Major Change to Bankruptcy Laws: What Does This Mean For Your Business?

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It has been extremely difficult for many to keep their businesses afloat amid the COVID-19 crisis. Throwing a lifeline to small businesses, the government has overhauled bankruptcy laws to save thousands of jobs and companies on the verge of collapse. What Are The Changes? From the current ‘creditor-in-possession’ regime, Australia’s insolvency laws shifted to a ‘debtor-in-possession system’. Entities with liabilities below $1 million will be able to access the scheme.…  Read more

COVID-19 Business Update – 30 September 2020

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Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. $800m Digital Business Plan to Drive Economic Recovery The Australian Government has announced a Digital Business plan to enable businesses to take advantage of digital technologies to grow their businesses and create jobs in the wake of COVID-19. PM Scott Morrison and Treasurer Josh Frydenberg announced the…  Read more

Why You Need a COVID-19 Financial Plan

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Countries in recession, unemployment rates rising, multiple economic indicators at their all-time lows, increased market volatility– these are just some of the economic impacts we’re seeing as a result of the pandemic. As we continue to battle the COVID-19 crisis, it is important for everyone, especially those who have had their income stream affected, to keep their finances in check and proactively find ways to navigate to recovery. By creating…  Read more

Supporting Apprentices and Trainees wage subsidy extended

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The Australian Government has extended and expanded the Supporting Apprentices and Trainees wage subsidy, to include medium-sized businesses who had an eligible apprentice in place on 1 July 2020. This may be of particular interest to employers who are not eligible for the JobKeeper extension. What is the Supporting Apprentices and Trainees wage subsidy? The Supporting Apprentices and Trainees wage subsidy is part of the Australian Government’s COVID-19 Economic Response.…  Read more

COVID-19 Business Update – 23 September 2020

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Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. Queensland Border Zone Extensions from October 1st Queensland’s border zone will be extended to 5 local government areas in NSW starting October 1st. These areas include: Byron, Ballina, Lismore, Richmond Valley and Glen Innes councils. South Australia-NSW Borders to Open at Midnight South Australia will reopen its…  Read more

COVID-19 Business Update – 16 September 2020

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Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. Melbourne’s Roadmap to ‘COVID Normal’ A staged plan to ease Melbourne out of tight COVID-19 restrictions has been released. Stage 4 restrictions will remain in place for another two weeks with some minor changes, and will start to ease further from 28 September. The final step should…  Read more

COVID-19 Business Update – 9 September 2020

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Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. Australia To Extend Bankruptcy Protection Rules Until End of 2020 Australia will extend its temporary insolvency and bankruptcy protection rules until the end of this year, providing businesses a lifeline to recover from the impacts of COVID-19. The rules, which were first introduced in March and originally…  Read more

COVID-19 Business Update – 2 September 2020

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Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. COVID-19 Cases in Victoria Fall to Seven-Week Low Victoria, the epicentre of Australia’s second wave of COVID-19 infections, has reported a significant drop in the number of new cases, reaching a near two-month low. This is good news as the total lockdown in Melbourne is set to…  Read more

JobKeeper Extension Bill

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The JobKeeper Payments Amendment Bill was introduced in the House of Representatives on Wednesday 26th August. We appreciate your patience as we process these changes This Bill introduces the extension of the JobKeeper scheme that was announced last month. The proposed rate changes will see the current $1500 per fortnight payment drop to $1200 for full time workers. and $750 for those working less than 20 hours per week from…  Read more

COVID-19 Business Update – 26 August 2020

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Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. Victoria’s State of Emergency extended for 18 months Victorian Premier Daniel Andrews has announced the State of Emergency will be in place for 18 months and lockdown restrictions will be extended beyond September. Businesses in Victoria that are struggling can access the state’s Business Support Package. Get…  Read more

Pandemic Preparedness Tips for Your Business

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The COVID-19 pandemic has caught most of us off guard. Who would’ve thought that the world would spend the year battling a virus? This unprecedented global crisis is a reminder that these business threats are very real and acts as a wake-up call for business leaders. Even if the scenario may seem far-fetched, it pays to prepare for the worst. When a pandemic hits, businesses play a crucial role in…  Read more

