When the R-word found its way into the Australian economic commentary last month, few of us were particularly surprised that Australia's record 28 year growth had come to the end of its run. Comparatively speaking, Australia has fared better than many similar economies, with a 7% contraction compared to the US's 9% or the UK's 20% due to COVID-19.
There are a lot of unknowns for the short-mid term for Australia's business sector and this month, we explore forecasting in a pandemic, valuing a business for sale, and how JobKeeper and other grants may impact your tax position.
As always, if you have any queries, contact our team on 9957 4033.
This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.