PERSONAL TAXATION Personal tax rates unchanged for 2021–2022 In the Budget, the Government did not announce any personal tax rates changes, having already brought forward the Stage 2 tax rates to 1 July 2020 in the October 2020 Budget. The Stage 3 tax changes will commence from 1 July 2024, Read more…
Federal Budget 2020-2021 On Tuesday, 6 October 2020, Treasurer Josh Frydenberg handed down the 2020-21 Federal Budget, his 2nd Budget. He said the Federal Budget was “all about jobs” (including creating new jobs and getting the unemployed back into work again) and getting the economy moving again. The Treasurer said Read more…
JobKeeper Payment Extension The JobKeeper Payment, which was originally due to run until 27 September 2020, will now continue to be available to eligible businesses (including the self-employed) and not-for-profits until 28 March 2021. The payment rate of $1,500 per fortnight for eligible employees and business participants will be reduced Read more…
JobKeeper Payment initiative: Aimed at supporting employers to retain their workforce while managing through the commercial disruption of COVID-19. The latest announcement about jobkeeper payment initiative revealed that, commencing 30 March 2020, the government will underwrite/reimburse businesses $1500 each fortnight per employee the business retains through the period. Businesses will Read more…
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