LATEST ACCOUNTING NEWS
Tax time tips
Census 2021 Data
Single Touch Payroll: Phase 2 deferral reminder
Largest inflation rates by country in Oceania
State and Federal Disaster support --- July 2022
Write a business plan
Be wary of trust disclaimers, ATO warns
Tax time guide offers path through 100A
Car allowance increase ‘welcome news’
Tax Time Checklists - Individuals; Company; Trust; Partnership; and Super Funds
ATO zeroes in on work expenses, crypto investments
Forget the Tim Tams in your WFH claim, say ‘fun police’
Inflation will force a third of businesses to raise prices
Year-end tax planning
World GDP Ranking (1960~2025)
100A ruling ‘turns tax avoidance logic on its head’
Company directors must register - all you need to know
Be alert for phoenix activity, businesses told
Equifax signs data agreement with ATO
E-invoicing will reduce emissions, says PwC
Largest cities in the world 1500 to 2100
Last chance to claim the loss carry-back
Changes to recovery loan scheme for small and medium enterprises
About the cash flow forecasting template
Federal budget 2022: Winners and Losers
ATO puts 50,000 directors on notice.
FBT Reminder – Odometer Reading
Data matching program: government payments
Budget: Big wins for SMEs
Small businesses show sign of omicron rebound
Federal Budget 2022 - Overview
Federal Budget 2022 and YOU - Part 1
Federal Budget 2022 and YOU - Part 2
Budget at a Glance - Video
Quarter 1 January - March 2022
Quarter 4 October - December 2021
Quarter 3 July - September 2021
Quarter 2 April - June 2021
Quarter 1 January - March 2021
Quarter 4 October - December 2020
Quarter 3 July - September 2020
Quarter 2 April - June 2020
Quarter 1 January - March 2020
Quarter 4 October - December 2019
Quarter 3 July - September 2019
Quarter 2 April - June 2019
Quarter 1 January - March 2019
Quarter 4 October - December 2018
Quarter 3 July - September 2018
Quarter 2 April - June 2018
Quarter 1 January - March 2018
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Changes to recovery loan scheme for small and medium enterprises

As a part of an economic package to help businesses recover from the impacts of the COVID-19 pandemic, the Federal Government provided low-cost credit to qualifying small and medium enterprises (SMEs) through the SME Recovery Loan Scheme.



When it was first introduced, and until 31 December 2021, the government essentially guaranteed 80% of the loan amount. However, from 1 January 2022, as restrictions have eased, the government guarantee has been reduced from 80% of the loan amount to 50% of the loan amount. The eligibility conditions have also been slightly fine-tuned, with the scheme now due to end on 30 June 2022.


Eligible small and medium businesses with up to $250 million turnover can access up to $5 million in total from participating lenders.


Loans can be unsecured or secured and will generally be for terms of up to 10 years, with an optional repayment holiday period of up to 24 months. A loan can be used for a range of business purposes, including investment support or refinancing the pre-existing debt of an eligible borrower.


The maximum rate will be capped at around 7.5%, with flexibility for interest rates on variable rate loans to increase if market interest rates rise over time. Participating lenders can offer any suitable product to eligible businesses except for credit cards, charge cards, debit cards or business cards




15th-May-2022
 
CPA logo Peter I Price & Associates Pty Ltd
Phone: (07) 3376 3411| Email: info@peterprice.com.au
15 Loffs Road, Mt Ommaney QLD 4074
Liability limited by a scheme approved under Professional Standards Legislation and other than for the acts or omissions of financial services licenses.