Category: COVID-19

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Borders are reopening!

After closing its international borders for nearly 600 days, Australia is now open to foreign visitors starting on Monday, as restrictions gradually lift.

Fully vaccinated travelers from New Zealand who test negative in pre-departure tests can now enter and avoid quarantine in NSW.

The next set of foreign travelers who can visit Australia will be those from Singapore. From 21 November, fully vaccinated travelers can enter NSW and Victoria without quarantine, but would have to test negative in pre-departure COVID-19 tests.

Sydney to Ease COVID-19 Restrictions Ahead of Schedule

Sydney will lift more COVID-19 restrictions for vaccinated residents ahead of schedule next week.

From 8 November, vaccinated individuals will be allowed unlimited numbers of guests in their homes. Pubs and clubs will also be able to accommodate more guests– earlier than the initial plan of 1 December.

However, unvaccinated people will remain under tough restrictions until 15 December or when NSW’s double vaccination rates hit 95%. Currently, around 88% of the state’s population has been fully vaccinated.

Spending Increases as Lockdowns are Lifted

As COVID-19 restrictions ease across the country, spending tracked 20% higher than the corresponding week of 2019, according to the weekly credit and debit card spending data from the Commonwealth Bank.

National spending is on track to hit the growth levels seen earlier in 2021, which averaged at 22% above pre-pandemic figures in late April and early May 2019.

Job ads increase 6.2% in October

Job advertisements increased sharply in October as Sydney and Melbourne started to lift lockdowns. The latest figures from Australia and New Zealand Banking Group showed total job ads climbed 6.2% in October from September, when they fell 2.8%.

The official jobless rate has declined by more than expected this year to hit 4.6% in September.

COVID-19 Disaster Payment Changes in Victoria

Now that 80% of the population in Victoria have been fully vaccinated, changes to the COVID-19 Disaster Payment will come into effect.

Aside from the decrease in payment rate over a two-week period before it stops, people would need to apply each week to ensure they remain eligible.

In the first week after a state or territory reaches the 80% milestone, people can apply for:

• $450 if they’ve lost 8 hours or a full day’s work or more
• $100 if they’re getting a Centrelink or Department of Veterans’ Affairs (DVA) income support payment and have lost work.

In the second and final week after reaching 80% the payment:

• rate decreases to $320 for those who have lost 8 hours or a full day’s work or more
• stops for people getting a Centrelink or DVA income support payment.

Australia Ratifies Asia Free Trade Deal

Australia has ratified a massive free trade deal with Asia Pacific countries. The Regional Comprehensive Economic Partnership that involves Australia, New Zealand and 13 other countries will be the world’s biggest trade agreement, covering 2.2 billion people and 29 per cent of global economic output.

Australia’s businesses will have access to the deal, which will bring nine of the nation’s top 15 trading partners into a single economic framework, from 1 January 2022.

Federal Budget Set for a Post-Lockdown Bounce

Australia’s federal budget is set for a post-lockdown increase before settling into deficits of $60 billion a year because of higher spending in social services and defence.

According to Deloitte Access Economics’ budget monitor, cumulative deficits are projected to be $45 billion lower than expected over the next four years. However, in 2024-25 the deficit will be at least $36 billion on announced policies and it’s tipped to reach $60 billion including $25bn of new spending not yet announced.

The report also says ongoing shortfall in future budgets could only be wiped out by raising GST to 17% or increasing marginal income tax by 5.5%.

Exports to China Increasing Despite Trade War

Australia’s exports to China have increased by 24% from the previous year to hit over $180 billion as of the latest August data, according to research firm Oxford Economics.

Relations between the two countries have been affected since last year after Australia supported a call for a global inquiry into China’s handling of its initial COVID-19 outbreak. Tensions have then filtered into Chinese sanctions on Australian goods.

Despite this, exports to China have held up remarkably well. Australia is one of the few developed countries that enjoys a trade surplus with China, its largest trading partner.

JobMaker Hiring Credit Payments for 3rd Period

JobMaker Hiring Credit payments can be claimed by 31 October 2021 for additional eligible employees hired between 7 April 2021 and 6 July 2021. Eligible businesses can claim for up to a year for each additional eligible employee hired between 7 October 2020 and 6 October 2021. Get in touch with us for assistance in your claim.

Single Touch Payroll (STP) Quarterly Reporting Due Dates

From 1 July 2021, small employers must report any closely held payees through STP. Reports can be done every pay day or quarterly. Also, STP quarterly reporting concessions for micro employers are only available to those who meet certain eligibility requirements, including the need for exceptional circumstances to exist.

We can help you apply for this concession on your behalf. Those who haven’t started reporting through STP and don’t have a deferral or exemption must start reporting now.

Upcoming Key Dates for November 2021

Here are the upcoming key dates for the month of November:

22 Nov 2021

• October monthly BAS due

29 Nov 2021

• September quarter SG charge statement due

Change in Super Rules from 1 November for Your New Employees

There’s a change that involves an extra step to comply with ‘choice of fund’ rules when a new employee starts working for you. Currently, if new hires don’t choose their own Super fund, the employer can pay Super contributions for them to your default fund.

Starting 1 November, employers will need to request their ‘stapled super fund’ details from the ATO. A stapled super fund is an existing account which is linked to an employee, and this change in rules aim to minimise the number of additional Super accounts opened each time an individual starts a new job.

You can use online services for business to request for your new hires’ stapled super fund details. If you need help with your tax and super, get in touch with us!

Changes for Directors starting in November: Identification Number Needed

All directors of a company will need a director identification number (director ID) from November.

The director identification number is a unique identifier that allows shareholders, creditors, employees, and consumers to know certain details about the directors of a company. All directors are required by law to verify their identity with the Australian Business Registry Services before receiving a director ID.

All directors need to apply for their own ID so while we can’t apply for this on your behalf, we can help you if you have any questions.

You can also follow the steps for application here.

Support for Apprentices to be Expanded

The $3.9 billion Boosting Apprenticeship Commencements program will extend support into the second and third year of an eligible Australian Apprenticeship through the $716 million Completing Apprenticeship Commencements program.

From October, eligible employers will receive a 10% wage subsidy in the second year of an eligible apprenticeship, and 5% in the third year. The government’s investment is expected to continue to support the 270,000 anticipated commencements under the Boosting Apprenticeship Commencements program from October 2020 to March 2022.

COVID-19 Government Support By State and Industry

Small businesses that are currently suffering from lockdowns can get financial assistance to help them get through the pandemic. You can find the latest government support schemes for each state or territory here.

The impacts of the COVID-19 restrictions vary from one industry to another. Here, you’ll find the latest government financial assistance available for particular industries.

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time.

Melbourne to Ease Lockdown

Melbourne is set to lift its stay-at-home orders by Friday. This comes as Victoria’s vaccination rate is set to reach 70% this week.

Melbourne has been in lockdown for a total of 262 days– the longest in the world. More easing of restrictions, including the reopening of retail stores, may be expected when 80% of Victorians are fully vaccinated. The government estimated Victoria will reach this target by 5 November 2021 at the latest.

ACT Opens Travel to Regional NSW

ACT relaxed travel restrictions from midday last Saturday, opening up a range of locations in NSW. The expanded travel bubble allows people living in Canberra and other approved NSW border postcodes to move more freely.

You can find a complete list of the areas included in the expanded travel bubble here.

Quarantine-Free Travel From NZ’s South Island to Australia

Months after the travel bubble was temporarily paused due to the growing number of COVID-19 cases in Australia, quarantine-free travel from New Zealand’s South Island to Australia will reopen from midnight Tuesday next week.

However, travel from the North Island will remain off limits until the end of the month. Those travelling from NZ will need to take a pre-departure PCR test within 72 hours of their flight and show evidence they are fully vaccinated. They should also declare they haven’t been to the North Island in the last 14 days.

International Vaccine Certificates Are Here

You can now access proof of vaccination to help you with international travel.

From Tuesday, those eligible can download a certificate from the MyGov website or the Medicare Express app. You need to have an Australian passport or visa, and your immunisation needs to be recorded in the Australian Immunisation Register.

When some international travel resumes, you’ll be able to present it either on your phone or as a printout when your passport is checked as you enter a country that requires full vaccination.

More Jobs Lost to Lockdowns

Australian employment fell sharply for the second consecutive month in September, as lockdowns forced businesses to lay off workers, while the jobless rate was held down by the huge decline in the number of people looking for work.

However, policymakers are expecting recovery in the coming months due to rapid progress in vaccinations that has allowed easing of restrictions in Sydney, with Melbourne and Canberra soon to follow.

The jobless rate climbed up to 4.6%, from 4.5%, but has been artificially held down by the restrictions which prevent people looking for work and being counted as unemployed.

JobMaker Hiring Credit Payments for 3rd Period

JobMaker Hiring Credit payments can be claimed by 31 October 2021 for additional eligible employees hired between 7 April 2021 and 6 July 2021. Eligible businesses can claim for up to a year for each additional eligible employee hired between 7 October 2020 and 6 October 2021. Get in touch with us for assistance in your claim.

Single Touch Payroll (STP) Quarterly Reporting Due Dates

From 1 July 2021, small employers must report any closely held payees through STP. Reports can be done every pay day or quarterly. Also, STP quarterly reporting concessions for micro employers are only available to those who meet certain eligibility requirements, including the need for exceptional circumstances to exist.

We can help you apply for this concession on your behalf. Those who haven’t started reporting through STP and don’t have a deferral or exemption must start reporting now.

