We wanted to reassure our clients that Saige is here to help you and your business during these uncertain times.
Things are changing rapidly both in health and economic reports. There is a lot to absorb and knowing how to interpret information and apply this to your business or personal situation is often difficult. We will continue to update this page with the relevant news supporting business.
Federal Government Support for Businesses
The following a specific measures taken by the federal government to support businesses. Access the key factsheets or our own customised resources here:
- JobKeeper Payment for businesses
- Cashflow assistance
- Relief for financially distressed businesses
- Instant asset write-off
- Business Investment Incentive
- Apprentice and trainee support
- Coronavirus affected community support
Federal Government Support for Individuals
- JobKeeper payment – information for employees
- Income support for individuals
- Payment support for households
- Early access to superannuation
- Reducing superannuation drawdown rates
NSW Government: Coronavirus Stimulus Package
- Payroll tax will be waived for businesses with payrolls of up to $10 million for three months (to the end of this financial year).
- State government fees and charges to be waived for small businesses such as cafes, restaurants and those in trades.
- $10,000 small business grants to provide fast relief for COVID-19 impacted business.
ABA: Small Business Relief Package
- Australian banks will defer loan repayments for small businesses affected by COVID-19 for six months. Read more here.
RBA: Interest rate cut
- The Reserve Bank of Australia has reduced interest rates to a record low of 0.25%.
Health Advice for Businesses and Employees
We would also like to share the most recent advice from NSW Health for Businesses and Employees.
If you need to make any critical decisions on staff, investments or operations now, please give us a call on (02) 4365 7222. We also encourage you to follow us on Facebook or LinkedIn to receive updates on the current conditions for business.