Additional support for Victorian businesses

As you would have heard, the Victorian Government has announced updated restrictions for Melbourne and regional Victoria to help slow the spread of COVID-19.  Stage 4 restrictions were placed from 6pm on Sunday 2 August for metropolitan Melbourne. Stage 3 restrictions are in place from 11:59pm on Wednesday 5 August for Regional Victoria, including Mitchell Shire. These restrictions mean that many businesses will have to close or limit their operations.…  Read more

EOFY 2020 Is Fast Approaching – Are You Prepared?

It’s almost that time again – EOFY! With 30th of June fast approaching, are you prepared yet again for end of financial year? This year particularly is going to be quite different with the COVID-19 stimulus packages the Australian government has released. There is more to take into consideration when preparing your financials. Stimulus Payments As a result of COVID-19 the government has released stimulus packages for business like the…  Read more

Are you sure you are eligible for the government stimulus packages?

Our role as advisors is to support small businesses, but we cannot compromise our standards along the way, particularly as the effects of COVID-19 continue to rage on for our clients. The Tax Practitioners Board (TPB) together with the ATO recently released a statement as a reminder of the ethical responsibilities of accountants and bookkeepers. The core of their message was that the ATO will not look favourably on businesses…  Read more

JobKeeper plus COVID-19 Update

The COVID-19 pandemic is impacting nearly every aspect of our lives and will be remembered as a pivotal time in history. Like any other event that impacts the world, we don’t know what the future will be like, but we do know that the other side of this will require resilience and creativity from all of us. In the spirit of resilience, we have put together some useful resources to…  Read more

COVID-19 updates for the week

Here we are another week down! We hope everyone enjoyed their Easter break and is feeling a little fresher. Many of us are adjusting to a new normal – staying home as much as possible, whilst finding our groove working remotely, if that’s an option. The government is putting together financial resources to support small business, and many other businesses are doing what they can to help business owners keep…  Read more

What are the Trends in Business? The New Paradigm?

In the last two months, the world has changed. And with it, business has also changed in ways that are likely to be with us permanently. It is time to think about what the future is likely to bring to start preparing our businesses for the new reality. With bricks and mortar business being impacted by forced closures and social distancing, there has been a rapid move towards remote systems…  Read more

COVID-19 updates just keep coming so here’s what else you should know

10th April 2020 Rental waivers and deferrals for commercial tenants Prime Minister Scott Morrison announced some new measures for landlords and tenants on Tuesday 7th April. The new mandatory code will apply to tenancies where the tenant or landlord is eligible for the JobKeeper program, which means those that are in financial distress. This code was described to include “good-faith principles” where landlords must not terminate the lease or draw…  Read more

JobKeeper legislation has now passed through Parliament – so what does this mean for eligible Australian businesses?

The JobKeeper legislation was passed by the Federal Government yesterday with some additional amendments especially around the Fair Work Act allowing employers increased power to vary employment terms in order to assist them to stay in business and to maintain their workforce. So, what does this mean for Australian businesses, employers and employees? Up to 6 million Australians are about to start receiving $1500 per fortnight wage subsidy as part…  Read more

Make the right business decisions – using cashflow forecasts

With the COVID-19 virus, business is facing unprecedented impacts on their trading. Many businesses are having to cope with change and needing to make fast, informed decisions about what they need to do to stay afloat. And the key to staying afloat is having sufficient cash or access to cash when it is needed. There is no point finding out that you are in difficulties after the fact – you…  Read more

‘Job Keeper’ $1500 fortnightly payment makes up Government’s 3rd stimulus package

We seem to not be able to catch a breath from all the chaos of COVID-19, we have just got word of the 3rd stimulus package from the Australian Government. This package focuses on the ‘Job Keeper’ payment, aimed at helping businesses keep their staff, which will be a lifeline for many people over the coming months. Mr Morrison said the latest package, which comes on the back of two…  Read more

COVID-19 Update – Government considers economic ‘hibernation’ for businesses by providing rent, mortgage and energy relief as part of a third stimulus.

Businesses and as well as ordinary Australians have some further relief coming their way once the third stimulus package is announced any day now. Scott Morrison spoke yesterday saying that “what we will be announcing will be to seek to hibernate Australian businesses.” He will be unveiling his third stimulus package and day. The Prime Minister claims that our government’s intentions are to preserve “as much of the economy as…  Read more

COVID-19 Grants, Tax Breaks and Assistance Packages – Webinar Recording with Neto

It was a pleasure to be invited by NETO CEO Ryan Murtagh to participate in a joint free webinar to discuss how Australia’s changing landscape is impacting small business owners and what options are available by the Australia Government to help through the crisis. We covered various topics including what grants, tax breaks and assistance packages are available to Small Business owners during the Coronavirus crisis. We talked about the…  Read more

2nd Stimulus Package announced

The Australian Government has announced a second stimulus package as we continue to fight COVID-19. The $66 billion dollar coronavirus stimulus provides relief for small businesses, casuals and welfare recipients.  This combined stimulus of $189 billion dollars will hopefully reduce some of the impact Coronavirus is having on our community. Following the government’s first stimulus package less than 2 weeks ago, Treasurer Josh Frydenberg said “we now expect the economic…  Read more

Are you worried about your business?

Now more than ever, it is important to monitor your business performance and set up forecasts. You may need to make some tough decisions in the months to come. You need to know on a week to week, or even day to day basis exactly where your business stands. Cashflow Forecasting One particular area of analysis: cash flow forecasting is critical in determining whether a business will make it through,…  Read more

Are You Managing Remote Teams? Here Are Some Tips That May Help You

More and more business employees are now telecommuting, so companies around the world are restructuring their management practices to meet the challenges of collaborating remotely. Now with COVID-19 pandemic upon us more an more business owners will seek ways to continue working so by introducing remote teams it can be achievable.  Our business has been working this way for a while and it can work well.  Here are some tips…  Read more

What the Coronavirus Stimulus Package means for you

It’s hard to escape the news of the Coronavirus as it continues to have a huge impact on people across the world. Closer to home, the Morrison Government has announced a stimulus package in response to the anticipated economic downturn. This package includes a number of economic stimulus measures for the 2019/20 and 2020/21 income years, with most of targeted at helping small to medium-sized businesses. Here to help But…  Read more