The ill-fated ‘second job tax’ is definitely not what you think. Regardless of whether you work & earn more in your current position, or change things up & work in another job, you will pay the SAME amount of tax.
Victorian businesses have access to a $1,200 rebate to put towards adopting new digital products - including website, e-commerce and cloud accounting tools - to assist them in their COVID-19 recovery.
The Australian Taxation Office has addressed what businesses need to know and understand to stay on top of the immediate changes to the JobKeeper scheme that will apply as of 4 January 2021.
With around 70 per cent of all Australian businesses being family-owned and operated, having a succession plan to capitalise on this value when choosing to exit the business is crucial.
The government has taken steps to realise another budget promise by introducing legislation into Parliament to ensure COVID-related small-business grants are treated as non-assessable, non-exempt income for tax purposes.
Victorian businesses will now have access to a $1,200 rebate to put towards adopting new digital products, including cloud accounting tools, to assist them in their COVID-19 recovery.
Looking to expand your business without the added costs? Offshoring and outsourcing might be the best option for you, but be sure to weigh up the pros and cons before deciding on which one best suits your business.
