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ASIC extends lodgement deadlines

16/04/2020

ASIC has announced that it will extend the deadline for unlisted entities to lodge financial reports under the Corporations Act 2001 (the Act) by one month for balance dates from 31 December 2019 to 31 March 2020. The extended deadlines for lodgement is intended to assist entities where financial reporting is requiring additional time due […]

COVID-19 rent relief: Code of Conduct released

15/04/2020

On 7 April, the National Cabinet released a Mandatory Code of Conduct for commercial leases with small to medium enterprise tenants who are suffering financial stress or hardship due to the COVID-19 pandemic. The tenant must meet certain criteria for the Code to apply. Who does the Code of Conduct apply to? The Code of […]

Superannuation Amnesty & Payroll Underpayments: Two compelling events align

15/04/2020

Universities have until 7 September 2020 to make voluntary disclosures of Superannuation shortfalls to the ATO. Universities are being urged to undertake a payroll health check, in light of an emerging risk pertaining to: Underpayments to casual and sessional staff for overtime and leave loading; and The recent Superannuation Amnesty that gives Universities a 6 […]

JobKeeper update: What are the details?

14/04/2020

As further documents have been released by Government following our JobKeeper (JKP) webinar on 9 April 2020, our team brings you the latest clarifications. Updated 16 April 2020:  Late on 9 April, the Federal Government Treasurer released the following documents: Coronavirus Economic Response Package (Payments and Benefits) Rules 2020 (The Rules) Explanatory Statement to the […]

COVID-19 in Australia: RBA measures, big business and public sentiment

14/04/2020

David Chu, Head of International Business, discusses the RBA measures, big business and public sentiment. David Chu, Head of International Business, recently joined Thomas Sung (host) on the SBS Radio Cantonese Program to discuss the Reserve Bank of Australia’s new measures, as well as big business and public sentiment in response to COVID-19 in Australia. Listen […]

Webinar: JobKeeper Payment

09/04/2020

Our tax experts breakdown the Government’s JobKeeper Payment announcement in the webinar below. With legislation announcements on 8 April 2020 on the COVID-19 JobKeeper package, we held an update on the details and how they apply to business the following morning. We received many questions over the last week, and during this webinar we endeavoured […]

ATO shortcut to claim deductions for working from home

07/04/2020

The ATO has announced a new shortcut method which will allow taxpayers to claim a rate of 80 cents per hour for all their running expenses. Shortcut method A deduction of 80 cents per hour for each hour worked can be claimed if the taxpayer is working from home due to COVID-19. The claim can […]

CTS Cash Boost Budgeter

06/04/2020

Use our complimentary CTS Cash Boost Budgeter to calculate how much credit you will receive through your Activity Statement. Updated 1 May 2020 In these difficult times we are pleased to see the Government providing support packages for business. One of the initial support packages is the Cash Boost which will give rise to a […]

Optimal utilisation of Victoria’s critical medical equipment

06/04/2020

As hospitals across metropolitan Melbourne continue to grapple with the outbreak of COVID-19, fears are also growing over how the pandemic will be managed in Victoria’s regional towns. Assessing your circumstances Despite the integration of Victoria’s public and private health sectors, we know that many regional hospitals will find it challenging to source critical medical […]

Shanghai: Back to business

03/04/2020

As China appears to recover from the the effects of the COVID-19 pandemic, our contacts on the ground provide insight into what this looks like for business. The epicentre of what is now a global pandemic has shifted to Europe, it could potentially shift again to the US, and the global economy continues to reel […]