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April 2020 Newsletter - Jobkeeper Payment Employer Edition

WELCOME

Welcome to our special edition of the StewartBrown newsletter where we keep you informed and updated with the latest tax and Government assistance package developments as they arise.

This newsletter outlines the JobKeeper package from the employer’s perspective. A separate newsletter will follow detailing how these payments are viewed from an employee’s perspective.

August 2019 Newsletter

Welcome to our August 2019 edition of the StewartBrown newsletter. We hope to keep you informed of the important tax developments and issues affecting businesses in Australia today.

Employer Financial Subsidies Available - Check Your Eligibility

Employer Subsidies

A wage subsidy is a financial incentive of up to $10,000 (GST inclusive) to help eligible businesses hire new staff.

Employers can access a wage subsidy if they:

  • have an Australian Business Number (ABN)
  • have not previously received a wage subsidy for the same person
  • are not an Australian, state or territory government agency
  • offer a job that is expected to be ongoing and for an average of 20 hours per week over the six months of the wage subsidy agreement
  • offer a job that complies with employment standards for the position - for example, is suitable work and pays as a minimum the national award wage.

Employers can access a wage subsidy if they:

  • work that displaces an existing employee
  • commission-based, subcontracting or self-employment positions and
  • work for an immediate family member.

Employment service providers will make flexible payments to eligible employers over six months. Employees who are Indigenous Australians have immediate access to wage subsidies of up to $10,000 if all eligibility requirements are met. The following table summarises what subsidies are available to employers:

Wage subsidy type Eligible age range Subsidy available
Restart 50 years of age and over Up to $10,000
Youth Bonus 15-24 years of age Up to $10,000
Youth 25-29 years of age Up to $6,500
Parents Any age Up to $6,500
Long Term Unemployed Any age Up to $6,500

Wage subsidies are available to eligible participants in jobactive, Transition to Work (TtW) and ParentsNext Intensive Streams. The Restart Wage Subsidy is also available to participants in Disability Employment Services (DES) and the Community Development Programme (CDP).

All wage subsidy placements must average at least 20 hours per week over the 26 week wage subsidy period. Employment must also comply with National Employment Standards.

Jobs can be full time, part time or casual. Apprenticeships and traineeships are also eligible to attract a wage subsidy.

Each wage subsidy is targeted to assist those who need it most. Please talk to an employment services provider to check your eligibility. A list of employment services providers can be found at: www.jobsearch.gov.au/service-providers or by calling the Jobseeker Hotline on 13 62 68 or the National Customer Service Line on 1800 805 260.

February 2017 Land Tax Newsletter

Welcome to the special Land Tax edition of our client newsletter for 2017 where we hope to keep you informed of the important land tax compliance issues affecting owners of land in Australia.

Click Here to view the February 2017 Land Tax Newsletter

February 2018 Newsletter - Land Tax

Welcome to the special Land Tax edition of our client newsletter for 2018 where we hope to keep you informed of the important land tax compliance issues affecting owners of land in Australia.

Fringe Benefits, Tax and Christmas Parties - December Newsletter 2017

It is that time of year again and we thought a reminder on the tax consequences of Christmas celebrations and gifts would be timely. Income tax, FBT and GST are all relevant considerations where these costs are involved.

JobKeeper Version 2.0 Special Edition Newsletter

Welcome to this special edition of the StewartBrown newsletter where we update you on the proposed changes to the JobKeeper program announced earlier this week.

On Tuesday 21st July 2020, the Australian Government has announced proposed changes to payments under the JobKeeper and JobSeeker schemes and we summarise these for you.

Click here to view or download a copy of this newsletter.

JobKeeper Version 3.0 Special Edition Newsletter

Welcome to this special edition of the StewartBrown newsletter where we update you on proposed further changes to the JobKeeper Payment scheme announced recently.

On Tuesday 21st July 2020, the Australian Government has announced proposed changes to payments under the JobKeeper and JobSeeker schemes and we summarise these for you.

Click here to view or download a copy of this newsletter.

