02 4969 4699
02 4969 4699
The Garis Group Logo
NSW Government Dine & Discover Vouchers

Christmas Comes Early for NSW Hospitality, Tourism & Art Industries

Emma Zajac
, , , , , , , , , , , ,
What a year! I think I can speak on behalf of, well, everyone, when I say that Christmas is upon us and I couldn’t be happier to close the chapter that is the year 2020. It’s the time of year where most businesses are winding down and planning for a little R & R, however…
Coronavirus grants now tax-free

Coronavirus Grants Now Tax-Free

Emma Zajac
, , , , , , , , , ,
Legislation aimed at ensuring coronavirus small business grants are not subject to income tax has now passed both houses of Parliament. Treasury Laws Amendment (2020 Measures No. 5) Bill 2020 passed Parliament late on Thursday. The bill amends income tax law to make certain grant payments received by eligible businesses non-assessable non-exempt income so that these…
Small Retail Business Owner in VIC

Victoria Launches Small Business Digital Rebate

Emma Zajac
, , , , , , , , , , , , ,
Victorian businesses will now have access to a $1,200 rebate to put towards adopting new digital products, including cloud accounting tools, to assist them in their COVID-19 recovery. Victoria’s Small Business Digital Adaptation Program is now open for registrations until 28 February 2021. The program, part of the state government’s $3 billion Business Resilience Package,…
Small-business coronavirus grants set to be income tax-free under new bill

Small Business Coronavirus Grants Set to be Income Tax-Free under New Bill

Emma Zajac
, , , , , , , , , ,
A new bill that ensures state and territory grants issued in response to the coronavirus pandemic are not subject to income tax has now been introduced. Treasury Laws Amendment (2020 Measures No. 5) Bill 2020 has now been introduced in Parliament, following the government’s announcement that small and medium business grants announced on or after…
Man working in cafe and wondering about Tax Deductions For Investing In Your Business

Tax Deductions for Investing in Your Business

Emma Zajac
, , , , , , , , , , , , , ,
Stimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses with turnover under $5bn* to immediately deduct the cost of new depreciable assets and the cost of improvements to existing assets in the first year of use. This means that an asset’s cost will be…
JobMaker: What we Know So Far

JobMaker Hiring Credits: What We Know So Far

Emma Zajac
, , , , , , , , , , , ,
We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and until this occurs, the JobMaker rules are not certain and may change. More details should be available soon and we’ll let you know as soon…
Small Business Owner unhappy as he misses out on loss carry back

Small Business Shut Out From Loss Carry Back

Emma Zajac
, , , , , , , , , , , , , , ,
Thousands of small businesses are set to miss out on accessing the temporary loss carry back provisions due to its limitation to corporate entities. The National Tax and Accountants’ Association has now written to Treasurer Josh Frydenberg to call for the expansion of the loss carry back provisions to non-corporate entities such as sole traders, partnerships and trusts.…
Small Business Support Centre Launches in Newcastle NSW

Small Business Support Centre Launches in Newcastle

Emma Zajac
, , , , , , , , ,
The Business Centre will be able to help even more businesses struggling under COVID-19, via the Small Business Recovery Centre, which was launched earlier this month. Thanks to the support of the City of Newcastle, The Small Business Support Centre for six months will offer much needed support to businesses wishing to bounce back. CEO…
ATO assistant commissioner Sylvia Gallagher

ATO kicks off ‘soft’ debt collection restart

Emma Zajac
, , , , , , , , , , , ,
The ATO has launched a soft restart of its debt and lodgement activities as it looks to re-engage with businesses. Apart from Victoria, where businesses are working towards a staged reopening plan, the ATO has begun reaching out to businesses in other parts of the country as part of its debt intervention activity restart after such…
Menu
Call Now 02 4969 4699