Accounting & Financial Reporting

Federal Government’s Second Coronavirus Stimulus Package

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 …

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Tax rules on volunteer payments and expenses

Tax On Volunteer Payments And Expenses

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 …

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SMSF Sector Continues To Grow (As Shown In Recent Statistical Report)

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 …

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