Happy New Year!!!
Goodbye 2020!
Happy new year and good riddance to 2020. 2021 has arrived and we are already 1.5 months down! See below for our latest newsletter with some key items for the upcoming months:
Small Business Digital Adaption Program - $1,200 Rebate
The arrival of COVID-19 has transformed the lives of small business owners across the country. In Victoria, under shifting waves of lockdown restrictions, many have seen sales plummet and their doors temporarily close. As the state moves into new phases of recovery, the key to not only their business’ survival, but its continued growth, lies in boosting its digital capabilities across everything from online payments to automated processes as well as being able to provide live access of their business to their advisor to get advice and support when needed.
Compromising of a $20m investment in the sector, this program is designed to increase Victorian small business’ digital capability by encouraging them to trial new software. The program is open to Victorian businesses from all industry sectors.
On the condition that they haven’t used the participating software before, they’ll be entitled to a reimbursement of $1,200 after buying a software subscription (see below for the full process and eligibility criteria).
As per our previous newsletters, Xero is our preferred accounting software and would qualify for the rebate. If you are interested in upgrading please contact our office as Xero are offering large discounts for new subscribers. Note: Registrations close midnight 28th Feb.
Click here for the link to Vic Gov Website
Life After JobKeeper - Have you planned your cashflow
With the final JobKeeper payment set to arrive in early April it is crucial that businesses that have been reliant on the subsidy plan now for business life after JobKeeper. Contact our office for assistance in managing your business cashflow without any government stimulus.
JobMaker
With JobKeeper set to finish we can turn our attention to JobMaker Hiring Credit. See below link to our previous article as well as a recent news article discussing the scheme.
Click here for the previous newsletter
Click here for the news article
Immediate Asset write off - No limit
A quick reminder that the majority of businesses will be eligible for an immediate deduction for the entire cost of new assets purchased until 30 June 2022. See below link to ATO website
Click here for the ATO site
Well being support for Small Business - You are not alone!
Through this program, Victorians dealing with the challenges of running a small business can get the mental health support they need to navigate through the impacts of coronavirus (COVID-19). Help is available if you need it and of coarse please contact our office for assistance if needed.
Click here for the full program