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      7 Alternative tests for JobKeeper payment

      7 Alternative tests for JobKeeper payment

      An alternative decline in turnover test for the JobKeeper payment scheme has now been registered by the ATO. The legislative instrument, Coronavirus Economic Response Package (Payments and Benefits) Alternative Decline in Turnover Test Rules 2020, says the...
      Early Release of Super – COVID-19

      Early Release of Super – COVID-19

      As a part of the safety net stimulus packages, the government announced that individuals that are adversely effected by coronavirus (COVID-19) can look to an early release of their Superannuation and  may be able to access up to $10,000 of their super before 30...
      JobKeeper Payment – No employees? no problem!

      JobKeeper Payment – No employees? no problem!

      The ATO has put out guidance on how sole traders and some other entities such as partnerships, trusts or companies may be entitled to the JobKeeper payment scheme. Entitlement may be possible for an “eligible business participant” (more below), according to the ATO....
      $66.1bn Stimulus package: what you need to know

      $66.1bn Stimulus package: what you need to know

      The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes...
      Simple explanation of a discretionary trust

      Simple explanation of a discretionary trust

      The purpose of a trust is to separate the legal and beneficial ownership of assets. The legal ownership of the asset rests with the trustee. The beneficiaries benefit from the income that flows from the assets. A trust is not a legal entity. It is best described as a...