Last Monday saw the Covid-19 pandemic move from a health crisis to an economic crisis for Australia. We are in unchartered waters with many jobs and businesses lost already. The…
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Advivo we are here to help! Advivo is a specialist advisory and accountancy firm focussed on taking our clients to the next level. This often means helping in addressing difficult…
Stimulus Measures for Businesses Amid the COVID-19 Crisis Further to our previous correspondence on the COVID-19 crisis, we’re pleased to be receiving many calls from clients looking to find solutions, take actions and identify opportunities to move forward. Remember ‘adapt…
Payroll Tax Relief for SMB’s and Large Businesses As part of the Queensland State Government’s response to the COVID-19 Crisis, they have provided for relief from Payroll Tax, as follows: Small…
Government Temporarily Reduces Super Minimum Drawdown The Government is temporarily reducing superannuation minimum drawdown requirements for account-based pensions and similar products by 50% for 2019–20 and 2020–21. This measure will...
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Temporary Early Superannuation Release Due to COVID-19 Crisis Individuals affected by the COVID-19/Coronavirus crisis may be able to access up to $10,000 of their superannuation in 2019-20 and a further $10,000 in 2020-21….
What is available and to whom? The Government has announced they will provide a guarantee of 50% to Small to Medium Enterprise (SME) lenders for new unsecured loans provided to small businesses (turnover up to $50 million). The…
More Financial Support For Individuals Affected By COVID-19 Subject to legislation passing, job seekers affected by the Coronavirus may be eligible for an increase in payments and also more assistance: Up to $550 temporary Coronavirus Supplement per fortnight Extended eligibility of first $750 Economic Support…
What is available and to whom? The Government has introduced measures available for businesses experiencing financial difficulty as a result of the COVID-19 outbreak. These include: Reversing any penalties and interest on tax liabilities that have been…
What is available and to whom? Quarterly tax instalment payers can vary their current and prior PAYG instalments on their activity statement for the March 2020 quarter. How do I get it? To access this option you must…
