Jim's Bookkeeping Mckinnon

The Victorian Government has just launched a support fund to help the small business sector hit hardest by the Covid-19 pandemic.

Eligible businesses can apply for a one-off $10,000 grant which can be used towards costs to support the business continuity planning.

The program closes in 63 days and is limited so you need to act fast if you are interested in order to assess your eligibility and apply.

Businesses are eligible to apply for a grant through the Fund if they meet the following criteria:
• have been subject to closure or highly impacted by shutdown restrictions announced by the Victorian Government to-date;
• employ people;
• have a turnover of more than $75,000;
• have payroll of less than $650,000;
• hold an Australian Business Number (ABN) and held that ABN at 16 March 2020 and
• have been engaged in carrying out the operation of the business in the Australian State of Victoria on 16 March 2020.

How to apply –

Applicants must register and submit an application online via the ‘Apply Now’ button via the link below:

www.business.vic.gov.au/support-for-your-business/grants-and-assistance/business-support-fund

As part of your application you should note the following:
• applicants must certify in writing that they meet the eligibility criteria.
• applicants will be subject to audit by the Victorian Government or its representatives and will be required to produce evidence, such as payroll reports to demonstrate impact, at the request of the Victorian Government for a period of four years after the grant has been approved.
• if any information in the application is found to be false or misleading, or grants are not applied for the purposes stated in the terms of funding and application, the grant will be repayable on demand.

If you would like assistance in assessing your eligibility and/or completing your application, please contact
Your local Jim's bookkeeper 131 546

We are here to help you, your business and your family. Stay well.

Business Support Fund The Victorian Government has launched the $500 million Business Support Fund to help small businesses survive the impacts of the coronavirus (COVID-19) pandemic and keep people in work.

https://www.accountantsdaily.com.au/tax-compliance/13808-end-of-year-tax-scams-set-to-spike-as-ato-issues-warning?utm_source=Accountants+Daily&utm_campaign=04_12_19&utm_medium=email&utm_content=2&utm_emailID=948817c2a9bc62d43f12f0605223cd371cef979acbdd1aa7d035b558142eae4e&fbclid=IwAR0k5rGZRZt8NGrLh3F7el9Uf_ZBLBdK31L0uOTwNO1I0h4hCVoGDcgow8o

End-of-year tax scams set to spike as ATO issues warning With over $2.1 million paid to scammers impersonating the ATO this year, the Tax Office is warning of yet another spike as tax payments deadlines draw near.

https://www.accountantsdaily.com.au/bookkeeper/13668-rockpool-accused-of-tampering-with-timesheet-records?utm_source=Accountants%20Daily&utm_campaign=25_10_19&utm_medium=email&utm_content=4&utm_emailID=948817c2a9bc62d43f12f0605223cd371cef979acbdd1aa7d035b

Rockpool accused of tampering with timesheet records High-end restaurant group Rockpool has been accused of wage theft of at least $10 million by tampering with timesheet records in a bid to deny employees overtime entitlements.

https://www.accountantsdaily.com.au/tax-compliance/13652-ato-heads-to-western-sydney-following-spike-in-tip-offs?utm_source=Accountants%20Daily&utm_campaign=21_10_19&utm_medium=email&utm_content=1

ATO heads to Western Sydney following spike in tip-offs Bankstown will be the site of the next tranche of business visits by ATO inspectors, after the Tax Office noticed an “alarming” spike in the number of tip-offs, particularly about payments to workers.

https://www.accountantsdaily.com.au/tax-compliance/13607-ato-to-stamp-out-black-economy-in-bathurst?utm_source=Accountants%20Daily&utm_campaign=12_10_19&utm_medium=email&utm_content=1

ATO to stamp out ‘black economy’ in Bathurst The Australian Taxation Office (ATO) is headed to the central west of NSW, following a number of tip-offs flagging concerns about businesses engaging in black economy activities.

https://www.accountantsdaily.com.au/business/13632-tax-scammers-impersonate-police-demanding-eftpos-payment-in-person?utm_source=Accountants%20Daily&utm_campaign=16_10_19&utm_medium=email&utm_content=2

Tax scammers impersonate police, demanding EFTPOS payment in person Phone tax scammers have taken a bold step forward, turning up at a man’s Adelaide home dressed as federal police officers while demanding payment of a tax debt through an EFTPOS machine.

https://www.accountantsdaily.com.au/tax-compliance/13635-unprecedented-level-of-visibility-ato-announces-first-use-of-stp-data?utm_source=Accountants%20Daily&utm_campaign=16_10_19&utm_medium=email&utm_content=1

‘Unprecedented level of visibility’: ATO announces first use of STP data The ATO has announced its first direct use of Single Touch Payroll information, vowing to act on its “unprecedented level of visibility” of superannuation information, as it sends a warning to errant employers.

https://www.accountantsdaily.com.au/business/13625-ato-targets-unfair-advantage-in-tasmanian-businesses?utm_source=Accountants%20Daily&utm_campaign=14_10_19&utm_medium=email&utm_content=2

ATO targets ‘unfair advantage’ in Tasmanian businesses Tasmanian businesses can expect another round of visits from the ATO this year, with 300 small businesses in Hobart in its sights over the next couple of months.