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Covid-19
The Victorian State Government Small Business COVID hardship fund offers $10,000 to eligible and medium businesses, including employing and non employing businesses and had been introduced to allow more businesses who had not previously received some of the Victorian Government grant programs announced from the 27 May 2021. Applications are open from Thursday 12 August 2021 until program funds are exhausted or 11:59pm on Friday 10 September 2021, whichever is earlier.
Super Retail Group - owner of the Supercheap Auto, Rebel, BCF and Macpac brands - handed back $1.7 million in JobKeeper payments in January after releasing a trading update showing sales growth of 23% to December 2020. Toyota announced that it will return $18 million in JobKeeper payments after a record fourth quarter. And, Domino’s Pizza has also handed back $792,000 of JobKeeper payments.
The Government has announced an extension of the JobKeeper scheme to the 28th of March 2021. There will be a new test for eligibility and payment rates will reduce.
To understand the value of a business, the pandemic necessitates a depth of investigation beyond the norm. You cannot simply ignore the pandemic and rely on pre-pandemic performance and financials, even if you are enthusiastic about the future
Businesses fail (or fail to thrive) for a myriad of reasons, but the precursor is often a failure to understand what is occurring and what to monitor. Strategically, managers need to be on top of their numbers to identify and manage problems before they get out of hand. If you do not know what the key drivers of your business are - the things that make the difference between doing well and going under - then it’s time to find out.
Due to Stage 4 restrictions, we will all be working from home as of tomorrow - Thursday 6 August 2020.
Please rest assured we can still be contacted on our normal office number and email addresses. If you are unsure of who to email please email info@lmp.com.au or contact your regular team member.
Two major Australian Taxation Office (ATO) initiatives are searching out fraud and schemes designed to take advantage of the Government’s Coronavirus Economic Response Package.
The Victorian Government has launched the $500 million Business Support Fund to help small businesses survive the impacts of the coronavirus (COVID-19) pandemic and keep people in work.
During these times where you may be working from home more than usual (either by choice or not), we want to make you aware of some expenses you should keep track of, that you may be able to claim at tax time.
The following is a broad summary of the key aspects of the Federal Government’s stimulus package in response to the Coronavirus, as recently announced and enacted.
The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus.
The yet to be legislated four part package focuses on business investment, sustaining employers and driving cash into the economy.
