The state government recently approved a new law to help commercial tenants and landlords better reach agreements about renting during the COVID-19 pandemic. The law was introduced in two parts: Commercial tenancies (COVID-19 response) Act 2020, (21st April 2020) WA code of conduct (29th May 2020) Commercial Tenancies (COVID-19 Response) Act 2020 This act was […]

Today the Federal Government provided an update to the future of the JobKeeper program. Important changes include the following:  The JobKeeper program will continue beyond the initial end date in September and will now carry through until the end of March 2021.  A 30% turnover reduction test must be reapplied for both the December 2020 […]

21 July, 2020

Lodging your tax return as soon as you can this year is proving attractive to recoup potential refunds. However it’s important to consult a professional to assist you with the many COVID-19 changes for the past financial year. Review the below checklist before lodging to ensure you have all your information at hand: 1) Working […]

Are you JobKeeper ready? We’ve got you covered! We are providing you with a checklist to ensure that you have ticked off all that is required to get your business JOBKEEPER READY. KEY DATES 20 April: JobKeeper enrolment opened 30 April: Business and employee enrolment closes for APRIL Monthly reporting: ATO will require monthly updates […]

The Government has announced a $130 billion JobKeeper payment to help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus. Around 6 million workers will receive a fortnightly payment of $1,500 (before tax) through their employer. The payment ensures eligible employers remain connected to their workforce […]

All businesses need to have a plan in place during the COVID-19 pandemic.  This checklist provides general guidance around important aspects and actions you should be considering for your business. We encourage you to have regular contact with your accountant and if you need guidance we are happy to speak for a no obligation phone […]

Are there actions you could be taking with your SUPER right now to minimise your exposure in this market? Naturally many people are concerned about the value of their investments, particularly in the current global environment with COVID-19  which has changed so many things so quickly and dramatically including the value of investments that we […]

1. Understand your current financial position It’s essential to make informed decisions about your business based on your current financial position. Pending restrictions imposed by government, your ability to trade through this period, pay outstanding debts, keep employees or meet existing leasing or loan repayments will be determined by your financial position. Contact your accountant […]

In addition to our previous communications over the past 2 weeks regarding the Federal Government’s stimulus packages, we attach for you a detailed analysis of the Second Economic Stimulus Package which passed through Parliament on Monday night. It is now law so we can rely upon the information and commence the work towards applying these […]

In regards to our previous post explaining the JobKeeper Payment, we are now encouraging clients to register their interest for the JobKeeper payment if they qualify to register. If you believe you will qualify to receive the JobKeeper Payment package announced yesterday, please log onto www.ato.gov.au and register your interest. As outlined in the information sent last […]

This is a short note to advise we are very aware of the announcements made today towards the business wage subsidy referred to as the JobKeeper Payment. We have received an enormous volume of requests for information today regarding this announcement. Kensington Partners aims to provide you with the comfort that we absolutely understand the […]

The past few weeks have been full of challenges for us all. To date, our interactions with many of our clients indicate a mixture of outcomes. Some unfortunately have been forced into immediate shutdown whilst others have only been impacted slightly by these horrible events. The economic impact has happened very fast and the need […]

We are all being impacted by these current events and as we understand more and more of the impact the Corona Virus is having across the world as well as the direct impact it is having on our local economy, the realisation for many is our businesses and livelihoods are under threat. Unprecedented times call […]

Following the escalation in cases of COVID-19 (coronavirus), we wish to re-affirm that Kensington Partners will continue to operate at full capacity and without disruption. We continue to service clients across the business, whilst ensuring the health and well-being of our staff. In response to COVID-19, we have decided to implement our Business Continuity Plan to […]

This morning, the Morrison Government announced a $17.6 billion economic stimulus package to support Australian businesses as we are dealing with the significant challenges posed by the spread of the coronavirus. The package has four components: Household stimulus package Keeping Apprentices in jobs Supporting business investment Providing cash flow assistance to help businesses The new […]

The Western Australian Government has announced measures to support small business during the coronavirus (COVID-19) pandemic. The small business relief includes: $17,500 grants for small businesses with a payroll between $1 million and $4 million. The $1 million payroll tax threshold (announced in October 2019) will be brought forward by six months to 1 July […]

Eligible employers will be paid $1,500 per fortnight per eligible employee. Eligible employees will receive, at a minimum, $1,500 per fortnight, before tax, and employers are able to top-up the payment. Where employers participate in the scheme, their employees will receive this payment as follows. If an employee ordinarily receives $1,500 or more in income […]

Nuala Chau, one of our Accountants, has been leading Kensington Partners support of Operation Christmas Child for a number of years now and 2018 has been our biggest and best effort yet. The team has filled 92 shoeboxes (an average of 2 per employee!) with a range of fun and practical items for kids aged […]