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A recent article published in the Harvard Business Review by Bain & Co suggests that the pandemic has widened the productivity gap between top performing companies and others.
The impact of COVID-19 has been felt very differently from region to region. Fortunes vary wildly between business operators subject to ongoing lockdowns and trading impediments to those benefiting from the “new normal”.
The government has made changes to our Insolvency Framework to help more small businesses restructure and survive the economic impact of COVID-19.
Here is a summary of the key takeaways from a tax perspective of the 2020 Federal Budget announcement and what this means for businesses.
From 28 September 2020, the second tranche of the JobKeeper scheme changes the eligibility tests for employers and employees, and the method and amount paid to eligible employees.
Following on from our JobKeeper 2.0 blog on 30 July 2020, on 7 August 2020, the Treasurer announced further changes to increase access to the scheme during the proposed extension period (i.e. 28 September 2020 to 28 March 2021), driven by the recent..
The second tranche of the JobKeeper scheme changes the eligibility test for employers and the method and amount paid to employees.
In these trying times, the NSW government is supporting small businesses in NSW with a couple of targeted grants, such as:
We always knew that a Government scheme swiftly distributing cash during a crisis was going to come with equally swift compliance and review measures, particularly when eligibility was self-assessed. Two major Australian Taxation Office (ATO)..
“…while it is all very well to talk of 'turning points', one can surely only recognise such moments in retrospect.” Kazuo Ishiguro, The Remains of the Day
