What support is available for my business?
That is a great question – there are a number of support measures available and each one has slightly different eligibility requirements
Here’s a table we’ve put together with info provided by The Tax Institute
You should speak to your expert about your particular business situation.
We still don’t know if you should be testing your downturn on a cash or accruals basis, what happens if you don’t/can’t spend the funds on approved expenses, how you prove the downturn is due to the lockdown, or what newer businesses should do.
Please be patient as we wait for Service NSW to clarify the important fine print.