Find the latest news on how COVID-19 is impacting businesses. Check in here to see our latest commentary.

Government support packages

Victoria introduces additional Covid-19 business support.

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4 August | Victoria announces Stage 4 restrictions

On 2 August 2020 Victorian Premier Dan Andrews announced a state of disaster for Victoria along with stricter stay at home rules. This was followed on 3 August 2020 by further announcements regarding restrictions for businesses.

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29 June | Change is coming to South Australia’s economic engine room

South Australia’s economic engine room is headed for a major upheaval that will reshape the SME landscape as we know it.

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24 June | Accessing and leveraging the second Cashflow Boost

It feels like only yesterday we were discussing the initial stimulus package from the Federal Government and the first Cashflow Boost of up to $50,000.

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19 June | International tax in the time of COVID-19

William Buck Tax Services Director Sharon Grice answers some questions commonly asked by her clients regarding international tax matters in the time of COVID-19.

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12 May | Victoria passes COVID-19 land tax relief and commercial tenancy obligations

On 1 May 2020, the Victorian Government passed the COVID-19 Omnibus (Emergency Measures) (Commercial Leases and Licences) Regulations 2020 (Regulations).

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11 May | Early access to superannuation: what are the risks?

We are experiencing challenging times and extreme levels of uncertainty at present and while Canberra’s early release of superannuation initiative will benefit many, here we explain why it’s important to exhaust other options first.

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11 May | Venture Capital in the wake of COVID-19

As Australia begins to re-open in the wake of COVID-19, there’s much speculation about the economic impact of the pandemic. With $33 billion of assets under management, venture capital (VC) and private equity are key contributors to our national economy but what does a post-pandemic world look like through the eyes of a venture capital firm?

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1 May | Not for profit COVID-19

Many charities’ operations are affected by COVID-19. This might mean that some or all of them might need to be modified or even temporarily halted. 

The Australian Charities and Not-for-profits Commission has stressed the importance of charities keeping stakeholders informed about what they are doing and why. 

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30 April | Medical Industry COVID-19 FAQs

Each William Buck office has a dedicated team specialising in the health industry. Working with over 1,600 clients across Australia, our advisors help practitioners and health care corporates achieve their business and personal goals.

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30 April | JobKeeper Program – Startup-specific issues and FAQ

Many startups are scratching their heads wondering if they actually qualify for the program and what do they need to do to be paid JobKeeper.

The purpose of this article is to provide insight on some of the most commonly-asked questions we have received from the tech sector over the last few weeks about how the JobKeeper measures apply to startups and scaleups.

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29 April | Everything startups need to know about the JobKeeper 'alternative test’ to qualify

Since startups can scale rapidly, many of them are unable to rely on the “basic test” demonstrating a 30% decline in turnover in a particular month or quarter this year to the same month or quarter last year.

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29 April | Can the construction industry drive the economic recovery from COVID-19?

The property & construction industry has underpinned Australian economic growth for much of the 2000s. It is therefore reasonable to expect that its ongoing success is paramount to supporting Australia’s economic recovery from the COVID-19 pandemic.

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23 April | What startups need to do with their finances to survive the coronavirus

The coronavirus has dealt the world a one-two punch of a deadly health crisis combined with a devastating economic blow. Panic is setting in as hospital systems around the world are placed under tremendous strain whilst economies grind to a halt as shutdowns set in.

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22 April | Thriving through Quarantine

As our country locks down and migrates indoors to flatten the curve, our consumer-based economy is suffering. We could be heading into a worldwide COVID-19 recession with the Australian Bureau of Statistics (ABS) expecting more than 80% of Australian businesses to be adversely impacted before the end of April.

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22 April | Support in the eye of the COVID storm

How do you focus on crisis management and business continuity when the health and safety of your family, friends and communities are at risk? It’s a question that business leaders worldwide are having to grapple with every day during the COVID-19 pandemic.

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19 April | Some considerations for SMSF landlords providing rental relief during COVID-19

Recent developments due to COVID-19 have seen an array of rental reductions, waivers, and deferrals offered by landlords across the country for commercial and residential tenancies.

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15 April | Flawed JobKeeper Payment could cause more harm to small businesses

Australia’s JobKeeper Payment will be a saviour for many businesses and their employees, but draft rules implementing the initiative contain a fatal flaw that will likely mean thousands of employees of small businesses miss out on the $1500 payment.

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14 April | Which sectors will be hardest hit by COVID-19?

COVID-19 has had a significant economic impact, the likes of which have not been witnessed for many generations.

The spread of COVID-19 has caused economies to slam on the brakes, causing enormous ripple effects through the global economy.

