There is no doubt that COVID-19 has taken an enormous toll on Aussie businesses.
And, unless you’ve had your head in the sand for the past couple of months, you’ll know that both State and Federal Governments have bent over backwards to put packages and programs in place to ease the burden on businesses affected by isolation restrictions.
As a business owner myself, I know the hardship that the majority of small businesses are going through. The old adage of ‘times are tough’ is never more appropriate than it is now.
However, the light at the end of the tunnel is shining a little brighter with the introduction of the stimulus package, JobKeeper, and State Government grants provided to eligible businesses.
So, have you applied for either yet?
Or, are you unsure how to go about it?
If it’s the latter, your bookkeeper should be the first person to contact.
At Being Accountable, we have dedicated the last few months to understanding the ins and outs of JobKeeper and other important stimulus packages available. And although it seems to change daily, we are thoroughly conversant with every aspect and can advise you accordingly on the Cash Flow Bonus, JobKeeper, and let you know what else is on offer.
In fact, we’ve been consulted by other bookkeepers and accountants.
Did you know that with Job Keeper there are alternative tests that take into account your business’s growth in the past 12 months? Or that if you have a new business that’s under twelve months old, you may still be eligible?
There are ways of proving a decline in income. It’s just a matter of sitting down with us and determining which way to proceed.
You need tidy and up-to-date financial records to claim your entitlement (up to $50,000) or to borrow government-backed money. Funding will be released shortly, so if you’re not ready, you need to get ready ASAP.
We are also across the State Government Grants Program that is available for small businesses. There is a criteria that must be met for eligibility, and we can also advise on what you need to do.
Being Accountable is a bookkeeping service and registered BAS agent based here in Adelaide. If you’re wondering how to claim from the State and Federal Government’s financial stimulus programs, or need help getting your books ready to make a claim, please get in contact with us today.
About the author
Jo Williss is the owner of Being Accountable. She is an experienced bookkeeper, licensed BAS Agent and a previous SMSF SA Bookkeeper of the Year.