Anywhere Accounting

13/03/2020

Economic Stimulus Package for Small Business

Economic Stimulus Package for Small Business

The Morrison Government has released a Economic Stimulus Package due to the coronavirus pandemic which will assist small business owners with a number of measures:

This information is a guide at this stage as it needs to be passed by parliament:

Instant Asset write off

Instant Asset write off limit up from $30,000 net of GST to $150,000 net of GST and is set to run until 30 June 2021.

Cash Boost for employers with payroll

The government will also rollout a measure that will see businesses with turnover of less than $50 million receive payments of up to $25,000 tax free, with a minimum payment of $2,000.

These payments will be benchmarked to 50 per cent of the amount withheld on employees’ salary and wages, up to a maximum payment of $25,000.

Eligible businesses that pay salary and wages will receive a minimum payment of $2,000, even if they are not required to withhold tax

The measure and will be delivered by the ATO as a credit in the activity statement system from 28 April 2020 upon businesses lodging eligible upcoming activity statements.
Employers who lodge their BAS on a monthly basis will be eligible to receive the payment for the March 2020, April 2020, May 2020 and June 2020 lodgments, while quarterly lodgers will be eligible to receive the payment for the quarters ending March 2020 and June 2020.

The measures will have a start date from 12 March but will be subject to the passage of legislation. Shadow treasurer Jim Chalmers has since said that Labor “will not stand in the way” of the government’s measures.

The ATO has since followed up with a number of administrative relief measures to help businesses over the following months.

13/03/2020

Coronavirus and Fairwork for Small Business

Fairwork Information re Coronavirus and your staff regarding workplace laws and health and safety in the workplace.

This website page from Fairwork has important information regarding your staff and the Coronavirus.

Information and advice about Australia’s workplace rights and rules.

15/12/2018

New Cyber Security Grant for Small Business

Grants to small business (with fewer than 19 employees)
for up to 50% of the cost of a micro,standard certified small business check,

Maximum Grant $2,100

Open until 30 June.2020

Provides businesses with 19 or fewer employees with a grant of up to $2,100 for a certified small business cyber security health check to determine business risk and areas that need attention.

05/12/2018

Single Touch Payroll for all businesses commences 1st July 2019. We will provide information and assistance to all our clients.

What is single touch payroll?

When payroll is processed in Xero it needs to be filed with the ATO each time. The ATO will be checking that super obligations are being met.

14/09/2018

Any new business, there is an easier way to register through Aust Govt Business Registration Service.

Where you can register for an ABN along with a business name, register for GST and PAYGW with the ATO and Auskey

30/08/2017

Exciting News!!!!
My practice is now a GOLD Xero Partner!!!
Thank you to all my valued clients and my fantastic staff!

04/03/2017

Hi all
Just found this information relating to a Govt Rebate for small business:

Government Rebate to improve your safety!
The NSW Government provides a small business rebate up to $500 to small business owners who buy and install eligible safety items to address a safety problem in their workplace. Recently a client ensured the safety of their team by painting the garage floor with a non-slip surface taking advantage of the rebate. Before you apply, you must attend an eligible SafeWork NSW safety workshop or event, which are easy and free. Click here for more information.