Covid-19

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Portal assists small business recovery

The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) is ready to help SMEs emerging from hibernation and keen to make the most of easing Covid-19 restrictions. ASBFEO’s My Business Health web portal has useful information for small business owners ready to re-open or ramp up their operations. It’s a one-stop shop for state-by-state information [...]

2020-06-29T16:09:41+10:00Monday 29 June 2020|Covid-19|

WLM insights, Covid-19 updates

As the 2019-20 financial year closes, UAC accountant and business service member WLM Financial has provided useful information about tax and superannuation changes that take effect on July 1. Read more here. It is also warning that ATO is on the lookout for businesses that may have made adjustments to their circumstances to be eligible [...]

2020-06-25T15:18:21+10:00Thursday 25 June 2020|Covid-19|

Tax relief for Covid-19

Want to know what tax relief measures are available in your state or territory for Covid-19 pandemic support? Sensis, the platforms and marketing services company that owns the Yellow Pages and the White Pages, has produced a useful guide that breaks down what relief is available in each jurisdiction. Here’s a link to the article.

2020-06-19T14:23:12+10:00Thursday 18 June 2020|Covid-19|

Personal lines insurers’ responses

Business service member Finity has summarised personal lines insurers’ Covid-19 responses so far in a new article. It has particularly focused on the largest classes of business, motor and home, and included a deep dive into landlords’ cover. Author Marcello Negro considers a key question for insurers – how their top and bottom line impacts [...]

2020-06-04T15:21:18+10:00Thursday 4 June 2020|Covid-19|

Maintain security to avoid cyber attacks

With thanks to member Emergence Insurance, UAC recommends the following strategies to assist in maintaining cyber security while your staff are working from home. The cyber risks of flexible work arrangements could include malware infection, unauthorised access, data security, and insecure devices used by staff. It’s important that businesses and their staff ensure remote access [...]

2020-05-26T14:47:12+10:00Tuesday 26 May 2020|Covid-19|

Reform program stalled

Regulators have shifted their priorities to deal with the Covid-19 pandemic. That means delays to reforms and legislative changes to general insurance. UAC Business Service member The Fold Legal has issued an updated summary of the revised timetable. Click here to read more. UAC General Manager William Legge says while APRA is not issuing any [...]

2020-05-13T09:37:51+10:00Wednesday 13 May 2020|Covid-19|

IRS grants FATCA extension

The US Internal Revenue Service (IRS) has granted an automatic extension of time to entities with Foreign Account Tax Compliance Act (FATCA) certification due by 1 July 2020. The extension to 15 December 2020 is automatic within the FATCA registration system. More information is available at Q21 in the ‘FATCA certifications’ category on the FATCA [...]

2020-05-07T15:00:29+10:00Thursday 7 May 2020|Covid-19|

ATO introduces new changes to JobKeeper

Changes to the Covid-19 JobKeeper arrangements came into force on 1 May 2020 with the introduction of Coronavirus Economic Response Package (Payments and Benefits) Amendment Rules (No 2) 2020. This includes a monthly declaration of your business’s current and projected turnover. Click here to read more. Remember, there is an obligation that, within seven days [...]

2020-05-07T09:36:32+10:00Thursday 7 May 2020|Covid-19|

ATO grants JobKeeper payment extension

The ATO has given businesses an extension of time to pay their employees under the JobKeeper program. Enrolments for the initial JobKeeper periods have been extended from 30 April 2020 until 31 May 2020. For the first two fortnights (30 March – 12 April, 13 April – 26 April), ATO will accept the minimum $1,500 [...]

2020-04-29T12:26:50+10:00Wednesday 29 April 2020|Covid-19|

ASIC outlines its expectations

ASIC has written to all general insurers about its expectations in light of the Covid-19 pandemic. ASIC says it expects entities to treat customers fairly and avoid adding further financial harm or burden to consumers. The four-page letter asks insurers to be flexible and details ways insurers could do that. Read the general insurers’ letter [...]

2020-04-29T12:29:56+10:00Wednesday 29 April 2020|Covid-19|