Ian Lewis, Director – discussing Queensland’s recent changes to construction industries QBCC annual financial report. Calling all workers in the construction industry! Have you submitted your QBCC Financial Report? The annual report is a quick health check of license to ensure every building contractor who operates in Queensland has a strong business with a sufficient […]
COVID-19 has had a massive impact on Australian businesses and the economy. Due to this, there has been a number of important financial lessons that your business can learn from to ensure ongoing success and prompt recovery. The importance of contingency planning COVID-19 has highlighted the saying ‘those who fail to plan, plan to fail’. […]
Great news for those that are continuing to work from home this year – the Tax Office has now extended the 80¢ per hour shortcut method until 30 June 2021. This is the third time the Tax Office has extended the shortcut method. It was first due to expire at the end of the last […]
The JobKeeper Payment (JKP) has been extended and covers the JobKeeper fortnights from Monday 4 January 2021 to Sunday 28 March 2021. Businesses are required to re-assess their eligibility to remain in the scheme and must satisfy two separate decline in turnover tests, being: the original projected GST decline in turnover test and the new […]
WHAT IS QBCC ANNUAL REPORTING? Queensland has introduced new laws to assist in building a stronger and fairer construction industry. The introduction of annual financial reports is to evaluate the financial strength of contractor grade licenses in Queensland. Thus, the annual report is a quick health check of your license to ensure every building contractor […]
The ATO has announced that the JobKeeper deadlines for the second extension period have now been extended ahead of the Christmas season! To be reimbursed for payments between 23 November 2020 and 3 January 2021, employers now have until the 28 January 2021 to complete their December business monthly declaration instead of the usual 14th […]
We all have a savings goal that we would like to reach – whether you’re saving to buy a house, upgrade your car or go on holiday. Sticking to a budget can be difficult – especially during times where many have lost their job or seen a decrease in household income due to Covid-19. 1. The 50-30-20 […]
With the Australian Federal Budget announced last night, it can be overwhelming to make sense of the changes. We have broken down to what you need to know below: TAX CUTS Stage 2 Tax Cuts have been brought forward and backdated to 1 July 2020 (originally legislated to kick-in in two years’ time). The widely […]
On 21 July 2020, the Government announced that the JobKeeper Payment (JKP) would be extended by a further six months to 28 March 2021 on a scaled-back basis, with businesses being required to re-assess their eligibility to remain in the scheme. As employers will be required to re-assess their eligibility for the JobKeeper scheme whereby […]
The Government has amended the JobKeeper rules to allow more employees to qualify for the JobKeeper payment. This is achieved by extending the eligible employee test to also include eligible employees who were employed on 1 July 2020 (in addition to those employed on the original 1 March 2020 employment date). As a result, more […]
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