COVID-19 Business Update – 19 August 2020

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Welcome back to our Weekly Digest. We hope you and your family are doing well. Read on for this week’s update. Cashflow Boost and JobKeeper Audits The ATO has announced that it will be actively conducting audits on the cashflow boost JobKeeper scheme. If you receive contact from the ATO to review your JobKeeper eligibility, you will be required to provide documentation as proof that you meet the eligibility criteria.…  Read more

Adjustments to Employee Eligibility for JobKeeper

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The ATO has released further guidance on the recent changes to the JobKeeper scheme in relation to the timing of an eligible employee. From JobKeeper fortnights commencing 3rd August, the key date for eligible employees has changed to 1 July. In the past, an employee had to be on the books as of the 1st of March in order to be eligible for the JobKeeper wage subsidy. This change is…  Read more

How to grow your network without networking events

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Networking can be a key way to keep your business growing. Regardless of your industry or business size, it is hard to ignore the benefits of forming professional networks for potential partnerships, expanding your client base, and scaling up. However, while we are all constantly reminded about the importance of networking, reaching out to grow your network isn’t the same now thanks to the COVID-19 pandemic. Social restrictions to prevent…  Read more

A Guide to Business Recovery in a pandemic world

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As you know, the COVID-19 pandemic is not just a public health issue, it’s also caused lockdowns and financial worries on a global scale. Small businesses are not strangers to the impacts of the pandemic. In a survey by the International Trade Centre (ITC) among 1,200 businesses in 109 countries between 20 April and 4 May, the pandemic has strongly affected 60% of the businesses. The results of the survey…  Read more

Preparing for the end of JobKeeper

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Since the government announced the $70-billion JobKeeper program to support businesses and their employees during the COVID-19 pandemic, many small- and medium-sized businesses and non-profit organisations heavily relied on this scheme to stay afloat. According to a recent survey by the Australian Institute of Company Directors on the impact of COVID-19, over 40% of the respondents reported reliance on JobKeeper payments. 47% of SMEs indicated that the JobKeeper Scheme had…  Read more

COVID-19 Business Update – 12 August 2020

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Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. Australia Borders Remain Shut Prime Minister Scott Morrison announced that international border closures were unlikely to lift before Christmas, as the country reported a record single-day surge in COVID-19 deaths on Monday. However, drastic lockdown measures in Melbourne appear to be working, as the rate of daily…  Read more

More JobKeeper changes expected

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7 August 2020 You may have heard the news that Treasurer Josh Frydenberg has announced the government will expand the JobKeeper scheme again. This comes a few weeks after announcements of JobKeeper 2.0 to start at the end of September. Below is a roundup of what has been announced and what we expect to see, but please note that this is not legislated yet and is still subject to change.…  Read more

COVID-19 Business Update – 5 August 2020

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Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. Support for Victorian businesses As you have probably heard, the Victorian Government has announced updated restrictions for Melbourne and regional Victoria to help slow the spread of COVID-19. Stage 4 restrictions started from 6pm on Sunday 2 August for metropolitan Melbourne. Stage 3 restrictions are in place…  Read more

How Small Businesses are Boosting Sales During COVID-19

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We started 2020 with optimism and hope that this year was going to be better than the last– but then, COVID-19 happened and brought sudden massive changes worldwide. It has disrupted the way we interact, shop, work, and transact. Businesses of all sizes have been plunged into darkness, with some even having to shut completely Meanwhile, others managed to find dynamic solutions to shelter their businesses from the harsh impacts…  Read more

COVID-19 Business Update – 29 July 2020

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Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. JobKeeper Changes Coming in September Last week the PM announced the JobKeeper wage subsidy scheme will be extended from September through to March next year, with some changes. Please be aware there are still plenty of “unknowns” surrounding the next steps, and these changes are yet to…  Read more