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A stronger than expected economic recovery from the COVID-19 recession has resulted in a budget deficit of $161 billion, $52.7 billion lower than the government’s expected deficit. With the virus still a threat to the global and domestic economy, the Budget contains various measures to support businesses and individuals with job creation, incentives, tax relief and superannuation changes.

Bushfires, COVID-19 lockdowns and recent floods have focussed attention on Business Interruption insurance for both insureds and insurers alike.  Even though 14 years have passed, there are some salutary lessons to be learned by insureds and insurers from the decision of the NSW Supreme Court in Brescia v QBE.

In this edition of Tax Time Monthly we cover updates and findings from ATO on: Fringe Benefits Tax; Tax treatment of government grants and payments during COVID-19; No more JobKeeper but are you eligible for JobMaker; Do you need to review your service trust arrangements in the light of PCG 2021/D2… and much more

JobKeeper – Key Date: 28 March 2021.
The JobKeeper subsidy will end on 28 March 2021 and you can claim payments for your eligible employees until this date.
It will be necessary to consider the necessary adjustments in your business to reflect the withdrawal of this subsidy.

Commercial Leasing Code of Conduct……

In New South Wales, the use of expert witnesses in the Personal Injury Commission is subject to section 35 of the Personal Injury Commission Rules 2021 and Procedural Direction PIC4 – Expert Witness Evidence.

The former Administrators of AMS Holdings (WA) Pty Ltd (Receivers Appointed) (In Liquidation) intend to file an application with the Federal Court of Australia for a determination of their remuneration and disbursements by the Court pursuant to Insolvency Practice Schedule (Corporations) s 60-10(1)(c).

In this issue:
Family law – business valuation checklist;
Insurance – business interruption & COVID-19;
Commercial litigation – ceasing a director, statutory demands and personal bankruptcy;
Other news – recent trends, presentations and other thought leadership.

Yes, your legal entitlements for recovery of loss may be blurred but what is always clear in any claim of business loss, preparation remains absolutely critical. The sooner preparation commences, the better. Whether or not your business interruption claim will be covered under your policy will depend on the precise terms of your insurance cover and the circumstances and nature of the loss, which you claim.

Our guide covers what you need to know about moving to Australia for employment. We include information about non-resident visas, income tax obligations and other taxes and levies that may apply to you.

Doing Business In Australia Global thinking.  Local understanding.  Personal connections.  Our experience is that businesses are investing in Australia for our consistent and strong economic growth, the stability of the banking system and independence of the...