Coronavirus Update 23-03-2020

CIA tax are open and will always remain open even if we all lock down.

We are constantly checking emails and taking calls (over the weekends as well) to be there for our clients through these different times.

Stay positive, some industries are really booming and some are really hurting, for those that hurt the Government has really stepped up (as we predicted) with stage 2 as follows:  

Supporting Individuals and Households The Australian Government is providing financial assistance to Australians. This assistance includes income support payments, payments to support households and temporary early releases of superannuation. Income support for individualsPayments to support householdsTemporary early release of superannuationTemporarily reducing superannuation minimum drawdown ratesReducing social security deeming rates  

Support for Businesses The Australian Government is supporting Australian businesses to manage cash flow challenges and retain employees. Assistance includes cash flow support to businesses and temporary measures to provide relief for financially distressed businesses. Boosting cash flow for employersTemporary relief for financially distressed businessesIncreasing the instant asset write-offBacking business investmentSupporting apprentices and trainees  

Supporting the Flow of Credit The Government, the Reserve Bank of Australia and the Australian Prudential Regulation Authority have taken coordinated action to ensure the flow of credit in the Australian economy. Timely access to credit is vital for businesses to manage the impacts of the Coronavirus.  

State governments are also stepping up with payroll tax refunds and land tax delays. Contact us for your State based assistance’s and we will provide them individually rather than listing all the different States in Australia’s responses.

There is plenty of hope. Every Wednesday at 6pm our senior partner Dr Steven Enticott is on his Facebook live with an update and for questions of any sort. This week it is an update and “Review, Reflect & Re-Direct” in all likelihood we will all be locked down for a period of time to re-think.

Our senior partner (Steven Enticott) is also the Chaplain at the Sandringham Football Club and is always open for a chat on any mental health or spiritual issue.

Keep smiling, tide always turns.