In the latest edition of the Monthly Client Alert, these new important developments up to and including 30 April 2020 are explained.
- The JobKeeper Payment scheme – The JobKeeper Payment scheme is now open to eligible employers, sole traders and other entities. This update includes further clarity with regard to eligibility, alternative tests , new enrolment and payment extensions and information on the JobKeeper bank hotlines.
- Coronavirus cash flow boost payments explained – As of the second round of economic stimulus in response to the COVID-19 pandemic, the government has legislated a measure to boost cash flow for employers. However, small to medium employers who intend to claim the “cash flow boost payment” in the hope of receiving an injection of cash should beware.
- ATO opens applications for early release of super – The ATO has released its application form for the early release of superannuation by individuals impacted by COVID-19.
- SA Government: Small business grant – Funded from the $650 million Jobs Rescue Package, the $10,000 small business grant opened on 21 April 2020 and is open to all businesses that have been adversely affected by restrictions enacted by state or federal governments due to COVID-19.
- Federal Budget night shifts to 6 October 2020 – The Australian Government recently announced that this year’s Federal Budget will not be handed down until 6 October 2020.
Please stay safe and do not hesitate to reach out if you wish to discuss any of the points raised in this Alert.