Government Economic Measures Extended

The Australian Government is helping your business to manage the cash flow challenges and keep the apprentices and trainees employed.

Here are some of the incentives with the extensions to financially support your business:

• Wage subsidy by 50% of the eligible apprentice or trainee wages - until 31 March 2021. Click here for more details.
• Increased and expanded instant asset write-off - $150K until 31 December 2020. Click here for more details.
• JobKeeper payments - extended to 28 March 2012 - reduced to $1,200 from 28 Sep 2020 and $1,000 from 4 January 2021. Click here for more details.
  
  

$150,000 Asset Write Off

Part of Coronavirus Stimulus Package

We’re not experts in tax related matters but H&G staff have years of experience helping Tradies with their last minute ‘buy before 30 June’ supplies. These items may include:

• Tools and equipment – power tools, hand tools, work lights
• Protective items – hard hats, work boots, safety glasses
• Cleaning materials – keep your work site and office safe

If you are a business owner, the government has provided additional incentives through instant asset write-offs as part of their Coronavirus stimulus package. It may be a good time to invest in tools and equipment. If you are an employee of a business owner, there are other tax deductions available to you. Consult with your accountant or tax adviser for more information.

The ATO also has many useful resources, click here for more:

https://www.ato.gov.au/General/Tradies---be-certain-about-what-you-can-claim/

https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/Instant-asset-write-off/

$25,000 Grant for Home Owners

To stimulate the Construction Industry 

HomeBuilder provides eligible for owner-occupiers (including first home buyers) with a grant of $25,000.

Here's a summary:

• Grant Value: $25,000
• For homeowners to build a new home or substantially renovate an existing home
• Not Available for investment property
• Contract must be signed between June 4th and Dec 21st 2020
• Construction must start within 3 months of the contract
• Contract between $150,000 - $750,000
• Value of home must not exceed 1.5 million
• Home owner's income must be less than $125,000 (individually) or $200,000 (combined).
• Not available for detached structures (sheds, pools, granny flat, etc)

Find more details on the Government website: CLICK HERE

Businesses Plan for COVID-19 Safety

Successfully Flattening the Curve 

We are feeling relieved that Australia has managed successfully to "flatten the COVID-19 curve”. The continued success will depend on maintaining the practises of physical distancing, good hygiene and downloading the COVIDSafe app while we are out and about.  

 We all have to play our part. Australian businesses are required to prepare and develop a plan to operate in a COVID safe way to protect yourself, customers, and staff members. To access the Roadmap to COVIDSafe Australia PDF, click here: Roadmap COVIDSafe Australia PDF

 Here are some ideas on how to keep your construction site safe: COVID-19 Building & Construction Risk Assessment

Licence Fees To Be Waived 

Builders & Tradespeople Licence

As part of NSW Government's COVID-19 economic stimulus package, builders & tradespeople licence will be waived for 12 months from 15 April 2020.

The licence fees waiver will be applied for:

• Home building contractor licences
• Trade or specialist contractor licences
• Motor vehicle repairer licences

COVID-19 Best Practice Guide 

A Guide for Building & Construction 

This guide was produced by Master Builders Association NSW and offers a detailed practice guide while working in building sites.

What's available for Sole Traders

The measures to support businesses impacted by COVID-19

If you're a sole trader, learn what your business can get and where to go for help.

Australian Small Business and Family Enterprise Ombudsman Kate Carnell talks about the government stimulus package being offered to small businesses affected by COVID-19.

JobKeeper payments

How to Manage Social Distancing on Job Sites

HIA Industry Guideline 

How do you stay 1.5 metres apart when a sheet of gyprock is 1.2 metres? How should I manage my site & not receive a fine?

This HIA COVID-19 download provides guidelines for renovation and repair sites to help minimise the risk of exposure to COVID-19, to protect yourself, your family, your contractors and their families.