Dear Valued Clients,
Your Business and COVID-19
In the current times of high uncertainty and anxiety in local and global markets due to the increasing impact of the COVID-19, it's very difficult to work out what to do first to ensure the continuity of businesses and livelihoods.
The potential closures of business premises and the prospect of periods of imposed quarantine for large numbers of people/staff are beginning to cause great concern amongst business owners. Every business out there (including our own!) is trying to work out what impact there might be from COVID-19 and plan for it.
GOVERNMENT ECONOMIC STIMULUS PACKAGE
We are fielding an increasing number of enquiries from clients regarding the Governments economic stimulus package.
Please see below the Key Tax Measures (From NTAA https://ntaa.com.au/media/news):
In addition to these key tax measures, the Government has also announced additional economic stimulus measures including:
WHAT WE’RE DOING
MDS is putting in place its own continuity plan that will allow all staff to work remotely if our office is required to close. There will be no disruption to clients if a closure is effected, with all staff available via email and phone on a business-as-usual basis.
We will be available to assist with any queries or administration regarding the Governments stimulus package as well as any cash flow issues or concerns.
In the interim, we believe there are numerous ways you can navigate the coming weeks and months to try and manage and lessen the potential impact on your business;
The Coronavirus is a serious issue impacting the world and there is no doubt it will have a negative impact on many globally. However as always there are clever people working quickly on a solution that we would hope within 3-6 months will see communities and businesses start to return to business as usual as vaccines are developed (and distributed to those with a critical need) and people / businesses continue to take measures to reduce risks such as covered here: https://www.health.gov.au/health-topics/novel-coronavirus-2019-ncov
As always, please get in touch with your Accountant or support team at MDS should you require further information or assistance.
MDS ACCOUNTING & FINANCIAL SERVICES