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In light of the recent global events surrounding the Coronavirus (COVID-19), we felt it important to let you know that we expect no major interruptions to the services that we provide to our clients.

We are here to provide you with a level head and a steady hand during this time - and to help you focus on your long term plans, along with opportunities you can take now to prepare for a brighter future.

OUR MUKIWA TEAM

Our office in the Lifestyle Building is still open and will continue to be so unless we receive a directive to otherwise close.

If we are required to work from home, our investment in the latest cloud technology means we will be able to continue assisting you from any location.

All members of our team are able to work remotely and have access to all the technology systems and tools they use daily to assist you, our clients.

So, please email or phone your Mukiwa consultant - we are here to help you!

CLIENT MEETINGS

As a precaution, we are however proposing to hold all client 'face-to-face' meetings via video conference (Zoom) or phone, for the foreseeable future.

GOOD ADVICE IS NEEDED NOW MORE THAN EVER

Below are a number of key matters we believe you need to be aware of in relation to how the COVID-19 virus might impact you and your business. We also highlight our Business Continuity Plan template which you may find useful.

1. Business and Tax

Government Stimulus to weather COVID-19 impact:

Last week the Prime Minister announced the details of a $17.6b stimulus package to support businesses, all of which is to be spent by the end of June this year. The measures are estimated to add 1.2% of GDP to the domestic economy, the intention of which is to save jobs and provide subsidies to help keep apprentices employed.

Our recent client communication is available on the following link Coronavirus (COVID-19) Stimulus Package – What You Need to Know

** We understand there is a 2nd Stimulus plan imminent and we will provide details as soon as we receive more information on this.

How does COVID-19 impact Employers and Employees:

Employees and employers are encouraged to work together to find appropriate solutions that suit the needs of individual workplaces and staff. This may include taking different forms of leave, working from home, or taking extra precautions in the workplace. The Australian Fairwork Ombudsman has provided full details on workplace entitlements and obligations in the following link Coronavirus and Australian Workplace Laws

Australian Tax Office Support:

The ATO is implementing a series of administrative measures to assist Australians experiencing financial difficulty as a result of the COVID-19 outbreak.
Speak with your Mukiwa consultant today so we can work with the ATO to assist you and put your mind at ease.

2. Business Continuity Planning

To help you get through this crisis event, and to keep you focused on your long term strategies, we have put together a Business Continuity Plan template.

It is packed full of tips to help your business in these troubling times and we're making it available to our clients at no cost (website cost $250). If you would like a copy please email us at admin@mukiwa.com.au

3. Share Market Volatility

The share markets have crashed due to fear and uncertainty in the marketplace. As has been the case before, when this crisis is over the markets will quickly pick up again. Keeping a long term focus and not panicking now is the key to success.

4. Updated Will and Eduring Power of Attorney (EPOA)

If you have to self-quarantine or are admitted to hospital, if you don’t have an EPOA then no-one else can make important business or financial decisions on your behalf.

We strongly recommend that you have an up to date EPOA and Will, and that your family know where these are stored.

Check with your lawyer or legal representative to ensure that all of your documents are current and in place.

NEXT STEPS

This difficult time will pass, and it is more important than ever that we all work together to get through this next phase of this global pandemic.

We would suggest using this time as an opportunity to streamline your business so that you are primed for success when we do turn the corner and come out of this crisis. Review & document your internal processes for example - we're certain you will be able to cut out unnecessary tasks. Alternatively, work with your accountant to to see if there are opportunities to improve cashflows. Work on your business, not in your business.

These are times when we need to stay calm and rely on reliable news sources and information from State and Australian Government websites. What you see on social media may be panicky and unreliable information – so try and stay away from such sources if possible.

Our team at Mukiwa are here to help you. Please reply to this email or contact your consultant if you need any assistance.

More updates to follow as we get them. Until then, stay safe.
From the Mukiwa Team

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