Go to secondary navigation

Coronavirus (COVID-19)
Influencing Public Policy

Overview
Business Advice
Impact on CPA Australia
Influencing Public Policy
Regulatory Response


CPA Australia has been proactively engaging with government and other stakeholders to support our members and the broader public interest on matters relating to COVID-19. We have published our submissions to government, our media engagement and analysis of government updates and stimulus packages.

Continue to explore our vast resources, advice and guidance on COVID-19 for other key topics.


Submissions to Government

CPA Australia is proactively advocating for members during this time, given the essential role of accountants and accounting practices to support businesses and the community as they respond to the unprecedented economic impact of COVID-19.

Read our submission to the coronavirus business liaison unit and the Federal Treasurer (PDF) detailing this essential role and requesting that accountants be permitted to continue operating as an essential service.

 Submission to the Assistant Treasurer – certainty for Division 7A
The joint bodies have written to the Assistant Treasurer in relation to current uncertainty surrounding Division 7A of the Income Tax Assessment Act 1936 (Cth).
Last Updated 27 May 2020 | PDF

 Submission to Commissioner of Taxation – request for further lodgement deferrals in response to COVID-19
The joint bodies have written to the Commissioner of Taxation to consider extending the lodgement deferral period to 30 June.
Last Updated 21 May 2020 | PDF

 Submission to Commissioner of Taxation from the Public Practice Advisory Committee
CPA Australia’s Public Practice Advisory Committee (PPAC) has written to the Commissioner of Taxation to request an extension to lodgement deferrals.
Updated 20 May 2020 | PDF

 Submission to the National COVID-19 Coordination Commission regarding digitising business
This submission provides recommendations and suggestions for digitising business in Australia using data from CPA Australia’s 11th Annual Asia Pacific Small Business Survey.
Uploaded 18 May 2020 | PDF

 Letter to the Financial Reporting Council regarding lodgement deadlines, standard setting and other matters
The joint bodies have written to the Financial Reporting Council (FRC) to provide input and recommendations to the FRC COVID-19 working group.
Uploaded 24 April 2020 | PDF

 Submission to the ATO regarding coronavirus economic response package (payments and benefits) rule 2020
CPA Australia has written to the ATO regarding the coronavirus economic response package (payments and benefits) rule 2020 – dealing with service entities by legislative instrument and guidance.
Last updated 16 April 2020 | PDF

 Submission to the Coronavirus Business Liaison Unit on a proposal for business advice grants or vouchers
CPA Australia and Chartered Accountants Australia and New Zealand have proposed that the government considers business advice grants or vouchers to provide financial support to businesses seeking professional accounting advice during this time.
Last updated 9 April 2020 | PDF

 Submission to the Coronavirus Business Liaison Unit on COVID-19 tax issues
CPA Australia provided a list of issues identified to date in relation to existing legislation, the JobKeeper announcement and gaps in stimulus measures.
Last updated 3 April 2020 | PDF

 Submission to Queensland Rural and Industry Development Authority on Queensland COVID-19 jobs support loans
CPA Australia commends the Queensland government for the initiatives it has announced, and provides some suggestions.
Last updated 7 April 2020 | PDF

 Letter to the Treasurer regarding the JobKeeper stimulus package
The joint bodies offer their thoughts on issues surrounding the JobKeeper package which have arisen from questions from members.
Last updated 3 April 2020 | PDF

 Letter to the National COVID-19 Co-ordination Commission regarding exemption from state payroll tax
The joint bodies express the need for a consistent and uniform treatment of the federal government’s proposed JobKeeper payment for state payroll tax purposes.
Last updated 7 April 2020 | PDF

 Letter to the Treasury on the first economic recovery package
The joint bodies have considered the federal government’s legislation on the government’s economic recovery package and offer some observations.
Last updated 3 April 2020 | PDF

 Letter to the Assistant Treasurer and Minister for Housing: Endorsement of submission
The joint bodies’ endorsement of the submission prepared by STEP Australia.
Last updated 3 April 2020 | PDF

 Letter to the Treasury regarding tax policy measures affected by the COVID-19 crisis
The joint bodies write to the Treasurer about the need to ease the burden on taxpayers and review the tax measures that are due to take effect from 1 July 2020.
Last updated 7 April 2020 | PDF

 Letter to the National COVID-19 Co-ordination Commission regarding other matters that need to be addressed in response to the COVID-19 crisis
The joint bodies request the Commissioner to address two issues, (i) ATO request for information (RFI) be deferred for 90 days, and (ii) Division 7A loans – requesting the Commissioner to announce a temporary measure to relieve the need for taxpayers to meet the minimum loan repayment requirement.
Last updated 7 April 2020 | PDF

 Submission to Coronavirus Business Liaison Unit on financial reporting, audit and advisory services, external administration and bankruptcy
This submission highlights some of the critical issues that are being encountered, and provides suggestions on how regulators might address some of these issues.
Last updated 6 April 2020 | PDF

 Submission on tax professionals being an essential service
The joint bodies submitted a letter to the National COVID-19 Co-ordination Commission to express that the tax profession is an essential service.
Last updated 2 April 2020 | PDF

 Request for deferrals and penalty waivers
The joint bodies submitted a letter to the Commissioner of Taxation requesting lodgement deferrals and penalty waivers in response to the COVID-19 crisis.
Last updated 2 April 2020 | PDF