Upcoming Key Dates for October 2021

Here are the upcoming key dates for the month of October:

21 Oct 2021

• September monthly BAS due

28 Oct 2021

• September quarter Super Guarantee due
• September quarterly BAS due
• September quarter PAYG instalment due

Change in Super Rules from 1 November for Your New Employees

There’s an upcoming change that involves an extra step to comply with ‘choice of fund’ rules when a new employee starts working for you. Currently, if new hires don’t choose their own Super fund, the employer can pay Super contributions for them to your default fund.

Starting 1 November, employers will need to request their ‘stapled super fund’ details from the ATO. A stapled super fund is an existing account which is linked to an employee, and this change in rules aim to minimise the number of additional Super accounts opened each time an individual starts a new job.

You can use online services for business to request for your new hires’ stapled super fund details. If you need help with your tax and super, get in touch with us!

Changes for Directors starting in November: Identification Number Needed

All directors of a company will need a director identification number (director ID) from November.

The director identification number is a unique identifier that allows shareholders, creditors, employees, and consumers to know certain details about the directors of a company. All directors are required by law to verify their identity with the Australian Business Registry Services before receiving a director ID.

All directors need to apply for their own ID so while we can’t apply for this on your behalf, we can help you if you have any questions.

You can also follow the steps for application here when it’s available in November.

Business Conditions Decline, But Sentiment Improves

NAB’s index of business conditions fell 9 points in September to 5, while its measure of business confidence rebounded by 19 points to 13. Firms in NSW looked forward to easing of stay-at-home rules beginning this week. Victoria and Canberra should start opening up later in October.

Disaster Payments to Be Scaled Back

The COVID-19 Disaster Payment which gives $750 a week to people who have lost at least 20 hours of work, and $450 a week to those who have lost between eight and 20 hours, will be wound back as each state and territory hits the 70% and 80% target vaccination rates for those aged 16 years old and above.

At 70% fully vaccinated, people will have to reapply each week for the payment, instead of it being automatically renewed. Meanwhile, at 80%, the payment will be phased out entirely within two weeks.

Support for Apprentices to be Expanded

The $3.9 billion Boosting Apprenticeship Commencements program will extend support into the second and third year of an eligible Australian Apprenticeship through the $716 million Completing Apprenticeship Commencements program.

From October, eligible employers will receive a 10% wage subsidy in the second year of an eligible apprenticeship, and 5% in the third year. The government’s investment is expected to continue to support the 270,000 anticipated commencements under the Boosting Apprenticeship Commencements program from October 2020 to March 2022.

COVID-19 Government Support By State and Industry

Small businesses that are currently suffering from lockdowns can get financial assistance to help them get through the pandemic. You can find the latest government support schemes for each state or territory here.

The impacts of the COVID-19 restrictions vary from one industry to another. Here, you’ll find the latest government financial assistance available for particular industries.

NSW Grants

The NSW Government is offering financial support to businesses or not-for-profit organisations impacted by the recent COVID-19 restrictions and stay-at-home orders. You can view the NSW Government COVID-19 Support Packages here. Get in touch with us if you have any questions.

ATO support for those affected by COVID-19 restrictions or disasters

The ATO has a range of support options to help those affected by disasters or those experiencing challenges due to continuing COVID-19 restrictions.

The ATO may be able to:

• prioritise any refunds owed to you
• set up a payment plan tailored to your individual situation
• remit penalties or interest charged during the time you have been affected.

If you need help to manage your tax or superannuation obligations, please get in touch with us.

Modernise your Financial Department

It is not uncommon for startups and small businesses to operate with limited resources. But smart technology tools can enable small teams to operate at a larger level, giving them a competitive edge despite their size.

This Forbes article discusses how you can take a modern approach to finance and adopt a strategy that encourages business growth.

• Employ more strategic cash flow management. Improving simple practices such as sending invoices as soon as possible, using online invoicing tools, evaluating where you can reduce expenses, and adjusting inventory.
• Schedule regular financial forecasts to gauge profitability. Financial forecasting is critical for both short- and long-term scenario planning, and an effective tool to estimate profitability.
• Invest in the right technology. Automation can make manual processes much more efficient, increasing the importance of an organisation’s finance tech stack.

Modernising financial management is not as difficult as it seems. However, it takes dedication to ensure your team is on the right track. If you need some guidance with your business finances, get in touch with us today.

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time.

Sydney Reopens After Months of Lockdown

Cafes, gyms, and restaurants in Sydney opened for fully vaccinated customers on Monday after months in lockdown.

Under the relaxed rules for New South Wales, retail stores and restaurants reopened with reduced capacity, and more vaccinated people were allowed to gather in homes and attend weddings and funerals. NSW aims to hit an 80% vaccination rate in late October when more restrictions will be relaxed.

Changes for Directors starting in November: Identification Number Needed

All directors of a company will need a director identification number (director ID) from November.

The director identification number is a unique identifier that allows shareholders, creditors, employees, and consumers to know certain details about the directors of a company. All directors are required by law to verify their identity with the Australian Business Registry Services before receiving a director ID.

All directors need to apply for their own ID so while we can’t apply for this on your behalf, we can help you if you have any questions.

You can also follow the steps for application here when it’s available in November.

Single Touch Payroll Phase 2

The expansion of Single Touch Payroll, also called STP Phase 2, will minimise the reporting burden for employers who are required to report information about their employees to multiple government agencies.

The ATO will share payroll information with Services Australia in near real-time. This will help Services Australia’s customers, who may be your employees, get the right payment at the right time.

Also, you may no longer need to provide separation certificates when your employees leave. The mandatory start date for Phase 2 reporting is 1 January 2022.

Get in touch with us if you have questions about the changes.

Change in Super Rules from 1 November for Your New Employees

There’s an upcoming change that involves an extra step to comply with ‘choice of fund’ rules when a new employee starts working for you. Currently, if new hires don’t choose their own Super fund, the employer can pay Super contributions for them to your default fund.

However, starting 1 November, employers will need to request their ‘stapled super fund’ details from the ATO. A stapled super fund is an existing account which is linked to an employee, and this change in rules aim to minimise the number of additional Super accounts opened each time an individual starts a new job.

You can use online services for business to request for your new hires’ stapled super fund details. If you need help with your tax and super, get in touch with us!

Business Conditions Decline, But Sentiment Improves

NAB’s index of business conditions fell 9 points in September to 5, while its measure of business confidence rebounded by 19 points to 13. Firms in NSW looked forward to easing of stay-at-home rules beginning this week. Victoria and Canberra should start opening up later in October.

Toll Rebates and Discounted Licensing Fees for Small Businesses in Sydney

Small businesses in Sydney could claim $2000 as a support package that can now be used for tolls, licensing fees, and council rates has been expanded by the NSW government to boost economic recovery.

The rebate, which was originally worth $1500, will target tradies and other small businesses with a payroll of less than $1.2 million, who do not qualify for payroll tax.

NSW Premier Dominic Perrottet also announced a “stock guarantee” for businesses with an annual turnover between $75,000 and $50 million to apply for up to $20,000 for loss of perishable stock if affected by local lockdowns. Businesses can also claim $10,000 for reduced capacity to sell non-perishable items.

Disaster Payments to Be Scaled Back

The COVID-19 Disaster Payment which gives $750 a week to people who have lost at least 20 hours of work, and $450 a week to those who have lost between eight and 20 hours, will be wound back as each state and territory hits the 70% and 80% target vaccination rates for those aged 16 years old and above.

At 70% fully vaccinated, people will have to reapply each week for the payment, instead of it being automatically renewed. Meanwhile, at 80%, the payment will be phased out entirely within two weeks.

Support for Apprentices to be Expanded

The $3.9 billion Boosting Apprenticeship Commencements program will extend support into the second and third year of an eligible Australian Apprenticeship through the $716 million Completing Apprenticeship Commencements program.

From October, eligible employers will receive a 10% wage subsidy in the second year of an eligible apprenticeship, and 5% in the third year. The government’s investment is expected to continue to support the 270,000 anticipated commencements under the Boosting Apprenticeship Commencements program from October 2020 to March 2022.

COVID-19 Government Support By State and Industry

Small businesses that are currently suffering from lockdowns can get financial assistance to help them get through the pandemic. You can find the latest government support schemes for each state or territory here.

The impacts of the COVID-19 restrictions vary from one industry to another. Here you’ll find the latest government financial assistance available for particular industries.

Cash Grants for Tourism and Hospitality Businesses in SA

Hundreds of local tourism and hospitality businesses in South Australia have already started receiving new $3,000 and $1,000 cash grants, as part of a joint Federal-State Government small business support package. You can find more information about support grants in South Australia here.

NSW Grants

The NSW Government will be offering financial support to businesses or not-for-profit organisations impacted by the recent COVID-19 restrictions and stay-at-home orders.

NSW: Micro-business grant

The micro-business grant is a $1500 fortnightly payment for businesses with a turnover between $30,000 and $75,000.

To check your eligibility and apply, visit the Service NSW website.

COVID-19 Business Grant

A one-off payment to help businesses, sole traders or not-for-profit organisations impacted by the current Greater Sydney COVID-19 restrictions.

Grants between $7,500 and $15,000 are available to eligible businesses depending on the decline in turnover experienced during the restrictions. For eligibility criteria and to apply, visit the Service NSW website.

JobSaver payment

JobSaver is a fortnightly payment to help maintain employee headcount (as at 13 July) and provide cashflow support to businesses. To check your eligibility and apply, visit the Service NSW website.

Small business fees and charges rebate

If you are a sole trader, the owner of a small business or a not-for-profit organisation in NSW, you may be eligible for a small business fees and charges rebate of $1500 aimed at helping businesses recover from the impacts of COVID-19. Applications are open and you can check your eligibility here.

You can view more NSW Government COVID-19 Support Packages here, including Jobs Plus, Sydney CBD Friday vouchers, Payroll tax support and support for the tourism industry. Get in touch with us if you have any questions.

