The Government is releasing the outcome of the review into JobKeeper and JobSeeker, and its economic update (along with any further initiatives).
During this webinar we'll cover:
|Trading at a loss / not sustainable.||
If you are in the position where even the economic stimulus measures such as JobKeeper and Cash Boost are not assisting you to break even,
you may need to make the tough decision to place your business into administration or liquidation before the temporary relief from personal
liability from insolvent trading expires on 24th September 2020.
This is big decision to make and for many will carry significant impact on several levels. If you are unsure of where you stand, please call us to chat about your position.
Trading at break-even.
Business has been difficult.
You have made the decision early on to pivot your business and take advantage of changed business opportunities and conditions.
You are preserving cash, but JobKeeper and Cash Boost payments are keeping you afloat.
Cash Flow planning is essential right now to ensure your business remains viable after government income is reduced or removed completely.
In essence, plan your cash flow without any income assistance. Be honest about your ability to trade and where you can adapt.
We can assist you to create a 12 month cash flow plan. You may also want to consider asset protection and/or estate planning.
|Trading well. Business is booming.||
Covid-19 hasn't been all bad for some businesses. In fact, financially things have got better for some. Cashflow is good. You are up to
date with your taxes. You business is enhanced by taking advantage of new opportunities. You're making good profits and expect to
continue to make good profit over the next 12 months.
We love a feel good scenario like this and we'd love to help you maintain the momentum. Consider your strategic plan and ensure you're able to continue to respond quickly to market and economic changes.
The 2020-21 Federal Budget is a road to recovery paved with cash. Some of the measures are aimed at addressing the harsh lessons COVID-19
has taught us and seek to centralise production back in Australia to ensure our industries can be self-reliant.
Reflecting on the past 6 months, particularly since the effect of Coronavirus on financial markets, I am concerned that many investors do not have a clear and tailored investment strategy. My observations are that investors seem to be failing to understand one basic investment principle; 'The higher the return the higher the risk’.
The updated alternative tests released by the Commissioner of Taxation are broadly similar to the alternative tests that were released in connection with the original decline in turnover test. However, there are some key differences.