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November 2020

Homebuilder program extended

On 29 November 2020, the Federal Government announced that the HomeBuilder program will be extended to 31 March 2021. The HomeBuilder program provides eligible owner-occupiers a grant to build a new home or substantially renovate an existing home.

The JobMaker Scheme

The Economic Recovery Package (JobMaker Hiring Credit) Amendment Bill 2020 received Royal Assent on 13 November 2020. Final Rules governing JobMaker will be released after public consultation, therefore the information provided in this document is based on the draft rules.  

Free one-on-one business advisory sessions to support inner-city businesses impacted by COVID-19

Moore Australia (VIC) is proud to partner with the City of Melbourne to support inner-city businesses impacted by COVID-19.  

2020-21 New South Wales State Budget

The New South Wales Government delivered their 2020-21 budget this week with a focus on creating jobs and securing the future amidst the COVID-19 pandemic.

Case Study: Successful Sale of a General Medical Practice

Planning and executing an effective exit strategy is not just about the outcome; it’s also about being supported by an expert team who focus on more than just financials. This successful case study demonstrates how we manage this process. 

Northern Territory Budget 2020-2021

Chief Minister and Treasurer Michael Gunner delivered the NT Budget yesterday, stating that his 2020 budget covers 3 objectives – controlling the virus, protecting jobs and kick-starting the economy. In his speech, the Treasurer said “While the Australian economy is forecast to shrink by a further one-and-a-half per cent in this financial year, as the worst effects of the crisis are felt, in the Territory we are expected to hold about steady, contracting by just 0.1 per cent.”

South Australian State Budget 2020-2021

Treasurer Rob Lucas delivered his third State budget for the Marshall Liberal Government yesterday, with the main focus on economic recovery by creating jobs and inspiring confidence in business and households. 

Loss carry back rules for companies

The loss carry back rules for companies which were announced in the 2020-21 Federal Budget are now law. The Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Bill 2020 (the Bill) received Royal Assent on 14 October 2020.

Temporary Full Expensing Provisions

The temporary full expensing (TFE) of depreciating assets measure announced in the 2020-21 Federal Budget is now law. The Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Bill 2020 (the Bill) received Royal Assent on 14 October 2020. The TFE provisions allow eligible businesses with an aggregated turnover of less than $5 billion to claim a tax deduction for the full cost of an eligible depreciating asset purchased between 6 October 2020 and 30 June 2022 (the relevant period).