Solpoint Accounts

Good news, working from home tax deductions have been made easier by the ATO.

New working from home shortcut The Australian Taxation Office (ATO) is announcing special arrangements this year due to COVID-19 to make it easier for people to claim deductions for working from home.

For small employers, the Victorian State government is providing additional grants to help ease the burden of closures.

Business Support Fund The Victorian Government has launched the $500 million Business Support Fund to help small businesses survive the impacts of the coronavirus (COVID-19) pandemic and keep people in work.

In addition, banks are now looking to extend the relief to commercial tenants, in line with the state government preventing evictions, this will provide further relief for small businesses.

Banks to help commercial landlords who help tenants Commercial landlords can get debt relief from their bank, if they don't terminate leases or evict current tenants for rent arrears due to COVID19.

Some good news, banks are giving small business six months deferrals on their loans.

Banks hit pause on $100 billion in small business loan repayments amid coronavirus fears The Australian Banking Association says all small businesses hit by the coronavirus pandemic will be able to access a six-month deferral of all loan repayments.

Our small businesses need the most support right now, please help where you can.

Combine Leap and Xero, I rest my case.

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Xero Boss Insights 2020 | Xero Load yourself up on business insights and start making boss moves. The Xero Boss Insights 2020 report gives you better understanding on how to become your own boss and gives you the numbers to succeed.

Hope you had a great Valentine's Day everyone!