|First and foremost, my thoughts are with those families and their friends who have lost loved ones from Coronavirus, both directly and indirectly, not just in Australia, but throughout the world. Secondly, I did promise back in December for these reports to be no tax talk, so I apologise now for a couple of tax references – but woo wee, what a month we have just had and what a defining year 2020 is going to be for so many reasons. Corona, as we knew it, was a Mexican beer we enjoyed in the summer months around a pool and a good old fashioned Aussie BBQ! |
Well not anymore. Without going into detail about the virus – I’d like to give my summary of what we’ve all experienced the past month: Phase 1: Financial Panic.
The share markets across the worlds plummeted. Phase 2: We lost our marbles.
Think “toilet paper” & “pasta” wars in our supermarkets! Phase 3 & 4: Government opened their coffers.
Started with the PAYG W, apprentice rebates, bank funding & pausing repayments (last resorts by the way) and then came the JobKeeper program (all this and more adds up to just a tick under $500bn in support from our governments). Restrictions came and continue to come. Whether it be social distancing, businesses closing or forced to change how they operate, schooling now to be remote, Tiger King on Netflix, Zoom parties and self-isolation to the max – this is our new normal for quite a while. Uncertainty. Kids don’t know when they can play with their friends in the park again. Families don’t know when they can celebrate milestones together in person. Thousands of people have lost their jobs and unsure when they can return to work. Communities united. Support for local businesses skyrocketed and helping each other out became the norm – It’s like Australia said “We are all in this together”. Where to from here? Well no one really knows, but what I can say is that as a nation, we must be very thankful that we can call Australia home, and must be doing a fair bit right. Whether it be our governments banding together and working to fight two distinct crises, to those on our front lines at our hospital right through to the mums and dads at home with their kids. Finally, and most important to me, is to remember how you see the world right now and the things you no longer take for granted, hug your kids or partner often (but please no one else right now), enjoy a walk in the park (where you can), ring a friend to check on them and support your local communities as much as your hip pocket can afford. Remember, life is full of choices and the only finite resource we have is time – choose wisely on how you use it. We can still plan for the future, but then only thing we can deal with right now is the present. Please don’t forget to continue to appreciate the simple things in life, not just now, but also when we’ve come through this the other side. Stay safe everyone, take care of yourself and help others, please continue to play your part in helping to “flatten the curve” and that means all of us. So if you know people who aren’t, have the courage to call them out – and we will win the war! Happy Easter.
|Like to hear more of our thoughts and what is happening at Pursuit, please click the image below to view the video.|
What Pursuit Advisers Have Planned for the Next 3 Months
- All the necessary tax compliance such as getting Business Activity Statements completed as fast as possible so the stimulus payments can start flowing. Along with continued work on FBT returns and tax lodgements.
- Preparing for the year ahead with Annual Planning Meetings. We will be conducting these meetings to enable businesses to tackle issues they will be faced with over the coming weeks, months and post COVID-19 (We all must remember the importance of taking the time to work on our businesses and to “see the forest from the trees”)
- Keeping you up to date with developments as they unfold through our vlogs and Q&As. Our aim is to get information out to you, when it matters and in an easy to understand format.
- Working on tips and tricks to help make your business stronger than ever, when we come out the other side, so stay tuned!
Self-isolating Australians are Saving Lives and Livelihoods
With our current circumstances very much a part of our reality now, the Easter period presents a challenge in it’s self.
As we move forward to combat our current situation, Our PM Scott Morrison urges all Australian’s to not “undo the hard work thus far”, by continuing with our social distancing protocols that have been put in place. He also touches on the challenging task of finding a balance between saving “lives and livelihoods (health v economy). To find out more please click the link.
Building a Stronger Business During & Post COVID-19
We know Business owners are a resilient bunch, and we at Pursuit are business owners first, and advisers second, and just like you all are, are working on plans to deal with immediate, short-term and longer-term impacts COVID-19 is having on our business.
Our advisers have held hundreds of conversations and meetings with you, our clients, these past three weeks, with the majority of these focused on the immediate issues and impact of COVID-19, we’ve heard some heartbreaking stories, but also many stories of courage, triumph and ingenuity.
With many clients thinking laterally, challenging the status quo and adapting their business to deal with what is the new normal, we’d like to create the opportunity to help guide you through this challenging period (and beyond) by sharing these stories and with proactive advice and tips on how to build a stronger business to not only survive COVID-19 but thrive once this has all passed.
We are currently putting together a communication and delivery plan for this and will provide further news in respect to this shortly.
We Want Your Input
If you have any questions you need answered or can offer us feedback, we’d love to hear from you as an integral part of our core values is kaizen – the state of constant, never-ending improvement.
To get in touch, you can contact us by phone on 03 5623 3778, or send us an email at email@example.com.