The Government has increased its stimulus package to businesses and not-for-profits that have employees. State School P&Cs will qualify if they had employees at the 12th March 2020.
The Government is providing cash flow assistance for eligible businesses in the form of two separate measures. The following is a broad summary of the key aspects of the stimulus package in response to the Coronavirus, as recently announced and enacted.
The Commonwealth Government yesterday released the second stage of its stimulus plan to cushion the economic impact of the coronavirus and help build a bridge to recovery. A total of $189 billion is being injected into the economy by all arms of Government in order to keep Australians in work and businesses in business.
The ATO is expected to adopt a ‘benign approach’ to PAYG instalment variations in the wake of recent disasters. Business and farm operators should seek assistance to talk with us about where your profit is year to date and what options you may have to vary instalments.
Xero Certified Renae was already proficient in operating Xero with Carrick Aland’s clients and had experienced very positive outcomes using it, so it was a no brainer when it came to bringing her family’s farm onto a cloud bookkeeping system. We look at some of the key ways Renae helped to streamline the cotton farm’s bookkeeping.