A Message for You and Your Businesses from Evolution Advisers
As business owners, it is important we lead our businesses through challenging times. We are in unprecedented times that will require us to be adaptable, calm and strong in our decision making.
With a magnitude of information available it can be hard to determine where to turn in our efforts to ensure the safety, health and wellbeing of our people, clients, guests and suppliers.
As leaders at Evolution, we’ve had to ‘cut through the noise’ ourselves and wanted to share with you the sources we are relying on to make decisions in our business.
We are maintaining an understanding of the coronavirus based on factual information provided by the following reliable sources.
World Health Organisation - https://www.who.int/emergencies/diseases/novel-coronavirus-2019
Australian Government Department of Health
https://www.health.gov.au/news/health-alerts/novel-coronavirus-2019-ncov-health-alert?utm_source=health.gov.au&utm_medium=redirect&utm_campaign=digital_transformation&utm_content=health-topics/novel-coronavirus-2019-ncov
Health NSW - https://www.health.nsw.gov.au/Infectious/diseases/Pages/coronavirus.aspx
We will continue to
Remain up to date with the latest developments
Protect the health and well-being of our people by providing information on symptoms, prevention and other practical information
Ensure we mitigate the risk in our own business and our clients businesses
Provide further updates to our people, clients and community on our website www.evolutionadvisers.com.au
Support for you and your Business
We are here to help and will continue to keep you informed. It is our responsibility to support you and your business through this challenging time.
Business Continuity Plan – Do you have a business continuity plan in place? The impact of the Coronavirus restrictions will impact each business differently. It is important you are thinking about ways your business can continue to operate and measures to assist with cash flow should further restrictions be implemented. Evolution has implemented its own business continuity plan to ensure our team members can work remotely, if required, to continue to provide support and information to our clients.
Government Stimulus Package – The government announced its Coronavirus Stimulus package for small to medium businesses. We have attached a summary outlining the 4 main areas of support.
Relief provided by the Australian Taxation Office – Relief is being offered for those businesses experiencing financial difficulty as a result of the COVID-19, in the form of:
Payment deferrals
Varying of PAYG Instalments
Remitting interest and penalties
Low interest payment plans
Potential re-negotiation of current payment plans
Important Note: Whilst the ATO is offering extensions and variations for taxation obligations, it does not extend to super guarantee obligations. For the March 2020 quarter the due date for payment of SGC remains 28th April.
https://www.ato.gov.au/Individuals/Dealing-with-disasters/In-detail/Specific-disasters/COVID-19/
Employer obligations and support
It is important as a business owner and employer you understand your obligations. Fair Work Australia is providing up to date information on its website that will be of assistance for general questions you may have. There is also a hotline you can contact on 131 394 for urgent enquiries. Your relevant employer associations are also a good source of information.
https://www.fairwork.gov.au/about-us/news-and-media-releases/website-news/coronavirus-and-australianworkplace-laws
Assistance from Evolution Advisers
Evolution is here to assist you in the decision making for your business in any way we can. Whether it be to help you manage your cash flow or implement/review your business continuity plans, contacting the ATO on your behalf, or simply pointing you in the right direction. Please don’t hesitate to contact us if you have any questions or need any further support or advice.