Small businesses and navigating COVID-19
by Kate Ferraro | 28 March 2020


Navigating COVID-19 for small businesses
What is the JobKeeper payment
Instant Asset Write-off increase

As communities continue to respond to COVID-19, we know that this uncertain time presents unique challenges for small businesses. Evalesco is fully supportive of the government’s plan to minimise contact and our team are here to support you. Here are our thoughts and some helpful information to assist you in navigating this period for your business and your employees.

JobKeeper payment

This week has seen an important update from the government as part of their stimulus package, announcing a JobKeeper payment available to both employers and sole traders. The payment on offer is a fortnightly $1,500 payment which will be made to employers for a maximum of 6 months, for eligible employees. Businesses will have to demonstrate that revenue has reduced by more than 30% relative to before the COVID-19 outbreak, to be eligible, and the payments must be passed onto the eligible employees.

Employees who receive this payment must report it to Centrelink, if they are currently in receipt of other benefits, as it may impact other support payments they are currently receiving. If you have been stood down from work or your hours reduced by your employer you should get in touch with them to discuss how this payment could work for you.

Here are some fact sheets with some more information for employers and employees.

If you think your business may be eligible, it’s a good idea to register your interest to claim the JobKeeper payment with the ATO here.


There is significant relief for those small businesses with gross revenue of less than $50 million. The relief payments will depend on the level of PAYG withheld (up to the maximum of $100K), and are tax free. They will flow directly through to the business’ ATO integrated client account.


The government is working with financial institutions to extend unsecured loans up to $250,000 for small businesses. The government will guarantee half of the value of the loans and loan terms will be 3 years with no repayments required for the first 6 months.

Instant Asset Write-off

The instant asset write-off will increase from $30,000 to $150,000. This means assets bought for less than $150,000 can now be written off as a deduction straight away rather than depreciated over a number of years.

Communicating is so important in these uncertain times. If you are feeling nervous or lonely and could use a chat, please don’t hesitate to pick up the phone and give us a call.


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We believe the true value of financial advice isn’t found in dollars and cents (although this is important too!) but in the peace of mind a financial plan can provide. It’s knowing where you want to go and how to get there, with a dedicated team behind you every step of the way.

“How do I know Evalesco is the right fit for me?”

We know the impact of good holistic financial advice can make and we have the life experience, technical capability and quality support team that can make that difference for you. We’ve empowered over 1000 families through the delivery of great financial advice, to be healthy, wealthy and happy.

“How do I know how much money I will need to retire?”

The amount of super you’ll need when you retire depends on your big costs in retirement and the lifestyle you want. The Associate of Superannuation Funds of Australia (ASFA) estimates for a single $44,224 a year and for couples $62,562 a year is how much you may need. This is only an indicator and our advisers assess everyone’s individual circumstances.

“Why should I pay for financial advice?”

The fees we charge for financial advice is only a fraction of the value we derive for our clients, meaning our clients are always better off after seeing us. Rarely do we encounter a new client invested appropriately for their needs, with adequate risk protection, structuring and estate planning provisions in place. Even small tweaks to a financial plan over a long period of time can result in drastically better outcomes for our clients which eclipses the fees of the financial advice. Additionally, you can opt-out of an ongoing fee arrangement at any time.

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“Should I pay more off my mortgage or put more money into super?”

One thing to consider is the interest rate on your home loan in comparison to the rate of return on your super fund. Before making a decision, it’s also important to weigh up your stage in life, particularly your age and your appetite for risk. Whatever strategy you choose you’ll need to regularly review your options if you’re making regular voluntary super contributions or extra mortgage repayments. As bank interest rates move and markets fluctuate, the strategy you choose today may be different from the one that is right for you in the future

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Evalesco Financial Services Level 17, 20 Bond Street Sydney NSW 2000
Phone: (02) 9232 6800

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