Businesses

    A range of assistance measures may be available to your small-medium business:

    • JobKeeper Payment 
      • The JobKeeper Payment is a subsidy to businesses, which will keep more Australians in jobs through the course of the COVID-19 outbreak. Employers will receive a payment of $1,500 per fortnight per eligible employee. More information available here.
    • PAYG Cashflow Assistance:
      • Businesses, not for profits and charities that turnover less than $50M annually, may be eligible to receive up to $100,000 in cashflow assistance. If you employ staff, ensure you lodge your March 2020 activity statement to be eligible for this assistance. More information is available here.
    • Rental Eviction Moratorium:
      • Commercial and residential evictions will be put on hold for the next 6 months for those tenants in financial distress due to impacts of COVID-19. Commercial tenants, landlords and financial institutions are encouraged to talk about short term agreements.  Further information available here.

    • Queensland Government Concessional Loans: 
      • Concessional loans of up to $250,000 (with an initial 12-month interest free period) applications now open. Apply here
    • Queensland Payroll Tax:
      • If you pay payroll tax in Queensland, you may be eligible for for one or more payroll tax relief measures. Register here.
    • Coronavirus SME Guarantee Scheme:
      • The Government is providing a guarantee of 50% to small and medium enterprise (SME) lenders for new unsecured loans to be used for working capital. Loans can be up to $250,000 per borrower, for up to 3 years with an initial 6 month repayment holiday. Further information available here.
      • Banking Assistance:  
        • Major Australian financial institutions have also announced a range of measures to ease the impact for small and medium sized businesses. The measures include improved access to credit, loan payment deferrals, interest rate reductions and changes to credit limits, among other things. The Federal Government has also committed support to these institutions to enhance lender willingness and ability to provide credit. For further information, visit here.
      • Loan Deferrals:
        • Australian Banking Association has announced that businesses with total business loan facilities of up to $10M will now be able to defer repayments for loans attached to their business for 6-Months. More information available here.
      • Instant Asset Write-off: 
        • Businesses, with an annual turnover of less than $500M, may be eligible for an immediate asset write off for any assets (up to $150,000) purchased between now and 30 June 2020. The write off will be reflected in your FY20 income tax return. Other accelerate depreciation measures have also been announced for businesses. More information available here.
      • Apprentices & Trainees: 
        • If you employ apprentices or trainees, you may be eligible to a 50% subsidy of their wage for up to 9 months (from 1 January to 30 September 2020) up to a total of $21,000. Registrations open 2 April 2020, with eligibility assessed by an Australian Apprentice Support Network provider. More information available here.
      • Relief for Financially Distressed Businesses:
        •  A range of measures have also been announced to provide temporary relief for financially distressed businesses and their Directors against being pushed unnecessarily into insolvency or being wound up. More information available here.
      • ATO Tax Support: 
        • The ATO has announced a range of tax administrative measures to ease the cashflow challenges faced by business tax payers. These measures however are not automatic and must be applied for through the ATO. More information available here.
      • Human Resources Assistance:
        • To further understand your obligations as an employer in regard to your employees, contact Fair Work Australia or visit here for more information. 
      • Pandemic Leave and Leave Flexibility:
        • The Fair Work Commission have released their intention to update 103 awards during the COVID-19 outbreak, this will allow for unpaid pandemic leave and flexibility to take annual leave at half pay. These proposed variations would be in place until 30 June 2020. More information available here.
      • Market Diversification & Resilience Grant:
        • Grants now available to provide agriculture, food and fishing exporters and their supply chain partners with matched funding to help them diversify into new markets and purchase new equipment. Application details can be found here.
      • Assistance for Affected Regions, Communities and Industries: 
        • The Government has set aside $1 billion to support regions and communities that have disproportionately affected by the economic impacts of Coronavirus, including industries such as tourism, agriculture and education. The assistance will be provided through existing or newly established Government programs. More information available here.
      • Restaurant, Clerks and Hospitality Award Changes:
        • Awards for Restaurant, Clerks and Hospitality have changed to add flexibility for employers to adjust employee classifications, duties, hours of directions to take annual leave. The changes apply  to 30 June 2020. Further information available here. 
      • COVID-19 Posters 
        • There are downloadable posters available for businesses to communicate with their clients and customers about changes in circumstances due to COVID-19. These can be found here.

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