News

$36bn withdrawn from super during COVID-19

  The latest report from the Australian Prudential Regulation Authority (APRA) has revealed that workers withdrew more than $36 billion from retirement funds through the early release of super.  

ATO opens claims for first JobMaker quarter

  The first claim period for the JobMaker Hiring Credit scheme is now underway, with the ATO reminding employers that they could receive up to $10,400 for each eligible employee hired.  

JobMaker Resources – ATO

  All our key resources for the JobMaker Hiring Credit scheme.  Included are a User Guide, four Factsheets, Information, a Payment Estimator, and a video.    

Government mulls HECS-style business loans

  A HECS-style loan scheme for businesses, currently being considered by the Treasury, would provide a lifeline for many industries recovering from the economic shock of COVID-19, says the small business ombudsman.  

Industry pressure forces ATO’s hand on STP deadline

  The Tax Office has agreed to push back the start date for the second phase of Single Touch Payroll after intense pressure from all corners of the profession.  

Small businesses urged to register assets before insolvency explosion.

  The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Kate Carnell says it is essential for small business owners to secure their assets and business loans, with economists predicting a steep rise in insolvencies this year.  

How to pass the diversification test

  Diversification, spreading your money across a range of different assets rather than putting it all into one place, is one of the core principles of investment risk management. That's because investment returns from different assets are never consistent.  

Rollout of Director ID Numbers (DIN) is ahead of schedule

  Director identification numbers may be introduced sooner than expected for SMSFs with corporate trustees, with the government moving quickly with the rollout of systems and processes, according to a technical expert.  

The perks of staying invested

  In times of severe market disruption 'doing nothing' often feels unacceptable. Surely such market movements means you have to respond.  

Retirees proceeding with downsizing plans as confidence rises

  Downsizer contributions were the top query received by the BT technical services team in the December quarter, with many retirees looking to downsize for lifestyle and health reasons.  

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