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Victorian ombudsman finds 12,000 businesses ‘unfairly denied’ COVID-19 grants

Victorian ombudsman finds 12,000 businesses ‘unfairly denied’ COVID-19 grants

by Shared by Accountants Daily | Apr 28, 2021 | News

As a result of the probe, the Department of Jobs, Precincts and Regions said it would now reopen the Business Support Fund for eligible businesses owners who were denied the $10,000 grant. Read more at the Accountants Daily. 
ATO flags audit requirements for accepting downsizer contributions

ATO flags audit requirements for accepting downsizer contributions

by Shared by SMSF Adviser | Apr 27, 2021 | News

From 1 July 2018, members of SMSFs aged 65 years or older can make downsizer contributions into their fund of up to $300,000 from the proceeds of selling their main residence, provided certain eligibility requirements are met. Read more at the SMSF...
WA woman faces jail term over early access to super fraud

WA woman faces jail term over early access to super fraud

by Shared by Accountants Daily | Apr 27, 2021 | News

The 35-year-old woman has been accused of submitting several false hardship claims from early 2019 on behalf of other people, in order to access superannuation payments of up to $10,000 each. Read more at the Accountants Daily. 
Hume praises ‘overwhelming success’ of early access to super scheme

Hume praises ‘overwhelming success’ of early access to super scheme

by Shared by nestegg | Apr 26, 2021 | News

A survey released by the Australian Bureau of Statistics showed that the majority of money withdrawn from super was used to pay bills. Read more at nestegg. 
Scrap tax returns and save on accounting fees, says think tank

Scrap tax returns and save on accounting fees, says think tank

by Shared by Accountants Daily | Apr 26, 2021 | News

The Blueprint Institute on Tuesday released a report titled Bye–Bye Tax Returns which proposes the federal government introduce a $3,000 standardised deduction to help taxpayers avoid the paperwork and costs associated with preparing and submitting tax returns.  Read...
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