JobMaker: how your business can take advantage
11 Mar
Potential changes to the childcare subsidy?

Potential changes to the childcare subsidy?

In its Budget reply speech, Labor has earmarked changes to the childcare subsidy should it win the next election which could occur as early as late 2021. As a part of its plan to get the economy back on track and women working more hours, Labor has proposed the removal of the annual cap of $10,560 (per child) on the childcare subsidy from 1 July 2022 and an increase in the maximum childcare subsidy to 90% from 85%. It will also investigate the feasibility of moving to a 90% subsidy for childcare “for every Australian family”.

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25 Feb
New corporate residency test: more details

New corporate residency test: more details

In order to provide certainty for foreign incorporated businesses conducting operations in Australia, the government announced in the 2020 Budget that it will be seeking to make changes to clarify the corporate residency test. While details have not been forthcoming in the days since the Budget, the Board of Taxation has recently released its review on that same topic, potentially providing a glimpse of what the amending legislation may contain, including what constitutes “sufficient economic connection” and “core commercial activities”.

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25 Feb
JobSeeker COVID supplement extended but reduced

JobSeeker COVID supplement extended but reduced

The JobSeeker COVID supplement has once again been extended for a further 3 months accompanied by an associated cut in rate. The first extension was due to end on 31 December 2020, but the extension will allow the supplement to run until 31 March 2021 which will be welcome news for many individuals still struggling with unemployment. However, beware that the original supplement rate of $550 per fortnight, which was cut to $250 per fortnight in September, will be further cut from 1 January 2021 to $150 per fortnight.

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SPRINGWOOD OFFICE
19 Ferguson Road
Springwood NSW 2777

Phone 02 4751 4444
Fax 02 4751 4135

PENRITH OFFICE
Suite 14/20-24 Castlereagh St.
Penrith 2750

Phone 02 4722 8138
Fax 02 4722 8137

Email advice@rea-associates.com.au
Map
SPRINGWOOD OFFICE
19 Ferguson Road
Springwood NSW 2777

Phone 02 4751 4444
Fax 02 4751 4135

Map
PENRITH OFFICE
Suite 14/20-24 Castlereagh St.
Penrith 2750

Phone 02 4722 8138
Fax 02 4722 8137