Update Friday 27 November
Smart Company reported that small businesses affected by COVID-19 may qualify for insurance payments, after insurers lost a test case in the New South Wales Supreme Court of Appeal.
In the case, brought by the Insurance Council of Australia, insurers argued that businesses were not covered under their business interruption polices if they had suffered losses due to COVID-19.
The court rejected the insurers’ arguments on the basis that the policies referred to the now-repealed Quarantine Act, which was replaced in 2015 with the Biosecurity Act.
SME's heavily affected by COVID-19 have not been able to make insurance claims.
The court found that COVID-19 was not considered a ‘quarantinable disease’, making insurers potentially responsible for thousands of claims.
Small and medium operators that have lost income due to lockdown restrictions would potentially stand to win from the judgement.
If you have any questions, please contact your insurer.
Source and credit: Smartcompany.com.au
Processing cut off dates for the Small Business Superannuation Clearing House are coming up as the ATO approaches its annual office closure.
Key dates to be aware of are:
14 December 2020 - all Super guarantee (SG) payments made after this date will be processed from 4 January 2021
28 January 2021 - SG quarterly payments are due.
You will continue to be able to access ATO online systems during this time.
Find out about:
Small Business Superannuation Clearing House
Just a reminder that our office will be closed for Christmas from;
5 pm Tuesday 22nd December 2020 and reopening Monday 11th January 2021
We wish you and your families a very peaceful Christmas and New Year.
30 November 2020 September quarter SG charge statement due
21 December 2020 October monthly BAS due