While frontline health professionals have been saving the lives and health of Australians during the COVID-19 disruptions, accountants have been working flat out to save the businesses and livelihoods of their clients.
Major Government stimulus packages such as JobKeeper and the business cash flow boost payments have been critical in keeping many businesses operating, and these business owners have relied heavily on their accountants to understand the programs and lodge applications on their behalf.
For many accountants, this has created a major stream of new work, with new rules, conditions and eligibility requirements, and for some it has escalated their levels of stress.
“This has been a torrid time for many in the accounting profession and many are struggling with a tsunami of work which just came out of the blue,” says Paul Drum, General Manager of External Affairs at CPA Australia.
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