𝗖𝗢𝗩𝗜𝗗-𝟭𝟵 𝗚𝗥𝗘𝗔𝗧𝗘𝗥 𝗡𝗘𝗪𝗖𝗔𝗦𝗧𝗟𝗘 𝗔𝗥𝗘𝗔 𝗟𝗢𝗖𝗞𝗗𝗢𝗪𝗡

In light of the recent announcement that the Newcastle Greater area will go in to lockdown from 𝟱𝗽𝗺 𝘁𝗼𝗱𝗮𝘆, our office will be temporarily 𝗖𝗟𝗢𝗦𝗘𝗗.

The expected period of lockdown is from 5pm 5 August 2021 to 5pm 12 August 2021.

During this time we will continue to provide the same services that we always do 𝘧𝘳𝘰𝘮 𝘩𝘰𝘮𝘦.

If you need to contact us during this time, please do so by email at admin@mccallumpartners.com.au or on our office phone number 02 4044 1133 where you will be prompted to leave a voicemail that will be redirected to our email.

Please remember it is early days, and we may expect further updates to today's announcement however we will continue to update you on our whereabouts as and when more information is provided by the NSW Government.

Stay safe, stay well, stay home. We're still here for you, as always.

𝑻𝒉𝒆 𝑴𝒄𝑪𝒂𝒍𝒍𝒖𝒎 𝑷𝒂𝒓𝒕𝒏𝒆𝒓𝒔 𝒕𝒆𝒂𝒎

𝗤𝗨𝗘𝗘𝗡𝗦𝗟𝗔𝗡𝗗 𝗟𝗢𝗖𝗞𝗗𝗢𝗪𝗡 𝗕𝗨𝗦𝗜𝗡𝗘𝗦𝗦 𝗦𝗨𝗣𝗣𝗢𝗥𝗧 𝗚𝗥𝗔𝗡𝗧 𝗣𝗥𝗢𝗚𝗥𝗔𝗠

The Queensland Government has recently announced that it will provide $5,000 payments to small and medium businesses across Queensland affected by the current COVID-19 lockdown (from 31 July 2021) and lockdowns in other states. This grant may be used for business expenses and cash flow support to help businesses adapt to evolving circumstances.

𝑬𝒍𝒊𝒈𝒊𝒃𝒊𝒍𝒊𝒕𝒚 𝑪𝒓𝒊𝒕𝒆𝒓𝒊𝒂

Your business needs to meet the following criteria to be eligible:

• turnover of at least $75,000

• annual payroll in QLD of up to $10 million

• 30% decline in turnover

Your business doesn't have to be located in South East Queensland, but you must satisfy the decline in turnover criteria to be eligible.

𝑯𝒐𝒘 𝒕𝒐 𝑨𝒑𝒑𝒍𝒚

Applications are expected to open in mid-August and should be made online along with your supporting evidence.

𝗡𝗼𝘁𝗲: 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗶𝘀 𝗲𝘅𝗽𝗲𝗰𝘁𝗲𝗱 𝘄𝗶𝘁𝗵𝗶𝗻 𝟮 𝘄𝗲𝗲𝗸𝘀 𝗼𝗳 𝗯𝗲𝗶𝗻𝗴 𝗻𝗼𝘁𝗶𝗳𝗶𝗲𝗱 𝘁𝗵𝗮𝘁 𝘆𝗼𝘂𝗿 𝗮𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗵𝗮𝘀 𝗯𝗲𝗲𝗻 𝗮𝗽𝗽𝗿𝗼𝘃𝗲𝗱.

Further information on eligibility criteria, how to apply and the opening date for applications will be available over the coming days.

𝑰𝒏 𝒕𝒉𝒆 𝒎𝒆𝒂𝒏𝒕𝒊𝒎𝒆...

