Over the last two weeks, there has been announcements of 2 government stimulus packages designed to stimulate the business community and to stave off a substantial increase in unemployment in Australia.  While the final legislation may differ slightly, the clear intention is to assist the business community and avoid or […]

The government and the banks are combining to offer lending assistance during these troubled times. SME Guarantee Scheme The government will provide a guarantee of 50% of unsecured loans to SMEs with the following criteria: Maximum loan of $250,000 Maximum term of 3 years 6 months repayment holiday These loans […]

The Victorian Government has announced a range of tax measures including a Land Tax Deferral to support businesses through Victoria’s State of Emergency, as part of a broader economic survival package to support business and jobs in response to COVID-19. Benefit Eligible landowners can defer their 2020 land tax payment. […]

The government has announced measures as support for individuals during the Coronavirus pandemic. Measure impact on Social Security and Superannuation. Social security The Government will expand and ease access to social security payments for people who have lost jobs, had hours cut, or sole traders with reduced profits. There will be […]

To assist financially stressed businesses, the government will provide temporary increases (for 6 months) in thresholds related to bankruptcy and insolvency provisions: Increase in the threshold required for a creditor to issue a statutory demand from $2,000 to $20,000, Increase in response time for a statutory demand from 21 days […]