Business Update – 15 September 2021
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you.
Vaccine Passports for International Travel
The government has taken a major step towards establishing a vaccine passport for international travel. Last week, it was announced that the system that will enable recognition of vaccine status should be ready in a number of weeks. According to the tourism minister, Dan Tehan, it will allow Australians to use MyGov to upload proof of vaccination to a QR code linked to their passport.
Canberra Lockdown Extended Until 15 October
Canberra will remain locked down for a second month until 15 October, after recording new COVID-19 infections.
Part of Regional Victoria Back Into Lockdown
The city of Greater Ballarat will be sent back into lockdown from 11.59pm on 15 September due to the increase in COVID-19 cases. The lockdown will remain in place for seven days. Meanwhile, those living in the 12 Sydney LGAs of concern have been rewarded with a slight easing of restrictions.
Super Weekend for Vaccinations in Queensland
The QLD government has announced a “super weekend” for vaccinations this coming weekend, wherein all community hubs will be open and walk-ins are welcome.
COVID-19 Government Support By State and Industry
Small businesses that are currently suffering from lockdowns can get financial assistance to help them get through the pandemic. You can find the latest government support schemes for each state or territory here.
The impacts of the COVID-19 restrictions vary from one industry to another. Here you’ll find the latest government financial assistance available for particular industries.
All Australian hotspots: COVID-19 Disaster Payment for recognised lockdowns
This Federal Government support is lump sum payment for workers who cannot earn income because of a state public health order. You can check your eligibility here.
The NSW Government will be offering financial support to businesses or not-for-profit organisations impacted by the recent COVID-19 restrictions and stay-at-home orders.
NSW: Micro-business grant
The micro-business grant is a $1500 fortnightly payment for businesses with a turnover between $30,000 and $75,000.
To check your eligibility and apply, visit the Service NSW website.
COVID-19 Business Grant
A one-off payment to help businesses, sole traders or not-for-profit organisations impacted by the current Greater Sydney COVID-19 restrictions.
Grants between $7,500 and $15,000 are available to eligible businesses depending on the decline in turnover experienced during the restrictions. For eligibility criteria and to apply, visit the Service NSW website.
ATO support for those affected by COVID-19 restrictions or disasters
The ATO has a range of support options to help those affected by disasters or those experiencing challenges due to continuing COVID-19 restrictions.
The ATO may be able to:
- prioritise any refunds owed to you
- set up a payment plan tailored to your individual situation
- remit penalties or interest charged during the time you have been affected.
If you need help to manage your tax or superannuation obligations, please get in touch with us.
JobMaker Hiring Credit
Eligible employers can access the JobMaker Hiring Credit for each eligible additional employee they hire between 7 October 2020 and 6 October 2021. You may be able to claim the following payments:
- up to $10,400 over a year for each additional eligible employee aged 16 to 29 years
- up to $5,200 over a year for each additional eligible employee aged 30 to 35 years
Register before the due date of the first JobMaker period you’re claiming for.
Wage Subsidy Scheme for Apprentices and Trainees
The government is continuing the wage subsidy scheme for apprentices and trainees. Under the scheme, the government will pay half the wages of apprentices up to a maximum of $7,000 each quarter for 12 months.
How Business Leaders Can Prevent the “Great Resignation”
The pandemic has turned our lives upside down, and many of us are responding by making significant changes in our personal and professional lives. With people becoming increasingly confident that they can find better work, the “Great Resignation” has ensued.
This Forbes article outlines some ways employers can stop the mass exodus:
- Listen and learn. Gauge your employees’ well-being. Check how they’re doing on a regular basis and find out what they need for personal and professional growth.
- Coach to mitigate burnout. Many people leave their jobs because of burnout. So review your wellness benefits or consider adding more. You might also want to identify at-risk staff and offer mental health hours to step away from work.
- Invest in flexibility. It might not be easy for small businesses to provide extremely high pay, but you can at least offer work flexibility. If you can ease up on conventional standards of when and where your employees work, they are more likely to stay.
In a nutshell, it boils down to one thing: put your people first. If you need more focused business advice, get in touch with us today and let’s work out a plan!
Get in touch
Contact us if you have any questions or want to discuss the next steps for your business.
Oracle Accounting & Wealth is located at Suite 31, 89-97 Jones Street ULTIMO NSW 2007. Phone: 02-9715 2977
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The information in this newsletter / factsheet is factual but general in nature. It should not and is not to be construed as advice at any level whatsoever. Because it contains general information that has not been tailored to your personal circumstances it may not be suitable information for you. You must always seek personal financial or taxation advice prior to acting on this information. Further, as many of the comments in this newsletter / factsheet are general in nature, anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.