Business Owners! Are you aware of ATO COVID-19 Stimulus Payment ??
Small & Medium Businesses: this is the right time to act and optimise the$25K Stimulus payment & instant Asset Write-off.
The Government has announced a $17.6 billion economic plan to keep Australians in jobs, keep businesses in business and support households and the Australian economy as the world deals with the significant challenges posed by the spread of the coronavirus.
We have reviewed the Stimulus package and many businesses will require assistance to optimize the stimulus payment.
Nearly 700,000 small to medium businesses will also be able to get cash payments of between $2,000 and $25,000 but these payments will be available through businesses BAS lodgments.
If you are a business distributing the profits from a trust or dividends from a company, then you may not be eligible for this payment. Unless you implement different strategies for the March 2020 & June 2020 Quarters to optimise the stimulus payment.
If you need any help with pro-active tax planning and to maximise the government cashback, give our team at SPS Business Consultants a call on ☎️ (03) 9904 9261