Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.<\/p>\n
Prime Minister Scott Morrison said the vaccination drive against COVID-19 is on track<\/a> to meet the target of having everyone inoculated by October, despite delays.<\/p>\n As of 7 March 2021, the total number of people who have been vaccinated stands at 86,369.<\/p>\n The National Australia Bank’s index of business confidence<\/a> reached decade highs, as it rose by four points to +16 in February. This comes after sales, profits, and employment all picked up sharply– a positive sign that the country’s economy is recovering from last year’s recession caused by the pandemic.<\/p>\n ‘Buy Aussie Now<\/a>‘, an Australian-focused online marketplace was launched, featuring a ‘Tick of Approval’ to identify products that are Australian-made and owned.<\/p>\n The online store, which is the first of its kind in the country, features about 15,000 Aussie products across nine categories from 6,500 registered businesses.<\/p>\n The government will spend $1.2 billion to expand its wage subsidy scheme for apprentices<\/a>, as JobKeeper is set to end this month.<\/p>\n Under the apprentice scheme, the government will pay half the wages of apprentices up to a maximum of $7,000 each quarter for 12 months. It will run until September 2022. Ask us if you have any questions.<\/p>\n The federal government has launched a second round of funding for the Boosting Female Founders Initiative<\/a> worth $11.6 million. This will support female entrepreneurs to build their businesses and create local jobs.<\/p>\n Through this government support, grants between $25,000 and $400,000 will be provided to Australian start-up businesses that are female-founded or majority owned and led by women.<\/p>\n Applications have opened on 8 March 2021, the International Women’s Day.<\/p>\n If your business is struggling with cashflow or other issues at the moment, it’s time to have a chat. It’s a good time to take stock and think about your business more broadly. It’s likely that any underlying issues have been compounded by the COVID-19 crisis, magnifying and accelerating the impact of these issues.<\/p>\n If you are worried about how your business will make ends meet without JobKeeper, you should speak with your advisor to find out your options. It’s crucial to be proactive and act early if you feel you will be in financial distress. Get in touch with us to find out how we can help you weather this storm. We’ll make sure you have a solid understanding of your business’ current financial position so you can make informed decisions.<\/p>\n The JobSeeker rate will increase by $50 a fortnight<\/a> from April 1 after the government scraps its coronavirus supplement.<\/p>\n Currently, those eligible with no children are paid $715.70 a fortnight– of this, $565.70 consists of the JobSeeker payment and $150 accounts for the coronavirus supplement.<\/p>\n When the coronavirus supplement ends on 31 March 2021, the new JobSeeker rate will be brought to $620.80 a fortnight, equating to $310.40 a week, or just over $44 a day.<\/p>\n The Circuit Breaker Support Package<\/a> worth a total of $143 million will be given to businesses in events, tourism, hospitality, and accommodation to help return revenue lost over the five-day lockdown.<\/p>\n The travel voucher scheme has also been expanded to offer 40,000 $200 vouchers for travel in greater Melbourne, along with an additional 10,000 for travel in regional Victoria.<\/p>\n The Australian Taxation Office (ATO) is warning about a new batch of scammers impersonating the ATO<\/a> who are claiming they’ve suspended their target’s tax file number (TFN) following suspected fraudulent activity.<\/p>\n While the number of people falling victim to this scam is low, the large amounts being lost per person is alarming, according to Assistant Commissioner Trent Jakubowski.<\/p>\n So remember, the ATO does call taxpayers but will never:<\/p>\n If you receive a suspicious call, email, or SMS, report it to ato.gov.au\/reportascam<\/a> or call the ATO’s dedicated scam line 1800 008 540 to check if it was legitimate.<\/p>\n Upcoming key lodgment and payment dates<\/a> for businesses:<\/p>\n 21 March<\/strong><\/p>\n 31 March<\/strong><\/p>\n Contact us if you have any questions.<\/p>\nBusiness Confidence Hit Decade Highs<\/h3>\n
Australian-Focused Online Marketplace Launched<\/h3>\n
Wage Subsidy Scheme for Apprentices to Be Expanded<\/h3>\n
Second Round of ‘Boosting Female Founders Initiative’<\/h3>\n
JobKeeper ends soon: here’s what to do if you’re worried about your business<\/h3>\n
JobSeeker Rate Increases by $50 a Fortnight<\/h3>\n
$143 Million Cash Boost For Victorian Businesses<\/h3>\n
Beware of Scammers Impersonating the ATO<\/h3>\n
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Upcoming Key Dates<\/h3>\n
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Government-backed COVID-19 Loans Extended<\/h3>\n