We are open for business and are set up to support you in the coming months. We thought it would be useful to highlight the ways in which we can assist.
We can help negotiate financier arrangements
We have had initial discussions with all financiers and they have indicated a willingness to work with our customers to ensure you are supported in the coming months. Support can include payment holidays or similar.
We are happy to coordinate the approach to financiers on your behalf to ensure the best outcome for your business. Our immediate recommendation is to ensure that you have your financials and management accounts as up to date as possible.
We have experts who can help you explore the government solutions being released to help business continuity
The government has announced assistance packages with further assistance expected to be announced in coming days. We will help share what we know as it comes to light.
The ATO have indicated they will provide significantly greater flexibility. We can help navigate those options in conjunction with your accountant to make sure it has the least amount of impact on future borrowing capacity.
Access to additional working capital lines
Many businesses will see an impact on working capital and need access to additional lines of credit beyond what your existing bank is prepared to advance. It is likely that banks will start to reduce overdraft limits. We can present alternative finance options which can either be in addition to your existing limits or replace your current banking lines as needed.
Instant Asset Write-off
Don’t forget the government incentive to businesses with the instant asset write-off of equipment purchases. Businesses will need to continue to automate and improve efficiencies to keep ahead of the curve and be ready for when the world gets back to the new normal.
Prime candidates to take advantage of the instant asset write-off include:
- Businesses who expect to pay tax on profits at any time over the next 1-4 years
- Businesses who need plant and equipment to improve efficiencies, save labour or add additional product lines.
We can help with more detail around asset write-offs and tax deductions. Call me directly for a discussion on andrew.sutherland@