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NSW Premier Gladys Berejiklian has now committed $450 million to waive the payroll tax for businesses with payrolls of up to $10 million for three months ending 30 June 2020.
The Federal Government has just announced a relief package for the child care and early childhood education sector. The relief package is designed to:
Under the JobKeeper Payment, businesses significantly impacted by the coronavirus outbreak will be able to access a subsidy from the Government to continue paying their employees
The Federal Government has announced the introduction of a new JobKeeper Stimulus Payment to assist eligible employers and the self-employed who have been impacted by the Coronavirus pandemic.
2020 Tax Planning is a must for every business. All businesses should be looking at ways to save tax and take advantage of the government stimulus package.
On Sunday 22 March 2020 the Government released a second, far reaching $66.1 billion stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws.
– Tax Planning is something you should do every year and well before the end of the financial year to give your-self time to plan. This is especially the case during a downturn.