COVID-19: What you need to know today

Editor’s note: Our advocacy with government continues apace. We are working daily with Federal and State and Territory Governments to advocate for the ‘essential’ nature of our Members businesses which is the back channel discussion in Government at the moment. Sectors we are working with include cleaning suppliers, agricultural producers and food processing, automotive repair and servicing and financial services. I am available 24/7 during this crisis if you have concerns or updates to report. My mobile is 0410 902 656. We are also deluged with Members’ stories about how you are supporting your community. Please keep these coming as they provide the evidence that CMEs matter in times of crisis that we use to scaffold our discussions with policy makers.

Just in: Financial assistance could be vital for many, with job losses from coronavirus set to increase rapidly.

GOVERNMENT

QLD borders to close from midnight Wednesday
Freight is expected to be exempt from the restrictions 

The coronavirus shutdown is here. So what’s banned in Australia and what’s not?
Most businesses, including major retailers and department stores, can continue to run if they comply with social-distancing guidelines 

APRA adapts 2020 agenda to prioritise COVID-19 response
The Australian Prudential Regulation Authority (APRA) has suspended the majority of its planned policy and supervision initiatives in response to the impact of COVID-19.

 

ECONOMY AND BUSINESS 

The IMF has warned that the global recession from Covid-19 could be worse than the global financial crisis in 2008

Coronavirus pandemic could see house prices plummet by 20 per cent, economists warn

Queensland to find $4 billion to save small and medium businesses 
The Queensland Government will extend tax breaks for small to medium-sized businesses to help prevent significant job losses in the coming weeks due to the coronavirus pandemic.

RESOURCES

Coronavirus information and support for business
Find financial assistance, eligibility and timing for the new government support for Australian businesses. 

FAQs- Impact of Coronavirus on Financial Reporting and the Auditor’s Considerations
All financial report preparers and audit practitioners should consider the impact of Coronavirus on interim and annual financial reports 

 

CO-OPERATIVES AND MUTUALS

Coronavirus has hit small businesses around Australia. Here’s how you can help

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