COVID-19 Business Update – 25 November 2020

Australia Opens Up More Borders in Domestic Travel Australia will lift more internal state border restrictions in a boost for tourism as new COVID-19 cases slow to a trickle, while the first vaccines could be available in March. Queensland will allow visitors next week from New South Wales and Victoria, after closing its borders in August. Meanwhile, NSW will ease restrictions on arrivals from Sydney on December 1 and will…  Read more

COVID-19 Business Update – 18 November 2020

6-Day Lockdown Ordered in South Australia The state of South Australia will begin a 6-day lockdown at midnight on Wednesday, with schools, universities, bars and cafes closed. Only one person from each household will be allowed to leave home each day, and only for specific reasons. Under this latest lockdown, wearing masks is mandatory, outdoor exercise is banned, aged-care facilities will go into lockdown, and most factories will close. Weddings…  Read more

COVID-19 Business Update – 11 November 2020

No locally acquired cases for the first time since Feb! Great news this week for Victoria who recorded 12 days with no new COVID-19 cases, and the rest of the country as Australia recorded its third day without a locally acquired case nationally for the first time since late February. COVID-19 Vaccine Breakthrough Results from Pfizer’s COVID-19 vaccine trials are exciting, immunology and infectious diseases experts say, as early data…  Read more

COVID-19 Business Update – 4 November 2020

The end is hopefully in sight. Things are slowly getting back to normal. Victoria Reports No COVID-19 Cases For Fifth Straight Day Victoria, Australia’s coronavirus hotspot, reported zero COVID-19 cases for the fifth straight day as states started easing regional border restrictions. This increases the prospects for a faster return to normal. Last week, Victoria allowed restaurants and cafes in Melbourne to reopen after over 3 months under stringent lockdown,…  Read more

COVID-19 Business Update – 28 October 2020

This week’s update on the economy, the latest government announcements and any changes to government stimulus on the table. Australia Starts Fourth Quarter on Stronger Economic Footing Flash Australia PMI signals faster output growth in October as COVID-19 restrictions loosen. The IHS Markit Flash Australia Composite PMI, covering both manufacturing and service sectors, increased from 51.1 in September to 53.6 in October. This marked the fastest increase in private sector…  Read more

COVID-19 Business Update – 21 October 2020

Weekly update for our Clients Lately, economists have been talking about a “K-shaped” recovery from the current recession. As this article in The Conversation explains, this kind of recovery happens when different parts of the economy recover at different rates. White-collar workers who can more easily work remotely may have an easier and faster path to recovery than blue-collar and service workers who must be physically present to do their…  Read more

COVID-19 Business Update – 7 October 2020

Weekly update for our clients Federal Budget 2020 Released The Federal Budget was released earlier this week. Here’s a quick rundown of the key points: This budget is based on economic assumptions including that there will be a COVID-19 vaccine rolled out by the end of 2021. Asset write off – businesses that make new investments will be able to write off the entire cost in one year, rather than…  Read more

How Small Businesses are Boosting Sales During COVID-19

We started 2020 with optimism and hope that this year was going to be better than the last– but then, COVID-19 happened and brought sudden massive changes worldwide. It has disrupted the way we interact, shop, work, and transact. Businesses of all sizes have been plunged into darkness, with some even having to shut completely. Meanwhile, others managed to find dynamic solutions to shelter their businesses from the harsh impacts…  Read more

COVID-19 Business Update – 9 September 2020

As always we wish our clients well, you are never far from our thoughts. Australia To Extend Bankruptcy Protection Rules Until End of 2020 Australia will extend its temporary insolvency and bankruptcy protection rules until the end of this year, providing businesses a lifeline to recover from the impacts of COVID-19. The rules, which were first introduced in March and originally due to expire on 30 September 2020, indicate that…  Read more