1. Subscribe to the 𝗦𝗺𝗮𝗹𝗹 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗖𝗼𝗻𝗻𝗲𝗰𝘁 𝗻𝗲𝘄𝘀𝗹𝗲𝘁𝘁𝗲𝗿 to stay up to date with the latest information for QLD small businesses.

2. Use the 𝗖𝗢𝗩𝗜𝗗-𝟭𝟵 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗔𝘀𝘀𝗶𝘀𝘁𝗮𝗻𝗰𝗲 𝗙𝗶𝗻𝗱𝗲𝗿 to find out what additional support you may be eligible for.

The JobSaver Program Has Received a BOOST!

​On Wednesday, 28 July 2021 the JobSaver program was upgraded to provide greater support to businesses and individuals following announcements that the NSW lockdown will be extended a further four weeks. ​

​𝗝𝗼𝗯𝗦𝗮𝘃𝗲𝗿 𝘄𝗶𝗹𝗹 𝗻𝗼𝘄 𝗯𝗲 𝗮𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 𝘁𝗼 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 𝘄𝗶𝘁𝗵 𝗮𝗻 𝗮𝗻𝗻𝘂𝗮𝗹 𝘁𝘂𝗿𝗻𝗼𝘃𝗲𝗿 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 $𝟳𝟱,𝟬𝟬𝟬 𝗮𝗻𝗱 $𝟮𝟱𝟬 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 (𝘶𝘱 𝘧𝘳𝘰𝘮 50 𝘮𝘪𝘭𝘭𝘪𝘰𝘯), that have experienced a decline in revenue of 30 per cent or more, and is now set to cover an additional 1,900 businesses with 300,000 employees (which means a total of around 400,000 businesses, employing 3.3 million workers in NSW should now benefit!). ​

​𝗧𝗵𝗲 𝗺𝗮𝘅𝗶𝗺𝘂𝗺 𝘄𝗲𝗲𝗸𝗹𝘆 𝗽𝗮𝘆𝗺𝗲𝗻𝘁 𝗵𝗮𝘀 𝗮𝗹𝘀𝗼 𝗯𝗲𝗲𝗻 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝗱, with employing businesses now able to receive 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 $𝟭,𝟱𝟬𝟬 𝗮𝗻𝗱 $𝟭𝟬𝟬,𝟬𝟬𝟬 𝗽𝗲𝗿 𝘄𝗲𝗲𝗸 (𝘶𝘱 𝘧𝘳𝘰𝘮 $10,000).​

​𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗮𝗿𝗲 𝗲𝘅𝗽𝗲𝗰𝘁𝗲𝗱 𝘁𝗼 𝘀𝘁𝗮𝗿𝘁 𝗵𝗶𝘁𝘁𝗶𝗻𝗴 𝗯𝗮𝗻𝗸 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝘀 𝗳𝗿𝗼𝗺 𝟯𝟭 𝗝𝘂𝗹𝘆, and businesses can generally expect to receive funds in their accounts within 5-10 business days from their approval date. ​

​Further announcements that 𝗽𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝘄𝗶𝗹𝗹 𝗯𝗲 𝗯𝗮𝗰𝗸𝗱𝗮𝘁𝗲𝗱 𝘁𝗼 𝟭𝟴 𝗝𝘂𝗹𝘆 mean that businesses that have already received a first payment will be topped up when their next payment is due. ​

​Ready for some perspective on how our fellow NSW businesses are coping in lockdown? 𝙈𝙤𝙧𝙚 𝙩𝙝𝙖𝙣 𝟭𝟰,𝟬𝟬𝟬 𝙅𝙤𝙗𝙎𝙖𝙫𝙚𝙧 𝙖𝙣𝙙 𝟱𝟲,𝟬𝟬𝟬 𝘾𝙊𝙑𝙄𝘿-𝟭𝟵 𝘽𝙪𝙨𝙞𝙣𝙚𝙨𝙨 𝙂𝙧𝙖𝙣𝙩 𝙖𝙥𝙥𝙡𝙞𝙘𝙖𝙩𝙞𝙤𝙣𝙨 𝙝𝙖𝙙 𝙖𝙡𝙧𝙚𝙖𝙙𝙮 𝙗𝙚𝙚𝙣 𝙧𝙚𝙘𝙚𝙞𝙫𝙚𝙙 ​ 𝙗𝙮 𝙒𝙚𝙙𝙣𝙚𝙨𝙙𝙖𝙮 𝙩𝙝𝙞𝙨 𝙬𝙚𝙚𝙠. ​

