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KSW Insight Newsletter | March 2021

KSW Insight Newsletter | March 2021

March 2021 | Volume 153
KSW Insight Newsletters for our clients and associates

Can my SMSF invest in Bitcoin or another cryptocurrency?

The world of encrypted digital currency, commonly known as ‘cryptocurrency’ has been all the rage for quite some time, and most recently being the “in thing” for many Self-Managed Super Funds (SMSF).
 
The question is “can my SMSF invest in cryptocurrency?”
 
The answer – maybe. It is dependent on the fund’s trust deed allowing the fund to invest in digital currencies such as cryptocurrency.
 
There are many legal and practical factors that need to be taken into consideration when investing in cryptocurrency which is addressed in our latest article here

Service of the month – Valuations

Did you know that the Audit and Assurance division of Stanley & Williamson offer business valuation services? Kamal Thakkar, the head of this division, and his team, have the capability to be able to prepare limited scope valuations of businesses and entities, which can be used for many purposes.

Our practical and reasonably priced process for the preparation of fit for purpose valuations ensure that our clients receive the dedicated service and tailored product to satisfy their needs.

The full article is available here and offers examples of when a limited scope valuation is required.

Do you export? If so, don’t miss out on this incentive! 

Are you currently in the exporting business, or were you exporting goods and/or services before the impacts of COVID-19, bushfires, or drought? You may be eligible for an export assistance grant of up to $10,000.
 
The NSW State Government introduced a grant aimed to assist NSW businesses to access the global markets. The funds of the grant are to be used to offset expenses such as marketing material, inbound business support and e-commerce development, to name a few. The grant is used as a reimbursement of 50% of eligible expenses paid since 1 January 2020.
 
This article will provide an overview of the specific details and requirements to be eligible for the grant. Our team at Stanley & Williamson can assist with any further questions on eligibility and the application process.

Post Jobkeeper Government Support Package

As the current Jobkeeper support program is due to cease on 28 March 2021, the Government has announced several support programs, grants, and schemes to assist Australian businesses and workers towards a more normal way of life after COVID-19.
 
Below are the packages included in the next phase of the Government’s National Economic Recovery Plan:

  • New $1.2 billion support package includes half-price airline tickets, cheap loans for businesses and direct support for the airline industry;
  • Expansion and extension of the ‘SME Loan Guarantee Scheme’;
  • Expansion of the ‘SME Recovery Loan Scheme’; and,
  • Extension of the ‘Business Events Grants Program’.

For more information on the above packages, please contact us to speak with one of our client managers to ensure your business benefits from the new, expanded and extended programs announced.

Life at S&W

Life at S&W continues with this month’s social event at Cork & Chroma. The team put down their calculators and swapped them for paint brushes, making the most of their late afternoon, painting a very colourful abstract of a vineyard over the hills.

Quote

“The chief enemy of creativity is ‘good’ sense.” 

Pablo Picasso




Correct as at 25 March 2021

DISCLAIMER
This newsletter has been produced by Kreston Stanley Williamson as a service to its clients and associates. The information contained in the newsletter is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas contained in this newsletter, it is imperative you seek specific advice relating to your particular circumstances. Liability limited by a scheme approved under Professional Standards legislation. 

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