The distribution of superannuation following a member’s death is a relatively complex area of the superannuation system. Superannuation monies do not automatically form part of a deceased’s estate. Instead, the Superannuation Industry (Supervision) Act 1993 (SIS Act) provides that: a) the governing rules of a fund may permit a member to complete a notice that […]
As part of its Economic Response to COVID-19, the Australian Government is supporting business to manage cash flow challenges and to keep apprentices and trainees employed through the Supporting Apprentices and Trainees wage subsidy. The Australian Government is extending and expanding the Supporting Apprentices and Trainees wage subsidy, to include medium-sized businesses who had an apprentice in place […]
Missed or underpaid super amounts? Business downturn due to COVID-19 may be affecting your business and you may have missed, or not paid in full, regular payments. This includes your employees’ super guarantee (SG) for the quarter ended 30 September 2020. By law, the ATO cannot extend the due date to pay super. To meet […]
JobKeeper 2.0 + More On 29 June 2020, Treasury reported back to the Federal Government on its three-month review of the JobKeeper Payment (‘JKP’). Based on Treasury’s findings, the Government announced on 21 July 2020 that the JKP would be extended until 28 March 2021 (i.e., for a further six months beyond its original finish […]
Changes to JobKeeper payments announced Changes to JobKeeper payments announced on 21 July by the Australian Government. Announcing the extension to the JobKeeper Payment until 28 March 2021 and is targeting support to those organisations which continue to be significantly impacted by the Coronavirus. From 28 September 2020, eligibility for the JobKeeper Payment will be […]