​It's important to remember that if you don't quite fit the standard eligibility criteria - for example your business wasn't yet established or you were experiencing unusual trading conditions in 2019 - that you contact Service NSW directly as they may be able to provide alternative eligibility criteria as we have seen with a number of our business clients.​

​We will continue to update you as more information becomes available, as the situation changes, and if/as support packages are further upgraded.​

​𝑻𝒉𝒆 𝑴𝒄𝑪𝒂𝒍𝒍𝒖𝒎 𝑷𝒂𝒓𝒕𝒏𝒆𝒓𝒔 𝒕𝒆𝒂𝒎

COVID-19 JOBSAVER PAYMENT - APPLICATIONS NOW OPEN

APPLICATIONS ARE NOW OPEN for the ServiceNSW COVID-19 JobSaver Program

JOBSAVER PAYMENT

Yesterday, applications officially opened for the COVID-19 JobSaver and will remain open until 18 October 2021.

The JobSaver payment is an ongoing fortnightly payment to cover business costs for businesses affected by the recent COVID-19 lockdowns.

𝑬𝒍𝒊𝒈𝒊𝒃𝒊𝒍𝒊𝒕𝒚 𝑪𝒓𝒊𝒕𝒆𝒓𝒊𝒂

It is our understanding that businesses who applied, and are eligible, for the COVID-19 Business Grant, will be automatically eligible for the JobSaver payment. ServiceNSW suggests that if this is the case, you submit your JobSaver application in two weeks.

We suspect that this is so your eligibility can be automatically processed and we are expecting further information to be released around this.

Your business needs to meet the following criteria to be eligible:

✅ must have experienced a 30% decline in turnover over a minimum two-week period between 26 June 2021 and 30 July 2021, compared to that same period in 2019

✅ turnover of at least $75,000

✅ must maintain employee headcount as at 13 July 2021 and for the duration of the payment

𝑷𝒂𝒚𝒎𝒆𝒏𝒕 𝑹𝒂𝒕𝒆𝒔

The payment will be equivalent to 40% of the weekly payroll, which is worked out using the most recent Activity Statement lodged before 26 June 2021.

It will be a minimum of $1,500 per week up to a maximum of $10,000 per week. Businesses with no employees will receive $1,000 per week.

𝑯𝒐𝒘 𝒕𝒐 𝑨𝒑𝒑𝒍𝒚

You will need to apply directly via ServiceNSW or at this link

For more information, see service.nsw.gov.au/jobsaver-payment-guidelines

COVID-19 BUSINESS GRANT - APPLICATIONS NOW OPEN

APPLICATIONS ARE NOW OPEN for the ServiceNSW COVID-19 Business Grant

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐁𝐔𝐒𝐈𝐍𝐄𝐒𝐒 𝐆𝐑𝐀𝐍𝐓

Yesterday, applications officially opened for the COVID-19 Business Grant and will remain open until 13 September 2021.

This is a payment of either $7,500 (tier 1), $10,500 (tier 2) or $15,000 (tier 3) which can be used to cover business expenses and provide cash flow support until the JobSaver scheme commences.

