The Tourism & Leisure industry is fast paced and takes forward thinking and experience to keep up with the constant changing landscape. Businesses including accommodation, hotels, attractions and theme parks can benefit greatly from a trusted expert that understands their needs and keeps up to date with the latest advice.
Tourism is a significant driver of the economic and social outcomes for Queensland, delivering more than 40,000 direct and indirect jobs and supporting more than 3,000 tourism and leisure businesses. This industry alone provides considerable revenue to Queensland, is one of the State’s largest employment sectors, and whilst international tourism only makes up eight percent (where domestic tourism is 92%) outside of Sydney and Melbourne, is Australia’s third most popular international tourism destination in Australia. The impact of recent COVID19 lockdowns and border closures has delivered a huge financial shortfall for both operators and employees in the sector.
Whilst it is anticipated that the industry will bounce back, critical to your success is partnering with advisors that know the industry and can help you recover from the impacts of COVID19.
You can be confident that we understand the tourism industry and managing your cashflow concerns. We can help by preparing budgets and forecasts, managing debtors and creditors, work in progress and stock control, as well as working with trade financiers to help smooth cash peaks and troughs.
We can also assist you to determine your superannuation and fair work requirements for full-time, part-time and casual employees as well as your obligations in engaging contractors. You may not be aware that the ATO has recently tightened its definition of who is an employee and who you now must pay super guarantee. These laws now extend to entertainers and musicians so be sure that you understand your superannuation obligations and how these relate to all employees including full time, part time, casual and semi casual staff.
Thankfully, many of the State Governments (supported by the Federal Government) have also released various industry specific COVID19 Grants to support the hospitality, tourism and leisure industries. We can work with you to determine which of these you might be eligible to apply for as well as assist you with grant submission and management.
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