WHAT’S NEW

Director ID Requirements – Application Commencing November 2021

Director ID Requirements – Application Commencing November 2021

Directors will soon be required to verify their identity and apply for a Director Identification Number (director ID) from the Federal Government, in an effort to deal with illegal phoenix activities and improve the traceability of company directors over time.

Included as part of the Treasury Laws Amendment Act 2020, the measure is also intended to cut down on the use of false or fraudulent director identities and will assign a unique ID to directors that lasts forever.

With applications commencing November 2021, we’ve prepared a special client guide to help you with FAQs about the director ID and the processes surrounding it.

Download our special client guide now – Director ID Requirements

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Unwinding COVID-19 Relief

Unwinding COVID-19 Relief

It won’t be long before we can stop talking about COVID-19 (won’t that be nice) but for now, with the Treasurer’s announcement that Commonwealth COVID-19 financial support will start to be withdrawn from 70% full vaccination and cease at 80%, that time is not now.

Please read the full update here – Unwinding COVID-19 Relief

We are here to assist you with any queries you might have. Feel free to contact your advisor at PrimeAdvisory or call us on 02 9415 1511.

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JobSaver & Micro-business Grant Reconfirmation

JobSaver & Micro-business Grant Reconfirmation

Happy Friday, Business Clients!

We have an important update weekend update for you. If your business currently receives payments under the NSW JobSaver or Micro-business Grant schemes, you will now need to reconfirm your eligibility each fortnight to continue receiving payments.

Please read the full update below:

JobSaver & Micro-business Grant Reconfirmation

Some of the details relating to how businesses should confirm their eligibility for the Grant schemes are yet to be announced by ServiceNSW. We will keep you up to date when further announcements are made.

How to contact us?
We’re available to assist you with the lockdown support for your business. Feel free to contact your advisor at PrimeAdvisory or call us on 02 9415 1511.

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For Business Clients: Small Business Fees and Charges Rebate

For Business Clients: Small Business Fees and Charges Rebate

Business clients, don’t we all love a series of small wins? If you answered yes, then we have some great news for you.

If you are a sole trader, a small business owner, or a not-for-profit organisation in NSW, you may be eligible for a ‘small business fees and charges rebate’ of $1,500.

This rebate helps businesses recover from the impacts of COVID-19 and encourages growth by reducing the cost of running a business. Eligible businesses or not-for-profits only need to apply for the rebate once but can submit multiple claims until the full value of $1,500 is reached. Online applications are available from Service NSW.

While an extensive list of applicable licence fees and charges is not provided, this rebate is eligible for any state government fees and charges, except those specifically excluded. Remember, this is just for state government charges, not to be confused with the federal government charges.

Excluded fees and charges include fines and penalties, NSW or Commonwealth taxes, rent on government premises, and fees and charges designed to discourage or induce behaviour changes (such as parking space levies or clean-up notices).

For the full list of exclusions, please see the scheme guidelines here.

Included are trade licences, food authority licences, council rates, and business registered motor vehicle registrations.

Read the full update here – Client Alert Sept 2021 – NSW Small Business Fees and Charges Rebate

How can we help?

If you have any questions or would like further assistance regarding this update, please feel free to call us on 02 9415 1511.

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Overview of Commercial Leasing Changes

Overview of Commercial Leasing Changes

On 14 July 2021, the NSW Government enacted the Retail and Other Commercial Leases (COVID-19) Regulation 2021 (the Regulation). Amendments passed on 13 August 2021 provide even greater protections to impacted tenants by reinstating the National Cabinet’s Commercial Leasing Code of Conduct.

The Regulation ensures that the economic impact of COVID-19 is shared by property owners and tenants. The protections in the Regulation, combined with the land tax concessions and the newly established Commercial Landlord Hardship Fund, will help limit the long-term economic damage of COVID-19 and maximise the number of businesses that can resume normal operation when public health orders are lifted.

For More – Commercial leases and COVID-19 FAQs | Small Business Commissioner (nsw.gov.au)

Template letters for tenants and landlords for negotiation purposes:

Template_letter_for_tenants_rent_negotiation_COVID-19_Rental_Relief_2021_August (1)

Template_letter_for_property_owner_rent_negotiation_COVID-19_Rental_Relief_2021_August

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