COVID-19 Frequently Asked Questions

On this page, FinCare answers common questions about COVID-19, including the following topics: Information for business owners Cash flow assistance payment Information for apprentices and trainees Mortgage information Superannuation information…

Support for employers

ASSISTANCE TO HELP PAY WAGES OF APPRENTICES AND TRAINEES Eligible employers can apply for a wage subsidy of 50 per cent of the apprentice’s or trainee’s wage paid during the 9 months from 1 January 2020 to 30 September 2020. Where a…

NSW State Government Stimulus Package

BUSINESS SUPPORT AND JOBS The NSW State Government announced the following stimulus packages on 17th March 2020: $450 million for the waiver of payroll tax for businesses with payrolls of up to $10 million for three months (the rest of…

Business Stimulus Package

ENHANCING THE INSTANT ASSET WRITE-OFF The government is increasing the instant asset write-off (IAWO) threshold from $30,000 to $150,000 and expanding access to include businesses with aggregated annual turnover of less than $500 million…

Income Support for Individuals

INCREASED AND ACCELERATED INCOME SUPPORT The Government is temporarily expanding eligibility to income support payments and establishing a new, time-limited Coronavirus supplement to be paid at a rate of $550 per fortnight. This supplement…

Superannuation changes

NEW SUPERANNUATION MEASURES As part of the COVID-19 Stimulus Package, the Federal Government has announced the following measures in relation to superannuation:- Sole Traders and Individual taxpayers in "Financial distress" as a result…

Start-up businesses: Which is the right structure for you?

Start up businesses need to make one important decision from the outset – what type of business set-up will suit your enterprise best? And which structure will be best for the future? You've got a choice of four basic business structures…

10 important tips for business owners

As a business owner, there is always something to do, however many owners often spend more time working in the business than they do on the business. Here are ten simple management tips to help you maintain a successful business in good…

Good records save small businesses

According to the Australian Taxation Office (ATO) many small businesses fail due to poor record-keeping. Aside from the legal reasons, there are many financial reasons for making sure your books are in order. Every small business owner knows…