ASR Partners Tax and business advice blog

Insurance and the pandemic The shutdowns associated with the global pandemic are causing huge disruptions for businesses. If you haven’t already, now is the time to look at your insurance policies to see what you are covered for. Business insurance Most business insurance policies have a business interruption clause. This means that if you have to stop trading due to damage to or loss of property, you might be covered for loss of income or business expenses up to a certain amount. However, unl

Ten Point Action Plan Isolate yourself as this is the best you can do to stop the virus spreading and infecting others. Work from home as this has been proven to reduce infections and death. If isolation is not possible, practice social distancing as advised by the health authorities. Check your various insurance policies to see if any cover this situation – It is unlikely, but you never know. Contact your landlord and advise them if you will have trouble paying rent. Contact your bank if

Dear Clients, The following is: A. a brief analysis of the governments package of measures. B. a list of income support, loans and concessions you can access during these troubling times. We are of the view that this assistance is insufficient and weak in the current circumstances and we will be lobbying for stronger action to support incomes and jobs. It would not hurt to call on your local member and lobby for extra assistance from the Government. A. Analysis Government Stimulus Packages We wi

ASR Partners Coronavirus Action Plan – March 2020 STAGE 1: Containment/Avoidance As part of our risk management system we would like to explain the current stage of our action plan. We have implemented stage one and are prepared to lock down if required. We have anticipated resource problems and made the necessary purchases. We will avoid handshakes and unnecessary physical contact. Please inform us if you have been overseas in the last 14 days. Alternative arrangements such as skype and dropb

The coronavirus pandemic is creating real problems for business and the economy. While the progression of the pandemic is not predictable, business owners need to take this crisis seriously. This virus is very dangerous for the following key reasons: It is highly infectious; it has a relatively long incubation period; people can be contagious without symptoms and it has a high mortality rate for older people. In addition, we know little about this virus and there is low immunity in the community

While there have been significant announcements of tax changes by the Government and in the budget, it is important to separate the actual changes that have received royal ascent and are now law from proposed changes that are yet to become law. Reduction in the Company tax rate. The most important change for small business is the reduction in the corporate tax rate from 28.5% to 27.5% for businesses with a turnover of less than $10 million. The main difference between this law and the original p