Australian State and Territory Economic Relief and Stimulus Package Summaries
More in 2020 Archive
May 12, 3 weeks ago

Australian State and Territory Economic Relief and Stimulus Package Summaries

Introduction In response to the coronavirus (‘COVID-19’) pandemic currently impacting the economy and businesses generally, each Australian State and Territory Government has announced relief and other support packages as part of the broader econ…

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May 8, 4 weeks ago

Our app has been updated to include a COVID-19 Resource Kit!

As your accountant, it’s our job to ensure your business stays informed, compliant and tax efficient, and with this in mind we have recently updated the David O’Brien and Associates mobile app. The app is completely free of charge to you as one o…

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Apr 15, 2 months ago

The JobKeeper Payment – 50 Questions & Answers

On 8 April 2020, the Federal Government passed a package of Bills through both Houses of Parliament (which received Royal Assent on 9 April 2020) to give effect to (amongst other things) the JobKeeper Scheme. Subsequent to this, a Legislative Instrum…

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Apr 9, 2 months ago

COVID-19 – Temporary Amendments to the Clerks Award

Last week we received communication from Turnbull Hill Lawyers, one of our trusted local lawyers regarding The Fair Work Commission recently approving an urgent change to the Clerks-Private Sector Award 2010 (Clerks Award). The change is the insertio…

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Apr 9, 2 months ago

Mandatory Coronavirus rent relief package for businesses

The Morrison government has finalised its long-awaited rent relief package for commercial tenants, outlining a plan that will force landlords to grant rent reductions to small businesses under a mandatory code of conduct. Prime Minister Scott Morriso…

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Apr 9, 2 months ago

Debt Assistance

If the previous month has taught us anything, it is that our current situation continues to evolve and present new challenges, leading us into an era of unprecedented circumstances, which, for some businesses, may seem more like brick walls. Like eve…

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Apr 9, 2 months ago

COVID-19 Stimulus Key Dates – When will I get my payment?

ECONOMIC SUPPORT PAYMENT FIRST $750 PAYMENT The Economic Support Payment of $750 will be paid directly into accounts registered with Services Australia from March 31, 2020. Payments will be made over several weeks, with most paid out by April 17, 202…

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Apr 9, 2 months ago

$10,000 Small Business Support Grant

Thousands of small businesses across NSW struggling to cope with the COVID-19 shutdown will receive grants of up to $10,000 under a new assistance scheme announced by Premier Gladys Berejiklian, Treasurer Dominic Perrottet and Minister for Finance an…

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Mar 31, 2 months ago

Coronavirus SME Guarantee Scheme

The Government, Reserve Bank of Australia and the Australian Prudential Regulation Authority have taken coordinated action to support the flow of credit in the Australian economy, in particular for small and medium enterprises (SMEs). Timely access t…

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Mar 31, 2 months ago

Bushfire Recovery Grants for Small Business

The NSW, Victorian & South Australian State Governments are supporting business with grants for those directly and indirectly impacted by the recent bushfires These grants are up to $50,000 for those directly impacted by the bushfires; and up to …

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Mar 31, 2 months ago

Payroll Tax Measures to Assist with the Impacts of COVID-19

The Government and the registered states are assisting business owners affected by the Coronavirus crisis through payroll tax financial relief and assistance. Each state is implementing their own measures and stimulus packages and the rates and thres…

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Mar 31, 2 months ago

Boosting Cash Flow for Employers with a current ATO debt

The Cash Flow Boost for Employers is to provide temporary cash flow support to small and medium businesses and not-for-profit organisations that employ staff during the economic downturn associated with COVID-19. These cash flow boosts will be applie…

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JobKeeper Payment – Supporting Businesses to Retain Jobs

The Government is introducing a subsidy program to support employees and businesses. The JobKeeper Payment is designed to help businesses affected by the Coronavirus to cover the costs of their employees’ wages, so that more employees can retain th…

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Mar 31, 2 months ago

JobKeeper Payment – Sole Traders and Self-Employed

Sole traders and self-employed are included in the group of eligible employers who will now gain access to the Federal Government’s $130 billion wage subsidy program known as the JobKeeper payment. Both sole traders who employ people, and those who…

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Mar 31, 2 months ago

Government’s JobKeeper Scheme

The Government is introducing a subsidy program to support employees and businesses. The JobKeeper Payment is designed to help businesses affected by the Coronavirus to cover the costs of their employees’ wages, so that more employees can retain th…

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Mar 27, 2 months ago

Access to Superannuation

Employees who have been made redundant, or those who have their working hours reduced by 20 per cent or more, or sole traders whose businesses have been suspended or see a reduction in turnover by 20 per cent or more will also now be allowed to acces…

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Mar 27, 2 months ago

Temporary Insolvency Relief

Directors will now be temporarily relieved of their duty to prevent insolvent trading with respect to any debts incurred in the ordinary course of the company’s business, with the measure set to run for six months. According to Treasury, egregious …

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Mar 27, 2 months ago

Coronavirus and Australian Workplace Laws

To assist our clients, both employers and employees, we have provided the following link to the Australian Government’s Fair Work Ombudsman website in relation to the current workplace laws. Whilst we do not provide advice in relation to these …

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Mar 27, 2 months ago

Sole Trader Support

The government will establish a new $550 fortnightly coronavirus supplement payment. Permanent employees who are stood down or lose their employment, sole traders, the self-employed, casual workers and contract workers will be able to access the new …

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Mar 27, 2 months ago

The Accounting Profession Considered an Essential Service

In communication to our clients, specifically the most recent ones regarding the reforms and incentives the various governments have provided, we have specifically mentioned that we want to be here for you – and hopefully soon that will be conf…

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Mar 25, 2 months ago

Coronavirus Special Update – Cash Flow Assistance for Businesses

Government’s Stimulus Package in response to the Coronavirus The purpose of this communication is to provide you with an update relating to the Government’s Economic Stimulus Package in response to the Coronavirus. Our office will continue to…

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Mar 25, 2 months ago

Coronavirus Special Update – Income Support for Individuals

Government’s Stimulus Package in response to the Coronavirus The purpose of this communication is to provide you with an update relating to the Government’s Econonmic Stimulus Package in response to the Coronavirus. Our office will contin…

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Mar 23, 2 months ago

The Federal Government’s second COVID-19 stimulus package for business and employers

Prime Minister Scott Morrison has now unveiled a second $66.1 billion support package after he announced an initial $17.6 billion package that included a supercharged instant asset write-off and this SME cash payments. This second stimulus package pr…

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Mar 18, 3 months ago

Government coronavirus stimulus package for businesses

The Federal Government has announced a $17.6 billion stimulus package to address any economic downfall that may be caused by COVID-19 (coronavirus). These measures have been introduced immediately to provide significant cash flow to business taxpayer…

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Mar 18, 3 months ago

COVID-19 Information from David O’Brien and Associates

Dear valued clients, In the wake of the recent COVID-19 outbreak, we understand that many people are concerned for the safety of themselves, family and friends. We want to provide assurance that the team at David O’Brien and Associates are always p…

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