State and Federal COVID-19 support --- January - 2022
The following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage the impact of yet more COVID-19 restrictions.
Beware section 99B
Imagine this scenario: George, who lives in Melbourne and is aged 23, gets a call from his grandmother in Athens. Grandma says she is going to give him $100,000 for Christmas. George is ecstatic. With profuse thankfulness, George gives Grandma the bank details.
ATO provides further clarity on DIN process
The ATO and the SMSF Association have clarified some of the areas of confusion with respect to the director identification number process and outlined some of the ATO’s longer-term plans.
Unpaid client invoices placing greater pressure on SMEs
The number of SMEs struggling due to late payments is still being felt, according to new research.
10 top global corporations since 1998
A very interesting, graphical, summary of the monsters of our global economy. Fascinating stuff!!
Increase in the number of SMSF members
On 1 July 2021, the maximum number of allowable members within an SMSF increased from four people to six people.
Single Touch Payroll (STP) – Phase 2
Single Touch Payroll will be expanded from 1st January 2022, with additional requirements.