Close to the end of the working day on Monday 30 March, the Federal Government announced the introduction of a new JobKeeper Payment to assist eligible employers (and self-employed individuals) who have been impacted by the Coronavirus pandemic to continue paying their workers. The following is a broad summary of the key aspects of the…
The following is a broad summary of the key aspects of the Federal Government’s stimulus package set out by the Treasury and the NTAA. 1. Income support for individuals 1.1 Introducing a new Coronavirus supplement The Government has introduced the payment of a new Coronavirus Supplement of $550 per fortnight to eligible individuals receiving certain…
The Victorian Government released details of a $1.7 billion support package for local businesses that was prepared in coordination with the Treasury over the weekend. The Government also indicated that the Victorian 2020-21 budget will be differed in line with the Federal Government budget due to the uncertainty caused by the virus pandemic. The package…
With the number of Coronavirus cases growing daily, companies are becoming increasingly concerned and fearful of the damaging consequences the outbreak will have with many businesses already experiencing cash flow difficulties. With the virus now worsening and directly impacting business here in Australia most businesses are experiencing a tightening in cashflow as supply chains collapse…
Every business, no matter the size, needs effective bookkeeping. However, if yours is a small or medium business, it’s a possibility that you are a newcomer. A constructive bookkeeping process will ensure that you stay at the top of your business finances, being able to make better gains and utilise your funds in the best…
The global economy has always been volatile, however modern day technologies and scientific advances have shortened the life cycles of various products and services, disrupting the traditional business model, and giving rise to more competition. In this scenario of constant competition and instability, it becomes all the more important to seek out fresh business opportunities…
The Christmas season is here! Festive celebrations, gifts and entertainment become common occurrences at the workplace during this time of year. However, most employers get a shock during the annual audit toward the end of the financial year, as they realise the overall cost of gifts and partying doubled up due to the Fringe Benefit…
With a staggering population of over 4.4 billion spread across over 50 countries, Asia has a distinctly diverse business landscape. Naturally, they are one of the most favoured consumer markets for international businesses. The diversified market and business environment are undoubtedly untapped goldmines; however, it has its own set of challenges. Its divergent nature makes…
Did you know small and medium sized enterprises (SMEs) have the lion’s share in Australia’s GDP? According to a report, small businesses form the backbone of the Australian economy with a colossal contribution of 57% to its annual GDP and 7 million job generation. Owing to favourable market conditions and increasing investments, the SME sector…
It is no secret that insufficient and poorly managed cash flow can cripple even the most profitable businesses. According to a new study from Wakefield Research, commissioned by Intuit Australia, small businesses in Australia have lost opportunities worth $5.8 billion due to inadequate cash flow. It is essential to take control of your cash flow to…
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