Is your business avoiding its debts?

As a consumer, you may or may not know someone that has been affected by a dodgy business that has shut down to avoid paying its debts.

We have seen this happen quite a bit over the last few years.

The business may seem to just disappear off the face of the earth, overnight, only to pop up under a different company name.

This as we know is called ‘phoenixing’ and it’s ILLEGAL.

It’s been around for many years and illegal phoenix activity happens in many different industries. The worst is many subcontractors and / or supplies are left unpaid and businesses may be forced to shut down.

Did you know the ATO has a taskforce called ‘Phoenix Taskforce’ whereby they work with other federal, state and territories to detect, deter and disrupt illegal phoenix businesses?

There are a few red flags to watch out for such as

  1. Companies providing unusually low quotes or tenders
  2. Company directors who have previously been involved with liquidated entities
  3. Changes to the company’s name and directors, but the manager and staff remain the same
  4. Companies requesting payments to be sent to a new company
  5. Told that your last contract won’t be paid, unless a new contract is signed, usually this is done under a different company name from the 1st one you began having dealings with.

If you suspect anything illegal, please contact the ATO and/or

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

The NSW Government has announced the 2022 Small Business Support Program

This Small business support program is helping businesses survive the impacts of the Omicron COVID-19 strain.

If your business falls under these requirements, you may be eligible to apply for a payment under this program.

1. You have a business or not-for-profit organisation with a turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2021 or the year ended 30 June 2020; and

2. You are experiencing a decline in turnover of 40% or more due to public health orders or the impacts of Omicron during the month of January 2022, compared to January 2021 or January 2020; and

3. You are experiencing a decline in turnover of 40% or more due to the impacts of Omicron from 1 to 14 February 2022, compared to the same fortnight in February in the comparison year used above; and

4. You maintain your employee headcount as of 30 January 2022.

Those eligible businesses and not-for-profit organisations will receive 20% of weekly payroll as a lump sum for the month of February, with a minimum payment of $750 per week up to a maximum payment of $5,000 per week.

Eligible non-employing businesses will receive $500 per week, paid as a lump sum of $2,000.

The 2022 Small Business Support Program is for the month of February only.

Applications are expected to open from mid-February, so be quick to apply so you don’t miss out. If you need assistance in applying, let me know.
For more information and eligibility criteria, see the program guidelines.

Most of this information has been taken from this link https://www.service.nsw.gov.au/transaction/2022-small-business-support-program
Remember applications open Monday 14th February and closes Monday 28th February, so you don’t have much time to apply.

If you need assistance, then give me a call on 0429 363 047, I can take care of this for you and so much more.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

How will COVID affect your business in 2022 and into the future?

Many business owners have not been affected since 2020 when the first case was detected and Australia started going into lockdown.

Though on the end of the spectrum, I have lost some clients myself (not many) because COVID did contribute to a few businesses closing.

How will it affect your business in 2022?

I feel more business owners are optimistic when it comes to their own business this year. Over the last 2 years, many business owners have refocused, pivoted into other areas of their business.

Some have closed one part of their business and ventured into another area which has been of financial benefit.

If anything, business owners are becoming more creative.

What they thought wasn’t possible, is possible.

Many cafes that had a bustling business are now only doing takeaway and remaining doing takeaway. They felt with the wages of staff for waitressing, was better spent in keeping the remaining staff on for cooking and delivery.

How will your business go into the future?

Have you been able to sustain your business during the pandemic?

What have you done to keep it going?

If you ever need help with your bookkeeping, I’m happy to have a chat.

Let’s hope the future looks more positive for all business owners.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

This applies to NSW only, the NSW Government has announced a suite of support measures for SME, part of the Economic Recovery Strategy.

The NSW government has announced a suite of support measures for SMEs as part of the Economic Recovery Strategy.

‘The state government announced this week that it will provide a Summer Holiday Stock Guarantee for small and medium enterprises (SMEs) and will expand the Small Business Fees and Charges Rebate for all eligible small businesses.

This means that under the SME Summer Holiday Stock Guarantee, eligible businesses with an annual turnover between $75,000 and $50 million will be able to apply for a grant of up to $20,000 to compensate for loss of perishable stock, or claim $10,000 for reduced capacity to sell non-perishable items if a local lockdown occurs and they are impacted’

The Government has expanded the Small Business Fees & Charges Rebate for use until 30th June 2022.

The NSW Premier has advised that these measures are to provide businesses the confidence to open up and plan for the future.

“These measures will give businesses and workers confidence to purchase stock and invest for the future”

Do you fit these criteria?

As many businesses in NSW may be forced to shut their doors between 1st December & 31st January 2022 due to public health orders.

“Small businesses will now be able to claim road user tolls under the Small Business Fees and Charges Rebate, which is being increased from $1,500 to $2,000.

“The rebate can be used to offset NSW and local government fees and charges and adding tolls to the list of claimable charges is going to make a massive difference to many small business owners who use vehicles for work.”

