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120% skills training and technology costs deduction

An update on the 120% deduction for skills training and technology costs

You may remember us posting about the 120% skills training and technology costs deduction in May as it was announced. (for a recap on that post, find it here). The Government has reinvigorated the 120% skills training and technology costs…
Small Business Specialist Advice Pathways Program

Small Business Specialist Advice Pathways Program

We sent out an email about a new grant and we said that there were limited applications available. Well, it has been exhausted and they are now taking waitlists. To quickly sum up: The Victorian government announced a new $2000 grant for…

Rent relief extended

What do we know? The Victorian Government have announced that the business rent relief previously closing on 15th January 2022, will be extended further until 15th March 2022. This is great news for businesses struggling with omicron cases. The…
Are RAT tests tax deductible
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Are RAT tests tax deductible?

Are Rapid Antigen Tests (RAT) tax deductible? Well, a recent announcement from the government says yes. Let's go through it all. The government announced on 7 February 2022 that they will ensure COVID-19 testing expenses are tax…

How to get your business back on track after lockdown

As you well know, the COVID-19 pandemic is not just a public health issue, it’s also caused lockdowns and resulting financial worries on a global scale. In Melbourne alone, we've had 6 lockdowns over 2 years, tipping us over 200 days in…

Covid-19 support to roll back

COVID-19 support will roll back as states and territories reach vaccination targets. The National Plan, the road map out of COVID-19, does more than provide greater freedoms at 70% and 80% full vaccination rates, it withdraws the steady stream…
Construction grant
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Construction support

On the 2nd October the Victoria Government announced they would support construction businesses with cash grants for the 2 week closure of the construction industry. Applications are now open. If you are a managed business client of ours,…
October support for businesses
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Victorian business support for October

The Victorian Government has announced additional funding to help support businesses for the next 6 weeks up until a point where we should be at 80% double vaccination rate.In this article we have outlined the following:   1. Business…

Commercial Landlord Hardship Fund 3

*update* this has been extended until March 15 2022.* We have been keeping an eye out for more details about the governments 'Commercial Landlord Hardship Fund' that they announced a little while back. At the moment landlords are encouraged…
covid vaccine sticker

Freedoms for the fully vaccinated and what it means to business

Australia’s two largest states and the ACT are in lockdown as the Delta strain of COVID-19 takes its toll while others are standing firm on a policy of eradication. The result is a country at a policy impasse and divided by border restrictions. And,…

Covid Hardship Fund & more support

The Victorian Government have announced some additional assistance on 4th September. This covers a 4 week period, which ends on 30th September 2021 as we drive towards our vaccination targets. The majority of payments are automatic top-ups…

Digital Adaptation Program extended

The Victorian Government's Small Business Digital Adaptation Program program provides $1200 rebates so small businesses can access a range of digital business tools. The Victorian Government has partnered with 14 suppliers to help you build…

August government support (Victoria)

Melbourne is back in lockdown, so we thought we'd put up an update of what is available for support: COVID-19 Disaster Payments (To apply for this, you must to do so in your MyGov account) Eligible workers across the state who lose hours…
rent relief for businesses

Rent relief on the way for commercial tenants

On 3rd August the Andrews Labor Government issued legislation to make it a requirement for landlords to help eligible businesses that have endured a serious trading downturn due to no fault of their own.   Support for tenants *update*  You…
More support for businesses

More support for Vic businesses

The Victorian government have announced some new supports to help businesses most affected by the current restrictions.We're going to specifically talk about these support measures: The Covid-19 Disaster Payment An additional $2,800…

July Covid support for businesses

The NSW Government has announced new grants of up to $10,000 for businesses adversely impacted by the recent COVID-19 lockdowns. Eligibility for the grant is streamed into general business, and hospitality and tourism.

