As we all navigate the uncertainty of COVID-19, I make a commitment to continue servicing my clients business requirements. I have temporarily closed my city office and am working from home, attempting to avoid social contact. My quest to be paperless using a variety of online apps has proven beneficial for the current crisis. If you need to contact me, please email or phone me. I can also use Zoom to do a screen sharing session with you. I believe it is important that we follow advice by those who know and actively practice “physical distancing”.
The federal and state governments have released are a variety of incentives to assist business owners. To discuss your specific situation, contact me. A brief outline of the most applicable to us follows: Instant write off up to $130,000 Cashflow Boost – PAYGW credit of up to $100,000 (minimum $20,000) Subsidy of up to $21,000 for apprentice wages Payroll Tax relief Jobseeker - for employees terminated and not re-engaged Jobkeeper – flat $1,500 per fortnight for employees on payroll as at 1 March 2020 Commercial rent – six month moratorium on evictions, reprieves from payments on loans for Landlords Federal Government - Interest free loan (up to three years) for up to $250,000 via your bank/financier Queensland Government – interest free loan/low interest (up to one year) for up to $250,000
There are some excellent resources to help you keep up to dated. Download the COVID-19 App, available from your Appstore Visit Australian Government - The Treasury COVID-19 website
Be aware that there is no flexibility for payment of Superannuation – Super for the quarter ended 31 March 2020 must be received by funds by 28th April 2020. On the subject of Superannuation, there is an amnesty of on unpaidsuperannuation to March 2018. If this applies to you, please contact me to discuss.
If you are able to use MyGovID (Auskey has now expired), please log in and ensure that the ATO has correct bank account details for your business.
Receiving payments from customers and paying your suppliers is a huge issue for most of us. Please communicate ith them on a regular basis. Once Australia has “risen from the ashes”, you will need both customers and suppliers.