Covid-19 Support: Landlords, Tenants & Small Business

The effects of Covid-19 are being felt worldwide by individuals, small businesses, large corporations and government bodies. With it, comes a lot of new and unfamiliar territory, the likes of which the world has never seen.

For individuals and small business, the financial effect can be significant and could continue for the coming months and years. Putting strategies and business plans in place now for the months that lie ahead could mean that your small business can weather the harsh times and still be operating once the dust has settled. This is the hope for us, and for your small business too.

We have received a lot of enquiries from our small business clients in relation to their Lease obligations and the financial impact sustained as a result of a loss of income. This article outlines the recent government advice and packages regarding:

  • commercial tenancies;
  • JobKeeper payments;
  • PAYG withholding cash boost;
  • Queensland Government support including electricity rebates, payroll tax refunds and deferrals;
  • childcare education and relief package;
  • early superannuation access; and
  • changes to bankruptcy law.

  [Read more…]

Director Liabilities – Protecting Your Assets

Are you putting your personal assets at risk?

 

When going into business with individuals for which you share assets with (e.g spouse) it is important that your shared assets (e.g the family home) are protected should anything go wrong. Protecting your assets begins with a business structure that prevents them from ever being at risk in the first place.

When starting a business with a family member it may seem like a good idea to appoint multiple parties as directors to keep it in the family.

However, this is not the case. [Read more…]

Mandatory Reporting of Unsafe Products

Are you a small or large business providing consumer goods to clients?

Mandatory reporting laws have been in place since 1 January 2011 requiring businesses to report unsafe products sold which have resulted in serious injury, illness or death. The system is not an admission of liability but rather aimed at protecting consumers from products which are identified as being unsafe.

The laws apply to all small or large businesses in the supply chain including: retailers, dealers, hirers, distributors, installers, repairers, importers, exporters, and manufacturers of consumer goods. It will also relate to services associated with the goods (installation, maintenance etc.).

‘Consumer Goods’ are goods that are intended to be used for personal, domestic or household use or consumption.

[Read more…]