Extending administrative relief for companies to use technology

The Government has passed legislation renewing the temporary relief that allows companies to use technology to meet regulatory requirements under the Corporations Act 2001.

These temporary relief measures will allow companies to hold virtual meetings and use electronic communications to send meeting materials and execute documents until 31 March 2022. This should ensure that companies can meet their obligations as they continue to deal with the uncertainty of the COVID-19 pandemic.

With the extension of this temporary relief, the Government will now seek to introduce permanent reforms later this year to give companies the flexibility to use technology to hold meetings, such as hybrid meetings, and sign and send documents.

Also in this month's update:

• Expansion of support for SMEs to access funding
• ATO warns property investors about common tax traps
• Division 293 concessional contribution assessments have been issued
• Travel allowances and 'LAFHAs'
• Time running out to register for the JobMaker Hiring Credit
• Labor commits to income tax cuts and certainty on negative gearing



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