Victoria Increases Support Package For Businesses Amid Lockdown Extension

Image Credit: Chris McLay on Unsplash

With the announcement of a lockdown extension for another seven days, the Victorian government has announced a fresh $209.3 million support package for small and medium businesses (SMEs). The announcement comes after the state government announced a $250.7 million support package on Sunday, May 30. The fresh announcement brings the total business funding relief to… Continue reading Victoria Increases Support Package For Businesses Amid Lockdown Extension

Risky business: Ignoring JobKeeper scheme could leave some with regrets

Business owners are being urged to register for the JobKeeper allowance despite trepidation and confusion from many around the scheme, according to a leading tax expert. Pilot Partners head of taxation Murray Howlett said business owners who took a ‘wait and see’ approach to the scheme could be missing out on a huge financial incentive.… Continue reading Risky business: Ignoring JobKeeper scheme could leave some with regrets

Stimulus package reaction: “There are bigger concerns not addressed”

Australian Prime Minister Scott Morrison speaks to the media during a press conference at Parliament House in Canberra, Friday, April 3, 2020. (AAP Image/Lukas Coch)

The Morrison government’s economic plans to mitigate coronavirus challenges is a timely, sensible and proportionate response, however there are bigger concerns not addressed. Through constant communication with our client base of over 58,000 Australian SMEs, we have seen that almost every business is severely impacted by the unfolding COVID-19 recession. The stimulus packages and plans,… Continue reading Stimulus package reaction: “There are bigger concerns not addressed”

Third stimulus round and wage relief expected soon, evictions suspended

A third round of stimulus is expected soon in the hopes of keeping the economy afloat during the COVID-19 pandemic, with more details on Morrison’s reference to “hibernation” for small business included.   Recent updates from the COVID-19 pandemic from the weekend include the limitation of gatherings to just two persons, and the government’s announcement of further… Continue reading Third stimulus round and wage relief expected soon, evictions suspended

Economic outlook deteriorates

The latest Dun and Bradstreet Business Expectations Survey has revealed that the economy will continue to slide into recession, with the worst yet to come. Expectations for the June 09 quarter are less than promising, with 57 percent of businesses anticipating declining sales and 65 percent expecting declining profits. The sliding Aussie dollar has also… Continue reading Economic outlook deteriorates

Cash bonus to kick in: spend or save?

With the Federal Government’s $900 cash bonus – part of the $42 billion stimulus package – hitting consumer bank accounts today, research conducted by the Australian National Retailers Association (ANRA) has shown that people are divided on whether to spend the money or save it. The ANRA consumer sentiment survey has shown that 22 percent… Continue reading Cash bonus to kick in: spend or save?