If you are confused if you fit the criteria or not, please give me a call directly on 0429 363 047. Some of these extracts have been taken out of this story, link here. NSW government announces fresh support for businesses | MyBusiness

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

The NSW Government is providing $5000 business grants for hospitality businesses

The NSW Government is providing 5,000 hospitality businesses a $5,000 grant to get their outdoor dining venture off the ground, whether that be to help setup curb-side dining or a pub-style courtyard.

They NSW Government are calling it the Alfresco Restart Package at a cost of $66 million in funding. Because of all the lockdowns, this initiative will see alfresco dining, outdoor activities and events return. The Government are hoping it will revive the hospitality and entertainment industries. With 5,000 hospitality businesses a $5,000 grant to have their outdoor dining venture off the ground, will help the people of NSW get on their feet.

As a bookkeeper who specializes and helps many cafes, hospitality businesses, I am here to assist your bookkeeping when you start opening up.

‘The Alfresco Restart initiatives being rolled out from November include:

  • The Festival of Place – including the Long Summer Nights Program at the Rocks, Darling Harbour and The Domain, Streets as Shared Spaces Program, Summer Night Fund Program and Open Streets Program;
  • Emergency temporary alfresco measures for outdoor dining in parks or on private land with the owner’s consent; and
  • $5,000 grants for hospitality businesses to establish new alfresco settings;
  • Permanent outdoor dining as an exempt development for pubs and small bars state-wide.

This package is part of the NSW Government’s efforts to slash red tape and support businesses and communities to recover from the pandemic’

For more information, visit the Planning NSW website.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

How certain are you that your business will continue with these constant lockdowns?

From what I am hearing from business owners, many are very fearful that their business may not survive all these lockdowns.

Do you think any business is lockdown proof?

Personally, my business as a virtual bookkeeper has expanded and I’m way more busier than ever, looking after new and existing clients, answering questions, helping them with their BAS and sometimes just being a counsellor and listening to their problems. These lockdowns are affecting all different kinds of businesses, not just your cafes and restaurants and retail, but those that depend on stock from delivery interstate, those that have staff on the other side of the border that can’t get through and the pain of these lockdowns is trickling through and affecting other businesses.

It’s a surreal situation for all business owners and when we look back at this, we will look out how we survived, did we pivot, did we just dig deeper, did we actually notice the pandemic, some businesses it hasn’t had any impact, some are obtaining more business and taking it while the iron’s hot as they say.

What about you and your business? Will it continue with these constant lockdowns?

If you need a bookkeeper and need help, you know I am here to help you through it all.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

Did you know the Government is planning to reveal a $1.2 billion extension of the Apprenticeship wage subsidy?

I for one applaud this initiative from the Government. For any business or group training organisation, if an apprentice is engaged between 5th October 2020 through to 21st September 2021, they may be eligible for a subsidy of 50% of wages paid to a new or recommencing apprentice or trainee for a 12-month period from the date of commencement. The maximum of $7000 per quarter.

As a mother of two boys my eldest son only having left High School late 2020 after completing his HSC, this is a fantastic initiative for anyone or has just left school or even those looking to change careers.

We definitely need this due to COVID and the economic challenges that are to come in the future.
I hope that businesses will take up this initiative because we need a skilled workforce. It also shows that there is greater confidence for businesses who may have held back over the last 12 months.

I myself am thankful and having children of my own it provides me some security that they have a bright future ahead.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID
We are a full service, insourced Payroll and Bookkeeping business that puts money back in your pocket and saves you time to work in/on your business this makes good financial sense!!

The NSW Government hands down the 2020-21 Budget

I have to applaud the NSW Government during COVID-19, this year has been tough for so many both personally and professionally.

Recently the NSW Government announced it’s $1 billion Working for NSW Fund, which will help sustain businesses and create much needed cash flow and help businesses retain employees across government and non-government businesses.

They also announced that over $6 billion, that’s right $6 billion dollars will go towards waiving or deferring taxes, levies and fees, which includes payroll tax and licensing and registration fees to support businesses.

Due to the impact of COVID-19 on certain industries in NSW, the Government announced assistance for the following

$50million for arts rescue and restart, $27.3 million for sports and $11.6 million to support the taxi industry.

That is an incredible amount of money and the Government has advised the will also extend funding of $39.3 million for the Business Connect Program, which assist businesses in need of advice with those facing the multitude of challenges of COVID-19.

Let’s face it, the NSW Government are trying to serve and support local and small business, because as we know, we are the backbone of the country. If you didn’t have the local and small business, NSW / Australia wouldn’t function, pure and simple.

I support the NSW Government as they hand down the budget and we all know the future is uncertain, but this will definitely help many for a more positive 2021.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

We are a full service, insourced Payroll and Bookkeeping business that puts money back in your pocket. Our team works like a full-time employee and part of your business when it comes to processing your Payroll and bookkeeping, but without the cost or other concerns full time employees bring.   When compared to a full-time employee, we give you all the benefits and more but save you around $60,000 a year in costs, makes good financial sense!!