ECONOMIC STIMULUS PACKAGE HIGHLIGHTS

To view the fact sheets regarding the stimulus package, please click the More Info buttons to be redirected.
Please contact our office if you have any questions regarding these support measures.



Instant Asset  Write-off

The instant asset write off will increase from $30,000 to $150,000 until 30 June 2020.

From 1 July 2020, the write off will reduce back to $1,000.



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One-off payment for Pensioners

Eligible pensioners and other income support recipients will receive a one-off payment of $750 from 31 March 2020.

Including recipients of the Age Pension, Family Tax Benefit, Youth Allowance and Newstart Allowance.


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Cash Flow for Employers

Businesses that employ staff between 1 Jan - 30 June 2020, will receive refunds of 50% on their BAS or IAS  for TAX WITHHELD for employees, payable from 28 April,  to a maximum of $25,000.

Employers that do not withhold tax will receive a minimum of $2,000.

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Depreciation

New assets* purchased until 30 June 2021, can claim a depreciation deduction of 50% of the asset cost in the year the purchase was made. Normal depreciation rules apply to the remaining 50% of the asset.

*excluding second-hand.

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Coronavirus impacted Regions

Assistance will be made available to help businesses in industries such as Tourism, Agriculture and Education identify alternative solutions for disruptions to operations caused by the Coronavirus.


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Wage Subsidy for Apprentice's

Businesses with apprentice's or trainee's can apply for a 50% subsidy for wages paid between 1 Jan - 30 Sep 2020.

A maximum of $21,000 per apprentice or trainee will be reimbursed for employers with fewer than 20 employees.

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Coronavirus impacting your business?

If you believe that your profit will be lower than anticipated due to the impacts of the Coronavirus, speak to your accountant or one of our partners about reducing your ATO Instalments; to increase cashflow in these uncertain times.

Appointments


If you are feeling unwell, please reschedule your appointments and help our offices stop the spread of the Coronavirus.
All documents can be uploaded to our client portal for electronic viewing and signing.


AUSTRALIAN TAXATION OFFICE


AUSKEY will soon to disabled. If you use the business portal, you will need to create a myGovID to continue to use the portal.
For more information on how to set up your myGovID click here.
Alternatively, contact our office and we can assist you with the set up.

CANCELLED

CANCELLED

Unfortunately, due to the Coronavirus, the South East Field Days has been cancelled on the advice of the Australian Government.


CANCELLED


MYOB INFORMATION NIGHT

- 23 Mar 2020, 7:00pm - 8:30pm

Our MYOB information night has been cancelled. Due to the Coronavirus, the event will be rescheduled at a later date.

CANCELLED