Budget and we’ve compiled a recap of the key points below. Get in touch with us if you have any questions. A Quick Overview Due to soaring fuel prices, the fuel excise tax will be cut in half, saving motorists…  Read more

Treasurer Josh Frydenberg has released the 2021 Federal Budget and confirmed Australia’s economy is performing more strongly than was expected six months ago. This article has a summary of the “Winners and Losers” of the Budget and we’ve compiled a recap of the key points below. Get in touch with us if you have any questions. A Quick Overview This budget assumes our international borders won’t reopen until mid-2022. $1.9…  Read more

The Australian Government’s JobKeeper scheme is set to end on the 28th March 2021. Since this program was introduced in March last year, it has provided a lifeline to many businesses, protected jobs, and helped protect Australia’s economy. Now that it’s about to end, you may be worried about your business. We’ve compiled our top tips to help you prepare your business for what’s next. Create a cashflow forecast. Cashflow…  Read more

Australians to Receive Tax Cuts The Australian Government approved $17.8 billion in personal tax cuts, quickly pushing through measures announced last week to support the country’s economy. More than 11 million Australians and 1 million businesses will begin receiving tax relief within weeks after the measures have been approved. The Government will bring forward its planned tax cuts meaning millions of Australians will have more money in their pockets, potentially…  Read more

  The Federal Budget was released on Tuesday 6th October. This article has a good summary of the “Winners and Losers” of the Budget. You’ll also find a recap of the key points below. Key Points: This budget is based on economic assumptions including that there will be a COVID-19 vaccine rolled out by the end of 2021. Tax cuts for workers – more money in pockets for more Australians.…  Read more

The JobKeeper Payments Amendment Bill was introduced in the House of Representatives on Wednesday 26th August. We appreciate your patience as we process these changes This Bill introduces the extension of the JobKeeper scheme that was announced last month. The proposed rate changes will see the current $1500 per fortnight payment drop to $1200 for full time workers. and $750 for those working less than 20 hours per week from…  Read more

Since the government announced the $70-billion JobKeeper program to support businesses and their employees during the COVID-19 pandemic, many small- and medium-sized businesses and non-profit organisations heavily relied on this scheme to stay afloat. According to a recent survey by the Australian Institute of Company Directors on the impact of COVID-19, over 40% of the respondents reported reliance on JobKeeper payments. 47% of SMEs indicated that the JobKeeper Scheme had…  Read more