Bookkeeping Blog
Advice and tips for Australian Businesses
The COVID-19 pandemic is having a wider economic impact then just financially, the concern is the mental health of small business owners
Many businesses according to recent research is showing that one of the highest related challenges is mental health, followed by financial concerns due to cash flow.
Due to the COVID-19 Pandemic, many small businesses are feeling the direct impact of this pandemic with one in five business owners suffering from stress, anxiety and some have those owners are also suffering from depression.
“Businesses whose owners and operators are aged between 18 and 39 were most likely to agree that they had felt anxiety or stress (68 per cent agreed).”
The survey found retail and hospitality businesses were most likely to state the key business-related cause of mental health challenges was the COVID-19 pandemic and its economic impact (46 per cent)”
With the possibility of the Jobkeeper to be reduced or removed after September, this will have a direct impact on small business owners finances and cash flow, which will flow on to their mental wellbeing.
If you are going through a tough time at present, there are companies like Lifeline on 13 11 44 who help in Crisis Support.
Even though I am a Bookkeeper, I am speaking regularly with my clients who are going through hardship and anxiety. Not that I am a Counsellor, but if you have any concerns relating to your financial circumstances, I am only a phone call away.
Maree Punzet – Marees Mobile Bookkeeping
M: 0429 363 047
W: www.mareesmobilebookkeeping.com.au
The Fair Work Ombudsman is prioritizing COVID-19 workplace disruptions which include the Job keeper payment compliance
What that means is over the next 12 months, the Fair Work Ombudsman (FWO) are reviewing any underpayments in large corporations.
‘Fair Work Ombudsman Sandra Parker has confirmed that Aussie workplaces can expect a degree of flexibility in the FWO’s enforcement approach in the new financial year, especially those sectors heavily impacted by the coronavirus crisis’
There have been many sectors within the Australian economy that have been seriously impacted by COVID-19. The FWO will enforce workplaces of their financial positions and review the challenges each are facing whilst recovering from the health disruption. The FWO are trying to uphold the integrity of the Jobkeeper scheme through these appropriate compliance activities.
“Due to the impact of COVID-19 on Australian workplaces, the number of employers and employees seeking our assistance has grown significantly,” Ms Parker said.
“More than 60 businesses have come forward to self-disclose workplace law breaches, with a total of half a billion dollars owed to workers — and that’s just what we know about,” Ms Parker said’
In other words, many large organisations in Australia need to prioritise and review workplace relations systems to ensure their paying workers are receiving the entitlements. Areas such as the fast food industry, cafes, restaurants, horticulture sector, franchisors and sham contracting.
‘Ms Parker did, however, explain that the agency will provide education, advice, tools and resources to small business and those hardest hit by COVID-19’
The FWO will take into account those businesses and their financial circumstances.
Excerpts taken from https://www.fairwork.gov.au/about-us/news-and-media-releases/2020-media-releases/july-2020/20200713-media-release-2020-21-priorities
If you have any questions or queries, please do not hesitate to contact me direct on 0429 363 047.
Maree Puznet
Marees Mobile Bookkeeping
www.mareesmobilebookkeeping.com.au
Watch Out!!! The ATO is chasing those Job Keeper cheaters
It makes you wonder how many businesses out there that are doing the wrong thing and so many are really in financial hardship.
Stories of people turning down business, claiming for payment for family members who don’t actually work within the business or full time workers who have not lost any hours, but still are claiming the Job keeper illegally.
It makes you think how this is going to affect our country, not only now, but years and years down the track. This money has to be repaid back, it’s not just the taxpayers, but our children and grandchildren who will suffer.
I just hope the ATO are able to chase the cheaters.
But if you yourself are not 100% sure that your legally entitled to Job keeper, then please contact me and we can go through everything, or if you know of anyone that is reporting illegally, the ATO have a Tip Off line on 1800 060 062.
Otherwise, call me on 0429 363 047 and we can go through this together.
Maree Punzet
Maree’s Mobile Bookkeeping | Over 20 years Bookkeeping experience | Qualified BAS Agent
M: 0429 363 047
www.mareesmobilebookkeeping.com.au