𝑬𝒍𝒊𝒈𝒊𝒃𝒊𝒍𝒊𝒕𝒚 𝑪𝒓𝒊𝒕𝒆𝒓𝒊𝒂

Your business needs to meet the following criteria to be eligible:

✅ operating at 1 June 2021 with an active ABN

✅ turnover of at least $75,000

✅ must have incurred business costs between 1 June 2021 and 18 July 2021

✅ must maintain employee headcount from 13 July 2021 and onwards

𝑾𝒉𝒂𝒕 𝒀𝒐𝒖 𝑵𝒆𝒆𝒅 𝑻𝒐 𝑫𝒐

1. Compare your total turnover in a minimum two-week period between 26 June 2021 and 17 July 2021 to the same period in 2019

2. Ensure you have a MyServiceNSW Account and Business Profile, and ensure that they, as well as your ABN details, are up to date

3. Apply directly via ServiceNSW or by using this link

𝑾𝒉𝒂𝒕 𝑰𝒇 𝑰 𝑾𝒂𝒔𝒏'𝒕 𝑶𝒑𝒆𝒓𝒂𝒕𝒊𝒏𝒈 𝑰𝒏 𝟐𝟎𝟏𝟗?

If you do not meet the above criteria for any reason but you have been impacted, alternative tests and criteria may be available. Please contact ServiceNSW directly on 13 77 88 so that they can determine your eligibility and what you will need to do or provide to demonstrate this.

𝐉𝐎𝐁𝐒𝐀𝐕𝐄𝐑

This support grant will function similarly to the JobKeeper payment from last year, received as fortnightly payments to help maintain employee headcount. The full details are yet to be released, but here is what we know so far:

• Fortnightly payments equivalent to 40% of weekly payroll (minimum $1,500 per week, maximum $10,000 per week)

• Sole traders will receive $1,000 per week

• To be eligible, businesses must have experienced at least a 30% decline in turnover and have total yearly turnover of at least $75,000

• Applications will open from Monday, 26 July 2021

𝑴𝒚 𝑻𝒖𝒓𝒏𝒐𝒗𝒆𝒓 𝑰𝒔 𝑳𝒆𝒔𝒔 𝑻𝒉𝒂𝒏 $𝟕𝟓𝑲

If your turnover is below $75,000 you might still be eligible for the 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐌𝐢𝐜𝐫𝐨 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐆𝐫𝐚𝐧𝐭.

Please click this link for further information. Applications are expected to open from Monday, 26 July 2021.

2021 COVID-19 Support Package

The NSW Government recently announced a new grants package to help tens of thousands of businesses and people across NSW impacted by the current COVID-19 restrictions. This includes regional businesses impacted by a loss of trade during the school holiday period.

WHAT'S ON OFFER?

A: If you're a business, sole trader or not-for-profit organisation who has been impacted by the current Greater Sydney COVID-19 restrictions, you may be able to apply for up to $10,000 in grants from late July 2021. Grants can be used for business expenses such as rent, utilities and wages.

HOW MUCH IS AVAILABLE FOR MY BUSINESS?

A: Depending on the decline in turnover experienced during the restrictions, your business could be eligible for:

$5,000 for a decline of 30% or more

$7,000 for a decline of 50% or more

$10,000 for a decline of 70% or more

WHAT IS THE ELIGIBILITY CRITERIA?

A: The grants will be divided into 2 streams:

Small business COVID-19 support grant for businesses and sole traders with a turnover of more than $75,000pa but below the NSW Government 2020-21 payroll tax threshold of $1.2M, and must have fewer than 20 full time equivalent employees

Hospitality and tourism COVID-19 support grant for tourism or hospitality businesses with a turnover of more than $75,000pa and an annual Australian wages bill of below $10M

Full eligibility criteria has not yet been made available.

HOW CAN I APPLY?

A: Applications will be available via the NSW Service App or website from late July 2021. We will remind everyone as further information becomes available and when the application link is released.

As always, if you need a hand with your application or to decipher the small-business jargon, we are more than happy to help and look forward to hearing from you.

Your team at McCallum Partners

Sources:

Service NSW>Apply for a COVID-19 business support grant

NSW Government>COVID-19>Businesses and employment>Grants and loans>2021 COVID-19 Support Package

HAPPY NEW YEAR

HAPPY NEW YEAR to our friends, families, clients, colleagues and community!

