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Grant alert: Recycling Victoria Infrastructure Fund – Hazardous Waste (Solvents)

17/03/2020

With grants of up to $6 million available, Sustainability Victoria is assisting local businesses to invest in the state-of-the-art infrastructure required to recycle hazardous liquid wastes and solvents. UPDATE 18 March 2020: In light of recent events, the the due date for EOIs has been extended until Friday 8 May 2020 by 3pm.  Businesses who are […]

Staying invested for long term returns

16/03/2020

Last week continued to see markets swing between unbridled optimism and moribund pessimism with wild intraday movements hanging on the words of leaders around the world. For investors this makes for a roller coaster ride of emotions that can make many lose sight of the big picture and the long term. Last week we discussed […]

Our approach to COVID-19

13/03/2020

We take the health and wellbeing of our people, clients and the broader community seriously. As at 13 March 2020. With the outbreak of COVID-19, we have implemented safeguards that meet Australian Government COVID-19 guidelines and our firm has taken further steps to minimise any risk of infection and impact. Our management team meets regularly […]

Superannuation Guarantee Amnesty now in force

13/03/2020

The Superannuation Guarantee Amnesty Bill has received Royal Assent. Employers have until 7 September 2020 to make voluntary disclosures of superannuation guarantee underreporting. Introduction On 6 March 2020 the Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019 received Royal Assent. This means that the Superannuation Guarantee (SG) amnesty that was announced in the 2018 budget […]

Directors soon to be personally liable for unpaid GST

12/03/2020

As of 1 April 2020 Australian company directors will become personally liable for any of their company’s unpaid GST. Under the recently enacted Combating Illegal Phoenixing legislation the director penalty rules have been extended to encompass the indirect taxes, Goods and Services Tax, Luxury Car Tax and Wine Equalisation Tax. From 1 April 2020, directors […]

Market volatility and investing for the long term

10/03/2020

The world is watching with concern of the spread of the new coronavirus. The uncertainty is being felt around the globe and it is unsettling on a human level as well as from the perspective of how markets respond. At ShineWing Australia, it is a fundamental principle of our investment philosophy that markets are designed […]

Assistance to businesses to keep people in jobs

03/03/2020

The Government will provide a fortnightly payment of $1,500 per eligible employee to businesses impacted by COVID-19 from 30 March 2020 for a maximum period of 6 months. Eligibility Employers Eligible employers are businesses (including companies, partnerships, trusts and sole traders), not-for-profits and charities: with a turnover of less than $1bn and turnover will be […]

Superannuation Guarantee Amnesty Bill finally passed

27/02/2020

The Superannuation Guarantee Amnesty Bill has been passed and is awaiting Royal Assent, from which point employers will have six months to make voluntary disclosures of superannuation guarantee underreporting. Overview On 24 February 2020 the Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019 was passed by the Senate and is awaiting Royal Assent. The long awaited […]

NSW property surcharges for discretionary trusts - deadline extension

13/02/2020

Limited time remains to amend discretionary trust deeds before unintended duties and taxes apply Updated 31 August 2020 Increased transfer duties on property acquisitions, and increased land tax on previously acquired property holdings, will soon be applied to trust deeds of family and other discretionary trusts unless steps are taken soon. Changes to state impost […]

Changes to the Victorian SRO’s application of duty for discretionary trusts

12/02/2020

The State Revenue Office (SRO) of Victoria is bringing its concessional approach to Foreign Purchaser Additional Duty (FPAD) for discretionary trusts to an end. Background FPAD applies to foreign purchasers of residential property in Victoria. The rate of FPAD is currently 8% which is in addition to normal Duty. Please refer to our table of […]