Blog Contribution provided by Simona Hughes – CFO from Financial Utilities
A lot has happened in the past week and a half since we sent our first COVID-19 update. We are navigating these challenging times day to day and trying to keep up with all the changes.
The Government finally legislated the 2nd stimulus relief options on Monday and we have been carefully working through who they affect and how our clients can access them. We understand there will be a 3rd stimulus package announced soon and we will let you know once we know more.
We have created a new page on our website and have added all the COVID-19 business resources in there. We have also developed some Excel templates that you are free to download and use (PAYG cashflow boost calculator and Termination/redundancy calculator). Below is a summary of the information/advice we have put together that will hopefully answer some of your questions and concerns:
COVID-19 dedicated resource page – https://www.financialutilities.com.au/covid19
PAYG cashflow boost and calculator – https://www.financialutilities.com.au/covid19/payg-cashflow-boost
Employee stand down – https://www.financialutilities.com.au/covid19/employee-stand-down
Employee terminations – https://www.financialutilities.com.au/covid19/employee-terminations
2nd stimulus package – https://www.financialutilities.com.au/covid19/2nd-stimulus
Sole traders and partnerships – https://www.financialutilities.com.au/covid19/sole-traders-partnerships
Companies and trusts – https://www.financialutilities.com.au/covid19/companies-and-trusts
Tailored relief strategy
We are working through specific strategies for each of our clients so that we are in a position to lodge the March 2020 BASs on time and to maximise each business’ relief entitlements. We will reach out to each of you individually in the coming weeks.
Keep your books up to date
Now more than ever, its important to keep your business tax and BAS lodgements up to date because any relief and Centrelink payments will be conditional upon your tax lodgements being done on time.
Please let us know if you have any questions or concerns as we are here to help our clients through this challenging period. We want to help businesses ‘hold-tight’, survive and come out the other end in a strong position to re-build. We are certainly very busy fielding client queries and educating ourselves on the new measures so if you can’t get through to us on our mobiles, please send a text or an email and we will endeavour to come back to you.
We are all working from home and many of us with our children at home. We are still taking phone calls and hosting virtual meetings, albeit with more noise in the background. We use Zoom software to communicate virtually (voice or video option plus screen share) and we can jump on a Zoom session with you at any time so please reach out if you need our support or if you just want to have a chat and vent.
Facebook, Instagram and Linkedin
We are pushing out a lot of content and updates on our social pages so please like our pages to stay in the loop as its easier for us to post on the socials that to individually email each client. Please also share with your friends and contacts that may need help too.
We may look at doing some Facebook live sessions next week with updates as well as some online webinars where you can join us with your questions. Stay tuned for those.
Finally, please stay safe, physically and mentally. We are all in this together and don’t be shy in reaching out.
B.Com, Chartered Accountant (52356)
t 0415 378 181
Financial Utilities Pty Ltd
ABN: 321 687 804 52
Registered ATO agent: 25899592
Registered ASIC agent: 35665