The following is a summary explanation of the support incentives for business, individuals and households from both the Federal Government and the Victorian Government as at 31 March 2020.

This document is best used as a first point of reference. For more detailed explanation and fact sheets refer to the links below and the specific links provided in the section for each initiative:

https://treasury.gov.au/coronavirus/businesses
https://treasury.gov.au/coronavirus/households
https://www.business.vic.gov.au/__data/assets/pdf_file/0005/1888997/Economic-Survival-Program-Fact-Sheet.pdf
Federal Government Business Initiatives

Job Keeper Payment – a wage subsidy up to $1,500 per fortnight
Turnover under $1 billion that has reduced by> 30% compared to a year ago
Refer the

To support our clients gain clearer understanding of the Federal and State Governments stimulus packages to small businesses we will provide regular updates of clarification and where of benefit our response to the frequently asked questions that our clients are asking.

We will continue our communication to you by email and we will also be placing updates on our website www.marendaz.com.au and our face book page: marendaz accountants and business consultants.

By far the most asked question now is about the workings of the PAYG Withholding Credit stimulus.

Today we are cutting through

You know how tripods work — as long as all three legs are on the ground, they can sit on virtually any terrain. But remove one of those legs and everything falls over. Good business is built on this principle, and all businesses need these three things to stand on:

Operations
Sales
Administration

They’re the three stabilising legs of a successful business. If you’re any good at your business, you’ll have Operations and Sales covered, and you’ll be brilliant at one of them.