Wherever you may be, may your drink be full, your sparklers bright and may 2021 be the start of a truly New Year!

Join us as we say “see ya NEVER, 2020!”

MERRY CHRISTMAS

The team at McCallum Partners would like to pass on their best wishes for the holidays, and for health and happiness throughout the coming year! 🎄

We will be back in the office from Monday, 11 January 2021.

End of Year Closure

Well, the time is almost here to close the office doors for another calendar year - and what a year it has been!

Stepping in to 2020 we continued to face a bushfire season most of us had never seen before, and then BAM, COVID-19 hit the world and changed it quite possibly forever.

As business accountants, we saw the resilience and perseverance of some, the destruction and heartbreak of others and those that would never have survived had it not been for hard work, assistance packages, continuity plans, but more importantly the support network around them of which we have had the honour of being apart of for so many small and medium businesses in the Hunter & Lake Macquarie region (and beyond!). We call it an honour because it truly has been.

Thank you to our valued clients, friends, colleagues and community for letting us in to your worlds when they may have been falling apart. Thank you for letting us do what we do best for you. Perhaps we helped to keep you afloat, but by allowing us the opportunity to do that, please know that we stayed afloat because of you.

To our small, close-knit team at McCallum Partners: we couldn’t have made it through without you. Thank you for adapting, for getting up in this, “the year that was”, and getting on with it regardless of where you physically had to do that from. As a team we worked hard not only for our business, but so many around us and it’s been a pleasure to do that together.

Our wish is that all of us can now take a moment to recharge, reset and come back to ourselves a little: a proverbial “feet up on the table” rest if you will. For a magical Christmas and New Year, for a better year ahead, for improved or continued success, happiness, health and wealth. That is our wish for you.

Our office will be closed from Thursday, 24 December 2020 and will reopen Monday, 11 January 2021.

We look forward to seeing you in the New Year.

The Team at McCallum Partners

Do You Need a Covid-19 Safety Plan?

Are you in the hospitality industry OR an indoor gym?

If you are, it is now compulsory for businesses in these industries to have a COVID-19 Safety Plan and to be registered as a COVID Safe Business.

Inspectors are checking businesses; fines apply and businesses that don't follow the rules may be shut down.

Even if your business does not identify in either industry, you can still complete a safety plan and register as a COVID safe business to ensure you stay open and show your customers, clients and staff that you take their safety seriously.

✅ To register your business: https://www.nsw.gov.au/covid-19/covid-safe-businesses

✅ If COVID-19 is linked to your business: https://www.nsw.gov.au/covid-19/covid-safe-businesses/guidance-for-businesses-linked-covid-19-cases

JobKeeper Payment Extension

Yesterday it was announced that the JobKeeper Payment would be extended by a further six months, to March 2021.

Support will be targeted to businesses and not-for-profits that continue to be significantly impacted by the Coronavirus. However reduced payment rates and additional eligibility criteria will apply from 28 September 2020.

More information can be found via the Australian Government's factsheet which can be found here

As always, we plan to assist our clients to determine their eligibility and meet their obligations.

Please contact us if you need a hand navigating the upcoming changes, or if you believe you are eligible and have not already enrolled for JobKeeper payments.

It's EOFY! 🥳

Time to take a breath and reflect on the last 12, and particularly the last 6 months. Whether you're a small business or individual, no doubt you have been affected in some way.

We saw businesses flourish and adapt in ways they've never been tested to implement, and we saw businesses lose everything they've worked so hard to build. To say it's been an unsettling year is very much an understatement.

BUT a new financial year is upon us, and we look forward to keeping our wheels rolling to help our clients (and YOU) tidy up this last year, and work towards a stronger 2021.

Tonight it'll be time to close the books for the 2020 financial year (slam them shut if you need to).

As always, McCallum Partners are with you all the way.