Jobmaker Hiring Credit

The JobMaker Hiring Credit has become law and employees hired after 7th of October 2020 may be eligible.

The benefits will be:

  • $200 per week for each eligible employee aged 16 to 29
  • $100 per week for each eligible employee aged 30 to 35.

For the employer to be eligible, new employees must:

  • Eligible employees must have worked an average of at least 20 hours per week over the quarter for the employer to qualify for the payment
  • be aged 16 to 35 years
  • be in receipt of income support payments (such as JobSeeker Payment, Youth Allowance (Other), or Parenting Payment) for at least one of the three months before they were hired.
  • Employers will register with ATO and make claims quarterly, with claims commencing in February 2021
  • hold an Australian Business number (ABN)
  • be up-to-date with their tax lodgement obligations
  • be registered for Pay As You Go (PAYG) withholding
  • be reporting through Single touch payroll (STP).
  • Further eligibility conditions will apply to employers based on the employer’s headcount and payroll on 30 September 2020.
  • These conditions ensure that employers claim credits for additional jobs created rather than for replacing existing employees.
Further Information, criteria and codintions – see ATO fact sheet and link to Legislation.
To see how we can help you maximise your claim, call us on 08 8346 6644.

Xero business edition – 50% off for 5 months

To help our clients kick-start their Xero journey, we’re offering 50% off for five months on new subscriptions to Xero Business Edition plans.

Depending on the plan you choose, you could save upto $162

Make the most of this exclusive offer please contact our office on 08 83466 6444 before midnight (AEDT), Monday 30 November 2020*.


JobKeeper & Cash Flow Boost

Did you know that the JobKeeper payments are subject to income tax while the Cash Flow Boost payments to employers are exempt from income tax?

More info about  JobKeeper

More info about Cash Flow Boost  

Down load Cashflow Boost Calculator excel calculator


Directors Liability

Temporary changes to director obligations

Temporary changes to director obligations
The Federal Government has announced that to lessen the threat of actions that could unnecessarily push otherwise profitable and viable businesses into insolvency and help ensure they can resume normal operations when the crisis has passed, the following temporary measures have been put in place:

  • Relief for directors from any personal liability for trading while insolvent
  • Increasing the threshold for creditors issuing a statutory demand on a company from $2,000 to $20,000 and extending the timeframe for a company to respond from 21 days to six months
  • Increasing the threshold for a creditor to initiate bankruptcy proceedings from $5,000 to $20,000 and extending the time period for debtors to respond to a bankruptcy notice from 21 days to six months and extending the period of protection a debtor receives after declaring an intention to enter voluntary bankruptcy from 21 days to six months
  • Providing temporary flexibility in the Corporations Act 2001 to provide targeted relief for companies from provisions of the Act to deal with unforeseen events that arise as a result of the Coronavirus health crisis.

For more information, read the Federal Government fact sheet.

Credit – Tax and Super Australia


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