Month: February 2021

[vc_row][vc_column][vc_single_image image=”124″ img_size=”full” alignment=”center”][vc_custom_heading text=”2021 has definitely been an interesting year for most. Nevertheless, COVID-19 is still at large, greatly affecting businesses, each in their own way different way. This month’s newsletter educates our clients on how to sell their business and explores the final phase of JobKeeper and how it could be accessed.” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][vc_column_text]The topics included in this month’s newsletter are:

• Selling your business
• Assessing JobKeeper
• Debt Restructuring
• Streamlined insolvency

Contact our office at (03) 9579 4450 or email us at team@domkara.com.au for any questions you may have![/vc_column_text][vc_separator color=”black”][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_single_image image=”118″ img_size=”full”][/vc_column][vc_column width=”1/2″][vc_custom_heading text=”D’Omkara Knowledge – Selling your business” font_container=”tag:h4|text_align:left” use_theme_fonts=”yes”][vc_custom_heading text=”Two key components are at play; structuring the transaction and positioning the business to the market. In order to sell, you need to get an objective assessment of how the business compares in its market, its competitive position, and what, if any, impediments to sale exist.” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”black”][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_custom_heading text=”D’Omkara Knowledge – Accessing JobKeeper & FAQs” font_container=”tag:h4|text_align:left” use_theme_fonts=”yes”][vc_custom_heading text=”If employers have experienced a sufficient downturn (a 30% threshold applies to most entities) in their actual GST turnover in the December 2020 quarter compared to the same period in 2019, they will be eligible for JobKeeper.” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][/vc_column][vc_column width=”1/2″][vc_single_image image=”128″ img_size=”full” alignment=”center”][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”black”][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_single_image image=”127″ img_size=”full”][/vc_column][vc_column width=”1/2″][vc_custom_heading text=”D’Omkara Knowledge – Debt Restructuring” font_container=”tag:h4|text_align:left” use_theme_fonts=”yes”][vc_custom_heading text=”On 1 January 2021, new laws came into effect that introduce a new, simplified debt restructuring and liquidation framework for small businesses.” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”black”][/vc_column][/vc_row][vc_row][vc_column][vc_btn title=”READ MORE” style=”flat” color=”primary” align=”center” i_icon_fontawesome=”fa fa-book” add_icon=”true” link=”url:https%3A%2F%2Fcdn.domkara.com.au%2Fwebapp%2F2021%2F02%2Fdomfeb21.pdf|title:D%E2%80%99Omkara%20Knowledge%20February%202021|target:%20_blank|”][/vc_column][/vc_row]

[vc_row][vc_column][vc_single_image image=”65″ img_size=”full” alignment=”center”][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=”Dear Valued Client & Partners,” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][vc_custom_heading text=”No doubt 2020 has been a challenging year for many! However, in the recent Federal Budget, the government has announced different incentives that would continue helping Australian businesses & individuals get back up on their feet.” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][vc_column_text]

• The topics included in this month’s newsletter are: JobMaker Hiring Credits
• Tax deductions for investing in your business
• Refunds for Tax Losses
• JobKeeper clawbacks
• Updated Tax Tables – 2020-21 personal income tax cuts Superannuation Early Release

[/vc_column_text][vc_custom_heading text=”Contact our office at (03) 9579 4450 or email us at team@domkara.com.au for any questions you may have!”” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”black”][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_single_image image=”65″ img_size=”full”][/vc_column][vc_column width=”1/2″][vc_custom_heading text=”D’Omkara Knowledge – Extended December JobKeeper deadline” font_container=”tag:h4|text_align:left” use_theme_fonts=”yes”][vc_custom_heading text=”The ATO has extended the JobKeeper monthly business declaration deadline for the month of December until 28 January 2021 (from 14 Jan 2021).” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][vc_custom_heading text=”This applies to the JobKeeper fortnights ending on 6 December 2020 and 20 December 2020.” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][vc_custom_heading text=”The deadline for meeting the minimum wage condition for the JobKeeper fortnight ending on 3 January 2021 has been extended to Monday, 4 January 2021.” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”black”][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_custom_heading text=”D’Omkara Knowledge – Extended December JobKeeper deadline” font_container=”tag:h4|text_align:left” use_theme_fonts=”yes”][vc_custom_heading text=”The ATO has extended the JobKeeper monthly business declaration deadline for the month of December until 28 January 2021 (from 14 Jan 2021).” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][vc_custom_heading text=”This applies to the JobKeeper fortnights ending on 6 December 2020 and 20 December 2020.” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][vc_custom_heading text=”The deadline for meeting the minimum wage condition for the JobKeeper fortnight ending on 3 January 2021 has been extended to Monday, 4 January 2021.” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][/vc_column][vc_column width=”1/2″][vc_single_image image=”68″ img_size=”full”][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”black”][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_single_image image=”69″ img_size=”full”][/vc_column][vc_column width=”1/2″][vc_custom_heading text=”D’Omkara Knowledge – Refunds For Tax Losses” font_container=”tag:h4|text_align:left” use_theme_fonts=”yes”][vc_custom_heading text=”If your company has made a loss, you may be able to claim a tax refund for tax previously paid on profits.” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”black”][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_custom_heading text=”D’Omkara Knowledge – Tax deductions for investing in your business” font_container=”tag:h4|text_align:left” use_theme_fonts=”yes”][vc_custom_heading text=”Stimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses with turnover under $5bn to immediately deduct the cost of new depreciable assets and the cost of improvements to existing assets in the first year of use.” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][/vc_column][vc_column width=”1/2″][vc_single_image image=”70″ img_size=”full”][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”black”][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_single_image image=”72″ img_size=”full”][/vc_column][vc_column width=”1/2″][vc_custom_heading text=”D’Omkara Knowledge – JobKeeper clawbacks” font_container=”tag:h4|text_align:left” use_theme_fonts=”yes”][vc_custom_heading text=”If your company has made a loss, you may be able to claim a tax refund for tax previously paid on profits.” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”black”][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_custom_heading text=”D’Omkara Knowledge – Updated Tax Tables – 2020-21 personal income tax cuts
Superannuation Early Release” font_container=”tag:h4|text_align:left” use_theme_fonts=”yes”][vc_custom_heading text=”Stimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses with turnover under $5bn to immediately deduct the cost of new depreciable assets and the cost of improvements to existing assets in the first year of use.” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][/vc_column][vc_column width=”1/2″][vc_single_image image=”73″ img_size=”full”][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”black”][/vc_column][/vc_row][vc_row][vc_column][vc_btn title=”READ MORE” style=”flat” color=”primary” align=”center” i_icon_fontawesome=”fa fa-download” add_icon=”true” link=”url:https%3A%2F%2Fcdn.domkara.com.au%2Fwebapp%2Fdocuments%2Fdomkara-knowledge-november.pdf%3Futm_source%3Dkc%26utm_medium%3Dkc_blog%26utm_campaign%3Dkc_newletterdec2020|||”][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”black”][/vc_column][/vc_row]

[vc_row][vc_column][vc_row_inner][vc_column_inner][vc_single_image image=”47″ img_size=”full” alignment=”center”][vc_custom_heading text=”What a year it has been! As Christmas draws near, it also signals a fresh start 2021 can bring. In this month of D’Omkara Knowledge, we bring you a summary of the key information you would need to end the year the best you can:” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][vc_column_text]

• Extended December JobKeeper deadlines
• Last chance to access Covid-19 early access to super
• 2021 Risks & Opportunities

[/vc_column_text][vc_custom_heading text=”Contact our office at (03) 9579 4450 or email us at team@domkara.com.au for any questions you may have!” font_container=”tag:p|text_align:justify” use_theme_fonts=”yes”][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”black”][/vc_column][/vc_row][vc_row][vc_column][vc_row_inner][vc_column_inner width=”1/2″][vc_single_image image=”50″ img_size=”full” alignment=”center”][/vc_column_inner][vc_column_inner width=”1/2″][vc_custom_heading text=”Extended December JobKeeper deadline” font_container=”tag:h4|text_align:left” use_theme_fonts=”yes”][vc_custom_heading text=”The ATO has extended the JobKeeper monthly business declaration deadline for the month of December until 28 January 2021 (from 14 Jan 2021).” font_container=”tag:p|text_align:left” use_theme_fonts=”yes”][vc_custom_heading text=”This applies to the JobKeeper fortnights ending on 6 December 2020 and 20 December 2020.” font_container=”tag:p|text_align:left” use_theme_fonts=”yes”][vc_custom_heading text=”The deadline for meeting the minimum wage condition for the JobKeeper fortnight ending on 3 January 2021 has been extended to Monday, 4 January 2021.” font_container=”tag:p|text_align:left” use_theme_fonts=”yes”][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”black”][/vc_column][/vc_row][vc_row][vc_column][vc_row_inner][vc_column_inner width=”1/2″][vc_custom_heading text=”Last chance to access Covid-19 early access to super” font_container=”tag:h4|text_align:left” use_theme_fonts=”yes”][vc_custom_heading text=”31 December 2020 is the last day you can apply to access your superannuation early under the Covid-19 early access measures. The ATO has warned that those wanting to access their superannuation pre-Christmas will need to complete the application by 11 December 2020.” font_container=”tag:p|text_align:left” use_theme_fonts=”yes”][vc_custom_heading text=”*Eligibility criteria can be found in the ‘Read more’ section below” font_container=”tag:p|text_align:left” use_theme_fonts=”yes”][/vc_column_inner][vc_column_inner width=”1/2″][vc_single_image image=”55″ img_size=”full” alignment=”center”][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”black”][/vc_column][/vc_row][vc_row][vc_column][vc_row_inner][vc_column_inner width=”1/2″][vc_single_image image=”59″ img_size=”full” alignment=”center”][/vc_column_inner][vc_column_inner width=”1/2″][vc_custom_heading text=”2021 Risks & Opportunities Opportunities:” font_container=”tag:h4|text_align:left” use_theme_fonts=”yes”][vc_custom_heading text=”Employers & Job Building” font_container=”tag:p|text_align:left” use_theme_fonts=”yes”][vc_column_text]

1. Home Builder & the housing industry
2. Extended rules for writing off assets: Australian subsidiaries of global companies to benefit

[/vc_column_text][vc_custom_heading text=”Risks” font_container=”tag:p|text_align:left” use_theme_fonts=”yes”][vc_column_text]

1. Covid-19 rules & regulations
2. Australia’s relationship with China
3. Cashflow crunch

[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”black”][/vc_column][/vc_row][vc_row][vc_column][vc_btn title=”READ MORE” style=”flat” color=”primary” align=”center” i_icon_fontawesome=”fa fa-download” add_icon=”true” link=”url:https%3A%2F%2Fcdn.domkara.com.au%2Fwebapp%2Fdocuments%2Fdomkaraknowledgedecember2020.pdf%3Futm_source%3Dkc%26utm_medium%3Dkc_blog%26utm_campaign%3Dkc_newletterdec2020|||”][/vc_column][/vc_row][vc_row][vc_column][vc_separator color=”black”][/vc_column][/vc_row]