The government has made a number of changes to temporary visa holder arrangements during the COVID-19 crisis. The Department of Home Affairs says these measures have been made to protect the health and livelihoods of Australians, to support critical industries, and to boost recovery afterwards. Home Affairs records show that there are 2.17 million temporary …
Changed Conditions For Covid-19 For Temporary Visa Holders Read More »
The Federal Government has announced stage 2 of its economic plan to provide financial assistance to Australians. Boosting cash flow assistance Cash flow assistance ► The Government is providing up to $100,000 to eligible small and medium-sized businesses, and not-for-profits (including charities) that employ people, with a minimum payment of $20,000. ► Under the enhanced …
Federal Government’s Second Coronavirus Stimulus Package Read More »
Volunteer payments and expenses may have tax implications! From bushfire relief groups, sporting clubs, environmental groups, charity associations and many more, volunteers are an indispensable workforce and support network for many organisations. For most, if not all, having volunteers ready to lend a hand is pivotal in them being able to function or survive. Many …
What is Personal Services Income? The personal services income (PSI) rules apply to income that is earned mainly from the personal efforts or skills of a person. It does not matter whether the income is earned by the individual in their own name or through an entity such as a business. The rules do not …
APRA releases the latest statistical report for SMSF growth The latest statistical report from APRA has been released (here’s a link to download it — https://bit.ly/2kIH9Oz), focuses mainly on the APRA-regulated superannuation funds in the retail and industry sectors. But the APRA statistics also make passing mention of ATO-regulated funds, the SMSF sector, which from June …
SMSF Sector Continues To Grow (As Shown In Recent Statistical Report) Read More »