COVID-19 Wage Subsidy Extension Government has announced a change in criteria from a 50% revenue drop to a 40% revenue drop. This means you must have had a revenue loss of at least 40% for a continuous 30 day period. This period needs to be in the 40  days prior to your application (but no earlier than 10 May 2020) ...
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COVID-19 Business Debt Hibernation The COVID-19 Response (Further Management Measures) Legislation Bill has passed into law and introduces a ‘Business Debt Hibernation’ process. Business Debt Hibernation allows businesses affected by COVID-19 disruptions to place their existing debts on hold for up to 7 months to help them start trading normally again, rather than putting in place potentially irreversible processes such ...
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LOSS CARRY Backs A temporary loss carry-back scheme has been introduced to support customers in the current uncertain economic environment. The commentary to the Bill can be found here. Businesses expecting to make a loss in either the 2020 year or the 2021 year can use that loss to offset profits they made the year before. In other words, they ...
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COVID 19 Business Planning ­ Business planning is essential in today’s environment. Our Business Planning service will provide business owners with professional support and advice to help minimise impacts COVID-19 will have on their business. We can support business owners by developing a plan of how they will operate over the coming months and how to maximise entitlements to Government ...
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COVID 19 Cashflow Management GOT A QUESTION? SEND US A MESSAGE ­ Business survival is centred around Cashflow Management. A clear understanding of the money coming in and out of your business has never been more important than right now. Hunter McLeod are offering one-on-one business support to help business owners understand and manage their cashflow position. We will examine ...
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INTEREST FREE Loans Latest Development The Small Business Cashflow (loan) Scheme has been extended until the end of 2020. Applications opened on 12 May 2020 and can now be submitted up to and including 31 December 2020. Organisations and small to medium businesses, including sole traders and the self-employed, may be eligible for a one-off loan with a term of 5 years ...
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Covid19 TAX Changes Many of these changes implemented by the Government will help with your business cashflow and will also assist with the economic recovery from COVID-19. Depreciation on Commercial Buildings This applies form 1 April 2020 on all commercial and industrial buildings. It does not apply to residential buildings (ie long term rentals and short-term rentals like Air B&Bs) ...
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