The NSW Government has announced a major new grants package and Dine & Discover changes to help small businesses and individuals across NSW impacted by the current COVID-19 restrictions.

The package includes grants of between $5,000 and $10,000 for small businesses, payroll tax deferrals for all employers, an extension of the Dine & Discover program to 31 August 2021 and the ability for people to use Dine & Discover vouchers for takeaway delivered directly to their home by the venue itself.

Overseas markets present a huge growth opportunity

If you have successfully proven your product in Australia, it may be time to look beyond your borders. However, there are several elements to consider before you start jet-setting.

Some of the latest promotions and appointments from across Alliott Global’s member firms in the APAC region.

News of a Trans-Tasman travel bubble commencing on 19 April sparked hope for Australians and New Zealanders eager to travel abroad, lifting confidence in the tourism outlook.

From a solely economic point of view, the opening might have a small negative impact on Australian trade, but the confidence boost of a return to some semblance of travel normality should provide some offset.

Alliott Global Alliance announces the expansion of its international alliance of independent accounting and law firms to its 80th country.

Alliott Global Alliance (‘AGA’) has reached another milestone in its development by increasing the international coverage it can offer to clients and member firms to 80 countries.

Individual Tax Rates

From 1 April  2021 the top individual  tax rate will increase to 39% from 33%.  The 39% will be applied to income earned by individuals over $180,000 per annum. All other tax rates, including the corporate tax rate, remain unchanged. 

Small businesses have been urged for years to take their operations digital.

For many, however, it took a pandemic for them to enjoy the benefits of going online.

New research by Mastercard found smaller firms have been among the hardest hit during the COVID-19 pandemic, but it prompted just more than half of them to accelerate their shift to e-commerce sales.

What COVID-19 alert level 3 means for Alliotts and our clients

From 6AM Sunday (yesterday), Auckland went into lockdown for 7 days.

Level 3 means people are instructed to work from home, as well as non-essential businesses where they can, and limit travel.

From today 1 March 2021, the Alliotts team will be operating from home offices and available to assist with all your accounting, tax and business needs.

Saying the year 2020 wasn’t a great one for the economy is a bit of an understatement.

Shops shuttered, businesses were forced to close or, worse, go bust, and unemployment hit 1 million people as sectors like hospitality and tourism were decimated.

But economist Chris Richardson, from Deloitte Access Economics, is upbeat about 2021 — so much so, his business outlook for the year is: “We got this.”

He expects Australia will see some important recovery this year provided vaccines start to be administered in Australia from next month, state borders remain mostly open and virus numbers remain suppressed.

So what are his key predictions?

For many, 2020 has been the year to forget.

The Coronavirus pandemic (COVID-19) has halted global economies and initiated recessions across continents and countries, including Australia.

In an attempt to alleviate the financial impact of COVID-19, the Australian Government has implemented various reforms (both temporary and permanent) designed to provide relief to financially distressed businesses. One sector hardest hit is that of small businesses and the Australian Government has now finalised a new restructuring process for small businesses, commencing on 1 January 2021.