Working capital is a vital component of any successful trading business – providing the liquid cash needed for everyday operations. Suddenly finding your business without this cash can be a shock, but there are ways to fill these cashflow holes and get the company back on track. In short, it comes down to careful cashflow […]
Monthly JobKeeper Declaration Once you have successfully enrolled into the JobKeeper scheme you must provide monthly information on your current and projected turnover. Please note that this is not a retest of your eligibility, just an indication of how your business is progressing under the JobKeeper Payment scheme. The monthly declaration can be done either […]
The coronavirus pandemic has forced a significant amount of change and upheaval onto you and your team – in a very short amount of time. We’ve gone from ‘business as usual’ to closed offices, working from home and the full reality of isolation during an emergency lockdown. To combat this change, it’s important to take […]
“Focus on becoming sustainable through a period of uncertain weakness, and building flexibility to respond quickly when your particular sustained upturn comes along.” Tony Alexander, Former BNZ chief economist. Tony’s View 16 April 2020 For business owners, it is hard to predict when things will return to normal. Even when lockdown measures ease, there is […]
In the context of the Covid-19 outbreak, the duty to remove or minimise health and safety risks in your business has become harder. When lockdown measures ease, businesses will need to have a plan on how they will manage risks and protect workers and customers before they start operations. Many businesses are still unable to […]
The JobKeeper payment is for businesses and not-for-profits that are significantly impacted by the Coronavirus pandemic, and the measures in place to restrict it. The government package will give eligible employees $1,500 per fortnight for a 26-week period, running from 30 March to 27 September. The treasurer has now released rules governing the scheme. We […]
As part of the government’s economic response to the Coronavirus, the Coronavirus SME Guarantee Scheme provides support for small businesses to access credit. The $40 billion scheme is backed by the government, who cover 50% of the risk, with the remaining 50% covered by the lender for new unsecured loans to be used for working […]
PAYG instalments are payments made towards an expected future income tax bill on a quarterly basis. Once the tax return has been completed for a year, the tax liability is calculated and any instalments paid during that year are credited towards the tax bill. The business then either receives a refund or pays the balance […]
The Treasury has released a Frequently Asked Questions fact sheet on the proposed JobKeeper payments. The document responds to a number of questions raised by employers, including: Eligibility of businesses and entity types Determining eligible employees Further details regarding the wage payment and reimbursement process Definition of turnover, including details for new start ups and businesses with […]
The Government has announced a new measure to support Australian businesses, employees and sole traders. The JobKeeper Payment aims to support businesses to maintain their income and connection with employees. These connections will enable businesses to reactivate their operations quickly after the crisis is over. The JobKeeper Payment Eligible businesses will be able to claim […]