Media

 New Zealand: Charitable sector in no state to help Kiwis in need 
Paul Drum, CPA Australia’s General Manager External Affairs, writes about how many not-for-profits face extinction from the loss of revenue during COVID-19. New measures and announcements in New Zealand that will put cash in the hands of many business owners.
Last updated 3 May 2020 | PDF

 New Zealand Herald COVID-19 Coronavirus: SMEs to plot a course to safety
Paul Drum, CPA Australia’s General Manager External Affairs, writes about the new measures and announcements in New Zealand that will put cash in the hands of many business owners.
Last updated 16 April 2020 | PDF

 Early access to super COVID-19 measure – joint bodies ensure Australians can easily access professional advice
The joint bodies have joined forces to ensure Australians can get the advice they need to understand the Federal Government’s COVID-19 economic packages, including early access to their superannuation. It will be easier for Australians to get assistance from professional accountants and financial planners in making decisions about their financial position in the face of the COVID-19 pandemic.
Last updated 14 April 2020 | PDF

 JobKeeper will deliver a lifeline to workers and businesses, says CPAs
The government’s JobKeeper bills are now law. They will enable the delivery of critical financial relief to many and will help speed up the nation’s economic recovery.
Last updated 8 April 2020 | PDF

 COVID-19 – JobKeeper scheme a lifesaver, says CPAs
The Australian government’s third tranche of stimulus and safety net measures will go a very long way to ameliorate the dramatic impact that the COVID-19 crisis is having on businesses, workers and their families, and the economy. Paul Drum highlights the benefits of the new JobKeeper scheme.
Last updated 1 April 2020 | PDF

 COVID-19 – stimulus and safety net measures
The second tranche of the Australian government’s stimulus and safety net measures are important next steps in what is now a national health, social and economic emergency of a type most people have never experienced before. CPA Australia’s spokesperson, Paul Drum, says that the community is now more aware of the significant threat that COVID-19 poses to human health, businesses both large and small, jobs and savings.
Last updated 22 March 2020 | PDF

 Fiscal stimulus a timely boost amid coronavirus threat
The Australia government’s economic response to COVID-19, or coronavirus, announced on 12 March 2020 should provide a strong boost to many households and businesses as they face an uncertain period. Read CPA Australia’s take on this.
Last updated 12 March 2020 | PDF

Government Stimulus Summaries

 Summary of the Australian government’s stimulus measures
The Australian government and the Reserve Bank of Australia (RBA) have announced a range of measures to support the economy, business and employment during the COVID-19 crisis. The measures include support for businesses (for example, cash flow boost for employers, temporary relief for financially distressed businesses, and support from the RBA to encourage more lending by banks), support for individuals (for example, temporary early access to superannuation and reduction to minimum drawdown requirements), and ATO support.
Last updated 19 April 2020 | PDF

 Tax frequently asked questions – JobKeeper and cash flow boost
CPA Australia has prepared frequently asked questions (FAQs) for accounting and tax professionals related to the tax issues arising from COVID-19 and the Australian government’s stimulus measures.
Last updated April 2020 | PDF

 Summary of Australian states and territory governments’ economic responses to COVID-19
Australian state and territory governments have announced a range of measures to assist small to medium-sized businesses during the COVID-19 crisis. Find out what each state and territory is working on, in order to support individuals, households and businesses.
Last updated 31 May 2020 | PDF

 Payroll tax comparison between Australian states and territories
See an overview and comparison of the payroll tax changes, including waivers to assist business impacted by COVID-19.
Last updated 8 April 2020 | PDF

 Tasmanian government business continuity grant
The Tasmanian government is providing $700,000 to help Tasmanian businesses trade through and survive the economic impact of COVID-19, through one-off grants of up to $750. The grant is said to accelerate recovery once the situation improves and the trading restrictions are lifted.
26 March 2020 | PDF

 Summary of the Hong Kong government’s economic response to COVID-19
The Hong Kong SAR government has announced a range of measures to mitigate the economic impacts of COVID-19.
Last updated 15 April 2020 | PDF

 Hong Kong announced expansionary budget to support economy
The Hong Kong government has unveiled a budget for 2020-21 that is focused on supporting businesses and the wider community to counter the negative impacts of the coronavirus outbreak, as well as developing a diversified economy, nurturing talent and building a liveable city.
Last updated March 2020 | INTHEBLACK article

 The Singapore government’s economic responses to COVID-19
Singapore’s government has announced its fourth support budget in two months in an unprecedented move to help the country weather the COVID-19 pandemic. A S$33 billion solidarity budget was unveiled by Deputy Prime Minister and Finance Minister Heng Swee Keat on Tuesday 26 May.
Last updated 26 May 2020 | PDF

 The Malaysia government’s economic responses to COVID-19
The Malaysian government has announced a range of measures in collaboration with the central bank of Malaysia, Bank Negara Malaysia, government linked companies and private corporations to mitigate the economic impact of COVID-19. The measures taken to support businesses include small to medium enterprises and micro-entrepreneurs, and encourage human capital development and private investments. Individuals are supported by enhancing the daily income and a reduced cost of living.
Last updated 11 April 2020 | PDF