Market and Business Update #4 – COVID-19 & Federal Stimulus Package
Yesterday, The Australian Federal Government announced a stimulus package for the economy. This has significant relevance to the small and medium business sector. There are six key measures valued at $17.6billion – 90% of which will be paid to business and individuals between 31 March and mid-April. These include: Wage subsidies for Apprentices and Trainees…
Read MoreMarket Update #3 – General Advice
Market volatility continues. Here’s what we know now. As it stands this morning, the market has declined a further 7.8%. Likely triggers: COVID-19 continues to spread across the world. The share market is responding to the threat of further spread, as well as government policy responses. The US Presidential candidacy is underway, with Election…
Read MoreMarket Update #2 – Coronavirus and the impact on markets
In the past week or so, we’ve seen share markets fall on the back of growing concerns about the spread of the coronavirus. At times of heightened market volatility, it’s easy to fear how your superannuation and other investments might be affected, but it’s important to understand the nature of market movements before making any…
Read MoreMarket Update #1 – Coronavirus
Further to our recent market update email, the uncertainty that surrounds the coronavirus has impacted equity markets over the last week. While we can’t know the true extent or timeframe of this market performance and business landscape, there are number of important facts to note. What we know: The issue is escalating. The number of…
Read MoreInternational Women’s Day 2020
Shining a light on the wealth gap between men and women The theme of the 2020 International Women’s Day is: ‘An equal world is an enabled world’. We’ve reviewed the numbers and when it comes to women’s finance, ‘equality’ is far from the current status. Christine Hallowes is the Senior Financial Planner at AdviceCo. She…
Read MoreDirectors liable for more tax
Last month, the Government passed legislation to include GST in the Director Penalty Notice (DPN) scheme. This means that individual business directors can be held personally liable for unpaid GST from 1 April 2020. What is the DPN scheme? The DPN was launched by the Government to address underreporting by businesses on mandatory taxes and…
Read MoreA word from the NSW Business Chamber – Central Coast Natural Disaster Assistance
Following the severe storms and flooding over the weekend, a State of Natural Disaster has been declared for the Central Coast region. This means that assistance from NSW Government is available to businesses whose property and belongings have been affected. If your business has been affected, you may be eligible for funding assistance from the…
Read MoreWealth: Now is the time to revisit your investment strategy
An investment strategy – whether inside your SMSF, or more generally – is an essential part of securing a positive return. A strategy is a tangible document that outlines your goals and actions now and later. A considered and thoughtful strategy that is regularly reviewed is the best way to become better off. Goals –…
Read MoreAccounting: Cash stress despite healthy profit
Digital credit agency, CreditorWatch has tipped 2020 to be a tough year for SME’s. All too often, smart and profitable businesses find themselves short of cash because of the debtors and creditors they rely on. It takes one payment default to set things off course. Prevention is always the best cure, and communication is key.…
Read MoreTax: MyGovID deadline 27 March
The ATO has announced a termination date for AUSKey of Friday 27 March. This means, the transition to MyGovID for digital interaction with the Australian Tax Office will be compulsory. Here’s what you need to know… What is AUSKey/MyGovID? This is authorisation system that enables digital interaction with the ATO. Tax agents and small business…
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