Response to Impact of COVID-19

The business disruption of COVID-19 is real and moving fast.  We understand the social and economic implications this is causing and the importance of implementing management policies and strategies to get through this crisis from a financial and operational perspective.

How we can assist you

The significant threat of COVID-19 and its impact on many businesses is of huge concern. The current uncertainty of the global economy is creating risks that entities may not have encountered before. Management and governance bodies need to assess:

• What type of financial effect might COVID-19 have on my entity?  
• What do cash flow forecasts look like with new business disruption assumptions and worst case scenarios previously not contemplated?
• What levers can I pull to improve cash flows during the crisis?
• Is my entity still a going concern having taken into account the above?

Maintaining control over finances and financial reporting is more important than ever. We are here to assist you and advise you during these uncertain times. Please feel free to contact us if required.

 In addition to the links below , we will forward to you in due course a summary of the latest tax and cash flow incentives we have prepared which are available to many businesses.  

• Business.gov.au:  released some more details on each assistance measure, with some basic examples –  https://www.business.gov.au/Risk-management/Emergency-management/Coronavirus-information-and-support-for-business

• ATO: released Support measures to assist those affected by COVID-19 –   https://www.ato.gov.au/Media-centre/Media-releases/Support-measures-to-assist-those-affected-by-COVID-19

• Australian Banking Association: released Help on offer for small businesses financially affected by coronavirus –   https://www.ausbanking.org.au/coronavirus-statement-from-the-aba/

• Fair Work Ombudsman: released Coronavirus and Australian workplace laws, which may be relevant for your clients with employees –  https://www.fairwork.gov.au/about-us/news-and-media-releases/website-news/coronavirus-and-australian-workplace-laws

The greatest thing we can do for you, our clients is talk to you about how to solve your most challenging problems right now. Whether it is managing and shoring up cash flow; taking advantage of the SME tax concessions recently announced; assisting with meeting reporting obligations or just acting as a sounding board.  We are here for you!

Our teams are working remotely

We have taken the measure for our staff, were possible, to work remotely until further notice. Our staff have been equipped with the necessary equipment to work remotely and are readily accessible via email and telephone. We will be conducting all face-to-face meetings  remotely via telephone, teleconference or video conferencing. We are adapting to this new working arrangement by increasing the usage of online platforms to communicate and share information between staff and clients in different locations.