Latest Accounting News

Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home/sowacctw/public_html/articles/sow_server_v3.php on line 530
Hot Issues
Time for a superannuation check-up?
Scam alert: fake ASIC branding on social media
Millions of landlords the target of expanded ATO crackdown
Government urged to exempt small firms from TPB reforms
ATO warns businesses on looming TPAR deadline
How to read a Balance Sheet
Unregistered or Registered Trade Marks?
Most Popular Operating Systems 1999 - 2022
7 Steps to Dealing With a Legal Issue or Dispute
How Do I Resolve a Dispute With My Supplier?
Changes to Casual Employment in August 2024
Temporary FBT break lifts plug-in hybrid sales 130%
The five reasons why the $A is likely to rise further - if recession is avoided
June quarter inflation data reduces risk of rate risk
‘Bleisure’ travel claims in ATO sights, experts warn
Most Gold Medals in Summer Olympic Games (1896-2024)
Estate planning considerations
5 checklists to support your business
Are you receiving Personal Services Income?
What Employment Contracts Does My Small Business Need?
The superannuation changes from 1 July
Hasty lodgers twice as likely to make mistakes, ATO warns
Landlords who ‘double dip’, fudge deductions in ATO crosshairs
Most Spoken Languages in the World
Tax Time Checklists - Individuals; Company; Trust; Partnership; and Super Funds
Compare your business
2024 Year End Tax Planning Guide (Part 2)
Articles archive
Quarter 2 April - June 2024
Quarter 1 January - March 2024
Quarter 4 October - December 2023
Quarter 3 July - September 2023
Quarter 2 April - June 2023
Quarter 1 January - March 2023
Quarter 4 October - December 2022
Quarter 3 July - September 2022
Quarter 2 April - June 2022
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
Quarter 3 July - September 2014
Quarter 2 April - June 2014
Quarter 1 January - March 2014
Quarter 4 October - December 2013
Quarter 3 July - September 2013
Quarter 2 April - June 2013
Quarter 1 January - March 2013
Quarter 4 October - December 2012
Quarter 3 July - September 2012
Quarter 2 April - June 2012
Quarter 1 January - March 2012
Quarter 4 October - December 2011
Quarter 3 July - September 2011
Quarter 2 April - June 2011
Quarter 1 January - March 2011
Quarter 4 October - December 2010
Quarter 3 July - September 2010
Quarter 2 April - June 2010
Quarter 1 January - March 2010
Quarter 4 October - December 2009
Quarter 3 July - September 2009
Quarter 2 April - June 2009
Quarter 1 January - March 2009
Quarter 4 October - December 2008
Quarter 3 July - September 2008
Quarter 2 April - June 2008
Quarter 1 January - March 2008
Quarter 2 April - June 2007
Quarter 2 April - June 2006
Quarter 2 April - June 2004
Quarter 1 January - March 2004
Quarter 4 October - December 2003
Quarter 3 July - September 2003
Quarter 2 April - June 2003
Quarter 1 January - March 2003
Quarter 4 October - December 2002
Quarter 3 July - September 2002
Quarter 2 April - June 2002
Quarter 1 January - March 2002
Quarter 4 October - December 2001
Quarter 3 July - September 2001
Quarter 2 April - June 2001
Quarter 2 of 2022
Articles
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

Deprecated: Function split() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 268

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 276

Deprecated: Function ereg_replace() is deprecated in /home/sowacctw/public_html/articles/sow_server_v3.php on line 277
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