fbpx

Good News on Covid Grants

Lots of businesses were under financial stress during Covid and even now and many groups were campaigning to make it better for Grant money received from State Governments. Late last year, legislation passed that provided that certain grant payments in response to COVID-19 would be made non-assessable non-exempt income. The legislation requires the Treasurer to … Read more

Forecasting During a Pandemic

Now, more than ever, business operators should have a plan in place to manage during uncertain times. Even if your business is not directly impacted, it’s likely your customers, your supply chain, and your workforce will be to some extent. So, how do you plan for uncertainty when every assumption is subject to change? Understand … Read more

Has COVID-19 devalued your business?

If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business. But, to what degree does the pandemic impact on value? Should you discount or hold firm to pre COVID-19 performance on the basis that ‘we’re going to come out of it eventually’? Fair … Read more

Tip-offs & the ATO’s fraud warpath

We always knew that a Government scheme swiftly distributing cash during a crisis was going to come with equally swift compliance and review measures, particularly when eligibility was self-assessed. Two major Australian Taxation Office (ATO) initiatives are searching out fraud and schemes designed to take advantage of the Government’s Coronavirus Economic Response Package. Tip lines, … Read more

Increase in Set Rate for Home Office Expenses for Covid times

With the increased numbers of taxpayers working from home due to COVID-19, the ATO has released specific guidance softening the rules around claiming deductions for home office expenses, including a ‘shortcut’ set rate method. Firstly, the ATO has reduced the usual requirements to be ‘eligible’ to claim the expenses, which usually require a specific area … Read more

JobKeeper Tracking

Jobkeeper homework

We understand how hard it is to keep track of paying Employees, especially large teams, and working out who needs a top-up, who has or has not been paid enough to maintain JobKeeper eligibility. We’ve created this free Excel Template for you to track employees each fortnight simpler and easier for each fortnight. Part One … Read more

Complete Covid-19 Guide to Stimulus and support Measures as at 6th April 2020

Hang in there  We’ve designed this guide as a quick reference to the COVID-19 related tax and financial support that might be available to you. It’s quiet comprehensive, but care needs to be taken and you should consult your accountant when making decisions. The Government has flagged that more support is coming and we will keep … Read more

Seven Key Causes of Poor Cashflow – Cashflow in a Crisis

There has been no event like this ever before, and surviving in business with cash flow is going to be tough. We’re created this video to help business owners understand their current cash position and how they can make changes to extend out their War Chest to survive the current conditions. Cashflow is the process … Read more