Hot Issues
spacer
COVID-19 resources -Update July 2020
spacer
Work Related expenses – 2020
spacer
‘Everyone is now on notice’: ATO acquires COVID-19 data on 3m Aussies
spacer
Extra Tools & Resources for our clients.
spacer
Year End Tax Deductions – “equipment”
spacer
Home Office Claims 2020
spacer
Early release of super sees ‘high take-up’
spacer
Tax time 2020: ATO homes in on rental deduction claims
spacer
ATO announces Div 7A COVID-19 assistance
spacer
‘HomeBuilder’ grants now available.
spacer
$150k instant asset write-off extended for 6 months
spacer
Tax Time Checklists - Individuals; Company; Trust; Partnership; and Super Funds
spacer
JobKeeper documentation ‘absolutely critical’ in ATO audit
spacer
ATO updates JobKeeper compliance approach
spacer
COVID-19 hotspots - tax time 2020
spacer
Tax reform to feature heavily in PM’s JobMaker plan
spacer
Jobkeeper Fraud warning
spacer
ATO extends initial JobKeeper payment deadline
spacer
Boosting cash flow - ATO
spacer
Our website, your resources
spacer
ATO releases JobKeeper alternative test
spacer
Temporary Working from Home Expenses Rule
spacer
Minimum Pensions Halved – 2020 & 2021
spacer
More coronavirus support for landlords, commercial tenants
spacer
COVID-19: Early Childhood Education and Care Relief Package
spacer
What Covid-19 relief packages mean to you.
spacer
Now I’m working from home, what can I claim?
spacer
Global statistics plus Covid-19 updates
Article archive
spacer
Quarter 2 April - June 2020
spacer
Quarter 1 January - March 2020
spacer
Quarter 4 October - December 2019
spacer
Quarter 3 July - September 2019
spacer
Quarter 2 April - June 2019
spacer
Quarter 1 January - March 2019
spacer
Quarter 4 October - December 2018
spacer
Quarter 3 July - September 2018
spacer
Quarter 2 April - June 2018
spacer
Quarter 1 January - March 2018
spacer
Quarter 4 October - December 2017
spacer
Quarter 3 July - September 2017
spacer
Quarter 2 April - June 2017
spacer
Quarter 1 January - March 2017
spacer
Quarter 4 October - December 2016
spacer
Quarter 3 July - September 2016
spacer
Quarter 2 April - June 2016
spacer
Quarter 1 January - March 2016
spacer
Quarter 4 October - December 2015
spacer
Quarter 3 July - September 2015
spacer
Quarter 2 April - June 2015
spacer
Quarter 1 January - March 2015
spacer
Quarter 4 October - December 2014
Banks to defer small-business loan repayments for 6 months

Small businesses will be allowed to defer loan repayments for six months under new emergency measures announced by the Australian Banking Association.

       

Australian Banking Association chief executive Anna Bligh said the relief package is expected to apply to $100 billion of existing small-business loans and said it could put “as much as $8 billion back into the pockets of small businesses as they battle through these difficult times”.

“This is a multibillion-dollar lifeline for small businesses when they need it most, to help keep the doors open and keep people in jobs,” Ms Bligh said.

The ABA’s announcement comes after the Reserve Bank announced an emergency cash rate cut to a record low of 0.25 of a percentage point.

The central bank also announced it would set up a $90 billion term funding facility for banks to specifically support their small-business clients.

According to Ms Bligh, the banks will put in place a fast-tracked approval process.

“Small businesses can rest assured that if they need help, they will get it. Banks are already reaching out to their customers to offer assistance, and packages will start rolling out in full on Monday,” she said.

‘“While this is first and foremost a health crisis, this pandemic has begun to have serious impacts across the economy, with small businesses beginning to feel the devastating effects.

“Small businesses are the most vulnerable part of economy and present the most pressing need for assistance in the economy today.”

Ms Bligh has advised that any small business who has not already been contacted should contact their bank to apply.

 

 

Jotham Lian 
20 March 2020
accountantsdaily.com.au

site By AcctWeb