The latest round of Govt Stimulus Packages and how they will be delivered

| Tuesday April 14

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.
with Alexi Boyd, broadcaster, advocate and small business owner.
Date: 14 April 2020

The Government has announced a $130 billion JobKeeper payment to help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus. Around 6 million workers will receive a fortnightly payment of $1,500 (before tax) through their employer. It’s intention is to ensure employees and employers remain connected and promises to assist businesses restart quickly when the crisis is over.

We’re all about answering your questions here on Small Biz Matters.

Many of you want to know about the timing of the stimulus package, the amount you can expect and the mechanisms the government will be using to ensure the right businesses get the right amount. Will it be fair? Will it take a long time? And of course the HOW will it work?

We have a powerhouse line-up today: Kate Carnell is the Small Business and Family Enterprise Ombudsman fighting for small business and some may argue responsible for many of the stimulus measures and later at 9:30am, Deborah Jenkins is Deputy Commissioner with the ATO - the agency responsible for administering and distributing the funds to you, the small business owner.

Questions for Kate Carnell:

  • Many small businesses have swiftly pivoted their roles and responsibilities in recent weeks. No doubt you’ve been doing the same as head of ASBFEO; why is the role of advocate for small businesses in Australia more important than ever? Generally who do you engage with and has this changed? Who do you work closely with?
  • When these big decisions are made on behalf of small business; who is at the table and what role does ASBFEO play?
  • What sort of queries is your office getting from small businesses as they seek support? Have these changed?
  • What do you believe will be the focus to support small business in the next 1-2months in the midst of the COVID-19 pandemic?

Questions for Deborah Jenkins:

  • What is the ATO doing to support businesses experiencing a downturn or difficulties as a result of COVID19?
  • How does the cash flow boost work (generally)
  • Who is eligible for the cash flow boost? What about sole traders?
  • Tell me about the timing of the cash flow boost? What about those businesses who have a lodgment deferral in place due to the bushfires etc
  • What can you tell me about JobKeeper?
  • What should small biz do who are overwhelmed / need support / need more time to lodge / pay / mental health issues?
  • Can small businesses get early access to their super?
  • Tell me more about the extension to the Instant Asset Write-Off

Deborah Jenkins is Deputy Commissioner, Small Business at the ATO. As part of this role she has responsibility for management of the Goods and Service Tax (GST) product for the ATO and the ATO’s Black Economy program of work.

Deborah and her team work in partnership with tax practitioners, business, industry bodies and other organisations to create an environment that supports sustainable and viable small business to thrive.

Across the ATO she has responsibility for the small business experience, as well as engaging with, educating, assisting and guiding taxpayers through contemporary products and tailored services. She has a strong focus on making it easy for small businesses to operate using digital products and services.

She was previously Assistant Commissioner, Indirect Tax looking after GST interpretative assistance and financial services risk.

Prior to joining the ATO, Deborah was a partner at a large advisory firm where she advised domestic and international clients across all industries on GST related matters.

A passionate and dedicated professional, Deborah has previously been named as one of the International Tax Review Leaders for Australia. She also has multinational experience through her work in both New Zealand and Europe. In New Zealand she worked for both the public and private sectors.