ATO support for those affected by COVID-19 restrictions or disasters

The ATO has a range of support options to help those affected by disasters or those experiencing challenges due to continuing COVID-19 restrictions.

The ATO may be able to:

• prioritise any refunds owed to you
• set up a payment plan tailored to your individual situation
• remit penalties or interest charged during the time you have been affected.

If you need help to manage your tax or superannuation obligations, please get in touch with us.

JobMaker Hiring Credit

Eligible employers can access the JobMaker Hiring Credit for each eligible additional employee they hire between 7 October 2020 and 6 October 2021. You may be able to claim the following payments:

• up to $10,400 over a year for each additional eligible employee aged 16 to 29 years
• up to $5,200 over a year for each additional eligible employee aged 30 to 35 years

Register before the due date of the first JobMaker period you’re claiming for.

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time.

80% vaccination targets approaching

The Delta outbreak may have reached a turning point, with more than half the country in extended lockdowns and vaccination rates starting to approach national targets.

According to Health Minister Greg Hunt, 80% of Australians will have had their first COVID-19 jabs this week. The government wants all restrictions and travel bans to be lifted when 80% of the population older than 16 years is fully vaccinated.

Change in Super Rules from 1 November for Your New Employees

There’s an upcoming change that involves an extra step to comply with ‘choice of fund’ rules when a new employee starts working for you. Currently, if new hires don’t choose their own Super fund, the employer can pay Super contributions for them to your default fund.

However, starting 1 November, employers will need to request their ‘stapled super fund’ details from the ATO. A stapled super fund is an existing account which is linked to an employee, and this change in rules aim to minimise the number of additional Super accounts opened each time an individual starts a new job.

You can use online services for business to request for your new hires’ stapled super fund details. If you need help with your tax and super, get in touch with us!

APRA tightens lending criteria

The Australian Prudential Regulation Authority (APRA) tightened lending criteria this week. Mortgage applicants must now prove they can make repayments if interest rates spike by 3%, boosting the “buffer” by half a percent. APRA hopes this will ensure borrowers can afford the level of debt they take on, given growing concerns around soaring house prices and slow wage growth.

Borders to Reopen in November

After 18 months of international border closure, Australia will gradually reopen its borders. Australians will be able to return home and travel overseas within weeks as soon as 80% of vaccination targets are met.

At present, the border restriction is until 17 December, but this new announcement means the travel ban could be lifted a month earlier.

Trade Surplus Jumps to $15.08 Billion in August

Australia Trade Balance for August came in as $15.08 billion versus the $10.65 billion forecast. Exports eased to 4% while imports dropped to -1.0% in August, compared to +5.0% and +3.0% in the previous month, respectively.

Government to Buy Experimental COVID-19 Drug

The government will purchase 300,000 courses of Merck & Co’s experimental antiviral pill molnupiravir, which would be the first oral antiviral medication for COVID-19 if it gets regulatory approval. The drug could reduce the chances of dying or being hospitalised due to COVID-19 by 50%.

Molnupiravir is expected to be available in the country by early next year if it gets approval by Australia’s drug regulator.

Disaster Payments to Be Scaled Back

The COVID-19 Disaster Payment which gives $750 a week to people who have lost at least 20 hours of work, and $450 a week to those who have lost between eight and 20 hours, will be wound back as each state and territory hits the 70% and 80% target vaccination rates for those aged 16 years old and above.

At 70% fully vaccinated, people will have to reapply each week for the payment, instead of it being automatically renewed. Meanwhile, at 80%, the payment will be phased out entirely within two weeks.

Support for Apprentices to be Expanded

The $3.9 billion Boosting Apprenticeship Commencements program will extend support into the second and third year of an eligible Australian Apprenticeship through the $716 million Completing Apprenticeship Commencements program.

From October, eligible employers will receive a 10% wage subsidy in the second year of an eligible apprenticeship, and 5% in the third year. The government’s investment is expected to continue to support the 270,000 anticipated commencements under the Boosting Apprenticeship Commencements program from October 2020 to March 2022.

COVID-19 Government Support By State and Industry

Small businesses that are currently suffering from lockdowns can get financial assistance to help them get through the pandemic. You can find the latest government support schemes for each state or territory here.

The impacts of the COVID-19 restrictions vary from one industry to another. Here you’ll find the latest government financial assistance available for particular industries.

Cash Grants for Tourism and Hospitality Businesses in SA

Hundreds of local tourism and hospitality businesses in South Australia have already started receiving new $3,000 and $1,000 cash grants, as part of a joint Federal-State Government small business support package. You can find more information about support grants in South Australia here.

NSW Grants

The NSW Government will be offering financial support to businesses or not-for-profit organisations impacted by the recent COVID-19 restrictions and stay-at-home orders.

NSW: Micro-business grant

The micro-business grant is a $1500 fortnightly payment for businesses with a turnover between $30,000 and $75,000.

To check your eligibility and apply, visit the Service NSW website.

COVID-19 Business Grant

A one-off payment to help businesses, sole traders or not-for-profit organisations impacted by the current Greater Sydney COVID-19 restrictions.

Grants between $7,500 and $15,000 are available to eligible businesses depending on the decline in turnover experienced during the restrictions. For eligibility criteria and to apply, visit the Service NSW website.

JobSaver payment

JobSaver is a fortnightly payment to help maintain employee headcount (as at 13 July) and provide cashflow support to businesses. To check your eligibility and apply, visit the Service NSW website.

Small business fees and charges rebate

If you are a sole trader, the owner of a small business or a not-for-profit organisation in NSW, you may be eligible for a small business fees and charges rebate of $1500 aimed at helping businesses recover from the impacts of COVID-19. Applications are open and you can check your eligibility here.

You can view more NSW Government COVID-19 Support Packages here, including Jobs Plus, Sydney CBD Friday vouchers, Payroll tax support and support for the tourism industry. Get in touch with us if you have any questions.

ATO support for those affected by COVID-19 restrictions or disasters

The ATO has a range of support options to help those affected by disasters or those experiencing challenges due to continuing COVID-19 restrictions.

The ATO may be able to:

• prioritise any refunds owed to you
• set up a payment plan tailored to your individual situation
• remit penalties or interest charged during the time you have been affected.

If you need help to manage your tax or superannuation obligations, please get in touch with us.

JobMaker Hiring Credit

Eligible employers can access the JobMaker Hiring Credit for each eligible additional employee they hire between 7 October 2020 and 6 October 2021. You may be able to claim the following payments:

• up to $10,400 over a year for each additional eligible employee aged 16 to 29 years
• up to $5,200 over a year for each additional eligible employee aged 30 to 35 years

Register before the due date of the first JobMaker period you’re claiming for.

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you.

Australia Post Pauses Melbourne Parcels

Australia Post announced that parcel pickups, collections, and business lodgements would be paused in Melbourne for five days from Friday because of COVID-19 backlogs. Australia Post had already paused collections from retailers in NSW, the ACT and Victoria for three days earlier this month, to clear a record backlog of parcels.

Supply chains are facing challenges as the Maritime Union of Australia escalated industrial action across Sydney and Melbourne ports, and the Fair Work Commission allowed StarTrack drivers to strike for 24 hours amid a stand-off with owner Australia Post.

Sydney’s Lockdown to End Sooner for Vaccinated People

Authorities announced plans to gradually reopen locked-down Sydney, unveiling a two-tiered system that will give vaccinated citizens more freedoms for several weeks. Movement restrictions across New South Wales will be lifted gradually between 11 October and 1 December as vaccination rates push through 70%, 80%, and 90%.

Meanwhile, those who are not fully vaccinated will not be permitted to resume community sports, dining out, shopping, and other activities until the final date.

Rapid Antigen Test Kits Available from 1 November

From 1 November, you can start testing yourself for COVID-19 at home with a rapid antigen test kit. The rapid antigen tests are now finally set to secure approval and could be on sale soon at pharmacies and convenience stores in the country.

Disaster Payments to Be Scaled Back

The COVID-19 Disaster Payment which gives $750 a week to people who have lost at least 20 hours of work, and $450 a week to those who have lost between eight and 20 hours, will be wound back as each state and territory hits the 70% and 80% target vaccination rates for those aged 16 years old and above.

At 70% fully vaccinated, people will have to reapply each week for the payment, instead of it being automatically renewed. Meanwhile, at 80%, the payment will be phased out entirely within two weeks.

Support for Apprentices to be Expanded

The $3.9 billion Boosting Apprenticeship Commencements program will extend support into the second and third year of an eligible Australian Apprenticeship through the $716 million Completing Apprenticeship Commencements program.

From October, eligible employers will receive a 10% wage subsidy in the second year of an eligible apprenticeship, and 5% in the third year. The government’s investment is expected to continue to support the 270,000 anticipated commencements under the Boosting Apprenticeship Commencements program from October 2020 to March 2022.

COVID-19 Government Support By State and Industry

Small businesses that are currently suffering from lockdowns can get financial assistance to help them get through the pandemic. You can find the latest government support schemes for each state or territory here.

The impacts of the COVID-19 restrictions vary from one industry to another. Here you’ll find the latest government financial assistance available for particular industries.

Cash Grants for Tourism and Hospitality Businesses in SA

Hundreds of local tourism and hospitality businesses in South Australia have already started receiving new $3,000 and $1,000 cash grants, as part of a joint Federal-State Government small business support package. You can find more information about support grants in South Australia here.

NSW Grants

The NSW Government will be offering financial support to businesses or not-for-profit organisations impacted by the recent COVID-19 restrictions and stay-at-home orders.

NSW: Micro-business grant

The micro-business grant is a $1500 fortnightly payment for businesses with a turnover between $30,000 and $75,000.

