Am I eligible for the flood grants?

There are several flood grants currently available in both QLD & NSW, covering the major flood events in Nov21, Feb22 and Nov22.  

Grants of up to $50,000 are available for small business, and up to $75,000 is available for primary producers. 

While the grants are not available for expenses which are covered by insurance, or for loss of income, they may be available for: 

• Repairs to buildings (other than housing)
• Repairs to essential plant & equipment 
• Equipment & materials to undertake clean-up
• Disposing of damaged goods & stock 
• Purchase or hire of equipment essential to the continuing of the business 
• Additional labour costs (i.e. above and beyond normal wage expenditure)

You may be required to show the following as evidence of your claim: 

• Photos of damage
• Quotes and or tax invoices 
• Proof of payment (depending on the grant amount you are applying for)
• Rates notices
• Details of insurance policy  

If you think you may be eligible and would like any assistance, send us a message and we'd be happy to help!

STP Phase 2 was originally announced in the 2019-20 Budget, with the aim of increasing the information provided to the ATO each pay run, and also providing relevant information to other government agencies including Services Australia. 

The initial start date for Phase 2 was 1 January 2022. However, if your payroll provider was not ready by this date, then they would have got an extension for more time. 

When your payroll provider is ready, you will need to start Phase 2 reporting. Your payroll provider will either contact you directly, or you will see the change in your payroll software. 

You will need to follow the prompts to ensure you have updated your payroll settings where necessary, and included any additional information required for each employee. 

The key changes in STP Phase 2 are: 

• You will no longer report one amount to the ATO for 'Gross' wages. Instead you will now separately report paid leave, allowances, overtime, bonuses & commissions, directors fees and salary sacrifice amounts. 
• You will provide additional information each pay run around employment and taxation, including each employees' employment basis, information on their TFN declaration and details of when and why they leave their employment with you.  
• You will report different income types, including Salary and Wages (SAW), Closely Held Payees (CHP), Working Holiday Makers (WHM), etc. 
• You may also include child support deductions. 

This can seem like a lot, so if you need any assistance with the transition, we're here to help.