Wellbeing Budget 2020: Rebuilding Together Budget 2020 formally establishes the $50 million Covid-19 Response and Recovery Fund. Nothing that $13.9 million has already been committed, Minister Robertson has announced a further $15.9 million in funding, which includes: A targeted extension of the Wage Subsidy Scheme The extension is available for a further eight-week period (ie …
Business Recovery Planning
During times of adversity we are often forced to think outside the box - to reinvent the way we work or behave, We see four main opportunities for you to reinvent your business. The need to innovate The first opportunity to reinvent is to innovate. The Oxford Dictionary defines innovation as 'the introduction of new …
Covid-19 Government & Banks Support Update
Just announced today: Government to provide $100,000 interest-free loans to businesses The Government will provide interest-free loans of up to $100,000 to small businesses grappling with the impacts of Covid-19, after banks failed to meet the Government's expectations. The loans are available for a year and will be offered to businesses with 50 or fewer …
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The value of cashflow forecasting during a crisis
During the ongoing coronavirus crisis, many sectors are seeing income either disappear completely or drop to dangerous levels. To be able to navigate the future path of your cashflow, you need to start forecasting – so you can map out your financial position over the coming months and can take the appropriate action to safeguard …
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Eight C’s to help your business during Covid-19
The information overload is real. The ramifications of Covid-19 on businesses are being felt and speculated upon every minute of each day - probably leaving you feeling like a rabbit caught in the headlights. Here’s eight simple words also beginning with C to help clarify your vision. 1. Cash.It’s the oxygen for your business, do …
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Business Continuity and Recovery Planning
These are unprecedented times for businesses and their people. It is the time that businesses should be reviewing their business plans and forecasts to ensure they can get through this stormy period we are currently in. Not only should business plans be reviewed but business continuity planning should be undertaken to develop a plan to …
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Company Car Expenses
A new Option for Claiming Company Car Expenses Small business owners typically have one vehicle which they use for both business and personal use. A common question is whether their company should own their vehicle. Until recently, company ownership of your car meant the company claiming 100% of the vehicle costs but paying Fringe Benefit …
Business Expenses to Claim
What we Can and Cannot claim Business operators regularly make decisions on business expenses based on false assumptions and misunderstandings, resulting in a drastically different tax outcome than they expect. Alot of people mistakenly think that buying a new vehicle or item of machinery will reduce their taxable profit by the amount they spend on …
Home office expenses – what to claim
If you have a home office for your business, you should be able to claim some of the running costs. It’s important to be aware of what you can and can’t claim, and the record-keeping involved in making a claim. How does it work? In order to claim, the space you use must be used …
Claiming expenses when away on business
In general, when you’re away from home you can claim for: - flights - taxis, or mileage if you use your own car for business travel - accommodation - meals and snacks. Accommodation If you’re attending a work-related meeting, conference or training course that requires an overnight stay, you can claim the cost of accommodation, …
