COVID-19 Survival Assistance Very Welcome
Accountant's Minute 227
Greetings – we hope you're staying safe and are able to assist your clients with the planning and implementation of their COVID-19 survival strategies.
The Australian government, through the stimulus package number 3 which was unanimously passed by Parliament last week, has definitely implemented a number of significant strategies to assist small and medium-sized enterprises with their struggles with COVID-19.
The highlights of last week were:
- JobKeeper Payment Scheme passed and commenced to operate from 30th March 2020.
- Commercial tenants rental waivers introduced for businesses which qualify for the “JobKeeper Status”.
- About $200 billion has been directly allocated by the government to assist businesses with turnovers under $50 million including:
- Boosting cashflow for employers – tax-free boost of up to $100,000 to help pay wages.
- Coronavirus supplement – sole traders and self-employed persons are eligible to apply.
- Access to superannuation is available for businesses which qualify for the coronavirus supplement.
- Coronavirus SME Guarantee Scheme – Australian government 50% guarantee on loans utilising funds that were made available to the banks ($90 billion) by the Reserve Bank for loans to SMEs.
- JobKeeper Payment Scheme rules released by Australian Taxation Office.
To assist accountants, business advisors and bookkeepers to advise small businesses and medium-sized enterprises on a broader range of subjects then the traditional compliance and taxation work ESS BIZTOOLS has released the "COVID-19 Survival Plan".
In conjunction with 10 of our affiliates, who have significant expertise in advising accountants and/or small businesses and medium-sized enterprises, ESS BIZTOOLS is launching this Friday 17th April at 12-noon AEST the “COVID-19 Survival Panel”, a weekly information webinar to answer questions and to discuss issues relevant to the challenges facing accountants, business advisors and bookkeepers in responding to a wider range of requests from clients than what you would normally receive.
The first “COVID-19 Survival Panel” features:
- Andrew Geddes, a well-known public company chairperson and accounting industry consultant who will comment on the leadership challenge facing accountants as professional accountants respond to a wide range of business issues confronting their clients; and
- Jordan Lowry, Managing Director, Blackstone Business Services a workplace culture, employee behaviours, human resources, workplace health and safety strategies advisory organisation who will comment on HR issues including an overview of the services that Blackstone can provide to accountants on technical issues relating to client’s team members in an endeavour to assist those clients to survive COVID-19.
You can register for this complimentary webinar by clicking here.
I would like to invite you to visit the ESS BIZTOOLS' website - Survival in Difficult Times - Learn More where you'll be able to view a full summary of the “Survival in Difficult Times Product Package”, including the specific material that we have produced relative to COVID-19 Coronavirus that you can subscribe to for $92 per month (incl GST) for 12 months or take advantage of a discounted upfront cash payment subscription of $990 (incl GST).
If you have any questions on any aspects of the assistance that ESS BIZTOOLS' products can provide for you to use to assist clients navigate through the “COVID-19 Survival Challenges”, please don't hesitate to contact us:
We have prepared a more detailed summary of the key issues relative to the assistance provided via the stimulus packages introduced by the Australian government in the “Want To Know More”. Please click on the image below.
I invite you to view the Accountants' Minute video which gives you more details on the government’s assistance and the “COVID-19 Survival Plan” which ESS BIZTOOLS has produced.
Stay safe. If you want to have a discussion, please don’t hesitate to contact us.
If you have a friend or colleague who you think might find this article interesting, please forward to them.
Have a great day!
