Articles

For Business

We present articles here that are of interest to people who run a business; either for themselves or someone else.

Also look at some of our e-newsletters that will keep you current with the latest news.

 

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  • 7th Oct 2020

    Budget Summary 2020

    */ An abnormal budget This has certainly been a year where we have seen many major events impact on us all. Things beyond our control such as fire, floods and a global pandemic. After setting a...
  • 9th Jun 2020

    Change to Victorian foreign purchaser additional duty affecting discretionary trusts from 1 March 2020

    */ A discretionary or ‘family’ trust is commonly used as an entity to acquire residential property due to the advantages that they afford, such as flexible income splitting arrangements. People who...
  • 9th Jun 2020

    FIRB & Residential Real Estate

    In addition to navigating Victoria’s complex stamp duty requirements involving the acquisition of real estate by foreign individuals, companies or trusts, a foreign purchaser needs to first consider...
  • 5th Jun 2020

    Protecting your digital assets

    Cyber risk is one of the leading threats for small businesses in Australia, with the cost of a cyber incident averaging $276,000 for businesses. Whether it’s marketing material, legal documents or...
  • 5th Jun 2020

    Varying PAYG instalments

    Businesses experiencing financial difficulty due to COVID-19 may be over-paying their PAYG instalments if their current rate no longer reflects their estimated tax for the year. This can cause...
  • 4th Jun 2020

    Cybersecurity when working from home

    If your business doesn’t have the right cybersecurity precautions in place, then working from home can put your assets at serious risk. COVID-19 is forcing many businesses to have employees work from...
  • 4th Jun 2020

    Do you need to lodge a Taxable Payments Annual Report?

    Businesses providing services for contractor payments in the past year need to lodge a Taxable Payments Annual Report (TPAR) by 28 August 2020. A TPAR is a building and construction industry-specific...
  • 19th May 2020

    State Government COVID-19 assistance via Business Support Fund

    The Victorian Government announced in March a $500 million Business Support Fund to support businesses that have been significantly affected by the shutdown restriction announced by the Victorian...
  • 17th Apr 2020

    Overview of the reporting of JobKeeper Payments via Single Touch Payroll

    Background: Employers claiming the JobKeeper Payment (JKP) will need to consider how this is reported to the ATO. There are 3 options to notify the ATO and the focus of this article will be to...
  • 15th Apr 2020

    JobKeeper Payment

    The Government has introduced a wage subsidy program called the JobKeeper Payment to provide temporary relief for businesses who have been significantly affected by the economic impacts of Covid-19...
  • 31st Mar 2020

    JobKeepers Payment Subsidy

    */ Yesterday the Government announced a $130 billion wage subsidy package, called the JobKeeper Payment. This is the biggest Federal Government response to the COVID-19 outbreak to date, which is...
  • 12th Mar 2020

    Federal Government announces “Coronavirus” stimulus package

    The Australian Government has today announced a $17.6 billion stimulus package in response to the expected economic impacts of the worldwide COVID-19 Coronavirus pandemic. The measures aim to target...
  • 6th Mar 2020

    Superannuation Amnesty Legislation Update

    The bill to allow an amnesty on late or unpaid superannuation contributions has now received royal assent as of 6 March 2020. This will allow employers to voluntarily disclose to the ATO late or...
  • 23rd Jan 2020

    Superannuation on annual leave loading

    One issue that is creating discussion for many schools is the requirement for employers to pay superannuation guarantee contributions on annual leave loading amounts. The ATO recently reiterated...
  • 23rd Jan 2020

    New Whistle Blower Policy requirements

    */ The Treasury Laws Amendment (Enhancing Whistleblower Protections) Act 2019, which received Royal Assent in March 2019, aims to encourage appropriate whistleblowing, improve the protections for...
  • 11th Dec 2019

    Extending our International Connections

    Saward Dawson has been a member of Russell Bedford International network since 2007. The network now has firms in approximately 100 countries, with 350 offices, 700 partners and 6,500 staff. This...
  • 11th Dec 2019

    FBT-free gifts this Christmas

    With Christmas spirits high, tax doesn't usually come to mind when employers are buying gifts for their staff. Employers can avoid FBT by providing employees with gifts that cost less than $300 per...
  • 11th Dec 2019

    Labour hire arrangements

    At our recent employer obligations seminar, our guest presenter reported how labour hire arrangements in Victoria must now be licensed in accordance with the Labour Hire Licensing Act 2018. A labour...
  • 11th Dec 2019

    Super payments - no margin for error

    On 1 July this year we saw the introduction of Single Touch Payroll (STP). STP delivers to the ATO live information about payroll transactions. This enables them to cross match with other authorities...
  • 23rd Oct 2019

    Update on Remuneration Matters

    We have prepared the following update in relation to various remuneration matters. Please contact us if you would like to discuss any of these, or if you require further assistance. Taxi travel...

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