What a year it has been so far.  We thought that it was important for us to remind you that we care about our client’s psychological well-being as well as financial well-being.  For those who are managing the stress of working from home, reduced income and an uncertain economic future, we understand completely how difficult it is.

Thankfully a wide range of assistance is available to help us get through these unusual circumstances.

  1. Majority of banks have put together Coronavirus support for businesses, including refund of merchant fees, moratorium on loan repayments and offering unsecured Business loans for working capital purposes.
  2. Housing Victoria has provided ‘’Coronavirus Rent Relief Grant’’ for up to $3,000 for people experiencing rental hardship
  3. Department of Health and Human Services also provides ‘’Utility Relief Grant’’ for eligible accountholders for up to $650 in a two-year period
  4. Beyond Blue which provides mental well-being services has a dedicated line to provide support for people struggling to cope during the pandemic
  5. National Debt Helpline also provide free services for people who need any form of debt management assistance
  6. JobKeeper #2 is about to be rolled out
  7. ATO Cash Flow Boost still has payments until end September
  8. Another round of Support Grants to be issued from the Victorian Government
  9. The ATO are being very understanding about outstanding debts and lodgements (at the moment)

When we have Treasury clarification on the new round of assistance that is being rolled out by end of September, we will keep all clients updated further, just as we have since the beginning of the pandemic.

Until then, please all stay well and let us know if we can help you in any way.

 

Fenting Lin – Accountant

CPA