The ABSA Board is very conscious that many of our members may experience a downturn in business and revenue in the current environment and into the foreseeable future. For this reason, ABSA staff have been busy researching and locating resources and information that you may find valuable and helpful in the coming months.
The information and resources in this database are provided with the intention of helping you alleviate some of the stress and financial hardship that Australia (and the world) is currently faced with.
A message to members from the ABSA board
This webinar series is hosed by Design Matters, who have kindly invited ABSA members to join. ABSA encourages members to take advantage of this opportunity.
The following is a list of information, resources, Government and ATO and Banking Sector business stimulus and financial relief measures offered to help you and your business through this challenging time:
The latest round of Government funded assistance has provision for sole traders, along with those with employees.
From the NSW State Government web site, this link offers advice relevant to all states. Topics include:
Managing cash flow problems
Small business loan deferred repayments
How to prepare your business if you get sick
Where to find business advice
Navigating red tape
From the Australian Consumer and Competition Commission. Topics include:
Rights and obligations of business and consumers (remembering that many small businesses are also consumers)
Cancellation of functions and events
Supply and pricing
From Nexia, this link provides a long list of assistance initiatives relevant to members.
From the Australian Banking Association, this link provides information on a the Small Business Relief Package
From Chartered Practicing Accountants Australia, this link offers information regarding potential risk and how to mitigate or manage them, together with a proactive action list.
From the Australian Taxation Office, this link provides information on the measures to help the economy withstand and recover from COVID-19. Topics include:
Enhancing the instant asset write-off
Backing business incentive
Boosting cash flow for employees
Temporary early release of superannuation
Temporarily reducing superannuation minimum drawdown rates
From Chartered Practicing Accountants Australia, this link offers a working contingency plan checklist
From Chartered Practicing Accountants Australia, this link offers a templated work sheet to help you identify potential risk, financial impact and develop mitigation strategies
What business is doing to help employees and the community