The Australian Government has recently announced additional support for households and businesses during the COVID-19 pandemic. These changes are summarised below and are yet to be legislated. For more information, please visit the Treasury department’s Economic response to the Coronavirus. Extension of JobKeeper Payment The JobKeeper Payment has...
The 2019/20 financial year is now firmly behind us. Going into the new financial year we will see changes to superannuation, tax concessions for small businesses, penalty rates, minimum wages and much more. The new set of changes will affect almost everyone including individuals, families,...
Despite well formulated investment strategies and appropriate investment advice, no trustee could have foreseen the impacts of COVID-19 on financial markets globally. Whilst history suggests that a strong recovery is likely within a relatively short period after large market corrections, it is still too early...
The COVID-19 pandemic has affected everyone’s lives, and SMSF trustees are no exception. While the worst of the pandemic is (hopefully) behind us, trustees still have difficult questions to ponder as they focus on how best to position their SMSF in 2020-21, as well as meet...
The economic impacts of the COVID-19 crisis are causing significant financial distress for many businesses and individuals. If your SMSF has a related party loan and is impacted due to the financial effects of COVID-19, you may be able to provide your LRBA with relief under...
The Federal Government has now passed legislation and accompanying rules that govern how the $1,500 / fortnight JobKeeper payments will work. At dnm group we are committed to bring you all the latest information in regard to the new Jobkeeper scheme. Below is a summary of...
The Victorian Government has announced tax measures to support businesses through Victoria’s State of Emergency, as part of a broader economic survival package in response to COVID-19. Pay Roll Tax Waived – Tax Relief FAQsLiquor licence fees waived - Tax Relief FAQsLand Tax Deferral - Tax Relief FAQs *It...
The Federal Government has announced its second $66B economic responses which, combined with its previous announcement, total $189 billion across the forward estimates. There are some important proposals that will likely have significant impact to clients. Below you’ll find a round up on whats been...
The Morrison Government’s plan to keep business in business and Australians in jobs provides direct support for business including payments for business, wage subsidies for apprentices and trainees and enhancing the instant asset write-off. With so much information out there we thought we'd point you...
As a global community, we are experiencing challenging times as the COVID-19 situation continues to evolve and change rapidly. With the outbreak continuing to disrupt our homes and workplaces, it’s important that we work together to support each other. While there is uncertainty around the virus,...