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 charged on or after 23 January 2020 Payment deferrals of up to 6 months for fringe benefits tax assessments, income tax assessments, business activity statements and excise Quarterly tax instalment payers…
What is available and to whom? If you have been affected by the COVID19 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 vary the number of your PAYG instalments on your March activity statement before the instalment is due. Taxpayers who vary their…
Support now increased to a minimum of $20k and up to a maximum of $100k for employers. What is available and to whom? Small and medium sized business with annual turnover under $50 million that employ workers will now be eligible for a payment equal to 100% of their salary and wages withheld (the PAYGW amounts) for the period 1 January to 30 June 2020 on…
Roadmap of the Government’s Current Stimulus Packages Support for Individuals and Households Income Support for individuals – Coronavirus supplement Payments to support households Temporary early release of superannuation Temporaririly reducing superannuation minimum drawdown rates Reducing social security deeming rates Support for Businesses Boosting Cash Flow for Employers Temporary relief for financially distressed businesses Increasing the…
Here’s what Advivo is doing to help our clients and friends through these turbulent times and we urge you to please contact us sooner rather than later if you would like any assistance with the below. Business Continuity Planning: Assistance with access to Government stimulus measures Verification of your own plan or creating one from scratch Assistance with determining and implementing business strategy …
What the Government’s Corona/COVID-19 Stimulus Package Means For You and Your Business The Government has announced the details of a $17.6b stimulus package to support businesses through the COVID-19 crisis. Many of Advivo’s clients and friends will be eligible for parts of this stimulus package and the Advivo team are available and able to help…
Passion For Family Businesses At Advivo, we are passionate about family businesses. Our background is working in family businesses as are most of our clients, which is why it is one of our specialties. Our August event is almost here (22nd August) and the subject is “Unlocking Your Family Business Potential”. This subject should be…
Advivo Explains The Top Tips for Choosing an Accountant So, you’ve decided it’s time to choose a new accountant. It’s never an easy decision, especially if you have been with your current accountant for some time. Making the switch can have an impact on the long-term success of your business and is not a decision…
Northey Street City Farm is our July 2019 Charity of the Month Recipient The votes are in for the charity of the Month! The July donation recipient is Northey Street City Farm. As part of our commitment to our local community, Advivo has donated $50 this month to Northey Street City Farm. Northey Street City…
Happy New ( financial ) Year!!!!! You have heard me say it a thousand times, I know I have a man crush on Steven Covey, but it’s time to revisit that plan again. It’s the start of a new financial year, so ask yourself “What do we want to achieve this year?” Remember the rule…
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