Business Stimulus Package for Organisations Affected by COVID-19

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BUSINESS INVESTMENT INCENTIVE

We can help you get complete understanding of the stimulus package for small business offered by the Australian government, which provides for increased instant asset write off.

BENEFIT FROM CASH FLOW SUPPORT

We can guide you with regards to the eligibility criteria for receiving 100% payment of your PAYG Withholding amounts submitted via BAS, which is also applicable to non-profit organisations as well.

RETAINING APPRENTICES AND TRAINEES

We an assist you with your application for wage subsidy of 50% of your apprentices and trainees between January 2020 and September 2020.

Friendly and Reliable Bookkeeping Assistance

Take Advantage of Business Stimulus Package 2020

Skyway Bookkeeping & BAS has a renewed resolve to assist small businesses in claiming government stimulus package and increase their cash flow amid the economic impact caused by COVID-19 pandemic. In the current lockdown scenario where commercial productivity has been halted, there is financial assistance to help businesses manage their cash flow and retain their employees. Our team of bookkeeping specialists can help you keep your business afloat by providing you with the proper means in claiming the Stimulus Package for Small Businesses. For businesses with annual turnovers of less than $500 million the instant asset write off threshold was increased to $150,000. Tax deductions of about 50% of the cost of eligible assets on installation will also be granted to eligible organisations. The purpose of this is to enhance economic growth in a short period of time, as well as increase business investments.

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Excellent Financial Advice In Difficult Times

Government Stimulus Package Consultation

The whole world is under an ongoing economic, since all the major countries are shut down and businesses are forced to halt their operations. This is quite a challenging time for small businesses, who have been greatly impacted by this difficult situation. Nevertheless, all is not lost, because the government is doing various methods to stimulate the economy. One such method is the Business Stimulus Package 2020, which was just introduced recently. Its focus is to improve the cash flow of businesses dealing with the impact of COVID-19 pandemic. Put your faith in a trusted bookkeeper in Brisbane to comprehend the deferrals provided by the Australian Taxation Office (ATO) for the payment for income tax, submission of statements of business activities, etc. We can also temporarily change our client’s reporting cycle and claiming refunds and vary the PAY instalments if the client’s business has less than $20 million annual turnover. Business affected by COVID-19 are also given decreased penalties by the ATO.

Need Assistance in Claiming Payments of Small Business Stimulus Package?

Contact us today for expert consultation on the matter from renowned and knowledgeable bookkeepers in Brisbane.

Friendly, Supportive and Dedicated Bookkeeping Specialists

Leveraging the Employee Retention Plans

One important concern that many small businesses affected by the current circumstances is the payment of salaries and wages of their top employees. Making the top employees stay onboard is challenging due to the current conditions and all businesses are dependent on the talent of their workforce. However, some helpful measures for employee retention with regards to employee retention is among the focus of the Business Stimulus Package 2020. Skyway Bookkeeping & BAS can be a assistance in processing payroll and when lodging Single Touch Payroll. This way, our clients can put more time and effort into making essential business decisions. Small businesses are aided by the government so that they don’t lose valuable human resources. The government is also providing 50% wage subsidy of the trainee and apprentice wage from January 2020 to September 2020. Furthermore, the subsidy can be used by the new business owner who employs the apprentice or trainee in case an organization is unable to retain their employee due to slowdown. A maximum amount of $21,000 per eligible trainee or apprentice will also be refunded to eligible employers as stated in the Government Stimulus Package, which will be beneficial to almost 70,000 Australian businesses.

Business Advice

Seeking expert advice about Stimulus Package? Our bookkeepers in Brisbane just the right people to go to.

Effective Support

Need to process the payroll and lodge the STP online without any hassles? We’re just a phone call away.

Help with Claims

Get full understanding of your eligibility and make claims for the Small Business Stimulus Package with our help.

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