Coping with Business Impacts and Challenges
We can prepare a documented review and strategy to assist your business not only getting through the Covid 19 period but positioning it for a springboard recovery when the world returns to normal. Our strategy will assist in accessing all of the following packages that are available:
- Cashflow assistance to employers by way of a payment equal to PAYG withholding, which could be worth up to $100,000;
- Wages subsidy for apprentices and trainees for smaller employers, which could be worth up to $21,000 per apprentice/trainee;
- Expansion of the Instant Asset Write-Off provisions for small and medium sized businesses;
- Accelerated depreciation provisions for most businesses;
- Unsecured loan guarantees for Small and Medium Enterprise borrowing of up to $250,000;
- Wages subsidy of $1,500 per employee per fortnight for up to 6 months;
- Payroll tax waivers and deferrals for small businesses; and
- Support measures by the ATO allowing for deferral of tax payments.
These measures are complex, but can represent substantial support for small businesses over the coming months. Farrar Gesini Dunn is ready to assist small businesses through this difficult time. For an initial consultation contact us today.