…and closer to home for our ACT clients and friends, stimulus arrangements have been announced for individuals and businesses.

For individuals: a $150 rates rebate for each household; vehicle registration, public transport and parking fees to be frozen; a rebate for households receiving the utilities concession.

For businesses: a $2622 credit to commercial rates bill; $750 rebate through next electricity bill; deferral of payroll tax for payrolls up to $10m; specific industries to receive one-off 6 month waiver on payroll tax; $20m fund for infrastructure works on public buildings; funding for clubs to retain casual staff; taxi, rideshare, food and liquor licence fees waived.

Please speak to your friendly Halletts team member about how these measures might help you or your business!

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.

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!