September 2020 Newsletter

Current as of 29 September 2020
Volume 148

Jobkeeper Upcoming Key Dates
Now that JobKeeper 1 has finished (on 27 September) and JobKeeper 2 has started (from 28 September) we thought we would give you the key dates that you need to adhere to over coming months, click here to view.

My SMSF owns property and it’s affected by COVID-19 – what should I do? 
If your SMSF has a property and a tenant in financial distress, you may be able to provide your tenant with rental relief under an agreed commercial arrangement. This may even be the case when the tenant is a related party or yourself. Our article outlines what you need to do and what happens if the property is held under a LRBA.

Tax Incentives for Early Stage Investors 
Early stage innovation companies (ESIC) have always faced difficulty trying to attract seed capital and pre commercialisation equity to fund the early stages of their development. With renewed interest from a number of our clients recently it is time to revist these concessions. Our article explains these Tax Incentives for early stage investors which include generous tax offsets and modifications to the CGT treatment of eligible investments.

Time to return to the office!
With the welcome news that COVID numbers in Sydney have been diminishing each day, we have decided it is time to take the next step in a tentative return to normality at S & W. While we have been busy ensuring it was business as usual, and we have tried to ensure that our service to clients has not changed even though we have mainly been looking after clients via phone and video meetings, there is no substitute for face to face attention, if the need arises.

With that in mind, we have made the decision that, from Monday 28 September, more of our team will attend the office. While we are still ensuring the maintenance of social distancing, the benefits of being able to catch up face to face, as well as collaborate on client work, means we have taken a big step back to normality. From 28th September team members will be coming in on a monitored roster and time schedule so you will likely be able to access your client manager or partner at least a couple of times a week. This will allow you to have access to your advisory team, which can only help you to deal with the significant challenges you, and all businesses, are facing at the moment.

Like all businesses, we will have the usual processes in place for all visitors to the office to ensure safety for all who do attend , including use of hand sanitiser, recording contact details of all visitors to the office and cleaning and sanitising of all meeting areas after each meeting. Other than that it is business as usual, and we will try to ensure the safety of all visitors, and team members.

We look forward to seeing you at Burton Street sometime soon. Feel free to contact your client manager should you wish to organise a meeting at our offices.

DISCLAIMER
This newsletter has been produced by Stanley & Williamson as a service to its clients and associates. The information contained in the newsletter is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas contained in this newsletter, it is imperative you seek specific advice relating to your particular circumstances. Liability limited by a scheme approved under Professional Standards legislation.