02/04/2020
Announcement of new Commonwealth Government funding arrangements for child care centers as a consequence of COVID-19 health crisis The Prime Minister and Minister for Education have announced new funding arrangements designed to ensure the continued viability of the sector in the face of student withdrawals resulting from the COVID-19 health crisis Who is impacted? After […]
30/03/2020
For many of you, and certainly for us, the last few weeks have been a whirlwind as the scale and complexity of the position, not just in Australia, but the entire world finds itself in seems to grow more precarious by the hour. It was only one short month ago that global stock markets hit […]
30/03/2020
The Property Council of Australia has shared insight into the National Cabinet’s agreement on principles for commercial tenancy relief for businesses affected by the coronavirus outbreak. At ShineWing Australia we are committed to providing the most current updates and resources to support our clients during this challenging time. The Property Council of Australia is the leading […]
26/03/2020
ASIC has recently released guidelines for upcoming AGMs in light of the COVID-19 crisis. Public companies with a 31 December year end would typically need to hold an AGM by 31 May 2020. However, ASIC has said the following: They will take no action if AGM dates are postponed by up to 2 months They […]
26/03/2020
Prepare for the rebound – optimise the opportunity post-COVID19. Naturally, Australian business is currently bunkering down to navigate the myriad challenges presented by the coronavirus outbreak, with a focus on the health and wellbeing of staff, clients and their operating communities. The crisis will pass and it is important for business to be well positioned […]
26/03/2020
Export Finance Australia remains open for business to help businesses access the finance they need to keep operating. At ShineWing Australia we are committed to providing the most current updates and resources to support our clients during this challenging time. Export Finance Australia is the government’s export credit agency, providing financial expertise and solutions to drive […]
25/03/2020
The Federal Government’s second set of measures, combined with previous announcements totals $189 billion or 9.7% of Australia’s GDP. What you need to know One measure which will have an immediate and practical implication to your retirement portfolio, is a reduction in Minimum Drawdown Rates for income stream accounts. Temporary Reduction in Minimum Drawdown Rates […]
25/03/2020
As of 1 April 2020 Australian company directors will become personally liable for any of their company’s unpaid Luxury Car Tax, as well as other indirect taxes. Under the recently enacted Combating Illegal Phoenixing legislation the director penalty rules have been extended to encompass the indirect taxes, Luxury Car Tax (LCT), Goods and Services Tax […]
24/03/2020
The Department of Industry, Science, Energy and Resources just provided an update in relation to COVID-19 and the R&D Tax Incentive. As the Federal Government’s leading incentive program for innovation, the R&D Tax Incentive offers offsets of up to 43.5% of eligible expenditure to businesses who have engaged in eligible R&D activities. For certain eligible […]
24/03/2020
The Federal Government has announced the Coronavirus SME Guarantee Scheme as part of its “Supporting the Flow of Credit” economic response to COVID-19. How does it work? The Coronavirus SME Guarantee Scheme is designed to provide support to otherwise viable SME businesses that have had their cashflows impacted by COVID-19. Under the Scheme, the Government […]