COVID-19 resources - we're here to help
On 15 September 2020, Federal Treasurer, Josh Frydenberg announced registered updates to the JobKeeper rules (Coronavirus Economic Response Package (Payments and Benefits) Amendment Rules (No. 8) 2020) which will see an extension of the support payment for a further six months.
The recent amendments to the Jobkeeper arrangements have changed more than just the monetary value of the Jobkeeper wage subsidy. Employers need to be aware of the changes to ensure that when managing employees they do not breach the Fair Work Act, 2009 (FWA). From 28 September 2020, there will be three different categories of employers in Australia and employers must understand which category they...
The Victorian Government has announced further assistance packages to support businesses to survive and adapt on the road to Covid normal. The two assistance packages, valued at $3 billion and $290 million respectively, will include cash grants, tax relief and cashflow support.
On 21 July 2020 the Federal Government announced the future plans for the Jobkeeper wage subsidy. The current program will conclude at the end of September 2020, and an alternative version of the Jobkeeper wage subsidy will then commence for employers who meet the ongoing eligibility criteria.
On 7 August 2020, the Federal Government announced further proposed changes to the JobKeeper payment.
As the country starts on its road to recovery from COVID-19, with most states gradually lifting restrictions on gatherings and business trading, many businesses are starting to reopen and trade again. If you run a small business in NSW that has experienced a decline in turnover as a result of COVID-19, you may be eligible for a small business recovery grant of between $500 and $3,000.
Extended periods of volatile economic and market conditions have been shown to reduce M&A activity. As the coronavirus disease 2019 (or Covid-19) plagues the world, sectors such as manufacturing, tourism, energy, retail and transport are hit hard by the loss of revenue.
The ATO has confirmed that JobKeeper payments for fortnights ending in June 2020 will be assessable in the following 2020-21 income year.
The Queensland Government announced a second round of funding for the $10,000 Business Adaption Grant Program with applications opening on 1 July 2020, funding will be approved on a first come first served basis until the $100 million pool is allocated.
Key considerations and approaches for adjusting forecasts and scenarios.
ASIC has again provided further relief to Australian companies affected by COVID-19 and is permitting all companies with a reporting / balance date up-to 30 June 2020 (7 July 2020 in some cases) to lodge their financial statements with ASIC up-to one month after the normal lodgement date for the financial report.
The Queensland Government announced a Small Business Adaption Grant Program on 19 May to assist small businesses with payroll of less than $1,300,000 who have experienced significant business disruption as a result of the pandemic.
This information is an overview of the tax treatment of expenses relating to employees working from home including an update on the Australian Taxation Office's (ATO’s) updated guidelines as a result of the Coronavirus (COVID-19) pandemic.
Businesses and individuals are really feeling the challenges as a result of COVID-19 so it will be a relief to some with the extensions that the Australian Taxation Office (ATO) has released around the JobKeeper stimulus and ATO lodgement deadlines.
New Government-imposed restrictions to contain the spread of COVID-19 and the significant implications for the economy mean Australian financial services (AFS) licensees are grappling with how to comply with their many obligations. This article highlights some of the specific challenges you need to think about now and what you should do next.
Jobkeeper applications opened with the ATO as of 20 April 2020. Those employers who are approved for the wage subsidy will have many options available to them in terms of how they utilise existing staff and how they bring back staff who have previously been stood down or made redundant.
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The Covid-19 pandemic is causing uncertainty and disruption around the world. We remain by our clients’ sides during these unprecedented times, helping to protect people and ensure business continuity and service.
In response to the crisis, we have created a free-to-access Covid-19: Mazars Global Resource Centre – a dedicated hub with interactive tools, a global helpline and expert insight to help our clients navigate uncharted territory.
Mazars wants to be by the side of its clients during these difficult times, and support businesses communities around the world. We have opened the Covid-19 helpline so you can discuss any business, tax, legal or technical questions you may have, and we can connect you with the right Mazars expert, wherever in the world you operate. So, Let’s Talk – and we can find a way to help.
<< Click here to contact our experts >>
Our Covid-19 Global Tax and Law Tracker is an interactive tool that helps you understand the Covid-19 legislation and tax measures that impact you and your business, wherever in the world you operate.
<< Click here to access the tool >>
The Mazars Covid-19 Insights Series shares the views and expertise of our teams, helping clients understand the new working world, to deal with today and plan for tomorrow.
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