Shannon Smit, Founder & Managing director of Smart Business Solutions. Shannon is extremely well positioned to provide an easy to understand summary of the packages through her position on the Australian Governments Board of Tax Advisory Panel. Over the past week, Shannon has been actively involved with the Board of Tax and Treasury to provide feedback on the economic stimulus options and the small business taxpayers that fall through the cracks in being eligible.
WEBINAR SUMMARY: Shannon will cover the following topics:
✅ What can you access from the stimulus packages (Federal & State Govt) and how?
✅ What are the banks doing?
✅ What should you be doing now to save your business and your employees’ jobs
✅ Business continuity planning measures and action items for consideration
IMPORTANT Please note - this was current as at March 27th. Since this webinar we have received more clarity on the business owners who receive distributions and dividends from their trusts and companies respectively. Unfortunately characterisation of these payments is NOT possible. Treasury has updated their advice on the website. PLEASE CONSULT YOUR ACCOUNTANT before making any decisions on this. Thanks!
In the 2019–20 Budget, the government announced that Single Touch Payroll (STP) would be expanded to include additional information.
Throughout March, the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they represent has met its PAYG withholding, superannuation guarantee charge, or GST obligations.
It’s a great headline isn’t it? Spend $100 and get a $120 tax deduction. Days after the Federal Budget announcement that businesses will be able to claim a 120% deduction for expenditure on training and technology costs, we started receiving marketing emails encouraging us to spend now to access the deduction.