By Karen PantinasApril 2020
Reading Time: 2 minutes
Funds to help ease financial stress for small and medium businesses due to COVID-19 pandemic
Boston—April 29, 2020—Globalization Partners, which enables companies to hire and retain global team members without setting up complex international legal infrastructures, today announced it will issue a payroll credit to clients who have team members on the Globalization Partners’ payroll in Australia. The payouts are a result of the Australian government’s Boosting Cash Flow for Employers Measure.
This support has been initiated by the Australian government to provide a temporary cash flow boost to small and medium businesses with an annual turnover of up to AUD 50M to ease their financial stress due to the COVID-19 pandemic. Eligible businesses will receive between AUD 20,000 to AUD 100,000 from the government based on the size of their payroll withholding in two payments:
– 1st boost payment: up to AUD 50,000
– 2nd boost payment: up to AUD 50,000
Globalization Partners has received the first boost payment of AUD 50,000 and will be crediting this amount to its clients with team members in Australia. In addition, the company is expecting to receive the second boost payment of AUD 50,000 between June and September 2020 and will issue that credit to clients upon receipt.
“We know this is a challenging time for our clients and our team has been actively monitoring government assistance and relief programs to businesses around the world to determine the applicability and required qualifications,” said Nicole Sahin, CEO of Globalization Partners. “We are pleased to announce the payout of these funds to help ease some of the financial stress for our clients and the professionals we employ on their behalf in Australia.”
Globalization Partners understands that having the right support can make an enormous difference in helping companies successfully navigate the challenges associated with COVID-19. Please click here to learn about free support services that Globalization Partners is providing to its customers and prospective clients. For more information on everything from individual country updates to practical advice about working remotely please visit: COVID-19 Your Global Team is Our Priority.