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The Coronavirus Economic Response Package (JobKeeper Payments) Amendments Bill 2020, dubbed "JobKeeper 2.0", is set to drastically cut the number of businesses eligible for the JobKeeper wage subsidy, when it takes effect from 28 September 2020. After last minute changes to the JobKeeper 2.0 legislation, passed last week, newly-ineligible employers will maintain access to some workplace flexibility measures.
Read MoreThe Australian Securities and Investments Commission (ASIC) has published COVID-19 and financial hardship: ASIC's expectations of retail lenders when loan repayment deferral ends, outlining its expectations of lenders when the 6-month mortgage deferrals introduced at the start of the COVID-19 pandemic expire.
Read MoreOn 12 June 2020 the Federal Government passed the Treasury Laws Amendment (Registries Modernisation and Other Measures) Bill 2019 (Bill). This Bill establishes a new lifetime registration regime for directors, under which every director is assigned a unique identifier known as a Director Identification Number (DIN) that will remain with that individual for all directorships.
Read MoreOn 21 July 2020, the Commonwealth Government announced that the JobKeeper measure will be extended by a further period of 6 months. Dubbed "JobKeeper 2.0", the 2-tiered, watered-down JobKeeper extension will apply from 28 September 2020 to 28 March 2021.
Read MoreIn NSW when you buy land, you pay duty. When you buy shares in a company or units in a trust, you can also pay duty at land rates where the company or trust is considered a ‘landholder’. The NSW Government has now made it more likely that the acquisition of shares or units will be subject to duty at land rates, and also made it easier for them to collect that duty.
Read MoreThe 1st of July 2020 brought with it not just the start of a new financial year, but also a raft of changes for employers.
Read MoreThe Commonwealth government has recently introduced and announced some key changes to the COVID-19 stimulus measures.
Read MoreWhen preparing end of year trust distributions it is important to consider the impact of any foreign person exclusions in the trust deed. Failure to consider this and to get it right can result in the trust distribution being ineffective and the trust income being taxed to the trustee at 47%. But, the fix to the problem may be as simple as a deed amendment.
Read MoreEmployers finally have more clarity regarding the circumstances in which they can lawfully "stand down" employees under the pre-existing provisions of the Fair Work Act 2009 (Cth) (the Act), after a significant ruling by the Fair Work Commission (the Commission).
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