HOW WILL THE 2020 BUDGET AFFECT YOUR CAFE

by | Oct 7, 2020 | News | 0 comments

increase cafe sales: tried and tested strategies for 2021

Looking for tips to increase your cafe sales? To increase cafe sales, you can: hire friendly staff, train your barista, expand your menu, introduce loyalty offers, offer free sampling, do social media marketing, set up an engaging website, upselling, loyalty programs,...

How to price a cup of coffee in Australia?

 If you are looking to know how to price a cup of coffee, is your intention really just to know what is your cost? Of course, you want to calculate the revenue that a cafe business will bring you. To efficiently price a cup of coffee here in Australia, these are...

HOW TO START A COFFEE BUSINESS IN AUSTRALIA?

Looking to start a coffee business in Australia and don't know where to start? How good would it be to get advice from an experienced coffee owner? You’ve landed the right place: in this post, we'll share with you which steps we took to create not only our own coffee...

What is the cost to open a cafe in Australia?

If you plan to open a cafe soon, the following question has surely crossed your mind: how much money do you need to open a cafe in Australia? Obviously, the costs might vary a lot, especially if you compare buying an existing business with starting your own café from...

Make your cafe successful in 2021

Many people start a coffee shop thinking that it will be an easy-to-manage lifestyle-driven business. It surely CAN become that, if you know what you are doing. But just having a cool name and offering cheap breakfast combo options is not enough to stand out. So the...

How to open a cafe with no experience in 2021

Do you fancy a career change? Opening a cafe is the choice of many people that are looking into starting a new small business, especially for the daylight, morning healthy lifestyle it provides. Although it might seem easy to manage at first, starting a coffee shop...

How Important is a Good Coffee Supplier for Your Coffee Shop?

When it comes to running a coffee business successfully, choosing the best coffee suppliers is incredibly important. These coffee suppliers are known to be the unsung heroes of your business and play a vital role in the growth and development of success. Coffee...

How to Start a Business: 8 Steps to Open a Coffee Shop in Australia

Are you planning to start a new business? Is the idea of opening a coffee shop in your mind? If yes, you might be searching for a proper step-wise procedure for opening a coffee shop in Australia. Search no more. This guide will provide complete guidance on starting a...

La Marzocco Linea Mini: home-barista coffee machine review

BUY LINEA MINI The Linea Mini is a coffee machine that bridges the at-home and commercial markets. Whether you’re looking for a coffee machine for your coffee shop, starting a pop-up coffee shop, or just refining your coffee-making skills at home, it’s a handy...

Coffee Wholesale Operator

Salary and Remuneration: TPV = $60K p.a (incl. supperannuation) + Bonuses Full time including: Sunday, Monday, Tuesday, Wednesday and Thursday Part time: negotiable. Are you a Barista looking for the next step up within the coffee industy? Do you have an...

2020 BUDGET OUTLINES

As per our Federal Treasurer Josh Frydenberg statement Covid debt to reach $213.7 billion this year and $66.9 billion by 2023/2024, putting Australian net debt in 44% of the GDP, however in comparison Australia net debt is only 1/2 of UK and 1/3 of US and 1/4 in Japan, putting Australia in much better position by comparison.

By comparison Australian contracted 7% June Quarter whereas 14% in France , 12% New Zealand and 20% United Kington.

FROM THE 2020 BUDGET WHAT ARE THE MOST IMPORTANT INITIATIVES THAT CAN AFFECT YOUR CAFE, PUB OR RESTAURANT YOU MUST CHECK IF YOUR ACCOUNTANT.

From last night, over 99% of business can write off full value of any eligible asset they purchase for their business as long as turn over under $5billion dollars until June 2022, unlocking further investment and dramatically expanding the nation production helping Australians to be back to work.

HERE ARE THE KEY INCENTIVES WE BELIVE WILL HAVE VERY POSITIVE IMPACT ON THE ECONOMY’s RECOVERY.

  • Job Maker Program – available for up to 12 months for each new job and is avaialbe from tomorrow to employers who hire eligible employees ageing from 16-35. Employees will have to work for 20 hours. 
Employing a 16 years old under JobMaker program at $10.41 per hour ($208.20)  Can save your business $96.06%
Employing a 18 years old under JobMaker program at $10.41 per hour ($208.20)  Can save your business $68.59%
Employing a 21 years old under JobMaker program at $10.41 per hour ($208.20)   Can save your business $48.03%  
  • Apprentice Wage Subsidy – The Government will introduce a new 50 per cent wage subsidy for all businesses that take on new apprentices over the period 5 October 2020 to 30 September 2021. The Hiring Credit shall be paid quarterly in arrears at the rate of $200 per week for those aged between 16-29, and $100 per week for those aged between 30-35. Eligible employees are required to work a minimum of 20 hours per week. 

 

  • Tax Concessions– The Government is expanding access to a range of small business tax concessions for small to medium businesses by lifting the aggregated annual turnover threshold from $10 million to $50 million, providing tax relief and reducing red tape for businesses.

 

  • Temporary loss carry backs -Losses incurred in 2019–20, 2020–21 and/or 2021–22 can be carried back against profits made in or after 2018–19. Eligible companies may elect to receive a tax refund when they lodge their 2020–21 and 2021–22 tax returns and Losses incurred to June 2022 can be offset against prior profits made in or after the 2018-19 financial year.

 

  • Temporary Full Expensing – From 6 October 2020 until 30 June 2022, businesses with turnover up to $5 billion will be able to deduct the full cost of eligible depreciable assets of any value in the year they are first used or installed ready for use. The cost of improvements made during this period to existing eligible depreciable assets can also be fully deducted and Eligible businesses that acquire eligible new or second-hand assets under the enhanced $150,000 instant asset write-off by 31 December 2020 will also have an extra six months, until 30 June 2021, to first use or install those assets. This temporary tax incentive will considerably support new investments and deliver significant cash flow benefits to businesses. Eligible businesses will also be able to acquire eligible new or second-hand assets under the enhanced $150,000 instant asset write-off by 31 December 2020 will also have an extra six months, until 30 June 2021, to first use or install those assets.
 

OTHER INVESTMENTS INCLUDE BUT IS NOT LIMITED TO:

  • Plan to ensure Australian  $1.3B investment modern manufacturing plan, $2bil additional in research and development incentive rewarding business that invest most on it.
  • $1B for university research.
  • $1.9B new fund to support lower emissions and renewable Technologies helping to lower emissions and address climate change, hence expecting to generate more jobs.
  • Unlock 5 key gas basis ensuring gas at lower price and supporting more jobs in Australian manufacture sector.
  • Expand the 10 years plan on infrastructure pipeline to create and increase jobs to boost productivity by infrastructure upgrade all across the nation.
  • $2B upgrade in roads safety to create more jobs
  • $2B in concessional loans package of measure in regional areas to support regional tourism.
  • $3.7M in incentive to Australian exporters.