58 Klingner Rd, Redcliffe QLD 4020
(07) 3883 8999

Tag: COVID-19

COVID-19 Provisions Axed from Modern Awards

The Fair Work Commission has issued a determination to delete the expired COVID-19-related provisions in modern awards. In 2020 it varied 99 modern awards to include unpaid ‘pandemic leave’ and the flexibility to take twice as much annual leave at half pay. The Fair Work Commission has issued a determination to delete the expired COVID-19-related…
Read more

To Survive or Thrive: 7 Tips on How to Make Your Business More Resilient in a Recession

A perfect storm is currently brewing in the wake of the COVID-19 pandemic. Soaring energy prices, supply chain disruptions, labour shortages, an increasingly high cash rate (currently at 1.35 per cent), and inflation expected to hit 7 per cent by end of this year – are all signs of a weak economy.  In the 2022 financial year…
Read more

ATO Hints at ‘Common Sense’ Approach to COVID Test Deductions

Expenses incurred from the test before the individual engages in work will most likely be covered, says CPA Australia. CPA Australia’s senior manager tax policy, Elinor Kasapidis, said the ATO is likely to take a “common-sense approach” to tax deductions on COVID-19 workplace tests. This would allow employees to claim tax deductions for COVID-19 tests…
Read more

COVID Deductions ‘Rely on Work-Related Purpose’

Existing rules already allow claims for rapid antigen tests and other pandemic kit required by employers, says H&R Block. Teachers, medical staff and personal services workers such as hairdressers could claim deductions for masks, hand sanitisers and RATs without the need for legislative changes, said the director of tax communication at H&R Block. Mark Chapman…
Read more

Accountants Back Move to Make COVID-19 Testing Tax-Deductible

Professional accounting bodies have welcomed the federal government’s move to make COVID-19 testing expenses tax-deductible and FBT exempt. In an address to Australian Industry Group on Monday (7 February), Treasurer Josh Frydenberg confirmed the federal government would look to ensure COVID-19 testing expenses are tax-deductible. “Since the start of 2022, the Government has secured more than 80 million Rapid…
Read more

Businesses expect to return to pre-COVID profitability levels by the end of 2022 – but supply chain chaos remains a concern

Business confidence has seen a resurgence across industries in October, as NSW and Victoria reopened and companies returned to pre-pandemic trading. A newly released survey conducted by HSBC found 65% of Australian businesses are optimistic they can generate growth over the next 12 months, in line with international peers. However businesses named supply chain chaos…
Read more

Building Material Costs are Increasing – Should You Buy or Build?

There is no doubt that the construction industry is doing its best to maintain momentum through this period to support economic recovery.  However, the building sector, in general, is still experiencing a significant price increase in building materials, particularly when it comes to steel and timber products, due to sourcing and shipping constraints.  There are…
Read more