The first six months of 2020 have been tough for Australia’s small businesses – many started the year dealing with drought and then had to battle bushfires, or even floods. But nothing prepared us for coronavirus.
A global pandemic really brought things into sharp focus for small business owners, with many closing doors for extended periods, creating COVID plans, or changing their entire operation just so they could keep trading. As you pull together your receipts and expenses to prepare this year’s tax return, it pays to look at how the Australian Tax Office (ATO) can help your business get through the rest of 2020.
Small businesses impacted by the COVID-19 pandemic can request support via the ATO’s Emergency Support Infoline on 1800 806 218 or visit ato.gov.au/coronavirus for information on eligibility.