‘Uncharted waters’ is the best way we can describe the volatile medical and business environments in which we are working. The impact of COVID-19 is now part of our day to day consideration in so many ways. We continue to see and hear the news regarding the severe impact that COVID-19 is having on global health and our thoughts go out to those directly or indirectly affected.
Like most companies, we have developed policies and practices that aim to protect and support our global team. We have commenced some remote work access models, whereby we have staff working in the office and home environments.
What hasn’t changed is our commitment to our customers – as far as we are concerned, we are all in this together. Our business is operationally weathering the impact of this virus; we hope this is the same for our customers and global business partners.
The most recent announcements from major airlines, massively reducing their international and domestic capacity, will have immediate and longer-term consequences. The global supply chain is compromised and is likely to become further affected in the near future.
Please let us know how we can be of assistance. We are here to support you in these difficult times.
Have you taken advantage of the Deferred GST Scheme?
If you are an Australian importer, you may be able to take advantage of the Deferred GST Scheme. Instead of paying GST on your taxable imports upfront, you can defer payment until the first BAS lodged after the goods are imported.
There are strict entry and compliance requirements, but if you can keep on top of them, the Deferred GST Scheme can help with cash flow.
The Australian Industrial Chemicals Introduction Scheme (AICIS) will replace the National Industrial Chemicals Notification and Assessment Scheme (NICNAS) on 1 July 2020 as the new national regulator of the importation and manufacture of industrial chemicals in Australia. This will directly affect anyone who imports or manufactures (introduce) industrial chemicals or products that release industrial chemicals into Australia for commercial purposes.
Further information can be found here.