Business Costs Assistance Program Round 2

This evening the Victorian Government finally announced the eligibility criteria for the latest business grant. This is to help with the most recent lockdown in May–June 2021. Eligible businesses with an annual payroll of up to $10 million…

COVID-19 Vaccinations and the Workplace

The first COVID-19 vaccination in Australia rolled out on 21 February 2021 preceded by a wave of protests. With the rollout, comes a thorny question for employers about individual rights, workplace health and safety, and vaccination enforcement.  The…
circuit breaker grants

Circuit breaker grant

The Victorian Government recently announced funding to certain businesses that were affected with the recent 5 day snap lockdown. There are 4 initiatives to help a broad number of industries, but the one we'd like to bring to your…
jobkeeper 2021 eligibility

The Final Stage Of JobKeeper And How To Access It

The impact of COVID-19 has been felt very differently from region to region. Fortunes vary wildly between business operators subject to ongoing lockdowns and trading impediments to those benefiting from the “new normal”. For those…
JobMaker

JobMaker rules & enrolment

WHAT IS JOBMAKER? JobMaker is a credit available to eligible businesses and non-profit entities that create new jobs (not if you are merely replacing someone who left). The hiring credit is available for jobs created from 7 October 2020…

How to sign up to Xero and get the Vic digital rebate

The newest Victorian rebate is to help small businesses get online, sell online, or do more online. This includes things like getting a website, and also signing up to Xero which is great. Xero have explained how to go about doing…

2021 Risks & Opportunities

With the borders between the State and Territories all but open and 2021 in sight, there is a hunger for a return to ‘normal’. The recent Westpac-Melbourne Institute Index of Consumer Sentiment articulates this desire to ‘get on with things’;…
jobmaker information

JobMaker Hiring Credits: What We Know So Far

JobMaker has officially passed Parliament. Here is what has been announced so far: What is JobMaker? JobMaker is a credit available to eligible businesses for hiring additional employees (not if you are merely replacing someone who…
business tax loss

Refunds for Tax Losses

If your company has made a loss, you may be able to claim a tax refund for tax previously paid on profits. In the 2020–21 Federal Budget, the Government announced that businesses with turnover under $5bn* will be able to offset any…
invest in your business
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Tax deductions for investing in your business

Stimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses with turnover under $5bn* to immediately deduct the cost of new depreciable assets and the…
FBT rules working from home

FBT changes under COVID: What are the rules?

The COVID-19 pandemic is raising some interesting questions for small business employers in relation to their Fringe Benefit Tax (FBT) liabilities. With many employees working from home, common employee benefits are often not being supplied,…

Opportunities amid the Covid-19 disruption

COVID-19 is resulting in significant disruption to well-established business paradigms, impacting businesses, sectors and stocks across the board. However as Albert Einstein once said “in the middle of difficulty lies opportunity”. That…

Preventing a Tsunami of Insolvencies

The Government has stepped in to prevent a wave of insolvencies when the COVID-19 support measures run their course in December 2020. Temporary insolvency and bankruptcy protections are in place until 31 December 2020 to enable businesses to…
JobKeeper 2.0

JobKeeper from 28th September

The first tranche of JobKeeper ended on 27 September 2020. Those needing further support will need to reassess their eligibility and prove an actual decline in turnover.  To receive JobKeeper from 28 September 2020, eligible employers…
3rd round of business support fund grants

3rd round of Victorian grants

The Victorian Government has announced a third round of the Business Support Fund to provide direct financial support to businesses impacted by restrictions in Victoria. The amount of the grant is between $10,000 and $20,000 depending on the…
Business Survival & Adaptation Package

More support for Victorian Businesses

Over 2 days, the Victorian Government has announced two new support packages delivering over $3 billion in “cash grants, tax relief and cashflow support." There are almost no details on the packages as yet – just the announcements. We…
covid devalued your business?

