If your business is in financial difficulty and needs support, please contact our office and we can assist in finding a suitable solution.
Importantly, the Government’s loan guarantee has been reduced to 50% (down from 80%) for loans available from 1 January 2022 until 30 June 2022.
Note that certain FBT exemptions and reductions may apply in some circumstances. For example, if an employer provides or pays for an employee’s transport to get their COVID-19 vaccination, there is generally no FBT payable.
The foreign resident withholding rates must be applied to income over $120,000.
If a working holidaymaker employee has had excessive amounts of PAYG withheld from their salary, they can lodge a tax return at the end of the income year to receive a tax refund (where eligible).
Please Note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances. You are welcome to contact our office on 03 9587 7316 or email info@bayviewaccounting.com.au for further advice and assistance.