Applications for the Business Costs Assistance Program Round Four - Construction are now open. The program provides one-off payments to eligible employing and non-employing businesses in the construction sector. Businesses must have incurred direct costs because of the health restrictions in place between 21 September and 4 October that have not been and will not be partially or fully recovered or otherwise reimbursed. Payments of up to $8400 will be made available to eligible businesses based on payroll size. 

• Businesses must not have received a Business Costs Assistance Program Round Two or Business Costs Assistance Program Round Two July extension payment or Small Business COVID Hardship Fund payment.

Please use the below link to apply

https://business.vic.gov.au/grants-and-programs/business-costs-assistance-program-round-four-construction?utm_medium=email&utm_campaign=BV%20Update%204%20October%202021&utm_content=BV%20Update%204%20October%202021+CID_fc0dfe55cb6e5f58070a0aec0dec618f&utm_source=BV%20Update%20enews&utm_term=Learn%20more

If you need any further information or guidance please contact me at the office

From November 2021,all directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation will need a director identification number (director ID).

A director ID is a unique identifier that a director will apply for once and keep forever.

Directors must apply for their director ID themselves because they will need to verify their identity. No one can apply on their behalf.

The ABRS is responsible for the implementation and administration of director ID. ASIC will be responsible for the enforcement of associated offences. 

https://www.abrs.gov.au/director-identification-number

Please refer to the above website for further information and should you have any queries, please contact our office.

The September newsletter topics include guidance in relation to employee travel expenses, Self-Managed Funds and property development investments, trust distributions to non-residents and more.  

Please refer to the attachment for further information and should you have any queries, please contact our office.

 Download PDF

If your business makes payments to contractors or subcontractors you may need to lodge a Taxable payments annual report (TPAR) by 28 August each year.

The taxable payments reporting system aims to create a level playing field – to prevent dishonest operators from gaining an unfair advantage over the majority. The information we collect in the TPAR allows us to identify contractors who are not meeting their tax obligations.

You need to know about TPAR if your business provides any of the following services, even if it's just part of the services you provide each year: 

• building and constructions services
• cleaning services
• courier or road freight services
• information technology (IT) services
• security, investigation or surveillance service

For further information please refer to the ATO website: https://www.ato.gov.au/business/reports-and-returns/taxable-payments-annual-report/lodging-your-tpar/  or contact our office for assistance.