COVID INFORMATION
Assessable Income or NANE?
With the end of financial year (EOFY) fast approaching, it's not too late to review your financial situation and do some last minute fine-tuning where needed.
NSW State Government announces a COVID-19 Small Business Relief Package.
Why are some businesses returning JobKeeper to the ATO?
How to Sell Your Business
Did you know you could be eligible for a $500 rebate if you buy and install eligible safety equipment to address a safety problem in your workplace? This rebate provides up to $500 to eligible small business owners and sole traders in NSW who buy and install equipment to make their workplace safer. This can also assist in covering the installation of items to address COVID safety measures.
JobKeeper: The next steps
Banks are beginning the process of re-assessing the initial wave of COVID-19 loan payment deferrals as the end of the six-month deferral period approaches in September and October 2020. Of the more than 900,000 loans which have been deferred due to COVID-19, the Australian Banking Association (ABA) said at least 450,000 loan deferral customers will be re-assessed in coming weeks. ABA CEO, Anna Bligh, said those borrowers who can resume repayments at the end of their deferral, will be required to do so. Those still in difficulty, will need to work with their bank to restructure or vary their loan, including converting to interest only payments for a period of time, or extending the term of the loan. In some cases, a further four-month deferral may be granted, but this will not be automatic, Ms Bligh said.
On Sunday 13 September 2020, the Victorian Government announced a new support package delivering $3 billion in “cash grants, tax relief and cashflow support delivered to Victorian businesses.” There are almost no details on the package as yet – just the announcement. We will bring you more as soon as they are released. And, some of the $3 billion appears to be in the form of deferrals (not waivers) and includes past initiatives. Here is what we know so far:
