Government Grants

February 3, 2021

6 Victorian COVID-19 related grants

Late last year, legislation passed that provided that certain grant payments in response to COVID-19 would be made non-assessable non exempt income. The legislation requires the Treasurer to declare that a grant program is eligible by legislative instrument if he is satisfied that it was in response to the economic impacts of the coronavirus pandemic […]

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October 30, 2020

JobMaker Hiring Credits: What We Know So Far

We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and until this occurs, the JobMaker rules are not certain and may change. More details should be available soon and we’ll let you know as soon […]

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October 1, 2020

Victorian Government Support for Business

On Sunday 13 September 2020, the Victorian Government has announced a new support package of $3 billion, in “cash grants, tax relief and cashflow support delivered to Victorian Businesses.”Read the Victorian Government Announcement here. While there are almost no details on the support package for Businesses as yet, we wanted to put together what we […]

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JobKeeper: The next steps

The first tranche of JobKeeper ended on 27 September 2020. We look at the issues for those seeking to qualify for the second tranche of JobKeeper and for those no longer eligible. As we have discussed, we will be contacting you to discuss JobKeeper 2.1. If you do not hear from us by next Friday, […]

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September 1, 2020

New JobKeeper Alert

With the employee test date for JobKeeper moved to 1 July 2020, some additional employees might have become eligible. The August JobKeeper monthly business declaration is due by 14 September and is different to the previous form as it covers three JobKeeper fortnights. Employers need to ensure that they identify all additional employees who could […]

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Question of the month

My business received a grant from the State Government. Do I pay tax on it? Short answer; probably. Income tax Grants are likely to be taxable unless they are specifically excluded from tax. If the grant relates to your continuing business activities, then it is likely to be included in assessable income for income tax […]

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Contact

Suite 13, 241 Blackburn Road Mount Waverley VIC 3149

Phone: (03) 9802 2533

Fax: (03) 9802 0590

Postal Address: PO Box 323, Mount Waverley, Victoria 3149

Email: mail@rogersonkenny.com.au

ABN: 29 545 604 022