We can help Small Business access the Stimulus Packages
but contact us early as we are experience an increase in demand
Hobart Bookkeeping Services
COVID-19 - SUPPORT PACKAGE
FOR SMALL BUSINESS
Small Business Emergency Support Grant - Tasmania
Immediate support is now available for the following industries:
Tourism and accommodation
Arts and entertainment
Grants of $2,500.00 are available through the Department of State Growth as a one off emergency support payment. A second round of grants of $15,000.00 will be made available for small businesses that are experiencing severe financial hardship.
Here is the link to the $15,000 Small Business Hardship Grant' s guidelines and application
The Australian Government is supporting businesses and individuals looking for work - you might be able to redirect your current tool/equipment and skills to meet the increase in demand in a different area of the economy. For more information click on the link:
3rd Stimulus Package - JobKeeper Payments
Register an intention to apply for the JobKeeper Package - https://www.ato.gov.au/general/gen/JobKeeper-payment/ (www.ato.gov.au)
The ATO will use Single Touch Payroll for employee details
Need to show 30% downturn in turnover compared to same period last year
payments will be made available from the first week in May and provided monthly
Employers can claim the payments from 30 March for a period of 6 months.
Employees need to be employed for 12 months
This includes casuals, part time and full time employees including employees that have been stood down.
Employers to decide whether super will be applicable
This includes self employed and contractors - need to show the same criteria
Here are a couple of links for more detailed information:
Start by reviewing the Frequently Asked Questions fact sheet - lots of great information: https://treasury.gov.au/sites/default/files/2020-04/JobKeeper_frequently_asked_questions_0.pdf
The Government is aware that there may be some issues with being able to show a 30% reduction in turnover. We are hoping that the legislation will pass shortly and that we have more detailed information by Wednesday, 8th of April 2020.
2rd Stimulus Package - Small Business Payments
The Federal Government has released a COVID-19 support package for households and businesses to the value of around 10 percent of GDP. Similarly, state governments have come forward with packages including payroll relief, concessional loans and a range of grants and waivers. For small businesses, headline federal initiatives include:
Up to $100,000 in payments for employing businesses and 50 percent apprentice and trainee wage relief
Expanded access to the instant asset write-off, from $30,000 to $150,000, access to unsecured government-backed loans of up to $250,000 with a repayment holiday of six months and measures to keep liquidity up and the cost of credit down
Giving sole traders who experience hardship easier access to increased income support and the ability to draw up to $20,000 tax-free from their superannuation.
The payment to small business will be offset against the lodged March and June Activity Statements and any remaining credits will be directly deposited into your bank account. Please ensure that the ATO has your current bank account details.
If you have a business loan which you are unable to service, contact you bank to defer payments for 6 months. Interest will still accumulate.
Tasmanian Small Business Grant - one off payment of $750.00 - review the link for more information:
Hobart Bookkeeping Services is a small but powerful bookkeeping firm that provides simple and effective solutions. We are the superhero you are longing for. We can make all your problems disappear.
Our expertise will help you create and build something completely new and develop new pathways and business opportunities – we already do this every day for our clients. We would love to invite you into our every growing team.
How we can help
We help businesses take back control by removing the stress. It’s that simple.
Our engagement really depends on your requirements. We provide personalised services which best support your business requirements not the other way around. We are here for you and are happy to catch up with you on building sites, your place of business or ours.
You would receive weekly report to help you manage your cash flow. We would also provide some basic training on how to read your financial report – no good providing you with information that you don’t understand.
If you are super organised, we can provide you with cheap and practical accounting solutions to get the work done fast and efficiently. You will be surprised how quick we can process the work.
If you are super unorganised, we will be your guardian angel, polite but definitely persistent, helping you get back on track. We don’t give up on our clients. There is no such thing as too difficult.
Set up and Training
Clean up and Forensic
All of our services are backed up by our phone support, not just during business hours but after hours as well. There is nothing worse than trying to process your wages on a Sunday night, already 2 days late, only to realise that half the employees are missing off the pay run. Cloud accounting software allows us to access your records from anywhere in the world at any time, providing there is internet access.
"IF THERE IS A WAY
TO DO IT BETTER...
THOMAS A. EDISON