JobKeeper Frequently Asked Questions

The below list provides answers to some of the frequently asked questions associated with the JobKeeper scheme. Please don’t hesitate to call our office If you require further clarification or have any other questions. Do businesses have to meet the decline in turnover test on an ongoing basis?The answer is No. Whilst a business must…

JobKeeper Payment Details

The Federal Government passed a package of Bills through both Houses of Parliament on 8 April 2020 (received Royal Assent on 9 April 2020), to give effect to (amongst other things) the JobKeeper Scheme. Subsequent to this, a Legislative Instrument was released by the Treasurer containing the detailed rules of the JobKeeper Payment. See below…

Coronavirus & Mental Health

We hope that everyone is staying healthy and safe during this difficult and uncertain time. The impact of COVID-19 on small businesses is devastating and the toll it is taking on people’s mental health is serious. It is important that mental health remains a priority as we all deal with the impacts and increased stresses of…

JobKeeper Payment

The Australian Government has announced that wage subsidies will be paid to businesses significantly impacted by the Coronavirus. The legislation/law is being drafted and needs to pass Parliament. No further updates/guidance is available at this time. The Government will pay businesses $1,500 per fortnight per employee for up to 6 months. The aim of the…

Second Economic Stimulus Package

The Government has announced a second economic stimulus package package detailing further support available to assist businesses throughout the Coronavirus outbreak. The following measures are in addition to those outlined in the first economic stimulus and we have summarised them for you as follows: Support for Individuals Support for Retirees Support for Businesses Please note…

Free Hubdoc for Xero Users

Xero has advised us that Hubdoc is now included in most user plans at no additional cost. This is a great program to use to reduce data entry and keep all your invoices in the one place. Simply upload photos of your invoices to Hubdoc and the data will be automatically extracted and ready to…

QLD Government Announces Interest Free Loans

The Queensland Government has just announced further measures to help local business keep Queenslanders in jobs amid the Coronavirus crisis. Jobs Support Loans Businesses can access loans of up to $250,000 with an initial 12-month interest free period to assist with maintaining operations and retaining staff. The Queensland Rural and Industry Development Authority is currently…

ATO Support for Businesses – COVID-19

To assist Australians experiencing financial difficulty as a result of the Coronavirus outbreak, the Australian Taxation Office (ATO) is implementing a number of administrative concessions for businesses. These measures include: The option to defer some income tax and activity statement payments by up to four months Allowing businesses that lodge quarterly activity statements to lodge…

Economic Stimulus Package

Today the Prime Minister has announced a $17.6 billion economic plan to support the Australian economy as we deal with the impacts of the Coronavirus. The focus of this stimulus package is to help small and medium businesses stay in business and keep Australians in jobs. Small businesses will benefit from the stimulus with the…