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COVID-19
Updates
Below are some articles to assist our great clients in navigating this uncertain time. We are here to support you during this unprecedented time, please contact your Nexia Edwards Marshall Advisor to discuss.
Jul 22, 2020 / News
JobKeeper 2.0 – Beyond the facts & figures: what you need to do
JobKeeper was necessarily designed and implemented in a very short time-frame, and so some waste had to be accepted in return for haste. Treasury has now had the opportunity to review the program. The government yesterday announced plans for a second phase of the JobKeeper program for business. However, the eligibility criteria will be tightened, and it will be more precisely targeted. Read more
Jul 14, 2020 / News
Companies shouldn’t be tempted to disclose EBITDAC(ovid)
The COVID-19 pandemic has had a significant effect on many businesses and some have been wondering whether they can highlight the impact of COVID-19 and report Earnings Before Interest Tax Depreciation Amortisation and COVID-19, or EBITDAC? Read more
Jul 07, 2020 / News
Accounting for government COVID-19 support packages
Many companies have accessed JobKeeper and other government support packages which has raised questions regarding their accounting treatment. Read more
Jun 25, 2020 / News
JobKeeper & Cash flow boost – ATO now scrutinising claims
Business owners have been through an intense period of COVID-19 survival mode – we’re still in it – but now we are beginning to emerge and look to the other side. Read more
Jun 18, 2020 / News
Schools and Colleges Financial impacts of COVID-19
With evolving Government initiatives to assist businesses recover from any negative financial impacts of COVID-19, coupled with new financial risks, we have outlined below some key areas which may impact your School or College in 2020. Read more
May 29, 2020 / News
Extension of ASIC reporting deadlines for 30 June 2020
In response to business disruptions caused by COVID-19, the Australian Securities and Investments Commission (ASIC) has announced a one month extension of the reporting deadlines for companies to lodge their audited financial reports under Chapters 2M and 7 of the Corporations Act 2001. The extension applies to both listed and unlisted companies with a balance date up to and including 7 July 2020. Read more
May 20, 2020 / News
Payroll Tax Concessions in the Time of Coronavirus
Governments throughout Australia have employed unprecedented measures to mitigate both the health and economic shocks to the community from COVID-19. Read more
May 18, 2020 / News
IASB revises treatment of COVID-19-related rent concessions
The Australian government’s mandatory Code of Conduct for Commercial Leases introduces a range of rent concessions for lessees, including rent reductions and rent deferrals. Read more
May 13, 2020 / News
COVID-19 Relief measures - Support for the Wine Industry
The wine industry has been significantly impacted by the Covid-19 pandemic. In light of this, the Australian and South Australian Governments have announced significant support to assist the industry through to better times. Read more
May 07, 2020 / News
Incentives are nice, but cash is better
The world of pain being experienced by business owners has not yet been revealed anywhere near it’s true extent. Read more
