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Wage theft criminalised in Victoria

30/09/2020

Consider the related financial, reputational and compliance risks for your business. On 1 July 2021 wage theft became a crime in Victoria. The Wage Theft Bill 2020 creates new employee entitlement offences, comprising wage theft offences and new record keeping offences. It is designed to capture employers who falsify or fail to keep records for […]

International Mining and Resources Conference 2020

26/09/2020

For the fourth year, ShineWing Australia is proud to be part of the conversation at the IMARC in 2020, taking the lead on sustainable and equitable futures by sponsoring the Renewables and Future Energy sessions. Following our recent Energy:Future event, which saw senior industry leaders and technology experts come together to discuss Australia’s future energy […]

Independent probity advisory services

24/09/2020

The Government has committed $50 million over two years from 2020-21 to 2021-22 for the Revitalising TAFE Campuses Across Australia program, in partnership with state and territory governments. This initiative aims to improve vocational education infrastructure ensuring TAFEs are equipped to deliver training to the standards expected by industry and students. Independent probity services We […]

TEQSA Financial Viability Assessments

24/09/2020

The Tertiary Education Quality and Standards Agency (TEQSA) has mandated the provision of more financial data as part of its Financial Viability Assessments for education providers. What is required? As part of the Financial Viability Assessments, TEQSA requires education providers to submit the financial management accounts to 30 June 2020, which includes: Balance Sheet as […]

Taxation Determination 2020/07

23/09/2020

The Commissioner has finalised the ATO’s view in Taxation Determination 2020/7 confirming that capital gains are not included when calculating the Foreign Income Tax Offset (FITO) limit. Application of the law The FITO limit is determined by section 770-70 of the ITAA 1997, requiring a comparison between Australian tax payable and Australian tax that would be […]

Grant alert: Wine Tourism and Cellar Door Grants

21/09/2020

Annual grants of up to $100,000 are available to eligible wine and cider producers who foster wine tourism. The Wine Tourism and Cellar Door Grant program has been introduced to support producers who add value by encouraging visitors to wine regions and therefore encourage wine tourism. For each financial year, total funding of $10 million […]

Webinars: JobKeeper updates

21/09/2020

Access all of our recorded JobKeeper Payment webinars below. Our experts are providing regular updates, helping businesses to make sense of the initiative as it unfolds. JobKeeper update: 21 September 2020 ATO eligibility reviews have now begun on businesses claiming Jobkeeper 1.0 payments. For those exiting JobKeeper at the end of the month, what do […]

Victorian duty – new draft ruling on ‘land development’

15/09/2020

The Victorian State Revenue Office (SRO) has recently released a draft ruling for consultation on the meaning of the term ‘land development’ (draft revenue ruling DA-064). The new draft ruling and the definition of ‘land development’ in a duty context is of particular relevance to: foreign purchasers purchasers involved in pre-settlement nomination arrangements Foreign purchasers […]

Additional tax relief support announced for Victorian businesses

14/09/2020

As Victoria’s lockdown continues, the State Government has recognised that further support is needed for Victorian businesses. Below is a summary of the various tax relief and grants announced. Vacant Residential Land Tax Relief (VRLT) VRLT is annual tax of 1% of the council capital improved value and it applies to residential land in specified […]

Analysis of the Australian property market from a financial perspective

09/09/2020

David Chu, Head of International Business, discusses the pressures on and changes to the property market as a result of the pandemic. David Chu, Head of International Business, recently joined Thomas Sung on the SBS Radio Cantonese Program to discuss the Australian property market from a financial perspective. Listen to the podcast episode in Cantonese or […]