Australia’s Small Business Sector Needs to Create 210,000 More Jobs to Ensure Full Economic Recovery
New research released by Xero on Wednesday 5th May illustrates that Australia was one of the fastest recovering economies in the world during the second half of 2020. It has been revealed that only 210,000 more jobs need to be created across Australia’s small business sector by the end of this year to drive a […]
The Show Starter Loan Scheme Aims to Boost Australia’s Creative Economy
Announced in December 2020, The Show Starter Loan Scheme is a $90 million loan project established by the Australian Government. The scheme aims to give creative economy businesses access to finances which will make it possible for them to create new productions and events which will result in job creation and economic activity. The scheme […]
Government Support For The Arts During Covid-19
Last year, as part of the 2020-21 federal budget, the Australian government announced around $800 million of additional funding to support the nations creative and cultural sectors. Screen Australia has been given access to $33 million to support the continued development and production of Australian content. This funding consists of $30 million to support Australian film and […]
The Australian Government Expands Support Package to Assist the Arts and Entertainment Sectors
On Wednesday 24th March, the Australian Government announced additional targeted support package worth $135 million aimed to predominately assist people working in the arts and entertainment sectors. This scheme is called “The Restart Investment to Sustain and Expand Fund” or is commonly referred to as “RISE”. The additional funding comes at a crucial period of […]
The Australian Government Has Extended the SME Responsible Lending Exemption
The Australian Government has announced an extension of the SME responsible lending exemption. This announcement comes following delays to the passage of new laws that will consequently remove responsible lending obligations for banks. The SME responsible lending exemption was set to expire on 2nd April 2021 having been originally introduced in March 2020 at the […]
Advice for Business Owners Who Are Preparing for The End of JobKeeper
The Australian Government will be ending the JobKeeper scheme on Sunday 28th March. Here are some tips to help business owners prepare for life after the wage subside. Review Your Cash flow With as much detail as you can, it is advised that business owners put together a forecast for the next few months. Get […]
Boosting the Creative Economy and Employing Australians In Entertainment Sectors
In a bid to boost the creative economy, the federal government announced the $250 million support package called “The Covid-19 Creative Economy JobMaker Package” on 25th June 2020. This support package includes a $90 million Show Starter Loans Scheme. These much-needed support packages are being delivered as part of the Coronavirus SME Guarantee Scheme. The […]
Struggling Businesses Are Concerned About What the End of JobKeeper Will Mean for Their Future
Struggling businesses and their employees are concerned about what is going to happen to them once JobKeeper ends on the 28th March 2021. Economists are predicting that over 100,000 jobs could be lost when the government ends the covid-19 welfare supplement later this month. When covid-19 shattered Australia’s economy in March 2020, millions of people […]
Tax in the sharing economy
Have you ever let a room on the popular accommodation site Airbnb? Ever shared a ride with pseudo taxi service Uber? If you participate in what’s now called the “sharing economy”, you may have some tax to pay. The Tax Office says the sharing economy is a new way of “connecting buyers (‘users’) with sellers […]
Storm clouds on the horizon?
As the economy starts to see the signs of distress are there clouds on the horizon of your business? Some of the earlier indicators are the longer it is taking to pay bills, customers are taking longer to pay or you are using personal money in order to pay the debts of the business. There […]