$120 million in JobKeeper payments has been taken back from ineligible businesses who made deliberate or reckless mistakes.
The 2020 Budget has been dubbed the road to recovery for the Australian economy as we bounce back from the impact of the COVID-19 Pandemic.
Temporary insolvency and bankruptcy protections are in place until 31 December 2020 to enable businesses to trade through the pandemic.
The first tranche of JobKeeper ended on 27 September 2020. We look at the issues for those seeking to qualify for the second round of JobKeeper and for those no longer eligible.
The Victorian Government's Business Resilience Package was announced last weekend. It will provide $3 billion in cash grants, tax relief and cash flow support to Victorian businesses.
If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business. But, to what degree does the pandemic impact on value? Should you discount or hold firm to pre COVID-19 performance on the basis that ‘we’re going to come out of it eventually’?
Business operators should have a plan in place to manage during uncertain times like these, even if your business is not directly impacted. But how do you plan for uncertainty when every assumption is subject to change?
Short answer - probably! Read here for the full answer, and also consult with your tax agent for individual advice!
There have been several new packages released over the weekend to support Victorian businesses impacted by this second lockdown. Find out about the "Second Wave of Stimulus" here.
Whether it is the coronavirus, fire or flood, the fact is if you are in business long enough you will almost certainly have to deal with an external impact on your business. How do you become a resilient business?