COVID-19 Mandatory Commercial Tenancy Code - what’s involved?

The Federal Government has released a mandatory code of conduct for commercial leasing arrangements, to take effect from 3 April 2020 for the same six-month period as the JobKeeper program. Commercial tenancies include retail, offices, warehousing and industrial leases. The new code affords tenants a combination of rent waivers and deferrals What does it mean for tenants? Commercial rent relief eligibility is in line with the JobKeeper Payment scheme. (small businesses with less than 50 million in turnover, who have experienced a reduction in turnover by more than 30%). Leases can’t be terminated for non-payment of rent. Rent reductions will be proportional. If your turnover is down by 50% t

Your March quarter activity statement is due soon

Your March quarter activity statement is due soon. If you are lodging your own quarterly activity statement you need to lodge and pay by the 28th of April. If you lodge using our registered agent electronic services you will have until the 26th May of to lodge and pay. Make sure you have checked off the following: Have you allocated all bank transactions to the correct accounts? Have you verified that the bank balance listed in your accounting software matches the balance in your bank account? Do you have tax invoices and receipts for all business-related transactions? Have you checked the GST tax codes for all transactions? Have you checked tricky transactions like agency arrangements, insu

JobKeeper Payment - rules announced

The JobKeeper payment is for businesses and not-for-profits that are significantly impacted by the Coronavirus pandemic, and the measures in place to restrict it. The government package will give eligible employees $1,500 per fortnight for 26-week period, running from 30 March to 27 September. The treasurer has now released rules governing the scheme. We will keep you informed as these are updated. The one in, all in rule - Employers who opt to participate in the JobKeeper scheme must ensure that all eligible employees are covered. This includes all eligible employees who are undertaking work for the employer or have been stood down. The employer cannot select which eligible employees will p

Supporting your family and team through the lockdown

Many of our clients have been busy ‘firefighting’ and haven’t had a chance to document a clear plan beyond this critical phase. Hopefully the initial shock of going into lockdown is fading and you have capacity to consider what you can do to mitigate the impact of Covid-19 on your family and your team. Your resilience is a priority You must put the oxygen mask on yourself first, otherwise you’re not much use to anyone. Try to maintain a daily routine as much as possible; including getting adequate sleep, sunshine and fresh air. Your family always come first Include them in your plan and communicate openly. For those of you with children, you may be juggling work with supporting their e-learn

Your March quarter superannuation guarantee contribution is due soon

Prepare now for your quarterly superannuation guarantee (SG) contribution lodgement and payment. Here’s what you need to review: Have you allocated all payroll related bank transactions to the correct accounts? Have you checked for errors such as duplicate pay runs? Have you checked that all payroll categories used this quarter have had super correctly applied or excluded? Have you checked superannuation accrual reports for accuracy? Do you have any salary sacrifice amounts to include? Have you had to make any termination payments this quarter? If so, check which payroll categories have super calculated or exempted. Do you have complete and up-to-date contact details and a super choice form

The JobKeeper Payment - support for Australian businesses and sole traders

The Government has announced a new measure to support Australian businesses, employees and sole traders. The JobKeeper Payment aims to support businesses to maintain their income and connection with employees. These connections will enable businesses to reactivate their operations quickly after the crisis is over. The JobKeeper Payment Eligible businesses will be able to claim $1,500 from March 30th, per fortnight per eligible employee for a maximum of 6 months. Payments will flow from the first week of May but will be backdated to March 30th. Who is eligible? The Jobkeeper Payment will be available to full-time workers, part-time workers, sole traders and casual workers (casual workers must

Providing Disaster Relief for Australian Bushfires

Australia is in the midst of an unprecedented fire season that has affected millions of acres, destroyed thousands of structures, and claimed dozens of human lives. The so unique Australian wildlife is affected even worse with a preliminary estimate suggesting that almost a billion wild animals are affected.

At Grand Financial solutions we are supporting all those affected by the bushfires through our Making An Impact program. When you choose to do business with us we will make a donation on your behalf. You will plant one tree to restore the unique Australian flora and the rest will be split equally between helping restore affected communities through BlazeAid and treating injured wildlife with the help of the Australia Zoo Wildlife Warriors.

Together we can make a difference. 

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Jo Grandovec, Credit Representative Number 487529
My Local Broker Pty Ltd, ABN 16 616 420 378 Australian Credit License 481743