July 2019 Newsletter

WELCOME

Welcome to our July 2019 edition of the StewartBrown newsletter. We hope to keep you informed of the important tax developments and issues affecting businesses in Australia today.

March 2020 Newsletter

Welcome to our March 2020 edition of the StewartBrown newsletter. We hope to keep you informed of the important tax developments and issues affecting taxpayers and businesses in Australia today.

May 2018 Newsletter - Tax policies of major political parties

You may have read a lot in the media recently about the different tax policies and proposals coming out of the major Australian political parties. To help you understand these policies and potentially the tax changes that are coming, we thought you’d appreciate a summary and brief explanation of them to be better informed for the future.

myGovID, Non Residents & Main Residence Exemption - Feb-20

Welcome to our February 2020 edition of the StewartBrown newsletter. We hope to keep you informed of the important tax developments and issues affecting taxpayers and businesses in Australia today.

November 2017 Newsletter

We hope to keep you informed of the important tax developments and issues affecting businesses in Australia today and throughout the year ahead.

November 2019 Newsletter

Welcome to our November 2019 edition of the StewartBrown newsletter. We hope to keep you informed of the important tax developments and issues affecting businesses in Australia today.

Security Alert: BSB & Account Number Changes

Scam Alert

If you are ever asked to change or update a BSB and Account number as a result of an email received from a supplier or known associate, it is critical that you verbally validate this request as well.

Reports to the Australian Competition and Consumer Commission (ACCC) and Australian Cybercrime Online Reporting Network (ACORN) about scams of this sort have exposed over $22.1 million in funds being transferred from businesses to scammer accounts during 2017.

Our top tips to avoid incurring financial loss to scammers are:

  1. Always verbally check the BSB and Account number changes using a trusted phone number. Confirming a change via email is not a secure method of validation.
  2. Scammers often pose as executive staff members to direct employees to make urgent payments. Once again, always verbally validate these requests using a trusted phone number.
  3. If you are unable to contact the requestor, contact the recipient bank to confirm if the BSB and Account number match the name on the account.

For more information on how to protect your business speak to your StewartBrown Partner of Manager and/or contact your bank.

This threat is real and should not be taken lightly! A client of our firm recently experienced this scam and unfortunately lost out financially because of it. Be vigilant and train your staff to be on the alert.

September 2019 Newsletter

Welcome to our September 2019 edition of the StewartBrown newsletter. We hope to keep you informed of the important tax developments and issues affecting businesses in Australia today.

Special Newsletter COVID-19 Assistance Update - April 2020

The Federal Government recently announced its third raft of measures aimed at stimulating the economy and providing support to businesses, individuals and families. The States and Territories have also announced strategies for each of their various jurisdictions.

StewartBrown 2020 Land Tax Newsletter

WELCOME
Welcome to the special Land Tax edition of our client newsletter for 2020 where we hope to keep you informed of the important land tax compliance issues affecting owners of land in Australia. Remember that Land Tax is a State tax and different rules apply in each State. In this newsletter we have summarised the position in NSW. If in any doubt about your particular land tax circumstances, please contact your StewartBrown Partner or Manager.

StewartBrown Aged Care Newsletter - October 2020

Aged care has recently been in the spotlight as a result of the Royal Commission into Aged Care Quality and Safety. The COVID-19 pandemic has increased the intensity of that spotlight.

The Royal Commission has recently highlighted that the aged care system, particularly in residential aged care, is significantly underfunded and has been for some time.

To find out more, click here to view or download a copy of our newsletter.

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StewartBrown
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Level 2, Tower 1,
495 Victoria Avenue

Chatswood, NSW, 2067
Tel: (02) 9412 3033
Fax: (02) 9411 3242
info@stewartbrown.com.au


StewartBrown Advisory Pty Ltd
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Level 2, Tower 1,
495 Victoria Avenue

Chatswood, NSW, 2067
Tel: (02) 9412 3033
Fax: (02) 9413 4202
info@stewartbrown.com.au

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