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WA expands COVID-19 business support with $67 million package

25 Feb 2022

With Western Australia’s border due to open on 3 March when the State is forecasted to reach its 70% vaccination rate, the McGowan Government has released $67 million in stimulus measures for business affected by COVID-19 on 24 February.

VIC Government releases new business stimulus package from March 1

25 Feb 2022

A range of VIC State Government stimulus packages have been announced to boost the economy starting from March 1.

Patent box regime for medical and biotechnology patents - legislation introduced

14 Feb 2022

The Federal Government introduced the much anticipated “patent box regime” rules into Parliament on 10 February 2022, as announced in the Federal Budget 2021-22.

NSW $250m Jobs Plus Program closes 30 June 2022

02 Feb 2022

The continued pressure on businesses to grow, while riding the current wave of uncertainty, has shone a light on programs like the NSW $250m Jobs Plus program as a mechanism to support these ambitions.

Relief packages explained for NSW businesses hit during the latest wave of COVID

01 Feb 2022

In response to soaring COVID case numbers and the ramifications of self-imposed lockdowns during the last few months, the NSW State Government has announced relief is now available in a $1 billion COVID rescue package.

QLD Project Trust Account regime expands to include private commercial building projects

01 Feb 2022

Builders with projects in Queensland who are impacted by the requirement to operate PTAs on each project they undertake should be preparing their business for the administrative burden of managing this additional regulatory compliance.

ATO releases PCG 2021/4: Allocation of professional firm profits

17 Dec 2021

Released on 16 December 2021, the ATO has finally released its final Practical Compliance Guideline PCG 2021/4 for the allocation of professional firm profits.

Payment Times Reporting Scheme

16 Dec 2021

The Payment Times Reporting Scheme (PTRS) commenced on 1 January 2021, requiring organisations with an annual income over $100 million to report on the time it takes them to pay small business suppliers. The purpose of this scheme is to increase transparency around the payment terms offered by large businesses to small business suppliers, thereby creating incentives to improve payment times and practices.

Are large businesses paying small businesses within their Standard Payment Terms?

16 Dec 2021

The first Payment Times Reporting Register was published on 30 November 2021, and covered the reporting period 1 January 2021 to 30 June 2021.

MYEFO reveals jobs and wages on the up but have we spent all our budget ahead of another COVID wave?

16 Dec 2021

The Mid-Year Fiscal and Economic Outlook (MYEFO) announcements handed down today included the creation of 1 million new jobs and an expected wages increase of about 11.24 per cent, while inflation is tipped to grow by 10.25 per cent between now and 2024-25. These developments reflect a positive business growth outlook linked to increased business investment and the economy getting back on track following a disruptive year.