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10 April | Business hibernation strategies

Businesses around the world are finding themselves in unchartered waters.

COVID-19 is having an unprecedented effect on business everywhere. For some businesses their supply chains have been impacted while for others, demand for their product or service has entirely dried up overnight.

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10 April | SA Govt $10,000 Small Business emergency cash grant

The South Australian grants apply to businesses with a payroll of less than $1.5 million, and not entitled to a payroll tax waiver under COVID-19 support measures already introduced by the State Government (for businesses with payrolls of up to $4m).

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09 April | Super Guarantee Amnesty – take action now!

Given the Government’s recent announcement that many employees will be eligible to access up to $20,000 of their superannuation early due to the impacts of the COVID-19 pandemic, more individuals will be closely analysing their superannuation balances.

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09 April | Federal Government releases commercial tenancies code of conduct

On Tuesday 7 April saw, the Federal Govenrment released another announcement in response to COVID-19, the Commercial Tenancies Code of Conduct. The Code establishes a mandatory framework for the landlords and tenants of SME businesses impacted by COVID-19.

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08 April | The six-month safety net for directors – is it a free pass?

As part of the Government’s response to COVID-19, company directors now have a six-month relief from any personal liability for trading while insolvent.

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06 April | COVID-19 economic response measures and how they will assist SGEs

If you are operating a significant global entity (SGE) which is being impacted negatively by the implications of COVID-19, you may be eligible to receive State or Federal Government assistance.

Below is a comprehensive list of Government response measures with commentary on whether they are available to SGEs and if so, information on eligibility and access.

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06 April | COVID-19 & Life Insurance – can I claim?

As we’ve received a number of queries from clients asking whether their insurance policies will pay out amidst the COVID-19 pandemic – our exerts have answered two of the most common questions.

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01 April | How CFOs can pro-actively respond to the COVID-19 crisis

Coronavirus is a reality that, in 2020, will directly or indirectly affect us all.

How potentially devastating could Coronavirus be for economic and business activity? Those that work in Risk Management know it doesn’t take long to reach “Catastrophic”.

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23 March | Canberra announces early access to super as part of COVID-19 ‘Safety Net’

Canberra has announced changes that have the potential to affect all superannuation fund members as part of the Federal Government’s ‘Safety Net’ package to counter the blows of COVID-19.

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23 March | Victorian Government’s Economic Survival Package – What it means for you

Last Saturday the Victorian Government released high level details of a $1.7 billion economic stimulus package.  Here’s what we think it means for you.

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19 March | No business is immune to COVID-19: practical tips for your business during a global emergency

COVID-19 is first and foremost a global health emergency, and the top priority for governments, business leaders and individuals is human safety and well-being. However, the pandemic is having a growing impact on global and Australian Businesses.

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18 March | SMEs need more Government support to survive Coronavirus impact

While Canberra this week pledged $8.7bn in business assistance as part of its Coronavirus stimulus, SMEs need more ATO support to survive the escalating pandemic.

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17 March | NSW pledges $1.6bn for business assistance

New South Wales will fund payroll tax breaks and fee reductions for small businesses as part of its $2.3 billion Economic Stimulus Package to counter the impacts of the escalating Coronavirus outbreak.

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16 March | COVID-19 and Business | The challenges and opportunities when operating in a pandemic

While the Federal Government’s $17.6 billion stimulus package is welcome news to the business sector, there is still much to be done in the boardrooms and work floors to successfully navigate the challenges of the coronavirus.

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12 March | Coronavirus Stimulus pledges $8.7bn for business assistance

Canberra funds tax breaks, wage subsidies and increased cash flow for businesses as part of its $17.6bn Coronavirus Stimulus.

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2 June| 30 June deadline remains for foreign residents to apply for the CGT main residence exemption

With EOFY tax deadlines looming and businesses preparing their routine reporting, it’s important to consider other measures and critical cut off dates that could affect you.

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9 April | Federal Government releases commercial tenancies code of conduct

On Tuesday 7 April saw, the Federal Govenrment released another announcement in response to COVID-19, the Commercial Tenancies Code of Conduct. The Code establishes a mandatory framework for the landlords and tenants of SME businesses impacted by COVID-19.

Find out more >

23 March | Victorian Government’s Economic Survival Package – What it means for you

Last Saturday the Victorian Government released high level details of a $1.7 billion economic stimulus package.  Here’s what we think it means for you.

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12 March | Coronavirus Stimulus pledges $8.7bn for business assistance

Canberra funds tax breaks, wage subsidies and increased cash flow for businesses as part of its $17.6bn Coronavirus Stimulus.

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Have any questions on COVID-19 and your business? Contact us today.