Prepare.

Act.

Rebound.

COVID-19 (Coronavirus) Resource Hub

We have put the COVID-19 (Coronavirus) Resource Hub together as an ongoing platform to assist businesses, individuals and retirees to stay updated with information to help you prepare and respond to the evolving worldwide health crisis resulting from COVID-19.


At this stage, no one has any idea how long COVID-19 will continue to impact Australia and the world. Nor do we know what the full and long-term impacts will be. It is important awareness and preparation takes place now to assist you in rebounding back once the crisis has past. 

 

We are here to assist

Should you have any questions or require assistance, we encourage you to reach out and we will be in touch.

PREPARING

We strongly encourage business owners to download the detailed summary of tips to assist in preparing for COVID-19.

We also encourage you to think about seeking support from your team of advisors such as accountant, lawyer, insurance company, banks etc.

Read Detailed Summary
Wardle Partners - Covid-19 Free Resource

COMMONWEALTH, STATE & COUNCIL GOVERNMENT ASSISTANCE

We have also provided information and commentary on the recent economic stimulus package recently announced by the Commonwealth, State and Council Governments. Wardle Partners Accountants & Advisors will be closely monitoring future Government announcements and will communicate those where necessary.


We will get through this together. Try to stay positive, support one another and do not hesitate to contact us if you need help.

 


 

COMMONWEALTH ASSISTANCE

$1,500 JOBKEEPER PAYMENT

Last updated: 6 April 2020

From 30 March 2020 Australian businesses impacted by COVID-19 that have or expect to experience a decrease in turnover of 30% should be eligible for $1,500 per fortnight for each eligible employee. Under the JobKeeper Payment, impacted businesses will be able to access the subsidy to continue paying their employees. Employers will be able to claim the fortnightly payment of $1,500 per eligible employee for a maximum period of 6 months. 

For a lot of businesses this will allow them to avoid standing employees down and allow them to continue to operate and be better positioned when we are on the other side of COVID-19. Continue reading...

 

 

 

 

Download the JobKeeper Employee Nomination Notice Form

 

BOOSTING CASH FLOW FOR BUSINESSES WITH EMPLOYEES

Last updated: 6 April 2020

Further increases to the Boosting Cash Flow for Employers have been announced. Up to $50,000 credit to Jun 30 for wages PAYG withholding tax lodged beginning with the March BAS. This total benefit received to the 30 June will then be matched after 1 July making the potential maximum benefit $100,000.

All employers will receive a minimum payment of $10,000 p to June 30 and a further $10,000 from 1 July 2020. The measure now applies to not for profit entities as well. 

The Governments Fact Sheet.

 

 


 

$150,000 INSTANT ASSET WRITE OFF

Last updated: 18 March 2020

As part of the Australian Federal Governments stimulus package, the Instant Asset Write-off scheme has been increased. Businesses with a turnover up to $500 million will now be able to access the incentive and will be able to access an instant access write-off up to $150k per eligible item.

The government hopes this incentive will encourage business to spend money to assist the economy during the Coronavirus outbreak and to provide tax relief.

The $150,000 Instant Asset Write-off Fact Sheet.

 

 


 

INVESTMENT INCENTIVE

Last updated: 18 March 2020

The Australian Government has provided the following Fact Sheet regarding the Investment Incentive.

The Australian Federal Government is introducing an Investment Incentive. The incentive will run until 30 June 2021. The aim is to support business investment and economic growth by accelerating depreciation deductions. Businesses with aggregated annual turnover of less than $500 million per year will be allowed to deduct 50% of the cost of an eligible asset upon installation. This is provided the
asset was acquired after 12 March 2020 and first installed or used by 30 June 2021. There is no maximum asset value threshold for the 50% investment incentive. The existing depreciation rules apply to the balance of the asset’s cost.

 

 


 

$21,000 APPRENTICESHIP AND TRAINEE SUBSIDY FOR EMLOYERS

Last updated: 6 April 2020

The Australian Federal Government is providing stimulus to employers to retain, apprentices / trainees and to help stimulate jobs during the Coronavirus outbreak.

Governments Fact Sheet

 

 


 

MANDATORY COMMERCIAL RENT CODE

Last updated: 7 April 2020

A new mandatory code to legislate and regulate commercial rents will become law in every state and territory. Commercial rents will be reduced by the same proportion that the tenant's revenue has fallen due to the COVID-19 outbreak. It will apply to tenancies where the landlord or tenant is eligible for the Jobkeeper subsidy and has revenue of less than $50 million. Rental payment will need to be made but can be spread over the remaining time on a lease or for no less than 12 month. 


 

NEW TAX DEDUCTION FOR WORKING FROM HOME

Last updated: 7 April 2020

The ATO is introducing a new method to allow people to claim 80 cents per hour for all their running expenses, rather than needing to calculate costs for specific running expenses incurred. The change will apply from 1 March to 30 June 2020. After this date the ATO will reassess the situation. If you wish to use this method all you need do is keep a record of the hours you worked from home as evidence of your claim. 

 

 


QUEENSLAND GOVERNMENT ASSISTANCE

 

$250,000 QLD GOVERNMENT LOAN SCHEME

Last updated: 18 March 2020

For Queensland small businesses impacted by the international outbreak of coronavirus (COVID-19) the Queensland Government is providing support in the form of interest free loans.

A range of assistance is available to assist with cash flow, to support business investment, keep employees, apprentices and trainees in jobs, and assist severely affected regions.

To apply or to gain further information please visit the following two Queensland Government websites:

- Novel coronavirus small business support
- Queensland COVID-19 Jobs Support Loans