To check your eligibility and apply, visit the Service NSW website.

COVID-19 Business Grant

A one-off payment to help businesses, sole traders or not-for-profit organisations impacted by the current Greater Sydney COVID-19 restrictions.

Grants between $7,500 and $15,000 are available to eligible businesses depending on the decline in turnover experienced during the restrictions. For eligibility criteria and to apply, visit the Service NSW website.

ATO support for those affected by COVID-19 restrictions or disasters

The ATO has a range of support options to help those affected by disasters or those experiencing challenges due to continuing COVID-19 restrictions.

The ATO may be able to:

• prioritise any refunds owed to you
• set up a payment plan tailored to your individual situation
• remit penalties or interest charged during the time you have been affected.

If you need help to manage your tax or superannuation obligations, please get in touch with us.

JobMaker Hiring Credit

Eligible employers can access the JobMaker Hiring Credit for each eligible additional employee they hire between 7 October 2020 and 6 October 2021. You may be able to claim the following payments:

• up to $10,400 over a year for each additional eligible employee aged 16 to 29 years
• up to $5,200 over a year for each additional eligible employee aged 30 to 35 years

Register before the due date of the first JobMaker period you’re claiming for.

Five Strategies to Gain Market Share

New businesses may find it extremely challenging to increase their market share. The success of your efforts depends on your decisions and other factors that vary from one industry to another. However, this Forbes article shares five strategies that will help you gain a bigger market share no matter what sector you’re in:

• Define your brand. Create a recognizable brand identity to distinguish your company from others.
• Study the competition. Dissect the market you’re about to enter and own up to determining what your direct competitors do better that you currently do.
• Target your market. Dive deeper into defining your existing and ideal customers so you can market your business more effectively.
• Be innovative, yet flexible. Find the right balance between sticking with what makes your services unique, while still being willing to adapt to necessary changes.
• Connect with your customers. Directly engage with your customers to acquire feedback and assess their needs.

Need more focused business advice? Get in touch with our advisors today and let’s chat about your specific situation.

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you.

End of Lockdown in Sight for Melbourne

Melbourne will exit its coronavirus lockdown in late October if vaccine targets are met. The city has been under lockdown since August 5, but restrictions could be lifted when 70% of those over 16 years old are fully vaccinated. They projected that target would be reached around 26 October.

Victoria’s construction sector shutdown due to non-compliance with COVID safety rules

Most of the Victorian construction industry has been put under a two-week shutdown.

The shutdown affects the sector in metropolitan Melbourne and other local government areas that are subject to lockdown restrictions, which are the City of Ballarat, City of Geelong, Mitchell Shire and the Surf Coast Shire.

The construction sector will not simply restart in a fortnight’s time if ongoing COVID compliance issues continue.

Victoria’s Health Minister Martin Foley said the vaccination rule would stay, with workers allowed two weeks to get their first dose.

Financial Assistance

The COVID-19 Disaster Payment, Pandemic Leave Disaster Payment may be available for impacted workers.

Ballarat to Exit Lockdown on Wednesday

At this stage Ballarat will exit its seven-day lockdown on Wednesday night. However, there will still be restrictions in place including the mandatory wearing of masks indoors and outdoors and no home visits.

Moderna COVID-19 Vaccine Available at Selected WA Pharmacies

Western Australians 12 years old and above can receive a Moderna COVID-19 vaccine from selected pharmacies. The first distribution of Moderna is expected to reach selected pharmacies between September 27 and October 2.

COVID-19 Government Support By State and Industry

Small businesses that are currently suffering from lockdowns can get financial assistance to help them get through the pandemic. You can find the latest government support schemes for each state or territory here.

The impacts of the COVID-19 restrictions vary from one industry to another. Here you’ll find the latest government financial assistance available for particular industries.

All Australian hotspots: COVID-19 Disaster Payment for recognised lockdowns

This Federal Government support is lump sum payment for workers who cannot earn income because of a state public health order. You can check your eligibility here.

Cash Grants for Tourism and Hospitality Businesses in SA

Hundreds of local tourism and hospitality businesses in South Australia have already started receiving new $3,000 and $1,000 cash grants, as part of a joint Federal-State Government small business support package. You can find more information about support grants in South Australia here.

NSW Grants

The NSW Government will be offering financial support to businesses or not-for-profit organisations impacted by the recent COVID-19 restrictions and stay-at-home orders.

NSW: Micro-business grant

The micro-business grant is a $1500 fortnightly payment for businesses with a turnover between $30,000 and $75,000.

To check your eligibility and apply, visit the Service NSW website.

COVID-19 Business Grant

A one-off payment to help businesses, sole traders or not-for-profit organisations impacted by the current Greater Sydney COVID-19 restrictions.

Grants between $7,500 and $15,000 are available to eligible businesses depending on the decline in turnover experienced during the restrictions. For eligibility criteria and to apply, visit the Service NSW website.

ATO support for those affected by COVID-19 restrictions or disasters

The ATO has a range of support options to help those affected by disasters or those experiencing challenges due to continuing COVID-19 restrictions.

The ATO may be able to:

• prioritise any refunds owed to you
• set up a payment plan tailored to your individual situation
• remit penalties or interest charged during the time you have been affected.

If you need help to manage your tax or superannuation obligations, please get in touch with us.

JobMaker Hiring Credit

Eligible employers can access the JobMaker Hiring Credit for each eligible additional employee they hire between 7 October 2020 and 6 October 2021. You may be able to claim the following payments:

• up to $10,400 over a year for each additional eligible employee aged 16 to 29 years
• up to $5,200 over a year for each additional eligible employee aged 30 to 35 years

Register before the due date of the first JobMaker period you’re claiming for.

Wage Subsidy Scheme for Apprentices and Trainees

The government is continuing the wage subsidy scheme for apprentices and trainees. Under the scheme, the government will pay half the wages of apprentices up to a maximum of $7,000 each quarter for 12 months.

Tips for First-Time Business Owners

First-time founders often waste time and resources during the early stages of building their business because of the knowledge gap on how to efficiently start a company. In this Forbes article, seven tips have been shared for the successful launching and running of a business.

• Create an online presence. Build brand trust by having a beautifully designed website and polished online presence that potential customers, investors, and staff can visit.
• Find an organisation system that works for you. Have one place to store all your information, manage to-do lists, stay aligned on big-picture ideas, manage data, plan out product and content calendars, among other things, so you can run your business more efficiently.
• Stay on top of your finances. You’ll become a more strategic business owner when you keep your finances on track and understand your cash flow.
• Learn to block your time. Scheduling your time is key– block out hours of your time on your calendar to focus on certain projects.
• Don’t skimp on HR and payroll. Ensure your HR and payroll are taken care of so you can have peace of mind. It’s recommended to invest in a platform that can help keep these aspects of your business running smoothly.
• Remember that you don’t have to start from scratch. Helpful templates and resources are available everywhere– you don’t have to start everything from scratch.
• Keep confidential information confidential. Limit who has access to proprietary information.

Your most precious resource is your time. So if you want to find more ways to save time and focus on building a thriving business, get in touch with our advisors today!

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you.

Melbourne and Canberra’s lockdowns extended

The lockdown in Melbourne was due to end this Thursday, but authorities announced that they will extend it as the number of COVID-19 infections in Victoria continues to increase. Melbourne’s lockdown is currently in its fourth week and includes a curfew and limits on exercise.

Meanwhile, Canberra will remain in lockdown until at least 17 September. The capital city has been in lockdown for three weeks after a spate of cases believed to have spread from NSW.

Travel Bubble With Singapore Confirmed

Federal Trade and Tourism Minister Dan Tehan confirmed that a travel bubble with Singapore will commence as soon as 80% of all Australians are fully vaccinated. Trade ministers agreed to finalise the rules for quarantine-free travel between both countries by the end of the year. The travel bubble is expected to work similarly to Australia’s arrangements with New Zealand.

Aussie Businesses Spending Big Before Lockdowns

Business investment jumped to two-year highs in the June quarter as firms boost their spending plans for the year ahead. Recent data released by the Australian Bureau of Statistics last week confirmed the economy had a good head of steam in Q2 before the lockdowns likely threw it into reverse.

Business investment climbed 4.4% to reach $32.7 billion, beating forecasts of a 2.5% increase and the highest level since 2019.

GDP Growth Slows in Q2 Ahead of Lockdown Downturn

Even before lockdowns were implemented due to the Delta outbreaks across the country, the country’s economy was already slowing in the June quarter.

According to the latest figures released by the Australian Bureau of Statistics, GDP rose 0.7% in the June quarter– down from 1.9% in the March quarter, but beating forecasts of 0.5%. Although annual growth was the fastest in modern history at 9.6%, this was only because the pandemic caused a severe contraction in the June 2020 quarter.
On the positive side, nominal GDP reached a record $2.07 trillion for the year, making it the world’s 11th largest economy.

Extra $40 to $50 Million in COVID-19 Assistance for Childcare Centres

After the Victorian government’s announcement at the weekend to limit childcare centre attendees to the children of essential workers, Education Minister Alan Tudge said $40 to $50 million a week in new support for centres would be provided.

The new support package will provide 25% of a childcare centre’s pre-lockdown revenue if it is subjected to orders for children not to attend, and 40% of an after-school care centre’s revenue. It will be available to all childcare centres locked down for at least 4 weeks.

Furthermore, the funding is expected to provide immediate relief to about 3,600 services caring for children in greater Sydney, as well as another 1,200 services in Melbourne and Canberra.

Victorian Business Costs Assistance Program Round 2 July Extension

The Victorian Government’s Business Costs Assistance Program Round Two July Extension (BCAP2e) gives eligible businesses that had not previously applied for the Program in June, or have since become eligible, with the opportunity to apply for the equivalent of the July Top-Up Payments.