COVID-19 Business Update – 2 September 2020

There is still hope we can see our clients in person before the end of the year. COVID-19 Cases in Victoria Fall to Seven-Week Low Victoria, the epicentre of Australia’s second wave of COVID-19 infections, has reported a significant drop in the number of new cases, reaching a near two-month low. This is good news as the total lockdown in Melbourne is set to end on 13 September. Details on…  Read more

COVID-19 Business Update – 26 August 2020

Looks like our HBF road trip will have to wait longer. Our clients are always in our thoughts. Victoria’s State of Emergency extended for 18 months Victorian Premier Daniel Andrews has announced the State of Emergency will be in place for 18 months and lockdown restrictions will be extended beyond September. Businesses in Victoria that are struggling can access the state’s Business Support Package. Get in touch with us if…  Read more

COVID-19 Business Update – 19 August 2020

We are always thinking of our clients, we are here if you need us. Cashflow Boost and JobKeeper Audits The ATO has announced that it will be actively conducting audits on the cashflow boost JobKeeper scheme. If you receive contact from the ATO to review your JobKeeper eligibility, you will be required to provide documentation as proof that you meet the eligibility criteria. This may include: Bank statements Tax invoices…  Read more

COVID-19 Business Update – 12 August 2020

We are with you during this time. Stay home & stay safe. Australia Borders Remain Shut Prime Minister Scott Morrison announced that international border closures were unlikely to lift before Christmas, as the country reported a record single-day surge in COVID-19 deaths on Monday. However, drastic lockdown measures in Melbourne appear to be working, as the rate of daily new infections in Victoria is slowing down to a near two-week…  Read more

COVID-19 Business Update – 5 August 2020

We are all in this together, let’s look out for each other. Stay Safe. Support for Victorian businesses As you have probably heard, the Victorian Government has announced updated restrictions for Melbourne and regional Victoria to help slow the spread of COVID-19. Stage 4 restrictions started from 6pm on Sunday 2 August for metropolitan Melbourne. Stage 3 restrictions are in place from 11:59pm on Wednesday 5 August for Regional Victoria,…  Read more

COVID-19 Business Update – 29 July 2020

We would like you to know, the HBF team is here to help answer questions.  The road trip will have to wait a little longer. JobKeeper Changes Coming in September Last week the PM announced the JobKeeper wage subsidy scheme will be extended from September through to March next year, with some changes. Please be aware there are still plenty of “unknowns” surrounding the next steps, and these changes are…  Read more

COVID-19 Business Update – 22 July 2020

We hope our clients and their families are coping okay with all the changes. Stay safe. JobKeeper Changes Coming in September This week the PM announced the JobKeeper wage subsidy scheme will be extended from September through to March next year, with some changes. This comes as businesses continue to struggle and as an increase in infections has been reported in the southeast. The JobKeeper subsidy has been extended to…  Read more

COVID-19 Business Update – 8 July 2020

With the borders closing, we hope our clients with interstate customers are not as heavily impacted as our Victorian clients. We know this is not ideal, however, we know these measures are to restrict the spread of Coronavirus. We can’t wait for a HBF road trip when things are looking better. Next phase of JobKeeper to come after September PM Scott Morrison confirmed today that there will be a “further…  Read more

COVID-19 Business Update – 1 July 2020

It looks like restrictions are increasing in Victoria. We hope our Clients are managing well.  We have a feeling that remote learning is headed back to Victoria. We feel for all working parents, juggling everything at once. State grants and support programs Each state and territory has announced various grants and assistance packages which you may be eligible for. You can find a roundup of these grants on the Government’s…  Read more

Coronavirus and the Mental Health Impact on Accountants

I have no words to describe the past three weeks of being a business owner running their own accounting and bookkeeping business during the Coronavirus pandemic, but I will try. There has been so much negativity, so much uncertainty, increased levels of stress and anxiety, frustration through the roof, so many tears – and that is from both clients and from me. “We are not immune to any of it,…  Read more

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