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…
Forecasting during a pandemic

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,…
Covid support states and territories

Covid-19 support – State based

In addition to general waivers, reductions or rebates on some Government licensing and fees, each State and Territory has some form of support accessible to certain businesses impacted by COVID-19. Australian Capital Territory Support Description Closes Rate…
JobKeeper 2.0

JobKeeper 2.0

The first tranche of JobKeeper ends on 27 September 2020. Those needing further support will need to reassess their eligibility and prove an actual decline in turnover. To receive JobKeeper from 28 September 2020, eligible employers need…

Stage 4 lockdown – support for business

Additional business support has been announced to help eligible businesses with the latest restrictions. Weren't previously eligible for JobKeeper? Although you may not have qualified for JobKeeper originally, stage 4 lockdown may have…
victoria business support fund

Business Support Fund Expansion

This article is an August 2020 update, for the latest BSFe information please head back to our blog page.   Businesses which have already received a $5,000 BSFe grant, or have applied for one, will not need to re-apply. Successful…
jobseeker changes

JobSeeker changes

On 21 July 2020, The Government announced changes the COVID-19 income support measures. We explore the details. Coronavirus supplement The Coronavirus supplement will continue, albeit on a reduced rate of $250 per fortnight (from $550), from…
Business Support Fund

Victorian Business Support Fund

The Victorian Government has announced that Stage 3 ‘Stay at Home’ will be in reinstated across metropolitan Melbourne and Mitchell Shire from 11:59 on 8 July 2020 to help slow the spread of coronavirus (COVID-19) in Victoria. These restrictions…
ATO targeting covid fraud

ATO targeting Covid-19 fraud

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…

Leadership through challenging times

As all leaders can attest to, no leadership role is smooth sailing. There will inevitably be the occasional storm coming over the horizon, with different challenges you need to respond to. Sometimes these challenges will be unprecedented,…
home builder grant

HomeBuilder: What is it and how do you access it?

The Government has announced grants of $25,000 to encourage people to build a new home or substantially renovate their existing home. The HomeBuilder scheme targets the residential construction market by providing tax-free grants…

Could your business do with a cashflow boost?

The two cash flow boosts provided by the federal government to help businesses deal with the COVID-19 emergency have largely been overshadowed by the JobKeeper program, but they could provide valuable financial support to organisations that…
ATO jobkeeper audit

The ATO’s JobKeeper audit targets

“…while it is all very well to talk of 'turning points', one can surely only recognise such moments in retrospect.” Kazuo Ishiguro, The Remains of the Day The JobKeeper subsidy has progressed beyond the rush for eligibility and entered…
working from home

Calculating your working from home deductions

With many people now working from home because of COVID-19, some of the expenses your employer normally pays – such as electricity, heating and cooling – are now coming out of your wallet. Although some employers may provide a daily…

JobKeeper is open!

JobKeeper registrations are now open. We have created an updated video which explains all the changes that have come through in the last few weeks since the JobKeeper payment was announced. This can be found below. Our fee details…

Instant Asset Write Off explained

*UPDATE* (November 2020) A new article goes over the updates to Instant Asset Write-Off over here. *UPDATE* (June 2020) $150K Instant Asset Write-Off has been extended until 30th December 2020. Read Josh Frydenberg's media release…
working remotely

5 tips for working remotely (productively)

In the current climate, many businesses are needing to make changes to accommodate staff working remotely. If you are able to work from home the ensuing changes to your work habits can be challenging to negotiate, however there are things you…

Covid-19 FAQ’s

We’ve had alot of questions about assistance for businesses affected by Covid-19, so we are starting to compile them.

2nd Stimulus Package

23/03/2020 2nd Coronavirus Stimulus Package The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow…

Covid-19 assistance

A constantly updated blog article with Covid-19 assistance measures and support for businesses.

coronavirus-stimulus-package-explained

CORONAVIRUS STIMULUS PACKAGE: A VIDEO FROM SHAUN Shaun Farrugia has put together a video to explain the Government’s proposed Coronavirus Stimulus Package for business owners. Today I’m going to give you some information…
coronavirus stimulus package for business

The Stimulus Package: What you need to know

12/03/2020 The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus. The yet to be legislated four part package focuses on business investment, sustaining employers…
empty supermarket shelf

Surviving a crisis: Coronavirus and beyond

10/03/2020 Empty restaurants and retail stores were one of the first signs of the devastating impact the coronavirus on Australian businesses.  Within a few months, the virus, now called COVID-19, has gone from being a largely unknown…