The program offers grants of $4800 to eligible businesses, including employing and non-employing businesses, depending on their industry sector.

Read the eligibility criteria here.

All hotspots: COVID-19 Disaster Payment for recognised lockdowns

This Federal Government support is lump sum payment for workers who cannot earn income because of a state public health order. You can check your eligibility here.

NSW Grants

The NSW Government will be offering financial support to businesses or not-for-profit organisations impacted by the recent COVID-19 restrictions and stay-at-home orders.

NSW: Micro-business grant

The micro-business grant is a $1500 fortnightly payment for businesses with a turnover between $30,000 and $75,000.

To check your eligibility and apply, visit the Service NSW website.

COVID-19 Business Grant

A one-off payment to help businesses, sole traders or not-for-profit organisations impacted by the current Greater Sydney COVID-19 restrictions.

Grants between $7,500 and $15,000 are available to eligible businesses depending on the decline in turnover experienced during the restrictions. For eligibility criteria and to apply, visit the Service NSW website.

JobSaver payment

JobSaver is a fortnightly payment to help maintain employee headcount (as at 13 July) and provide cashflow support to businesses. To check your eligibility and apply, visit the Service NSW website.

Small business fees and charges rebate

If you are a sole trader, the owner of a small business or a not-for-profit organisation in NSW, you may be eligible for a small business fees and charges rebate of $1500 aimed at helping businesses recover from the impacts of COVID-19. Applications are open and you can check your eligibility here.

You can view more NSW Government COVID-19 Support Packages here, including Jobs Plus, Sydney CBD Friday vouchers, Payroll tax support and support for the tourism industry. Get in touch with us if you have any questions.

QLD COVID-19 Business Support Grant

Your business may be eligible for financial support through the 2021 COVID-19 Business Support Grants. $5,000 grants will be made available to small and medium businesses across Queensland affected by COVID-19 lockdowns and lockdowns in other states. You must have experienced a 30% reduction in turnover as a result of the lockdown.

Applications will open in mid-August so we will keep you updated.

The Business Queensland website has an overview of the range of assistance available.

ATO support for those affected by COVID-19 restrictions or disasters

The ATO has a range of support options to help those affected by disasters or those experiencing challenges due to continuing COVID-19 restrictions.

The ATO may be able to:

• prioritise any refunds owed to you
• set up a payment plan tailored to your individual situation
• remit penalties or interest charged during the time you have been affected.

If you need help to manage your tax or superannuation obligations, please get in touch with us.

JobMaker Hiring Credit’s Second Claim Period

The second claim period of the JobMaker Hiring Credit is now open. So if you’ve taken on additional young employees between 7 January and 6 April 2021, you may claim the following payments:

• up to $10,400 over a year for each additional eligible employee aged 16 to 29 years
• up to $5,200 over a year for each additional eligible employee aged 30 to 35 years

Register any time until the scheme ends.

Wage Subsidy Scheme for Apprentices and Trainees

The government has announced the expansion of the wage subsidy scheme for apprentices and trainees. Under the scheme, the government will pay half the wages of apprentices up to a maximum of $7,000 each quarter for 12 months. Ask us if you have any questions.

4 Strategies to Help Boost Sales

Small business owners know how challenging it is to close a sale. If you find yourself in a limbo– unwilling to give up on poor strategies or commit to potentially effective ones– try the following tactics shared in a Forbes article to improve your closing percentage.

1. Provide leads with educational materials. It’s easy to close sales when customers truly understand a product or service.
2. Use a multichannel approach. Don’t restrict yourself to a single sales channel– use social media, video and phone meetings, emails, and other ways to connect.
3. Tailor your pitch better. Carefully target client needs and deliver a pitch that would appeal to them.
4. Sell your solution—not the product. Clients want solutions to their problems. So focus on each client’s pain points and deliver a tailored pitch on how you could address those.

If your business is still struggling because of the pandemic, get in touch with our advisors today so we can work out a plan!

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.

This week the NSW state and Australian Federal Governments announced a combined support package to help households and businesses during the ongoing COVID-19 lockdown.

The COVID-19 Disaster Payment will be expanded and increased under this agreement. The payment will increase to $600 if a person has lost 20 or more hours of work a week or $375 if a person has lost between 8 and less than 20 hours of work a week.

From 18 July 2021, the Disaster Payment will be available to those outside the Commonwealth declared hotspots in NSW that meet the criteria for the payment. It will be offered to any other state or territory that experiences an extended lockdown.

Also, a new business support payment will be available for those with an annual turnover between $75,000 and $50 million who can demonstrate a 30% decline in turnover. Eligible entities, including not-for-profits, will receive $1,500 to $10,000 per week based on the level of their payroll. For sole traders, payment will be set at $1,000 per week.

More information will be on the Service NSW website and we will keep you updated.

Get ready

To help avoid delays in completing your application:

• ensure your business and contact details are up-to-date with the Australian Business Register
• ensure your personal, contact and business details are up-to-date in your MyServiceNSW Account and your business profile
• if you don’t have one, create a MyServiceNSW Account and business profile.

Please contact us if you have any questions about your business. We are here to help.

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Perth Dodges New Lockdown

West Australian Premier Mark McGowan announced on Sunday that there will be no second snap-lockdown in Perth, but COVID-19 restrictions will still be imposed after reports that a hotel quarantine security guard and two of his housemates tested positive for the virus.

Nightclubs will be closed immediately until after midnight on 8 May, restrictions will still be in place, and the use of masks will be required.

New South Wales Reports First COVID-19 Case in More Than a Month

NSW reported its first locally acquired COVID-19 case in more than a month.

A man in his 50s who tested positive for COVID-19 had visited a movie theatre, restaurants, a service station, and a meat store in Sydney’s eastern suburbs while unknowingly infectious. He has not travelled overseas in recent times and doesn’t work in any high-risk facility such as a quarantine hotel or hospital.

Authorities are working to trace the source of the virus.

Australian Citizens in India Barred From Returning Home

Australian citizens are barred from re-entering the country if they are coming from India. Prime Minister Scott Morrison defended the decision saying that strict regulations are necessary to keep the country Covid-free.

The ban is currently set to be lifted on 15 May.

WA Small Business Lockdown Assistance Grants Program

The Western Australian Government has announced targeted grants to help small businesses affected by the recent lockdown in the Perth and Peel regions. The program will provide grants of $2000 to small businesses in industry sectors most severely impacted.

The intention is to help small businesses offset some of the direct costs of the lockdown and business closure, such as perishable goods.

A full list of eligibility criteria will be published in the coming weeks.

Federal Budget 2021 to be Announced on 11 May

The Federal Government will hand down its 2021-22 Budget on 11 May. From JobKeeper to JobSeeker and all the associated costs related to the COVID-19 pandemic, many expect this year’s Budget to be modest.

The government has already revealed its expenditure plans on the two most pressing issues– child care and aged care, with annual costing at $1.7 billion and $2.5 billion, respectively. The planned expenditure on these two key issues appears low relative to estimates from independent studies.

Stay tuned next week for a comprehensive coverage of the Federal Budget 2021.

$600 M for New Resilience Agency to Combat Threat of Natural Disasters

The government will establish a national recovery and resilience agency and create a new climate service to help manage the risk of natural disasters.

Around $600 million will be allocated to the agency to fund resilience projects such as bushfire and cyclone-proofing houses, building levees for flood control, and improving the resilience of telecommunications and essential supplies.

New AgMove Support to Boost Harvest Workforce

A new AgMove support will be launched to accommodate short, but intense, harvesting seasons and provide the right incentives to get job seekers to give agricultural work a go.

Under AgMove, the government is introducing more flexible incentives which will see Australians eligible for up to $2,000 in relocation assistance (or $650 for temporary visa holders) when they complete just 40 hours of agricultural work over a two-week period.

If they continue with the agricultural work and complete 120 hours across a period of at least four weeks, they will hit the second eligibility point where they will be able to access reimbursement of up to $6,000 for Australian workers and up to $2,000 for temporary visa holders.

Reinsurance Pool to Cover Cyclone Damage in Northern Australia

The government has announced a reinsurance pool backed by a $10 billion government guarantee. This will subsidise the cost of insurance coverage for cyclones and related flood damage, making insurance premiums cheaper for people living in vulnerable areas of northern Australia from July next year.

The government expects this will reduce premiums by more than $1.5 billion for households, strata and small businesses north of the Tropic of Capricorn over 10 years.

Providing Health Care Remotely During COVID-19

From 13 March to 30 June 2021, new temporary MBS (Medicare Benefits Schedule) telehealth items have been made available to help reduce the risk of community transmission of COVID-19. You can find the temporary Medicare items that will help health care practitioners deliver telehealth services via phone or video conferencing here.

$6.9 M Cyber Security Assistance Boost for Businesses

Nearly 600,000 small- and medium-sized businesses across the country will soon have access to free advice and assistance to improve their cyber security.

The Cyber Security Business Connect and Protect Program is providing $6.9 million in funding to 14 trusted organisations that will work directly with businesses to identify security risks and help them take active steps to secure their systems.

$2000 Upfront Cash if the Unemployed Move for Work

Starting in May, job seekers will get up to $2000 upfront if they move to a new location for ongoing work. Job seekers will get help relocating for jobs offering at least 20 hours a week, instead of the existing threshold of 30 hours.

Wage Subsidy Scheme for Apprentices to Be Expanded

The government will spend $1.2 billion to expand its wage subsidy scheme for apprentices, as JobKeeper ended last month.

Under the apprentice scheme, the government will pay half the wages of apprentices up to a maximum of $7,000 each quarter for 12 months. It will run until September 2022. Ask us if you have any questions.

