The changing requirements for reporting directors’ fees have intersected with COVID-19 economic stimulus measures, activity statement reporting and Services Australia increasing potential compliance risks. Several issues have arisen which demand attention.

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With massive government stimulus measures on offer to help Australian businesses ride the COVID-19 fallout, CPA Australia’s Gavin Ord, manager of business and investment policy, warns that taking advantage of these offers without professional advice could be a costly mistake. Whether it’s to fast-track access to payments or to alert clients to potential traps, never has good advice been more valuable.

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