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The impact of COVID-19 has been felt very differently from region to region. Fortunes vary wildly between business operators subject to ongoing lockdowns and trading impediments to those benefiting from the “new normal”.
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The government has made changes to our Insolvency Framework to help more small businesses restructure and survive the economic impact of COVID-19.
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The second tranche of the JobKeeper scheme changes the eligibility test for employers and the method and amount paid to employees.
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In these trying times, the NSW government is supporting small businesses in NSW with a couple of targeted grants, such as:
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We always knew that a Government scheme swiftly distributing cash during a crisis was going to come with equally swift compliance and review measures, particularly when eligibility was self-assessed. Two major Australian Taxation Office (ATO)..
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“…while it is all very well to talk of 'turning points', one can surely only recognise such moments in retrospect.” Kazuo Ishiguro, The Remains of the Day