Upcoming Key Dates

Upcoming key lodgment and payment dates for businesses:

15 May

• Lodge 2020 tax returns for all entities that did not have to lodge earlier and are not eligible for the 5 June concession.

21 May

• Lodge and pay April 2021 monthly business activity statement.
• Final date to add new FBT clients to your client list to ensure they receive the lodgment and payment concessions for their fringe benefits tax returns.

26 May

• Lodge and pay eligible quarter 3, 2020–21 activity statements if you or your client have elected to receive and lodge electronically.

28 May

• Lodge and pay quarter 3, 2020–21 Superannuation guarantee charge statement – quarterly (NAT 9599) if the employer did not pay enough contributions on time. Employers who lodge a Superannuation guarantee charge statement – quarterly can choose to offset contributions they paid late to a fund against their super guarantee charge for the quarter. They still have to pay the remaining super guarantee charge.

Contact us if you have any questions.

Government-backed COVID-19 Loans Extended

The government is extending its small business COVID-19 loans scheme until June 2021. If you need help to access these loans or you want to find out if you are eligible, don’t hesitate to drop us a message.

Tasks Business Owners Should Be Delegating

It doesn’t matter what your big plans are or how well-designed your road map for growth is– the future success of your business will be limited if you don’t work on the right things. This Forbes article discusses the tasks that business owners should delegate to accelerate their business’ growth.

• Low-value admin tasks– Your time is of high value and it’s finite. So instead of spending your time on tasks that anyone with the right tools can do with little instruction, it’s best to focus on the core activities that drive business growth.
• High-value tasks you’re NOT an expert in– If you haven’t been working in accounting, marketing, or any other area of specialisation for the past 10 years, find a professional who has. While you can teach yourself how to do all these, your performance won’t likely match the skill of an expert with years of experience, not to mention that you’ll be slower in completing the task.
• High-value tasks you ARE an expert in– While this may come at a later stage in your business journey, it’s important to train people to perform in the same areas you’re an expert in. This will make your business more resilient to challenges, changes, or unexpected circumstances that will inevitably come.

Need help with the finance-side of your business? Get in touch with us today and ease your burden by delegating your accounting with us.

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Perth Dodges New Lockdown

West Australian Premier Mark McGowan announced on Sunday that there will be no second snap-lockdown in Perth, but COVID-19 restrictions will still be imposed after reports that a hotel quarantine security guard and two of his housemates tested positive for the virus.

Nightclubs will be closed immediately until after midnight on 8 May, restrictions will still be in place, and the use of masks will be required.

New South Wales Reports First COVID-19 Case in More Than a Month

NSW reported its first locally acquired COVID-19 case in more than a month.

A man in his 50s who tested positive for COVID-19 had visited a movie theatre, restaurants, a service station, and a meat store in Sydney’s eastern suburbs while unknowingly infectious. He has not travelled overseas in recent times and doesn’t work in any high-risk facility such as a quarantine hotel or hospital.

Authorities are working to trace the source of the virus.

Australian Citizens in India Barred From Returning Home

Australian citizens are barred from reentering the country if they are coming from India. Prime Minister Scott Morrison defended the decision saying that strict regulations are necessary to keep the country Covid-free.

The ban is currently set to be lifted on 15 May.

WA Small Business Lockdown Assistance Grants Program

The Western Australian Government has announced targeted grants to help small businesses affected by the recent lockdown in the Perth and Peel regions. The program will provide grants of $2000 to small businesses in industry sectors most severely impacted.

The intention is to help small businesses offset some of the direct costs of the lockdown and business closure, such as perishable goods.

A full list of eligibility criteria will be published in the coming weeks.

Federal Budget 2021 to be Announced on 11 May

The Federal Government will hand down its 2021-22 Budget on 11 May. From JobKeeper to JobSeeker and all the associated costs related to the COVID-19 pandemic, many expect this year’s Budget to be modest.

The government has already revealed its expenditure plans on the two most pressing issues– child care and aged care, with annual costing at $1.7 billion and $2.5 billion, respectively. The planned expenditure on these two key issues appears low relative to estimates from independent studies.

Stay tuned next week for a comprehensive coverage of the Federal Budget 2021.

$600 M for New Resilience Agency to Combat Threat of Natural Disasters

The government will establish a national recovery and resilience agency and create a new climate service to help manage the risk of natural disasters.

Around $600 million will be allocated to the agency to fund resilience projects such as bushfire and cyclone-proofing houses, building levees for flood control, and improving the resilience of telecommunications and essential supplies.

New AgMove Support to Boost Harvest Workforce

A new AgMove support will be launched to accommodate short, but intense, harvesting seasons and provide the right incentives to get job seekers to give agricultural work a go.

Under AgMove, the government is introducing more flexible incentives which will see Australians eligible for up to $2,000 in relocation assistance (or $650 for temporary visa holders) when they complete just 40 hours of agricultural work over a two-week period.

If they continue with the agricultural work and complete 120 hours across a period of at least four weeks, they will hit the second eligibility point where they will be able to access reimbursement of up to $6,000 for Australian workers and up to $2,000 for temporary visa holders.

Reinsurance Pool to Cover Cyclone Damage in Northern Australia

The government has announced a reinsurance pool backed by a $10 billion government guarantee. This will subsidise the cost of insurance coverage for cyclones and related flood damage, making insurance premiums cheaper for people living in vulnerable areas of northern Australia from July next year.

The government expects this will reduce premiums by more than $1.5 billion for households, strata and small businesses north of the Tropic of Capricorn over 10 years.

Providing Health Care Remotely During COVID-19

From 13 March to 30 June 2021, new temporary MBS (Medicare Benefits Schedule) telehealth items have been made available to help reduce the risk of community transmission of COVID-19. You can find the temporary Medicare items that will help health care practitioners deliver telehealth services via phone or video conferencing here.

$6.9 M Cyber Security Assistance Boost for Businesses

Nearly 600,000 small- and medium-sized businesses across the country will soon have access to free advice and assistance to improve their cyber security.

The Cyber Security Business Connect and Protect Program is providing $6.9 million in funding to 14 trusted organisations that will work directly with businesses to identify security risks and help them take active steps to secure their systems.

$2000 Upfront Cash if the Unemployed Move for Work

Starting in May, job seekers will get up to $2000 upfront if they move to a new location for ongoing work. Job seekers will get help relocating for jobs offering at least 20 hours a week, instead of the existing threshold of 30 hours.

Wage Subsidy Scheme for Apprentices to Be Expanded

The government will spend $1.2 billion to expand its wage subsidy scheme for apprentices, as JobKeeper ended last month.

Under the apprentice scheme, the government will pay half the wages of apprentices up to a maximum of $7,000 each quarter for 12 months. It will run until September 2022. Ask us if you have any questions.

Upcoming Key Dates

Upcoming key lodgment and payment dates for businesses:

15 May

• Lodge 2020 tax returns for all entities that did not have to lodge earlier and are not eligible for the 5 June concession.

21 May

• Lodge and pay April 2021 monthly business activity statement.
• Final date to add new FBT clients to your client list to ensure they receive the lodgment and payment concessions for their fringe benefits tax returns.

26 May

• Lodge and pay eligible quarter 3, 2020–21 activity statements if you or your client have elected to receive and lodge electronically.

28 May

• Lodge and pay quarter 3, 2020–21 Superannuation guarantee charge statement – quarterly (NAT 9599) if the employer did not pay enough contributions on time. Employers who lodge a Superannuation guarantee charge statement – quarterly can choose to offset contributions they paid late to a fund against their super guarantee charge for the quarter. They still have to pay the remaining super guarantee charge.

Contact us if you have any questions.

Government-backed COVID-19 Loans Extended

The government is extending its small business COVID-19 loans scheme until June 2021. If you need help to access these loans or you want to find out if you are eligible, don’t hesitate to drop us a message.

Tasks Business Owners Should Be Delegating

It doesn’t matter what your big plans are or how well-designed your road map for growth is– the future success of your business will be limited if you don’t work on the right things. This Forbes article discusses the tasks that business owners should delegate to accelerate their business’ growth.

• Low-value admin tasks– Your time is of high value and it’s finite. So instead of spending your time on tasks that anyone with the right tools can do with little instruction, it’s best to focus on the core activities that drive business growth.
• High-value tasks you’re NOT an expert in– If you haven’t been working in accounting, marketing, or any other area of specialisation for the past 10 years, find a professional who has. While you can teach yourself how to do all these, your performance won’t likely match the skill of an expert with years of experience, not to mention that you’ll be slower in completing the task.
• High-value tasks you ARE an expert in– While this may come at a later stage in your business journey, it’s important to train people to perform in the same areas you’re an expert in. This will make your business more resilient to challenges, changes, or unexpected circumstances that will inevitably come.

Need help with the finance-side of your business? Get in touch with us today and ease your burden by delegating your accounting with us.

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.

Contact us

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Flights Between NZ and Western Australia Resumes

New Zealand has reopened quarantine-free travel with Western Australia from midday Wednesday. This comes after it was revealed a traveller from Perth was able to enter New Zealand despite the Australian city being locked down.

Travelers who have been identified as contacts to cases across the Tasman will have to test negative and self-isolate for 14 days before they depart for NZ.

Report: Huge Government Debt Sustainable

In a report by the independent Parliamentary Budget Office, it was indicated that the blowout in government debt in response to funding support for Australians during the pandemic is sustainable. Support measures such as the JobKeeper and JobSeeker scheme saw government debt as a proportion of the economy expand from 28% of GDP to an expected 40% in 2020/21 and to more than 2022/23. It could be a decade before it starts to steadily decline.

