Tag: business

business

NSW Offers $66M Stimulus to Support Alfresco Dining

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In a bid to boost the state’s hospitality industry, the New South Wales government has launched a $66 million stimulus package dubbed the “Alfresco Restart”. This stimulus is aimed at helping businesses, including restaurants, cafes, and bars, revamp and expand into outdoor dining as lockdown measures are expected to ease…

Tax Dodgers Exposed

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A worldwide leak of private documents has occurred, exposing many of the world’s richest. Dubbed the ‘Pandora Papers’, almost twelve million financial documents were made public that exposes previously secretive financial information. This leak reveals a lot about those who are using offshore tax havens to dodge tax. The rich…

Small Businesses Under Threat From Cyber Crime

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Cyber crime targets many important businesses including essential services, health, food and energy sectors. Cyber crime is serious as the results of cyber related incidents have led to loss of data, infrastructure and even harm to life. Cyber crime is affecting many businesses in 2021. With the shift to work-from-home,…

Businesses Granted Extension for Virtual AGMs

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To further aid businesses contending with the impact of the Covid-19 pandemic, the government has decided to extend relief that would allow companies to undertake annual general meetings (AGMs) virtually. Treasurer Josh Frydenberg confirmed that AGMs could continue being held this way until 31 March 2022. It will also allow…

Proposed Law To Make New COVID-19 Payouts Tax-Free

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The Treasury Laws Amendment (COVID-19 Economic Response No. 2) Bill 2021 was recently presented in parliament. It seeked to ratify declarations made by PM Scott Morrison that Australians will not pay taxes on the latest round of lockdown payments come the next tax season in 2022. This is a change…

Review of GST On Low-Value Imported Goods Begins

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The Australian government has requested the Board of Taxation to review the performance of the Low-Value Imported Goods (LVIG) measure. The LVIG enables the application of goods and services tax (GST) on low-value import purchases valued at $1,000 or less. The Board is expected to examine how well the measure…