How Crest Accountants can help Tourism Operators

Tourism Operators

Tourism operators and those throughout the tourism industry have been experiencing tough and uncertain times over the last year.

In response, Australians have been encouraged to dine and enjoy, relax and explore in their own state, territory and country – the place they call home.

There’s no definitive end in sight and no return to normal on the cards just yet, so how can tourism operators stay viable and hopeful for the return of steady business?

It’s possible with Government grants and business tools. A professional, business accountant on the Gold Coast is where you can turn for specialised business accounting advice.

So, how exactly can an accountant help tourism operators?

Read more from Crest Accountants to find out.

COVID-19 International Tourism Adaption Grant

In the later months of 2020, the Queensland Government released a tourism-specific grant as part of the Queensland Economic Recovery Strategy.

What are the key objectives of this Queensland grant?

  • For tourism operators to pivot their products, services and/or marketing towards the domestic market instead of the usual international markets.
  • To allow the same tourism operators meet operating costs while business is in downtime, until international markets can open up and revisit again.

Crest Accountants are here for everyone in the tourism sector.

Other Government help for businesses

Are there any other grants my tourism business can access? Yes, there are!

  • Small Business Digital Grants program

Matches funds of up to $10,000 (not including GST) for eligible businesses to enhance digital capacities for their business, to facilitate competition and employ more staff.

  • Mentoring for Growth program

This program enables access to volunteer business professionals who can provide insights and strategise business options and how to harness opportunities and overcome challenges.

To access these, give us a call to find out whether you’re eligible.

JobKeeper 2.0 – are you eligible?

The JobKeeper scheme, a payment made to eligible businesses and NFP’s affected by Coronavirus, has been a lifeline for many tourism and hospitality operators. It has also been extended from the 28th of September 2020 until 28th March 2021.

The rates of payment will change and there are two extensions.

  • JobKeeper extension 1

From 28th of September 2020 to 3rd of January 2021, your business will need to show that your actual GST turnover declined in the September 2020 quarter relative to a comparable period.

  • JobKeeper extension 2

From 4th of January 2021 to 28th of March 2021, your business will need to show your actual GST turnover declined in the December 2020 quarter relative to a comparable period.

Not sure if you meet the criteria to still access JobKeeper payments for your tourism business?

Talk to us.

5 ways to restructure your tourism operations

  1. Look inward – revisit and restructure your business for the better – now is the time!
  2. Focus on building a community, within your community – #buylocal and #supportlocal
  3. Provide more goods and services for delivery (where possible)
  4. Remind your clients and market that you’re open for business
  5. Chat with your accountant and financial adviser for clarity and assistance in accessing all relevant and eligible grants, incentives and support.

Need guidance and support for your tourism business?

Contact Crest Accountants today.

 

Disclaimer: The information contained in this news post is general in nature and is intended to provide a general summary only and should not be relied on as a substitute for professional advice.

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