Coronavirus COVID 19 – Rent Relief: What it Means for Tenants and Landlords of Commercial Leases
The COVID-19 Omnibus (Emergency Measures) (Commercial Leases and Licenses) Regulations 2020 (Vic) was published on 1 May 2020 (theRegulations). The Regulations are made under the COVID-19 Omnibus (Emergency Measures Act 2020 (Vic) which follows the National Cabinet Mandatory Code of Conduct. The Regulations carry retrospective effect and are taken to have come into operation on 29th March 2020.
The purpose of the Regulations is to implement temporary measures that apply to tenants and landlords under certain eligible leases in order to mitigate the effect of the COVID-19 Pandemic.
Read More about the Regulations and eligibility criteria here:
We have created this Fact Sheet is to enable you to make a quick assessment of your eligibility for the Government's Boosting Cash Flow for business. It is not a comprehensive guide as the rules are quite complex. If, after you have examined the information in this Fact Sheet and believe that you may be eligible, please contact us immediately so we may assist you further.
The cash flow boost will be available only to ‘active eligible employers established prior to 12 March 2020’. To be eligible for the cash flow boost, an entity must meet all of the seven conditions set out below.
Please click the link below to download the fact sheet and let us know if you have any question.
The Government will allow eligible individuals affected by the Coronavirus to have up to $10,000 released from their superannuation or retirement savings account on compassionate grounds before 1 July 2020. A further amount of $10,000 may be withdrawn for the period 1 July 2020 to 30 September 2020.
We have created this Fact Sheet to enable you to make a quick assessment of your eligibility to temporarily access their Superannuation. It is not a comprehensive guide as the rules are quite complex. If, after you have examined the information in this Fact Sheet and believe that you may be eligible, please contact us immediately so we may assist you further.
Click the link below to download the fact sheet and please let us know if you have any question.
We have created a fact sheet and self-assessment tool for individuals and businesses wish to participate in the Australian Government JobKeeper Payment Scheme.
The purpose of this Fact Sheet is to enable you to make a quick assessment of your eligibility for the Government's JobKeeper Payment Scheme. It is not a comprehensive guide as the rules are quite complex. If, after you have examined the information in this fact sheet and believe that you may be eligible, please contact us immediately so we may assist you further
You can download the fact sheet via the link below. Please let us know if you have any questions.
ARITA Info Sheets for Directors, Accountants and Businesses
On 23 March 2020, the Government passed laws to assist businesses with the impact of the current economic conditions, including temporary relief for directors from personal liability for trading while insolvent.
Given the current impact of the COVID-19 pandemic, there is a strong likelihood that businesses’ liquidity will be adversely impacted. Ensuring that the challenges to liquidity do not move into a shortage of working capital which is unable to be overcome, is key to maintaining solvency during this period.
It’s really important to realise that a lot of people are in the same boat at the moment, and generally through no fault of their own. So, don’t see this as a personal failure. But do get proper, qualified advice as quickly as you can.
COVID 19 – Holding DOCA - the solution to the liquidity trap and building financial bridges
We think that there are good reasons for holding DOCAs as being a part of the solution to the present liquidity trap. If you are experiencing cash flow difficulties or if you think that your business is on the brink of insolvency but is otherwise a good and profitable business and worth saving, we may be able to assist in “building that bridge” with the use of a holding DOCA until our social and working lives return to normal.
Temporary relief for financially distressed businesses
The economic impacts of the Coronavirus and health measures to prevent its spread could see many otherwise profitable and viable businesses temporarily face financial distress. It is important that these businesses have a safety net to make sure that when the crisis has passed they can resume normal business operations. One element of that safety net is to lessen the threat of actions that could unnecessarily push them into insolvency and force the winding up of the business.
Started in the tail -end of last year, COVID-19 has infected more than 80,000 people in China and more than 220,000 globally. As this particularly distressing time, the team at Barrett Walker wants to check in with you to make sure you are alright. We want to let you know we are here to support you and we are all in this together. In the meantime we recommend that you remain informed of the latest development of COVID-19, practice social distancing, and check in with your friends and family when you can.