You may already know that the government is offering small and medium businesses help during COVID with costs of employee wages and salaries by making payments linked to your upcoming activity statement lodgements. It is also offering wage subsidies for apprentice/trainees’ wages paid between January and September this year.

Looking for more information? The Department of Treasury has distributed a fact sheet with some more detail containing examples, which can be found here.

We strongly recommend you speak to your friendly (and still healthy) Halletts team member before you lodge your March Business Activity Statement, in order to maximise your access to the concessions and subsidies.

Female Apprentice

In this time of financial, climate and health worries, it’s important to seek out the positives and accept all offers of help – Scomo’s no longer shaking hands.

He’s now splashing cash, announcing business cash grants of up to $25K, an increase in the instant asset write off threshold from $30K to $150K until 30 June 2020 and an up front 50% tax deduction on purchase price of new assets until 30 June 2021.

Subsidies for trainees/apprentices, cash for pensioners and even the ATO will be required to cut some slack in some regions.

Want to get in for your share of Sco-mo-ney? Please ask your friendly Halletts team member!

Thumbs Up

The Earlier the Better We Say

With the Christmas singing and Merry Wishes seeming like a long time ago, we are now busily working away.

Although the May 2020 due date may seem far into the future, we would love to receive your tax returns earlier rather than later to avoid any surprises (and provide your refunds quicker!)

wrist wearing apple watch showing the time