JobKeeper assessment: Treasury report released

JobKeeper assessment: Treasury report released

Treasury has released the Independent Evaluation of the JobKeeper Payment Final Report. The report considers both the impact and processes of JobKeeper. The evaluation assesses the effectiveness of JobKeeper in achieving its objectives, and records lessons learned...
Minimum pension payment changes

Minimum pension payment changes

Retirees who draw an account-based pension from their super need to be aware that the 50% reduction in the minimum pension drawdown rate for superannuation and annuities which applied for previous years will no longer apply from 1 July 2023. This temporary measure was...
“Buy now pay later” sector facing more regulation

“Buy now pay later” sector facing more regulation

As foreshadowed last year, the “buy now pay later” (BNPL) market will soon be facing more regulation. Assistant Treasurer Stephen Jones recently announced that the government will be moving forward to bring BNPL within the Credit Act’s application to apply a tailored...
ATO Compliance

ATO Compliance

ATO compliance: economic stimulus measures Businesses that have accessed government economic stimulus measures need to take extra care this tax time. The ATO has announced that it will increase its scrutiny, conducting compliance activity on various economic stimulus...
COVID-19 lockdown support

COVID-19 lockdown support

COVID-19 lockdown support: NSW, Vic and SA If your business or employment income has been affected by recent COVID-19 related lockdowns in New South Wales, Victoria and South Australia, financial help is available from both the state and Federal governments. Depending...
Salary sacrifice donations

Salary sacrifice donations

Workplace giving versus salary sacrifice donations Have you made donations either through workplace giving or salary sacrifice arrangements with your employer? If so, and you want to claim a deduction in your tax return, it’s important to know that the tax treatment...