Business Update – 9 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.
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.
Regional Victoria Leaves Lockdown
Victorian Premier Daniel Andrews has announced restrictions will ease across regional Victoria, except for Greater Shepparton, from 11:59pm Thursday night.
This means travel will be allowed around Victoria with no distance limit, but movement between Melbourne and the regions is restricted. A maximum of 10 people will be allowed for public outdoor gatherings, and outdoor tours will be capped at 20 people.
Religious gatherings and ceremonies will be capped at 20 people and weddings will be limited to no more than 10 people. In-home visits are still not allowed in regional Victoria, and masks must still be worn indoors and outdoors.
You can find a comprehensive list of the new rules here.
Parts of NSW to Come Out of Lockdown
The Mid and North Coast of NSW, as well as areas across the Riverina, and the Murrumbidgee regions, will all be free from lockdown restrictions on Friday at midnight. Regional travel is set to resume when 70% of the state’s adult population has been fully vaccinated.
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.
4 Easy Ways to Provide More Value for Your Customers
Customers choose you over your competitors because you provide the most value. As competitors find ways to make their offerings more appealing than yours, you should also implement some strategies to provide even greater value than you already do and retain customers. This Forbes article shares some tips on how you can achieve this.
- Become a niche authority. Establish yourself as an authority in your niche and provide solutions or insights to their pain points through blogs and social media posts.
- Ask customers for feedback. Obtain honest feedback from customers to discover how you can add even greater value and improve customer experience.
- Proactively customise your offerings. A one-size-fits-all approach doesn’t always work. Understand what each client needs and tailor your services accordingly.
- Reward loyalty. If you want to gain repeat customers, find ways to reward their loyalty. Provide incentives and devise a rewards system.
As you try to make your customers happier, your business becomes more memorable and valuable for them. Therefore, it’s a win-win situation!
Need more focused business advice? Get in touch with us today and we can talk about your situation.
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.