During the current lockdown, a TSP Director contacted a valued client enquiring how they were fairing in the most recent Government restrictions and the potential impacts to their business operations.
Trading as a company, the client had to close their business for the duration of the lockdown and as such had affected their ability to generate income. As their work had reduced by more than 20 hours per week, they were eligible to claim $750 per week tax free through the COVID-19 Disaster Payment via Services Australia. They felt as though they had done applied for everything they could and would just pull in their belts and buckle down until the restrictions were eased and they could open up again to trade.
When asked if they had also applied for the COVID-10 JobSaver Payment available through Service NSW, their response was they hadn’t heard of JobSaver, let alone eligibility criteria or made application.
After some investigation, TSP determined the Company was indeed eligible for the JobSaver payment and was then able to assist the business make application for the payment with the relevant documentation.
The Company is now receiving $1500 per week tax free in additional payments to pay for costs including rent, financial and legal advice, marketing and other costs as well as wages should they become payable again at a later date.
This increase in assistance helped eased the burden of the lockdown restrictions for this business and family.
Could TSP be assisting you and your business throughout the current Government Restrictions? Get in contact with us on 49 264155 or email us admin@tspaccountants.com.au.