Do you have ATO debt greater than $100k?

For many businesses, ATO debt can be a serious issue. At the end of 2020 ATO debt stood at around 34 billion – this is its largest ever debt.  Change in legislation means unpaid business tax is reported to credit agencies. In 2018, legislation was passed that empowered the Australian Tax Office to start reporting unpaid business tax debts to …

Will NSW and Victoria SME’s thrive after lockdowns?

While it’s understandable to think that many business owners are languishing in lockdown, findings from a recent survey paint a very different picture. The survey was commissioned by Corporate Traveller Australia, the SME travel provider and questioned an independent panel of 161 SME business owners in NSW and Victoria. More than a quarter had not been impacted by the lockdowns …

Covid support for business

With Covid-19 lockdowns once again wreaking havoc across the country, particularly in our eastern states, extensions to COVID Support have been announced in NSW and VIC by the Federal and State Governments.   New South Wales Job Saver Programme that opened on Monday is the new and improved Job Keeper programme from 2020.  – Businesses with: Annual sales between $75,000 to $250m …

First Home Buyers – it’s time to get excited!

First Home Buyers are rejoicing at the recent announcement from the Australian Government. The Treasury has expanded the property price caps for homes purchased under the First Home Loan Deposit Scheme and Family Home Guarantee, which apply from 1st July 2021. A total of 30,000 places will be made available under the First Home Loan Deposit Scheme range of schemes in …

Budget 2021-22 – what does it mean for you?

The 2020-21 federal budget has been handed down. On top of tax cuts for more than 10 million people, it also outlines a range of steps to support home ownership and help small businesses recover from the coronavirus pandemic. Home Ownership Measures implemented last year, such as the First Home Loan Deposit Scheme and the HomeBuilder scheme, would appear to have contributed to …

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JobKeeper is gone… now what?

For many of the 35% of SME’s who relied on JobKeeper for more than 50% of their revenue, the future is feeling somewhat uncertain – to say the least! Thankfully, there is some relief now available with the release of the last phase of the SME Guarantee Scheme. This phase is being called the SME Recovery Loan Scheme and is …

home building construction site

Announcement: HomeBuilder Scheme Extended

Friday, December 11 2020 The Federal Government have announced that HomeBuilder – the scheme that offers cash grants for housing construction projects – has been extended until March 31, 2021. Currently this scheme provides $25,000 grants to eligible applicants renovating an existing home or building a new one. This programme was due to expire at the end of 2020 but …

home builder tradesperson jumping for joy outside house with plans in hand

Stamp duty discounts announced as Victorian Budget spends billions to reinvigorate economy

October 25th 2020 Victorian home buyers are the BIG WINNERS following the announcement of their State Budget for 2020-21. There is no denying that the Victorian state economy has taken a battering during the coronavirus pandemic. In response, the Victorian Government are offering stamp duty discounts plus an additional spend of almost $50 billion on other concessions, subsidies and projects. …

LIGHT AT THE END OF THE FINANCE TUNNEL

October 2nd 2020 There is no doubt that 2020 has dealt out its fair share of financial woes but there appears to be light at the end of the tunnel. Firstly, the announcement of relaxed Responsible Lending Laws. Secondly, the anticipation of further cuts to the already rock bottom Cash Rate in November. Will this be enough to kick the …