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The Victorian Government has announced new measures to contain the spread of coronavirus (COVID-19). They come into force at midnight tonight 25 March 2020.

They have already ordered the closure of hotels, pubs and clubs (excluding bottle shops within those venues), casinos, cinema, nightclub, entertainment venues, gyms and indoor sporting centres.

There are now further closures of non-essential businesses, limitations on certain activities, and closure of a range of venues, attractions and facilities where large numbers of people would otherwise be in close proximity.

One of the most common questions we have received from clients this week is “what are employers obligations in regards to the coronavirus pandemic”.

Thankfully Fairwork have released some guidelines and likely scenarios for employers. It is a fantastic resource and is being updated constantly, as this is a new area of law that hasn’t previously been written, so please check back on it regularly over this time.

The resource can be found at https://www.fairwork.gov.au/about-us/news-and-media-releases/website-news/coronavirus-and-australian-workplace-laws

With all the negativity going on in the world at the moment, it is important that we focus on the good. In light of this, we are excited to get in touch today and share some fantastic Xero news with you. As of today, every Xero user on a Xero Starter, Standard or Premium plan will have access to Hubdoc - an amazing Document Collection & Management Software solution.

The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus.

The yet to be legislated four part package focuses on business investment, sustaining employers and driving cash into the economy.

Empty restaurants and retail stores were one of the first signs of the devastating impact the coronavirus on Australian businesses. 

Within a few months, the virus, now called COVID-19, has gone from being a largely unknown medical condition to one that threatens to impair Australian and global economic growth. 

We explore the impact on business and the importance of planning for setbacks beyond your control.

More than a third of all Australians have more than one superannuation account. Moving house, changing jobs or just forgetting to update your details can easily separate you from your superannuation fund.

For a while now, the Australian Taxation Office (ATO) has been concerned about tax deductions individuals have been claiming for a whole host of expenses. The latest on their ‘hit list’ are home office expenses.  We guide you through what you can and can’t claim if you work from home. 

A new system alerting SMSF trustees of changes made to their SMSF will roll out this month. The ATO will alert trustees by text and/or email when changes are made to bank details, electronic service address of the fund, the authorised contact and members.

The ATO has requested insurance policy information from 30 insurers for lifestyle assets such as yachts, thoroughbred horses, and fine arts.

The review, expected to impact 350,000 taxpayers, reaches from the 2015-16 to 2019-20 financial years, revealing assets that previously may not have been disclosed or underreporting of income.

Warning on Bank advice to business owners

Warning on Bank advice to business owners

Some banks are advising customers with business accounts to transfer excess cash to pay down the business owner's home loan. While it might sound like common sense to use the excess cash in your business, there are significant potential problems for business owners who do this.

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