2020 hasn’t really been the best year
for a lot of Aussie businesses, let’s be honest. Unprecedented events and uncharted territory with the Coronavirus (COVID-19) Pandemic has mainly been
the topic so far this year.
With the Australian Government
announcing a multi-billion dollar economic stimulus plan to help people and
businesses stay afloat, bookkeepers, accountants and those
in the finance industry have seen a huge surge in the demand for their services
in all areas of the economy.
The JobKeeper Scheme, a $130 billion
wage subsidy payment, has since been introduced and passed into legislation.
With the Australian Taxation Office (ATO) opening enrollments for businesses on
April 20th, the previous four to six weeks have been monumental for bookkeeping
professionals in Australia.
The Shoebox Bookkeeping network have
been working tirelessly for their clients, sorting out employee eligibility and
nominations, income turnover qualifications and updating financials for
businesses ensuring the JobKeeper Payment was accessible.
Shoebox Books Sunshine Coast owners
David and Lisa Eaves felt like they had to process through months’ worth of
work in only a few weeks.
David explained what the major
obstacles were throughout April/ May in relation to the Government’s stimulus
packages being brought out.
"Keeping up with the workload.
Client uncertainty coupled with administering the Stimulus Packages has
increased client contact along with the need to keep client files even more up
to date. Understanding all the compliance issues surrounding new
legislation and balancing the client’s need for timely information with
accurate advice has created the need to be resilient to change at a much faster
pace than the industry is accustomed to.”
and Lisa were able to catch a breath, they sat down and crunched the numbers they
were able to achieve for their clients. Let’s take a look:
- 25 JobKeeper
eligible clients/ businesses
- 75 JobKeeper
- $1,500 per
fortnight payment (before tax)
- 13 fortnights
that JobKeeper covers
Put that all
together and that is a whopping $1.46 Million of much needed cash flow and
savings put back into local business on the Sunshine Coast.
JobKeeper Stimulus Payment has been an economic life-raft for businesses,
keeping employers and employees connected and saving thousands of jobs.
Many of the
Shoebox Bookkeepers have similar results all over Australia. With hundreds of
businesses working with Shoebox Books, we have a customised ‘JobKeeper Set Up
Package’ that can assist any business during these uncertain times.
Contact Shoebox Books today for clarity and reliable support with bookkeeping and tax as well as JobKeeper Payment help.