FURTHER SUPPORT LINKS BELOW:

FEDERAL GOVERNMENT

CORONAVIRUS INFORMATION AND SUPPORT FOR BUSINESS

Financial assistance, eligibility and timing for the new government support for Australian businesses.

Updated as new information is available.

JOBKEEPER PAYMENT

Announced 30 March 2020 [via ATO]

The JobKeeper Payment is designed to help businesses affected by the Coronavirus to cover the costs of their employees’ wages, so that more employees can retain their job & continue to earn an income. Register HERE

SUPPORT AVAILABLE FOR SOLE TRADERS 

Last Updated: 24 March 2020

AUSTRALIAN BANKING ASSOCIATION

Deferral of loans for 6 months

The instant asset write-off threshold has been increased from $30,000 to $150,000 and expanded access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million). This applies from 12 March 2020 until 30 June 2020, for new or second-hand assets first used or installed ready for use in this timeframe. 

Refer also ATO Website

COMMERCIAL RENT RELIEF 

Announced 29 March 2020

BACKING BUSINESS INVESTMENT (BBI)

A time limited 15 month investment incentive (through to 30 June 2021) to support business investment and economic growth over the short term, by accelerating depreciation deductions. Businesses with a turnover of less than $500 million will be able to deduct 50 per cent of the cost of an eligible asset on installation, with existing depreciation rules applying to the balance of the asset’s cost.

INCREASED AND ACCELERATED INCOME SUPPORT

The Government is temporarily expanding eligibility to income support payments and establishing a new, time-limited Coronavirus supplement to be paid at a rate of $550 per fortnight. This supplement will be paid to both existing and new recipients of the eligible payment categories. These changes will apply for the next six months.

ASSISTANCE FOR AFFECTED REGIONS, COMMUNITIES AND INDUSTRIES [TOURISM]

The Government has created an initial $1 billion support fund to provide assistance to industries and regions severely affected by the economic impacts of Coronavirus. Currently focused on QLD – to update as other states/regions included.

SUPPORTING THE FLOW OF CREDIT: SME GUARANTEE SCHEME 

To provide businesses with funding to meet immediate cash flow needs, by further enhancing lenders’ willingness and ability to provide credit. Businesses with a turnover of up to $50 million will be eligible to receive these loans.

EARLY ACCESS TO SUPERANNUATION

Access of up to $10,000 of your superannuation in 2019-20 and a further $10,000 in 2020-21. Available to apply from mid-April 2020.

BOOSTING CASH FLOW FOR EMPLOYERS: ATO

Legislation has been enacted to provide temporary cash flow support to small and medium businesses and not-for-profit organisations that employ staff during the economic downturn associated with COVID-19 (novel coronavirus). This will be done through two sets of cash flow boosts delivered from 28 April 2020 to support employers to retain employees.

SUPPORTING APPRENTICES AND TRAINEES

Last Updated: 25 March 2020

If you employ an apprentice or trainee you may be eligible for a wage subsidy of 50 per cent of their wage paid from 1 January 2020 to 30 September 2020. You can register for the subsidy from early April 2020.

FIND OUT WHAT'S AVAILABLE FOR EMPLOYERS AND YOUR STAFF.

TAX SUPPORT

The Australian Tax Office (ATO) is providing relief for some tax obligations for businesses affected by the outbreak, on a case-by-case basis. Contact the ATO’s Emergency Support Infoline for businesses on 1800 806 218 for more information or to request this help.

FREE CHILDCARE PACKAGE

Announced 2/4/2020

The new payment under the Early Childhood Education and Care Relief Package is a payment to support Child Care

Services to remain open. Due to the impact of COVID-19, the sector has reported significant decreases in attendance and enrolments. These payments will ensure services can remain open, and families who need it can access care.

NSW GOVERNMENT

SERVICE NSW: RECRUITING FOR 1000 STAFF

The NSW Government is also adding an extra 1000 staff to the Service NSW workforce. Service NSW is already partnering with businesses such as airlines, tourism operators, pubs and clubs to match stood down employees with appropriate roles. If you're an individual looking for work, or an impacted business with staff available, register your interest online here :

HELP LINE FOR BUSINESSES

Businesses impacted by COVID-19 can call 13 77 886

LONG SERVICE LEAVE 

24 MARCH 2020The NSW Parliament passed changes to long service leave which will create greater flexibility for employers and employees to access leave during the COVID-19 crisis.

NSW COVID-19 Stage One Package

17 March 2020

Business support and jobs

• $450 million for the waiver of payroll tax for businesses with payrolls of up to $10 million for three months (the rest of 2019-20). This means these businesses will save a quarter of their annual payroll tax bill in 2019-20
• $56 million to bring forward the next round of payroll tax cuts by raising the threshold limit to $1 million in 2020-21
• $80 million to waive a range of fees and charges for small businesses including bars, cafes, restaurants and tradiesNSW COVID-19 stage two package [27 March] includes:
• deferral of payroll tax for business with payrolls over $10 million for six months (up to $4 billion deferred). Businesses with payrolls of $10 million or less received a three-month waiver on payroll tax in the first package. These businesses will now get an additional three month deferral as well
• deferral of gaming tax for clubs, pubs and hotels, and lotteries tax for six months, conditional on these funds being used to retain staff. This improves liquidity and helps these businesses stay afloat
• deferral of the parking space levy for six months
• deferral of rents for six months for commercial tenants with less than 20 employees in all Government-owned properties.

NSW COVID-19 Stage Two Package 

27 March 2020

Includes:

• deferral of payroll tax for business with payrolls over $10 million for six months (up to $4 billion deferred). Businesses with payrolls of $10 million or less received a three-month waiver on payroll tax in the first package. These businesses will now get an additional three month deferral as well
• deferral of gaming tax for clubs, pubs and hotels, and lotteries tax for six months, conditional on these funds being used to retain staff. This improves liquidity and helps these businesses stay afloat
• deferral of the parking space levy for six months
• deferral of rents for six months for commercial tenants with less than 20 employees in all Government-owned properties.

Currently there is no information available on Treasury NSW website in relation to accessing financial support measures announced March 17 and those recently released on 27th March.We will be following this up and forward links and information as soon as available, alternatively contact the NSW Business Help Line as above.

FACEBOOK SMALL BUSINESS GRANTS PROGRAM

Facebook has announced a USD$100 million small business support scheme. The program includes cash grants and

ad credits for up to 30,000 eligible businesses in 30 countries, including Australia. Applications are not yet open, but

you can register with Facebook to receive updates.

MENTAL HEALTH

• Lifeline – Counselling Support - https://www.lifeline.org.au/
• Headspace – Counselling Support - https://headspace.org.au/
• RUOK? – Counselling Support - https://www.ruok.org.au/findhelp