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Archives for COVID-19

COVID19 – Jobkeeper Payment Reminder & Update for Employers


(Legislation is expected to be passed very soon, therefore this information is still considered general in nature and has been obtained by relevant fact sheets)

Eligible Employers get a head start and have this information readily available:

A reminder to please go through all your eligible employees that would qualify for the Jobkeeper Payment within your business. You may need to act promptly to ensure you meet the requirements for the first payment of this stimulus package.

IMPORTANT: The first fortnight under the scheme is from 30 March 2020 to 12 April 2020. Taking into account our public holiday this Friday 10th April, this would mean that the first payment to eligible employees would need to be made by 9th April to qualify for the first payment.  If you are still paying wages to an eligible employee over the $1500 gross payment per fortnight (before tax) you do not need to pay anything further. However, if not, then you will need to review this situation closely and calculate any difference. Overall, you will need to pay eligible employees a minimum or $1500 gross per fortnight (before tax) between the first fortnight period and then continue to pay your employees a minimum of $1500 gross per fortnight (before tax), before the end of the next payment fortnight thereon. The last payment fortnight is Sunday 27th September 2020.

Payments will be received by the ATO monthly in arrears and the first payment will be received in the first week of May.

Currently eligible employees are employees who:

• are currently employed by the eligible employer (including those stood down or re-hired);

• are a full-time or part-time employee, or a casual employed on a regular and systematic basis for

longer than 12 months as at 1 March 2020;

• were aged 16 years or older at 1 March 2020;

• were an Australian citizen, the holder of a permanent visa, or a Special Category (Subclass 444) Visa

Holder at 1 March 2020;

• were a resident for Australian tax purposes on 1 March 2020; and

• are not in receipt of a JobKeeper Payment from another employer.

If you need assistance with regards to this Jobkeeper Payment, please contact our office.

Please rely on news sources and information from State and Australian Government websites that are reliable.

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COVID-19 Business Support Fund – $10,000 Grant (Victoria)

COVID-19 Business Support Fund

Has your business been subject to closure or has been highly impacted by Victoria’s shutdown restrictions announced to date.

Funding of $10,000 per business is available and will be allocated through a grant process.

Please check your Eligibility Requirements

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 ; and

·        Employ people; and

·        Have a turnover of more than $75,000; and

·        Have payroll of less than $650,000; and

·        Hold an Australian Business Number (ABN) and held that ABN at 16 March 2020 (when this was declared); and

·        Have been engaged in carrying out the operation of the business in the Australian State of Victoria on 16 March 2020.


If you need assistance completing the information on this application with regards to your business’ accounting and tax matters, please contact our office.

Applications opened on Monday 30 March 2020 and close on Monday 1 June 2020.

Please rely on news sources and information from State and Australian Government websites that are reliable.

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COVID-19 Business Continuity Plan

Our first thoughts are with you and your families, and trust you remain safe and healthy.

We have developed a summary attached to assist you and your business to cope with the economic impact of the Coronavirus.

These are times when we need to stay calm, support each other and rely on news sources and information from State and Australian Government websites that are reliable.

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COVID-19 – How we are managing to work with you through this period.

In light of the recent developments around the Coronavirus (or COVID-19) and the uncertainty we are all facing day to day, we felt it is important to email you to assure you that we expect no major interruptions to the accounting and taxation services that we provide to you. Our first thoughts are with you and your families, and trust you remain safe and healthy.

I want to assure you that we at TBA Consultants are here to support your businesses throughout this uncertainty, and as much as possible we remain business as usual. We are committed to minimising any disruption to your businesses.

We are currently taking the following actions to keep our staff, and clients safe:

1. Business Continuity

We have a business continuity plan in place, and are fortunate that our office has the technology and infrastructure to continue to support you throughout this challenging time. We will be working remotely from home and want to reassure you that we are committed to maintaining our high-quality client service levels (including confidentiality) at all times. We will ensure to minimise disruption to our services and remain accessible via email, phone and video conference.

2. Travel Reduction & Client Meetings

We have suspended all staff travel for meetings and/or conferences for the time being. We will instead utilise technology to facilitate meetings and training events that would have previously been delivered in person. Again, we are fortunate to have this infrastructure in place and ready to go. In addition, we are limiting visitors from attending our office until further notice as a precautionary measure.

All these measures are being implemented to support the health and wellbeing of our people and you as our clients in the current environment.

We know this is a disruptive time for many businesses, and we are here to help. Please let us know if we can assist should you require any support,

I hope in a small way I can reassure you, that we are conscious of the challenges your businesses are currently facing, and that TBA Consultants remains ready to support you and your business through these unprecedented times.

Should you have any queries and wish to discuss further, please do not hesitate to contact our office.

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