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My CFO on the go

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23.01.2022 SME COMMERCIAL LEASING PRINCIPLES DURING COVID-19 Landlords and tenants will need to work together through this one to see positive outcomes achieved!! SUMMARY There is no legislation as yet however the key points around the scheme are as follows: Landlords will have to reduce leases in proportion to the reduction in the tenants business. We presume that this is to be determined in conjunction with supportable numbers showing reduction in turnover.... Reduction in rent may come in the form of waivers (to account for at least 50% of the reduction in business), or deferrals. Where deferrals are involved the tenant must pay the deferred amount over the remaining time on the lease, or for no less than 12 months, whichever is the longer period. The scheme will apply to tenancies where the landlord or the tenant applies for Jobkeeper and where they have turnover of $50 million or less. The arrangements are to be overseen by binding mediation and a mandatory code which will be introduced by each state and territory. Landlords must not terminate the lease or draw on a tenants security, and tenants must honour the lease. For larger commercial landlords, the banks have been asked to provide support. https://www.pm.gov.au//national-cabinet-mandatory-code-ofc

22.01.2022 Covid -19 Stimulus package explained. https://taxandsupernewsroom.com.au/the-federal-government-/

18.01.2022 BUSINESS TAX SUPPORT PLANS We offer a fixed price, fixed service solution so you know exactly what you are going to pay when you work with us. https://www.mycfoonthego.com.au/onlinebusinesstaxsupport

17.01.2022 *DIVERSIFICATION GRANTS AVAILABLE* Market diversification and resilience grants. Equipment purchase up to $7500 and Projects up to $50,000. Are you... a Queensland-based agriculture, food, forestry or fishing exporter... a Queensland-based critical supply chain partner to a Queensland-based agriculture, food, forestry or fishing exporter a not-for profit industry organisation working with Queensland-based agriculture, food, forestry and fishing exporters. a small to medium sized business employing less than 200 full-time equivalent employees registered and operating in Queensland, have an ABN and be registered for GST trading viably for at least the past 2 years. Applications open now! https://www.business.qld.gov.au//market-diversification-re

17.01.2022 Support available for Self Employed/Sole Traders. https://www.business.gov.au//Support-available-for-sole-tr

15.01.2022 JOB KEEPER PAYMENT UPDATE https://www.ato.gov.au/general/jobkeeper-payment

13.01.2022 Bank Support. We know times are tough for many businesses right now, and that maintaining cash flow may be difficult as the coronavirus continues to affect the economy. There are different levels of support being provided by different lenders. It is extremely important that you are in contact with your lender where you are seeking some relief from repayments. We are here to assist in this process.

09.01.2022 COVID-19: QLD GOVERNMENT BUSINESS SUPPORT The Mentoring for Growth program currently has more than 50 mentors ready to connect with impacted small businesses. Mentors are available to provide tailored support including financial mentoring and business planning.... https://www.business.qld.gov.au//mentori/register-business

07.01.2022 STAGE 3 STIMULUS PACKAGE # JOBKEEPER PAYMENT The government has just announced a $1,500 per employee per fortnight Jobkeeper payment. The main headlines are: The payment will be made to businesses to keep employees on their payroll. The payment will last for at least 6 months.... There will be no higher payment made for higher earners. The amount works out to be approximately 70% of the average Australian wage. The payment will be available to full time and part time workers, sole traders, and casuals who have been with their employers for more than twelve months. The payments will flow from the first week of May, and will be backdated to today. The onus will be on employers to keep people on the payroll and then the government will pay back the employer. The Jobkeeper payments will be administered by the Australian Taxation Office. Employers will be legally obligated to ensure the payment does flow back to the employees. The legislation will take time to draft and as usual there will be conditions to be met. As soon as we know these conditions we will advise clients. This is the biggest of the three packages announced to date costing around $130bn. It is designed to see business through these uncertain times, to keep the flow of money moving through the economy. See more

06.01.2022 Jobkeeker Payment Registration https://www.ato.gov.au/general/gen/JobKeeper-payment/

03.01.2022 SMALL BUSINESS ADAPTION GRANT $10,000 Use for busness advice, marketing, digital, capital and meeting business costs. If you need help with your application contact us!... https://www.business.qld.gov.au//advice-su/grants/adaption