The NSW and Federal governments have announced a series of financial assistance packages to businesses due to the Sydney lockdown.
As we did last year, we will help our clients to navigate the procedures required to obtain the money. However the bureaucrats will again not make this easy.
One of these measures has been called a cash flow boost. This is a misnomer. It is nothing like the cash flow boost last year but looks like the jobkeeper where businesses have to determine if their decrease in revenue, allows them to get the money. The definitions of revenue have caused some businesses like travel agents serious delays in receiving money. If the verification of identities of businesses is linked via Services Australia or Services NSW web sites this will also cause issues as they rely on the ABN register which we helped set up in 1999 in preparation for the GST.
However as tax agents we can go through the back door via our tax agent portal to get the ABN updated.
Peter Vickers & Associates Pty Ltd was the lifesaver for our clients last year and we intend to do the same this year.
Please get in touch if you have any questions on PVBG Lindfield (02) 9496 22300 or PVBG Windsor (02) 4577 4455 or click on the button below.
For more information go to Revenue NSW
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