2021 Economic Recovery Initiatives from the Treasury

As we herald in 2021 the Morrison Government’s Economic Recovery Plan will also come into play and aims to help re-build the economy post the COVID-19 crisis, by securing Australian jobs and keeping businesses in business.

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Victorian State Government Provides 3rd Round of Support for Businesses

Victorian State Government announces an additional $3 billion in cash grants, tax relief and cash flow support to be delivered to Victorian businesses most affected by the COVID-19 restrictions.

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JobKeeper 2.0 Legislated

JobKeeper extension (JobKeeper 2.0) with ‘Amending Rules’, officially legislated.

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JobKeeper 2.0

Treasurer Josh Frydenberg has today announced the eligibility for JobKeeper 2.0 will now be based on individual quarters.

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COVID-19: JobKeeper Payment and Income Support Extended

The federal government has announced the JobKeeper Payment will be extended to 28 March 2021 and also extended the temporary Coronavirus Supplement to 31 December 2020.

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COVID-19: SME Loan Scheme Continued

The Coronavirus SME Guarantee Loan Scheme has been extended to 30 June 2021, to support more small and medium-sized businesses.

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Return to Work Post COVID-19

As governments around the world make plans to relieve restrictions, businesses are also making plans on how to safely return to a more normal work life. And whilst it can be daunting, the best way to succeed is by working with your team, as a team, to find the right balance as we ease into the new world post-COVID.

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Alternative Tests for the Coronavirus Economic Response Package

Alternative tests legislation has passed to support businesses with the potential to be adversely affected by COVID-19 but don’t meet the basic tests.

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JobKeeper Payment Scheme – Enrollment and Payment Extensions Explained

The ATO has now announced an extension of time for employers who wish to enroll for the first two JobKeeper fortnights to 31 May and when they need to to pay employees for JobKeeper fortnights 1 and 2.

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Big 4 Banks Hotline for JobKeeper Finance

Employers can seek assistance from the banks for financial support to make the payments to employees prior to receiving their claim to the JobKeeper wages subsidy.

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Thoughts From Our Principals

Mark Semmens

Mark is a Chartered Accountant with a wealth of experience in accounting and taxation. Mark is a Member of Chartered Accountants Australia and New Zealand, the Tax Practitioners Board and the National Tax and Accountants Association.

Mark's blogs
Daniela Semmens

Daniela Semmens is a Co-Director of Semmens & Co. and joined the company as General Manager in 2017. Daniela is an Affiliate Member of Chartered Accountants Australia and New Zealand and also a Member of the Australian Institute of Project Management.

Daniela's blogs

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