Author Archives: Catalyst Financial

Rent relief for Businesses: The Commercial Tenancies Code of Conduct

On Tuesday, 7 April 2020, Prime Minister Scott Morrison announced the release of a Code of Conduct (“the Code”) agreed to by the National Cabinet with respect to tenancy arrangements that involve small-medium businesses that are affected by the COVID-19 outbreak. The objective of the Code is to share the financial burden and cashflow impact… Continue Reading

JobKeeker Payment – Government Clarifies Employer Eligibility

Since the new JobKeeper payment was announced by the Australian Government yesterday, there has been some confusion as to how businesses determine if they have had more than a 30 or 50 percent reduction in revenue in order to be eligible to register for this payment. The Government clarified this today as follows: Most businesses… Continue Reading

JobKeeper Payment – The Next Round of Government Support!

This afternoon, Prime Minister Scott Morrison and Treasurer Josh Frydenberg announced a third round of support for businesses in the form of a JobKeeper payment. The Treasurer acknowledged that the past few weeks have been tough but the weeks ahead will be tougher and stated that the Australian Government has all Australians’ backs and that… Continue Reading

Second Government Coronavirus Rescue Package

This morning, Prime Minister Scott Morrison and Treasurer Josh Frydenberg released another $66 billion in spending to support the Australian economy through the Coronavirus pandemic. This is in addition to the first economic stimulus announced by the government on 12 March 2020. The Prime Minister said that we cannot prevent all the hardships and sacrifices… Continue Reading

Government’s Response to Coronavirus Outbreak

Yesterday, Prime Minister Scott Morrison announced the federal government’s economic response to the coronavirus (COVID-19). The economic response includes tax-related measures and administrative relief, designed to support businesses during this period of uncertainty and economic downturn. Tax Measures to Support Business Investment The government will support business investment with the following tax measures: Tax-free payment… Continue Reading

The Super Guarantee Opt-out is In!

If you’re a high-income earner with multiple employers, you may unintentionally exceed the super concessional contributions cap in any year, causing you to be liable for tax on your excess concessional contributions.  To remedy this, laws have recently been passed to allow you to opt-out of super guarantee from some of your employers. The reason… Continue Reading

Going, going, gone! Main Residence Exemption removed for Foreign Residents

The Capital Gain Tax (CGT) exemption we all love and know has been abolished for most individuals who are non-residents for tax purposes at the time they sell their home. The bill effecting the change received royal assent in December 2019, meaning the changes are now law. Importantly, the changes have been applied retrospectively, with… Continue Reading

The Crowdfunding Craze – Implications for Promoters and Contributors

Crowdfunding is the process of raising small amounts of funds from a large number of people, primarily online, via social media and crowdfunding platforms like Kickstarter and GoFundMe.  A recent example is Celeste Barber’s bushfire fundraising campaign on Facebook, which became worldwide news when it raised more than $51 million in a matter of a… Continue Reading

An Update from the 2020 Xero Roadshow

Each year, the Xero Roadshow is a great opportunity for us to hear about upcoming releases in Xero and the latest and greatest in Xero Add-ons and partner apps, as well as to catch up with other accountants and bookkeepers and share our experiences.  Here are some of the highlights from this year’s Roadshow.  … Continue Reading

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St Leonards, NSW 2065
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