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Mar 31, 2020 / News
Can our Corporate Bookkeepers support your business during COVID-19?
We understand the challenges facing businesses right now and believe our corporate bookkeeping team are well placed to provide vital assistance during this difficult period. Read more
Mar 31, 2020 / News
Mark III: Government to subsidise businesses’ wage costs
The government announced a third round of measures to support businesses affected by COVID-19 to maintain their employees. It’s called the JobKeeper Payment – a direct payment of $1,500 per fortnight, per-eligible-employee, to qualifying businesses and not-for-profits to subsidise the cost of continuing to employ workers. It’s also available for the self-employed. Read more
Mar 25, 2020 / News
Banks announce Small Business Relief Package
Following the RBA's announcement to cut the cash rate to a record 0.25%, and the subsequent announcement to set up a $90 billion term funding facility for banks to use to support SME clients, the Australian Banking Association has announced a small business relief package from Australia’s banks. Read more
Mar 24, 2020 / News
AASB approves removal of Special Purpose Financial Statements
From 1 July 2021, for-profit entities preparing financial statements in accordance with the Corporations Act 2001, other legislation, their constituting documents or other agreements will not be permitted to prepare Special Purpose Financial Statements (“SPFS”). At the same time, the existing Tier 2 Reduced Disclosure Regime (“RDR”) will be replaced by new Tier 2 disclosure requirements. Read more
Mar 24, 2020 / News
COVID-19 and Safe Harbour Rules for Directors and Business Owners
As a result of the safe harbour rules, a director will not be subject to the insolvent trading laws under the Corporations Act 2001 (and therefore not held personally liable for the debts of the business incurred past a point of potential insolvency) where they are implementing a plan of action to restructure the affairs of the company that complies with the safe harbour rules. Read more
Mar 23, 2020 / News
Government stimulus package Mark II – Big, bold… and concisely summarised
Economists call it “helicopter money” – governments sending money directly to businesses and people to stave off a recession or minimise one. And yesterday’s announcement is a Black Hawk next to Mark I’s gyrocopter. Read more
Mar 20, 2020 / News
Banks Announce Small Business Relief Package
Following the RBA's announcement to cut the cash rate to a record 0.25%, and the subsequent announcement to set up a $90 billion term funding facility for banks to use to support SME clients, the Australian Banking Association has today announced it will defer loan repayments for six months for those SME's affected by Coronavirus. Read more
Mar 18, 2020 / News
FBT Year End Planner - Ideas and possibilities for your business
Snapshot for the FBT year ending 31 March 2020 Read more
Mar 16, 2020 / News
ATO’s administrative concessions for businesses affected by coronavirus
Following the government’s economic stimulus package released last week, the ATO has announced a series of administrative measures for businesses experiencing financial difficulty as a result of the coronavirus. Read more
Mar 12, 2020 / News
Economic stimulus package: key points for your business
The government announced a package of temporary measures worth $17.6 billion to support the Australian economy in the wake of the impact of the coronavirus. The measures mostly target small and medium-sized businesses, and come in four parts. Whilst they apply either from now or retrospectively from 1 January 2020, the measures will require legislative change. Read more
