Thinking

How does your business thrive in the new normal?

How does your business thrive in the new normal?

The Coronavirus Small and Medium Enterprises (SME) Guarantee Scheme has been extended to a second phase. It will continue to support lenders’ ability to provide credit and ensure that SMEs benefit from low interest rates and is available to SMEs, including sole traders and not-for-profits, with a turnover of up to $50 million from 1 October 2020 until 30 June 2021.

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Coronavirus SME Guarantee Scheme – Phase 2

Coronavirus SME Guarantee Scheme – Phase 2

The Coronavirus Small and Medium Enterprises (SME) Guarantee Scheme has been extended to a second phase. It will continue to support lenders’ ability to provide credit and ensure that SMEs benefit from low interest rates and is available to SMEs, including sole traders and not-for-profits, with a turnover of up to $50 million from 1 October 2020 until 30 June 2021.

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Financial support for SMEs: Coronavirus SME Guarantee Scheme and extended, expanded Instant Asset Write-Off (IAWO) allowance

Financial support for SMEs: Coronavirus SME Guarantee Scheme and extended, expanded Instant Asset Write-Off (IAWO) allowance

The Australian Government has responded to the negative economic impacts of COVID-19 for SMEs in a number of ways, including the Coronavirus Small and Medium Enterprises (SME) Guarantee Scheme and a temporary tax incentive will be available to businesses with up to $5 billion in annual turnover, allowing an immediate write-off the full value of new eligible, depreciable assets of any value.

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Superannuation guarantee amnesty

Superannuation guarantee amnesty

A super guarantee amnesty was introduced in March 2020 by the Australian Government. Employers need to apply by 7 September 2020. If you’re affected by economic changes due to COVID-19, there is assistance available.

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Jobkeeper 2.0 – An overview of the changes

Jobkeeper 2.0 – An overview of the changes

The Australian Government has announced cuts to payments under the Jobkeeper scheme but has extended their life spans. Jobkeeper 1.0 will remain till 27 September 2020 and thereafter, Jobkeeper 2.0 will continue for a further six months till 28 March 2021.

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