There are technical questions that arise, for the NSW Covid lockdown relief (and for other States & Territories, with their equivalent benefits) – things like ‘aggregate annual turnover’; ‘decline in turnover’; ‘maintain employee headcount on 13.7.21’; ‘NSW weekly payroll’ and ‘total annual Australian wages’. There is guidance on this and it’s improving – but it’s…
There has been a quick succession of improvements in the level of, and eligibility for, COVID support packages for lockdown affected individuals and businesses – funded Federally, for individuals and jointly by the affected State/Territory and the Federal Government. The serious and extended lockdown in NSW, then a shorter one in Victoria (the two biggest…
The NSW Government, on Wed 28.7.2021, announced changes to a key support measure for businesses impacted by the ongoing lockdown. The changes, for business, affect what the NSW Government terms its JobSaver package. This was a companion announcement, issued on the same day, as the one issued by the Federal Government, of their increased support for individuals (see related…
The PM and Treasurer released a joint media release on Wed 28.7.2021, stating “increased financial support for hundreds of thousands of workers in New South Wales will be available from next week as part of the Commonwealth Government’s expanded national COVID-19 Disaster Payment”. See below for further details. [Tax Month – July 2021] …
This article reprises, the 2021 Federal Budget proposal, to implement the Board of Taxation’s recommendations, to restructure the tax ‘residency’ tests for ‘individuals’, as a precursor for the Law Council’s July 2021 submissions, to Government, about the modifications, to the Board’s recommendations, that are needed (see relevant TT article). See below for further detail [Tax…
The Law Council of Australia (LCA) made a submission, dated 5 July 2020, to the Assistant Treasurer, about the announcements, in the 2021 Federal Budget, that the Government will move to change the ‘residency’ test, for ‘individuals’, based on the 2019 recommendations from the Board of Tax (see related TT article). The submission suggests various…
On Thursday 22.7.2021, the NSW Treasurer announced further Covid related Payroll Tax Relief including reductions, deferrals and interest free payment plans. In the same Media Release, the Treasurer listed the other main relief measures for this July 2021 lockdown. See below for further details. [Tax Month – July 2021] On Thursday 22.7.2021, the…
On 20.7.2021, a former property developer, in Queensland, lost his appeal, against convictions for 6 counts of fraud, which carried a 5 year jail sentence (2 years non-parole). The facts proven were that he solicited about $800k of loans from SMSFs, on behalf of a company, which he knew had no real prospect of being…
On 8 July 2021, the AAT confirmed the Tax Practitioners Board decision that a tax agent’s registration be cancelled and he be unable to reapply for 18 months. This was because he had multiple failures in relation to his own tax affairs (which is a breach of the Code of Practice), made a false statement…
The South Australian Court of Appeal agreed, with the Court at first instance, that certain South Australian rural land, was exempt from land tax, under the relevant ‘primary production’ exemptions, when the land produced its first crop, the next year. The taxpayers bought the land 22 years earlier, for primary production, but it had not…