Providing Health Care Remotely During COVID-19

From 13 March to 30 June 2021, new temporary MBS (Medicare Benefits Schedule) telehealth items have been made available to help reduce the risk of community transmission of COVID-19. You can find the temporary Medicare items that will help health care practitioners deliver teleheatlh services via phone or video conferencing here.

Study: 83% of Australian Entrepreneurs Confident About Recovery

In a study conducted by market research company Frost & Sullivan and NetSuite, Australian and New Zealand entrepreneurs have emerged from the COVID-19 pandemic in good shape and are confident about recovery. The report showed 83% of Australian entrepreneurs feeling confident about their businesses and next stage of growth.

Further, the study found many entrepreneurs were able to pivot to online sales over brick and mortar amid the lockdowns.

$6.9 M Cyber Security Assistance Boost for Businesses

Nearly 600,000 small- and medium-sized businesses across the country will soon have access to free advice and assistance to improve their cyber security.

The Cyber Security Business Connect and Protect Program is providing $6.9 million in funding to 14 trusted organisations that will work directly with businesses to identify security risks and help them take active steps to secure their systems.

$2000 Upfront Cash So Unemployed Move for Work

Starting in May, job seekers will get up to $2000 upfront if they move to a new location for ongoing work. Job seekers will get help relocating for jobs offering at least 20 hours a week, instead of the existing threshold of 30 hours.

Upcoming Key Dates

Upcoming key lodgment and payment dates for businesses:

30 April

• Lodge TFN report for closely held trusts if any beneficiary quoted their TFN to a trustee in quarter 3, 2020–21.
• Lodge lost members report for the period 1 July 2020 to 31 December 2020.

Contact us if you have any questions.

Government-backed COVID-19 Loans Extended

The government is extending its small business COVID-19 loans scheme until June 2021. If you need help to access these loans or you want to find out if you are eligible, don’t hesitate to drop us a message.

Here’s How Small Businesses Can Bring Shoppers Back Into Stores

With vaccination availability increasing in the country, small business owners can start to refocus their efforts on encouraging in-person visitors. This Forbes article shared some tips to effectively boost in-store traffic in the next months.

• Focus on personalisation– It is about relationship-building and appealing to consumers’ desire to invest in a company’s products and its values. With consumers having unlimited choices at their fingertips, you can stand out by providing a personalised experience that strengthens brand loyalty.
• Prioritise authenticity– Research shows 86% of shoppers value authenticity. Don’t just preach authenticity through customer emails and digital ads, you need to bring that same energy to in-person interactions.
• Align innovation with intent– Pair in-person with digital approaches to improve interactions with customers and ease the transition back into stores.
• Tap into senses and sensibilities– After a year of limited contact, customers are happy to get in front of people. Create in-person experiences that engage multiple senses and cultivate an immersive in-store vibe.
• Add mobile to the in-store journey– Review your mobile engagement to make sure it reflects current products and services, while showing you’re ready to reconnect with consumers.

Need more focused business advice on how to attract in-person visitors? Book a one-on-one consultation with us today and let’s work out a plan!

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.

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Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Australia- New Zealand Travel Bubble Now Open

The long-anticipated travel bubble between Australia and New Zealand started on Monday, marking the first step towards the gradual reopening to the rest of the world. Since October, Australia allows New Zealanders to arrive without going into quarantine, but New Zealand has taken a more cautious approach.

The start of this travel bubble comes ahead of the New Zealand ski season and is welcome news for many tourist towns, including the ski resort of Queenstown.

Australia to Speed Up COVID-19 Vaccine Rollout to Over-50s

Australia is planning to accelerate its COVID-19 vaccine rollout to those over 50 years old after advising under-50s not to get the AstraZeneca vaccine due to blood clot side effects.

State leaders agreed to bring forward vaccinating over-50s, going beyond frontline workers, the elderly, the disabled and people with underlying medical conditions. So far, 1.59 million shots have been given out of the 25 million population.

Besides the concerns about the AstraZeneca vaccine, the vaccination programme has also stalled due to supply hold-ups in Europe.

Australian Government Disaster Recovery Payment and Disaster Recovery Allowance Expanded for WA Cyclone

The federal government had expanded the Australian Government Disaster Recovery Payment (AGDRP) and Disaster Recovery Allowance (DRA) to cover more local government areas. Carnamah, Chapman Valley, Greater Geraldton, Mingenew, Morawa, Perejonori and Three Springs will now have access to the emergency grants which have seen more than $300,000 paid out so far.

The AGDRP is a one-off $1000 payment for adults and $400 for children who have been either seriously injured or had their homes damaged. Meanwhile, DRA is up to 13 weeks of income support for people who cannot get to work or whose place of work has been affected.

You can find out more and check your eligibility here.

$2000 Upfront Cash So Unemployed Move for Work

Starting in May, job seekers will get up to $2000 upfront if they move to a new location for ongoing work. Job seekers will get help relocating for jobs offering at least 20 hours a week, instead of the existing threshold of 30 hours.

Government Extends Energy Bill Support to June

The Federal Government has extended the COVID-19 energy support measures for consumers and small businesses until the end of June.

This means energy suppliers must work out and rearrange payment plans with customers who are experiencing financial hardship. This may include payment plans that mean no payments will be required for some period of time.

Energy companies will also not be allowed to cut the power to customers for unpaid bills as long as the customer is working with the supplier to find a suitable payment solution.

Wage Subsidy Scheme for Apprentices to Be Expanded

The government will spend $1.2 billion on the wage subsidy scheme for apprentices, as JobKeeper ended last month.

Under the apprentice scheme, the government will pay half the wages of apprentices up to a maximum of $7,000 each quarter for 12 months. It will run until September 2022. Ask us if you have any questions.

Claiming the JobMaker Hiring Credit

The JobMaker Hiring Credit is available for eligible employers who create new positions for eligible young people between 7 October 2020 and 6 October 2021.

To receive JobMaker Hiring Credit payments, you don’t need to satisfy a fall in turnover test. All you need to do is complete three steps:

• Register – via ATO online services, Online services for business or the Business portal, or through your registered tax or BAS agent.
• Nominate your eligible additional employees – by running payroll events through your Single Touch Payroll (STP) enabled software by 27 April 2021.
• Claim payments – using ATO online services, Online services for business or the Business portal, or through your registered tax or BAS agent.

You can register at any time until the scheme ends. Ask us if you have any questions.

Upcoming Key Dates

Upcoming key lodgment and payment dates for businesses:

28 April

• Lodge and pay quarter 3, 2020–21 activity statement if electing to receive and lodge by paper and not an active STP reporter.
• Pay quarter 3, 2020–21 instalment notice (form R, S or T). Lodge the notice only if you are varying the instalment amount.
• Make super guarantee contributions for quarter 3, 2020–21 to the funds by this date.

30 April

• Lodge TFN report for closely held trusts if any beneficiary quoted their TFN to a trustee in quarter 3, 2020–21.
• Lodge lost members report for the period 1 July 2020 to 31 December 2020.

Contact us if you have any questions.

Government-backed COVID-19 Loans Extended

The government is extending its small business COVID-19 loans scheme until June 2021. If you need help to access these loans or you want to find out if you are eligible, don’t hesitate to drop us a message.

What Does It Take to Grow Profitably?

When you ask entrepreneurs what their business goals are, one of the most common answers will be something to do with growth. However, the real challenge is achieving both growth and profitability.

This Forbes article discussed how to grow profitably based on the model by Daniel Marcos of The Growth Institute. According to this model, different strategies are required depending on where a business is at in its development.

Startup stage (1-5 employees)– Focus on total revenue. Prove the business model and reach breakeven first. Learn who your more profitable customers are and build systems around delivering your products and services.

Grow up stage (6-15 employees)– Add the right revenue. Conduct an analysis of your gross profit to determine the customers you want to build processes around. It may be a difficult mind shift, but learn to say no to the customers that are not a good fit for your business.

Scale-up (16-100 employees)– Concentrate on the cash flow aspect of your business. Many companies grow too fast and flame out. So in order to not outrun your cash flow, you should know the cost of acquiring a new customer.

Ideally, you’d want the revenue generated by new customers to offset the cost of acquiring them. You want to have net cash flow from growth that you can fund through your operating profit.

Besides working on your cash flow, you must also continue refining the processes you started in earlier stages, growing your people, and adding talent with new skills that can help you in scaling up.

Need personalised business advice? Get in touch with us and tell us more about your business.

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.

Contact us

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Australia Drops COVID-19 Vaccine Target

Prime Minister Scott Morrison said he won’t set a new target date for Australians to get vaccinated, as concerns about the AstraZeneca vaccine and European export restrictions delay the rollout of the programme.

Despite this, Australia is still ahead of some nations including Canada, France, and Japan in terms of vaccinations. About 1.2 million people out of 25.8 million have already received a first dose.

Business Conditions Hit Record High

The National Australia Bank’s report showed business conditions, which involve hiring, sales, and profits, hit a record high despite the end of the JobKeeper wage subsidy.

The index jumped to 25 points in March from 17 a month earlier, signifying strong recovery. This is a positive sign but please get in touch with us if you have any concerns about the future of your business.

$2000 Upfront Cash So Unemployed Move for Work

Starting in May, job seekers will get up to $2000 upfront if they move to a new location for ongoing work. Job seekers will get help relocating for jobs offering at least 20 hours a week, instead of the existing threshold of 30 hours.

Emergency Funding for Those Affected by Cyclone Seroja

Tropical cyclone Seroja has left a trail of damage across a 1,000 km stretch in Western Australia, as it made landfall near Kalbarri on Sunday with 170 km/h winds.

Emergency funding is now being offered to affected residents through the Australian Government Disaster Recovery Payment. Under this scheme, payments of $1,000 for adults and $400 for children will be provided. You can check your eligibility here.

