////TRUSTED BUSINESS NETWORK
Latest News
More than 8,000 businesses caught up in ‘robodebt 2.0’ jobkeeper compliance blitz by ATO – The Guardian
The government has told more than 8,000 small business owners they may have to pay back jobkeeper payments they have relied on for income throughout the coronavirus pandemic, after a crackdown on compliance for the wage subsidy scheme. The Australian Taxation Office has confirmed the “compliance” checking procedure revealed by…
Tesla overtakes Toyota as most valuable car company; Australian shares rise – ABC News
The Australian share market has gained ground after the first two hours of trade, as the major bank stocks climbed out of the red. Key points: The ASX 200 edged higher in early trade, led by telcos, tech and health care stocks In the US, Tesla shares rose 5pc overnight,…
‘Robo-debt situation’: 8000 businesses threatened with repaying JobKeeper cash – Sydney Morning Herald
“If we don’t hear anything within 14 days we will advise you that the entity will not receive further payments under this entitlement,” the tax office email said. “If you have made an honest mistake you may not have to repay amounts you have already received.” Loading Replay Replay video…
Business pain will be felt for ‘months to come’ – Sky News Australia
Corner stores, private start-ups and small to medium enterprises are the ones that will hurt the most from the coronavirus pandemic, InvestSMART’s Evan Lucas says. “They’re the ones that unfortunately aren’t going to come back in some respects,” Mr Lucas told Sky News. “And what’s going on in Victoria is…
Small businesses in Melbourne coronavirus hotspots gear up for extended lockdown – ABC News
For the businesses operating in postcode 3055, which takes in the inner suburb of Brunswick West, this week wasn’t supposed to be a return to March lockdowns. Penny Kerasiotis runs a cake shop in Brunswick West called Miss Penny Cakes, and says the impact of the latest lockdown will be…
Tax office tells some businesses who received jobkeeper they were not entitled to payments – The Guardian
Small business owners who have relied on jobkeeper for income throughout the coronavirus pandemic have had future payments suspended by the tax office and warned they may have to pay back what they have received. The Australian Taxation Office’s “compliance” checking procedure affects sole traders who started their businesses after…