Our year in review, new investments and TEN13 visits Nigeria ✈️
Our year in review, new investments and TEN13 visits Nigeria ✈️
READ MOREAccess to support and resources during covid
It is a testing time for us all and we’re exploring ways to help navigate through the current circumstances. For a deep-dive into what’s out there, we’ve pulled together some resources below, including webinars, articles, and an overview of the Government’s stimulus package. We are working hard to ensure that our portfolio is supported during this time. To help the greater startup community we have put together a collection of resources we have collaborated with our Partners to create around the changes occurring daily to the stimulus package and laws around insolvency and contracts. We’ve collaborated with Cole Wilkinson from Pitcher Partners to summarise the most recent information on the stimulus package. James from LegalVision has sent over some useful information about understanding all the options available to you at this time around contracts and considerations when managing employee obligations. Steve filmed a Video Session with Ashley Tiplady — Partner (Mills Oakley) Commercial Disputes & Insolvency this week. Regarding Insolvency changes, leasing obligations, frustration in contracts and force majeure. This will push out shortly along with any updates on stimulus changes as they come in.
Many thanks,
TEN13 Team
Measures
Extension of PAYG Withholding support (ATO Fact Sheet — stage 2) (ATO Fact Sheet — stage 1)
Temporary relief for financially distressed businesses (ATO Fact Sheet)
Measures to provide credit support (ATO Fact Sheet)
There will be further administrative measures allowed by the ATO to assist taxpayers in meeting their tax obligations, include the following.
Deferring by up to 4 months the payment of tax amounts due through the BAS (including PAYG installments), income tax assessments, FBT Assessments and excise;
Remitting any interest and penalties, incurred on or after 23 January 2020 that have been applied to tax liabilities; and
LegalVision has sent over things to consider when looking at Employee retention and contractual obligation.
Employees and COVID-19: 4 Key Steps to Consider.
In the pandemic-driven downturn, most business owners are reducing costs and cutting employee hours has become a priority. To understand your options, see our factsheet Employees and COVID-19: 4 Key Steps to Consider.
If you are having difficulty supplying or receiving goods and services, paying rent or are worried about breaching contractual obligations, read these articles:
It also helps to understand your consumer law obligations, and whether your contracts have a force majeure clause.
Our year in review, new investments and TEN13 visits Nigeria ✈️
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