On 23 July 2020, a ‘mini-budget’ was delivered by Treasurer Josh Frydenberg—an economic and fiscal update, detailing the impact of the COVID-19 pandemic and the support provided
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Residential property ownership is often achieved by saving a deposit and funding the balance via a mortgage. As such, when looking to enter the property market, gauging our potential borrowing power can be useful.
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When a life insurance policy is being established, there are many important factors taken into account to ensure it’s appropriate to your financial situation.
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They say only two things are certain in life, death and taxes, and when these two certainties collide, it necessarily causes stress and difficulty.
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Victorian businesses in lockdown now has access to an additional financial support package from the State government. The package includes a new one-off grant.
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Businesses nervous about the state of the economy in the wake of a potential second wave can breathe a sigh of relief.
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It is apparent that many investors were ‘voting’ for a sharp rebound once the dark COVID-19 clouds cleared. The S&P/ASX 200 Index ticked past 6,000 points in early July and is once again in bull market territory. Stocks that are leveraged to online retail activity have been standout performers during this isolation period, including Kogan, Temple & Webster, and City Chic. The past three months of hyper growth rates in online sales have been the equivalent of the past three years of cumulative growth.
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$5,000 support grant for Victorian business’ impacted by the current lockdown. The Victorian Government has announced that Stage 3 ‘Stay at Home’ will be in reinstated across metropolitan Melbourne and Mitchell Shire from 11:59 on 8 July 2020 to help slow the spread of coronavirus (COVID-19) in Victoria. These restrictions will be in place for six weeks and will then be reviewed by the Chief Health Officer.
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The IGTO has launched a new investigation into effective communication of taxpayers’ rights to review, complain and appeal decisions made and actions taken by the ATO. The investigation will seek to understand and confirm how effectively, clearly, and completely the ATO communicates appropriate information to taxpayers and their representatives on these taxpayers’ rights. Initially, the review will focus on ATO communications which concern debt decisions in relation to individuals and small business taxpayers as they have been deemed most “vulnerable”. The communication of taxpayers’ rights is an important but often overlooked feature of the tax system.
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