Updated: 23 March 2020
Brentnalls SA would like to reassure clients that our service to you remains unaffected and we have put in place various measures to protect our people, our clients and visitors to our office from the COVID-19. We are dealing with the environment of the COVID-19 pandemic. We are here to help you, your family and your business.
We are well informed about the various measures announced by State and Federal Governments and can help you understand how you can use these. We are available anytime to support you in managing cash flows, managing staff and managing the disruption this has on your lives.
We can help you in liaising with the ATO on your behalf to vary tax instalments and defer payments for up to six months if required. This applies to income tax, GST, PAYG instalments, FBT and excise payments.
We are also available as a sounding board if you just need to talk to someone.
On 22 March, the Federal Government announced the following new measures:
- An additional payment of $750 to pensioners, welfare recipients, veterans and concession card holders.
- An increase in the previously announced measure to help employers by refunding PAYG Withholding on employee wages (now 100% refunded previously 50%). This measure will now be a minimum of $20,000 (up from $2,000) paid in two instalments and the maximum will be $100,000 (up from $25,000). The payments will be made between April and October through the BAS and IAS system.
- A new Coronavirus supplement of $550 per fortnight for recipients of JobSeeker Payment, Youth Allowance Jobseeker, Parenting Payment, Farm Household Allowance and Special Benefit. Waiting periods have been waived and the assets test is waived for all except the Farm Household Allowance and Special Benefit.
- The Federal Government will provide guarantees for businesses with turnover up to $50 million to take out new unsecured loans to assist with cash flow. These loans will be for up to $250,000 and a period of 3 years with no repayments in the first six months.
- A reduction in deeming rates used to calculate deemed income on investments for Age Pensioners
- A reduction in minimum pension withdrawal rates from superannuation accounts so self-funded retirees can choose to draw down less of their superannuation if they wish
- Allowing tax-free withdrawal from superannuation accounts for the unemployed or people whose work has reduced by 20% or more (including sole traders). The payments are up to $10,000 before 30 June 2020 and a further $10,000 after 30 June 2020 and must be applied for through mygov.
- Changes to the corporations law to provide relief for unforeseen events arising from the Coronavirus. These include relaxing requirements for meetings and temporary relief for directors while trading insolvent.
Please note the following for our staff our visitors and clients:
- We have many of our staff, as of today working from home. While our staff work remotely rather than from our office, they will remain contactable by email, phone or video conferencing.
- Technology has allowed us to continue to be fully operational with a skeleton staff presence at our premises.
- We have the highest level of security on our computer systems and we are protecting your personal and business information just as we do in our office.
- We are offering our clients the option of having a teleconference or video meeting instead of meeting in person.
- Where in person meetings are needed, we are maintaining recommended social distancing including no shaking hands, and cleaning surfaces regularly. We have also instituted a range of hygiene arrangements in our office for staff and visitors and clients.
- We will continue to provide our clients the assistance and service we always have during this time and will be available for you.
We will update this page as and when the situation changes. If you would like to contact us for further information please don't hesitate.
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