Jobkeeper Payment Update

The JobKeeper Payment Explained

Summary of the JobKeeper Payment Scheme Last week the Federal Government passed a package of Bills through both Houses of Parliament to give effect to the JobKeeper Scheme. We have received a great summary from The National Tax and Accountants’ Association which is relevant and meaningful for our clients. Download your copy here The JobKeeper…

Safe Harbour Provision Eligibility

Are you Safe Harbour Ready??

Why now is the perfect time to ensure that you are eligible to invoke the Safe Harbour Provisions… With all of the change and uncertainty that we are currently experiencing, the additions to our “To Do Lists” or “Action Plans” are growing every day.  But one thing that is imperative to consider at this time…

Advivo Team - We are here to help

Advivo we are here to help!

Advivo – We are here to help! Advivo is a specialist advisory and accountancy firm focussed on taking our clients to the next level.  This often means helping in addressing difficult circumstances such as we are all experiencing now with the COVID-19 crisis. In these unprecedented times procrastination is our worst enemy and fast but…

SG Amnesty Bill

How to access the Australian Government stimulus measures and what they mean for you

Stimulus Measures for Businesses Amid the COVID-19 Crisis Further to our previous correspondence on the COVID-19 crisis, we’re pleased to be receiving many calls from clients looking to find solutions, take actions and identify opportunities to move forward. Remember ‘adapt and overcome’ should be the focus of all businesses and individuals right now, understanding that this will mean different things for different people. Here’s what Advivo is doing to help our clients and…

Queensland Updates - Advivo

QLD Payroll Tax Relief

Payroll Tax Relief for SMB’s and Large Businesses As part of the Queensland State Government’s response to the COVID-19 Crisis, they have provided for relief from Payroll Tax, as follows:  Small and Medium Businesses  All small and medium businesses (payroll up to $6.5M) in Queensland will be eligible for:  A two-month refund of payroll tax  A…

Temporary Drawdown Reduction For Pensions

Government Temporarily Reduces Super Minimum Drawdown The Government is temporarily reducing superannuation minimum drawdown requirements for account-based pensions and similar products by 50% for 2019–20 and 2020–21. This measure will benefit retirees holding these products by reducing the need to sell investment assets to fund minimum drawdown requirements. Superannuation Changes: [divider line_type=”No Line” custom_height=”20″] Remember,…

Temporary Early Release of Superannuation Now Available

Temporary Early Superannuation Release Due to COVID-19 Crisis Individuals affected by the COVID-19/Coronavirus crisis may be able to access up to $10,000 of their superannuation in 2019-20 and a further $10,000 in 2020-21. Applications for a temporary early release are to be made through myGov. What is available and to whom? The total amount accessible with initiative is $20,000 and for an individual to be eligible for early release they must satisfy one…

Government guarantees loans to support businesses

What is available and to whom? The Government has announced they will provide a guarantee of 50% to Small to Medium Enterprise (SME) lenders for new unsecured loans provided to small businesses (turnover up to $50 million). The loans are to be for working capital and not as part of refinance arrangements.  The Guarantee will apply to new loans from early April to 30 September 2020.  Loans will…