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NSW 2021 COVID-19 Business Grant – full guidelines released

After two earlier announcements, the detail of the NSW Government’s 2021 COVID-19 Business Grant was released on 19 July 2021.

Changes to car parking Fringe Benefits Tax: are you eligible for exemption?

Car parking provided to employees on site or near their office is a common benefit for many businesses. Many employers have previously been covered by the car parking fringe benefit exemption due to the business turnover or the absence of a commercial parking station within 1km radius of the business premises. However, a change to the meaning of ‘commercial car park’, as announced by the ATO in a recent ruling may impact car parking Fringe Benefits Tax (FBT) liabilities for affected businesses.

NSW – 2nd major business support announcement

Due to the severity of the recent outbreak of the Covid-19 Delta variant, the Commonwealth and NSW Governments have seen the need to significantly expand their support for businesses suffering through the lockdown. This article addresses the new measures and the expansions to the existing measures announced two weeks ago.

Are we getting closer to mandating Covid 19 vaccination in workplaces?

Recently, the Federal Government announced that it would become mandatory for employees in residential aged care to be vaccinated for Covid 19 to be able to continue to work in those settings. All workers in these settings must have had, at least their first dose of a vaccine by a date to be set in September 2021.

NSW’s 2021 lockdown – support packages amended

With the extension of the Greater Sydney Lockdown announced yesterday, even more businesses might need to take advantage of the NSW Government’s Small Business COVID-19 Support Grant and Hospitality and Tourism COVID-19 Support Grant. These grants aim to help businesses by alleviating cash flow constraints while trading is restricted in respect of business expenses for which no other government support is available.

ASIC changes to allow for certain AFS licensees to use lease assets to fulfil their licence financial requirements

From 28 April 2021, changes have been made to the financial requirements for some types of Australian Financial Services (AFS) licensees relating to the treatment of leased assets.

Supply chain resilience initiative grants program

This month, the Australian Government launched their $107million Supply Chain Resilience Initiative Grants Program to equip Australia to respond to future supply chain disruptions.

Ignite Ideas round 8 now open

This month the Queensland Government opened applications for grants under their Advance Queensland Ignite Ideas Fund.

Income protection insurance policy changes: the impacts and opportunities

By October 2021, all life insurance offices will cease to offer the current on-sale series of retail income protection products and migrate to offer policies designed to comply with a new series of ‘sustainability measures’ desired by the Australian Prudential Regulation Authority (APRA).

Greensill case prompts re-think of discretionary trusts as foreign investment vehicles

Has the death knell been rung for non-residents investing in non-real estate assets via Australian discretionary trust structures?