The Victorian Government has announced a third round of the Business Support Fund to provide direct financial support to businesses impacted
by restrictions in Victoria. We'll be in touch with all our clients to assist as we have with previous rounds. We are with you as always
The Sole Trader Support Fund has $3,000 cash grants for sole traders, however only for those who operate from commercial premises or as a tenant or licensee. We'll be in touch with our sole trader clients once the final application details are released.
Think you might owe unpaid super to past or present employees?
Time is running out for the one-time opportunity to pay the super you owe without penalty.
The amnesty closes on the 7th September 2020. It will not be extended.
Amnesty relates to Superannuation due for periods from 1992 up to March 2018 quarter and was due before 24th May 2018.
The ATO takes the issue of unpaid super very seriously, and if you don’t take action now, you could find yourself paying substantial
interest and penalties. At the minimum, you will face double the amount owed and lose the ability to tax deduct. Continued failure to pay
can result in further fines and imprisonment.
That said, the ATO is willing to look into flexible payment plans if you report by the due date. However, only payments made by 7th
September 2020 will be deductible.
We urge you to take action now.
The ATO now actively monitors employer superannuation commitments are being met. To avoid fines and penalties, make sure you meet your
obligations by the due dates.
Contact us if you require any assistance or have questions regarding the amnesty or need help with the administration of your superannuation payments.
Just a reminder Vic Business Support Fund Stream Two is available to small businesses in any sector that meet the standard eligibility
criteria and are enrolled as eligible participants in the Commonwealth Government’s JobKeeper payment scheme. Almost all businesses who are
eligible for Job Keeper should be able to access this one-off grants of $10,000. Speak with us today. #elitebookkeeping #supportlocal
Do you know a business struggling to see if they are eligible or need assistance to set up their software to get the JobKeeper payment;
Elite Bookkeeping can assist. Even sole traders who do not have employees can be eligible. However, the ATO requires businesses to do
particular tasks to receive payments, including having your payroll and accounting software set up correctly. The team at Elite Bookkeeping
has the resources, training and expertise to make this a smooth operation for any business of any size. Trust who you have always trusted. #jobkeeper#elitebookkeeping#supportlocal#traralgonbookkeeper#salebookkeeper
We are keeping up to date with Federal and State Government announcements, employment issues and cash flow planning options. We are also in
regular contact with the multiple professional bodies, financial and workplace relations consultants to stay informed about issues affecting
business like yours.