Victorian Businesses given cash to seek advice.
Small Business Specialist Advice Pathways Program The Victorian State Government has launched a $2,000 grant that small businesses can use to pay for professional advice from accountants, bookkeepers or lawyers. The grant, called the Specialist Advice Pathways Program is designed help small businesses meet the costs of seeking advice to assist them make the best […]
Commercial Debt Forgiveness Rules: Natural Love & Exclusion
A debt that has been incurred by a business that cannot be ‘collected or recovered’ may be reduced under the Australian Taxation Office’s commercial debt forgiveness rules. These rules often play a large role in insolvency proceedings and need to be handled carefully. Commercial debt forgiveness occurs when a creditor forgives a commercial debt owed […]
Wage Theft: Financial Crime or Payroll Mistake?
Public discourse around wage theft generally devolves into accusations of big businesses ripping their employees off intentionally, but many other instances of the crime occurring are inadvertent, due to the complexity of Australia’s payrolling system. Wage theft appears across a broad range of industries and disproportionately impacts young people, overseas students, migrant workers and women, […]
Fair Work Commission’s Minimum Wage Decision
From 1 July 2022, the minimum hourly wage for Australian workers has been raised from $20.33 to $21.38 by the Fair Work Commission in a landmark decision. The decision sets the pay of at least 2.7 million Australians on the national minimum or awards. In fact, the proportion of all Australian employees dependent on the […]
The ATO’s Attack on Trusts and Trust Distributions
Click here to download file or continue to read Late last month, the Australian Taxation Office (ATO) released a package of new guidance material that directly targets how trusts distribute income. Many family groups will pay higher taxes (now and potentially retrospectively) as a result of the ATO’s more aggressive approach. Family trust beneficiaries at […]
JobKeeper 2.0 – Effective 7 August 2020
Between April to May 2020, JobKeeper was taken up by 920,000 organisations and around 3.5 million individuals – 30% of pre-Coronavirus private sector employment. There have been a number of Government announcements on JobKeeper that impact on business and employee eligibility. Employees that previously failed the JobKeeper eligibility test as they were not employed on […]
RCR Financial Group Individual Tax Return Checklist
To enable us to better assist you to complete your 2020-2021 Individual Tax Return. Please download the following checklist, complete all relevant information and forward to our office and we will be in touch shortly.
JobKeeper Payment
The National Tax & Accountants’ Association have provided detailed information regarding the JobKeeper Payment. Click here to read