ATO offers flexibility on payments but no flex on SG Amnesty deadline

ATO offers flexibility on payments but no flex on SG Amnesty deadline

In a time of rapid change and many challenges, both from a professional and personal perspective, it can be easy to get overwhelmed with all the new developments across the economic landscape. That's why the team at BCP is here to support you through these times, bringing you up-to-date information on changes that impact you and your clients. Today we take a look at the JobKeeper payment, which was passed last night in Parliament, as well as the upcoming SG Amnesty deadline.

Significant changes proposed to Division 7A

Significant changes proposed to Division 7A

Last month the Federal Treasury released for public consultation a paper on the “Targeted amendments to the Division 7A integrity rules”. If the proposed changes go ahead, any existing Div 7A loans, unpaid present entitlements (UPE’s) that have been placed on sub-trust arrangements, or any loans that predate the introduction of Div 7A (December 1997) will need to be reviewed before 30 June 2019.