RBA Left Cash Rate Unchanged in April

The Reserve Bank of Australia has left its cash rate unchanged at 0.1%. It has been at this level since November. RBA said they won’t increase the cash rate until inflation was sustainably within the 2% to 3% inflation target and wages growth was higher.

Government Extends Energy Bill Support to June

The Federal Government has extended the COVID-19 energy support measures for consumers and small businesses until the end of June.

This means energy suppliers must work out and rearrange payment plans with customers who are experiencing financial hardship. This may include payment plans that mean no payments will be required for some period of time.

Energy companies will also not be allowed to cut the power to customers for unpaid bills as long as the customer is working with the supplier to find a suitable payment solution.

Wage Subsidy Scheme for Apprentices to Be Expanded

The government will spend $1.2 billion on the wage subsidy scheme for apprentices, as JobKeeper ended last month.

Under the apprentice scheme, the government will pay half the wages of apprentices up to a maximum of $7,000 each quarter for 12 months. It will run until September 2022. Ask us if you have any questions.

Claiming the JobMaker Hiring Credit

The JobMaker Hiring Credit is available for eligible employers who create new positions for eligible young people between 7 October 2020 and 6 October 2021.

To receive JobMaker Hiring Credit payments, you don’t need to satisfy a fall in turnover test. All you need to do is complete three steps:

• Register – via ATO online services, Online services for business or the Business portal, or through your registered tax or BAS agent.
• Nominate your eligible additional employees – by running payroll events through your Single Touch Payroll (STP) enabled software by 27 April 2021.
• Claim payments – using ATO online services, Online services for business or the Business portal, or through your registered tax or BAS agent.

You can register at any time until the scheme ends. Ask us if you have any questions.

Upcoming Key Dates

Upcoming key lodgment and payment dates for businesses:

21 April

• Lodge and pay March 2021 monthly business activity statement.
• Lodge and pay quarter 3,(January–March 2020–21) PAYG instalment activity statement for head companies of consolidated groups

28 April

• Lodge and pay quarter 3, 2020–21 activity statement if electing to receive and lodge by paper and not an active STP reporter.
• Pay quarter 3, 2020–21 instalment notice (form R, S or T). Lodge the notice only if you are varying the instalment amount.
• Make super guarantee contributions for quarter 3, 2020–21 to the funds by this date.

30 April

• Lodge TFN report for closely held trusts if any beneficiary quoted their TFN to a trustee in quarter 3, 2020–21.
• Lodge lost members report for the period 1 July 2020 to 31 December 2020.

Contact us if you have any questions.

Government-backed COVID-19 Loans Extended

The government is extending its small business COVID-19 loans scheme until June 2021. If you need help to access these loans or you want to find out if you are eligible, don’t hesitate to drop us a message.

What Causes Your Profit Problem?

Do you ever feel stuck in your business? After all the time and effort you’ve put into it, your revenue seems to have plateaued or maybe has even decreased. If you’re having a profit problem, it can be a sign of a deeper issue that needs to be fixed.

Below are the three key areas that you should look into:

• Products or services– Are your customers happy with what you’re offering? Listen to what they have to say and make the necessary improvements.
• Systems and structure in place– Next, evaluate if you’ve put a good structure and systems in place. As your business grows, some systems you created in the beginning may no longer work. Also ask your staff for their opinions as they may draw insights on issues you didn’t know existed.
• People and company culture– Did you hire the right people for the job? Are you lacking key talent that could potentially boost your business performance? Also, take a good look at the company culture you’ve created. You may be surprised to find out that you have fostered an unsustainable working environment full of inefficiencies, disarray, or burnout.

While some business challenges are out of your control, it’s important to first cross out possible issues that are within your control. The good thing about finding out that the cause of your profit problem is something internal is that it also means that you have the power to fix it.

Need tailored business advice? Get in touch with us and let’s talk about your specific situation.

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Trans Tasman Travel Bubble to Begin 19 April

Australia and New Zealand will create a quarantine and COVID-testing free travel bubble starting 19 April. However, flights to and from some Australian states may cease if there are future outbreaks.

Australians made up 1.5 million or 40% of arrivals to New Zealand in 2019 before the pandemic, and it was expected that arrivals will reach 80% of that level by early 2022. This travel bubble will also allow the Trans-Tasman Super Rugby competition involving five teams from each country to proceed over five weeks from May 14.

Australia Calls for Release of 3.1 Million Vaccine Doses

The government will be asking the European Union (EU) to release more than 3.1 million doses of the AstraZeneca vaccine, after the EU denied blocking the shipment to the country.

This delay in receiving the additional doses is the reason why it has fallen behind in its scheduled vaccination. The government targeted 4 million people to be vaccinated by the end of March, but only 670,000 people have been inoculated so far.

Job Ads Increase to 12-Year High

Australian job advertisements grew 7.4%, soaring to their highest level in 12 years in March. This increase is a positive sign that the labour market’s recovery can withstand the lifting of some of the government’s support programmes.

Unemployment has also fallen much quicker than expected, hitting 5.8% in February, The Reserve Bank of Australia is aiming to drive it down to 4% or lower to finally lift wage growth and inflation.

Live Music Venue Support For Queensland-based Venues

Live music venues in Queensland can now apply for state government grants of up to $80,000 to help recover from the losses incurred from COVID-19 restrictions.

Smaller venues can apply for up to $60,000, while larger venues with a capacity of more than 500 people can request for grants up to $80,000. You can submit your applications here until April 19.

Australian Government Extends Energy Bill Support to June

The Federal Government has extended the COVID-19 energy support measures for consumers and small businesses until the end of June.

This means energy suppliers must work out and rearrange payment plans with customers who are experiencing financial hardship. This may include payment plans that mean no payments will be required for some period of time.

Energy companies will also not be allowed to cut the power to customers for unpaid bills as long as the customer is working with the supplier to find a suitable payment solution.

Australian Government Disaster Recovery Payment Available After NSW Floods

People adversely affected by the floods in New South Wales can claim a lump sum payment of $1,000 per adult and $400 for each child younger than 16 through the Australian Government Disaster Recovery Payment.

The complete list of local government areas that can claim this financial support until 20 September 2021 can be found here. You can read more about how to claim it here.

If you lost income as a direct result of the floods, you can also take advantage of the Disaster Recovery Allowance.

Stimulus Package for Tourism Industry: Cheap Flights, Loans and Financial Aid

The Australian government unveiled a $1.2 billion tourism support package to help boost local travel, while international borders remain closed.

Airline ticket subsidies for travellers, cheap loans to small tour companies and financial aid for the country’s two largest airlines are designed to keep this critical sector afloat until our international borders reopen.

Wage Subsidy Scheme for Apprentices to Be Expanded

The government will spend $1.2 billion on the wage subsidy scheme for apprentices, as JobKeeper ended last month.

Under the apprentice scheme, the government will pay half the wages of apprentices up to a maximum of $7,000 each quarter for 12 months. It will run until September 2022. Ask us if you have any questions.

Claiming the JobMaker Hiring Credit

The JobMaker Hiring Credit is available for eligible employers who create new positions for eligible young people between 7 October 2020 and 6 October 2021.

To receive JobMaker Hiring Credit payments, you don’t need to satisfy a fall in turnover test. All you need to do is complete three steps:

• Register – via ATO online services, Online services for business or the Business portal, or through your registered tax or BAS agent.
• Nominate your eligible additional employees – by running payroll events through your Single Touch Payroll (STP) enabled software by 27 April 2021.
• Claim payments – using ATO online services, Online services for business or the Business portal, or through your registered tax or BAS agent.

You can register at any time until the scheme ends. Ask us if you have any questions.

Upcoming Key Dates

Upcoming key lodgment and payment dates for businesses:

21 April

• Lodge and pay March 2021 monthly business activity statement.
• Lodge and pay quarter 3,(January–March 2020–21) PAYG instalment activity statement for head companies of consolidated groups

28 April

• Lodge and pay quarter 3, 2020–21 activity statement if electing to receive and lodge by paper and not an active STP reporter.
• Pay quarter 3, 2020–21 instalment notice (form R, S or T). Lodge the notice only if you are varying the instalment amount.
• Make super guarantee contributions for quarter 3, 2020–21 to the funds by this date.

30 April

• Lodge TFN report for closely held trusts if any beneficiary quoted their TFN to a trustee in quarter 3, 2020–21.
• Lodge lost members report for the period 1 July 2020 to 31 December 2020.

Contact us if you have any questions.

Government-backed COVID-19 Loans Extended

The government is extending its small business COVID-19 loans scheme until June 2021. If you need help to access these loans or you want to find out if you are eligible, don’t hesitate to drop us a message.

Five Startup Killers To Avoid

If you want your new business to succeed, you need to make smart decisions and be strategic. In this Forbes article, a business coach shared five business killers that you should avoid if you want your startup to be successful.

1. Too much overhead– Start with the bare necessities and focus on surviving your first year in business. By keeping your business lean in the early stages, you may have a positive cash flow.
2. Limited cash flow– The main reason new businesses have to close is because they don’t have enough money. Avoid making significant cash purchases and use other financing options so you can have sufficient cash in your bank.
3. Too much planning– Don’t overwhelm yourself with all the little details because there will always be little details.
4. Too little planning– While it’s better to start with version one than never start at all, this doesn’t mean you shouldn’t plan at all. You need to have a business plan, including processes and systems in place in order to succeed.
5. Not getting involved in the community– If you’re not networking within your community, you’ll be missing out on vital business connections. Your website and social media are great, but you may also need people in your community to establish your credibility when you’re just starting out.

Need more focused business advice for your startup? Get in touch with us today and let’s work out a plan together!

Get in touch

Contact us if you have any questions or want to discuss the next steps for your business.

Contact us