Business Support Information for Covid-19

With the rapidly changing environment surrounding the Coronavirus COVID-19 and the amount of information being supplied by both Federal and State Governments,  there is a wealth of information and support for businesses to digest. 

To assist our clients in finding information about financial assistance, eligibility and timing for government support we’ve created a number of summary documents and resources below. 

We’ll be updating this page as new information is available. 

If you need more tailored advice or have questions in relation to your specific business please ensure that you speak with one of our Directors.   

Australian Federal Government Assistance

Government Announces New JobKeeper Payment

The Government has announced a $130 billion JobKeeper payment to help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus.

Click here for the full article.

ATO Announces Approach to SMSF Rent Relief

Click here for the full article.

Second Stimulus Package: 

On 22 March 2020, the Federal Government announced its second stimulus package to protect the Australian economy from the economic impact of the Coronavirus.

1. Boosting cash flow for employers

2. Temporary relief for financially distressed businesses

3. Support for immediate cash flow needs for SMEs

4. Income support for individuals

5. Payments to support households

6. Temporary early release of superannuation

7. Temporarily reducing superannuation minimum drawdown rates

8. Reducing social security deeming rates

Click here for the full article.

First Stimulus Package Announcement

In this article we summarise the key points from the Federal Government’s first stimulus package announcement:

1. Instant asset write off extension & accelerated depreciation

2. Cash payments for small businesses

3. Apprentice & trainee support

4. Welfare extensions

5. Healthcare boost

ATO Support

Click here for the full article.

Queensland Government Support

QLD COVID-19 Jobs Support Loans – APPLICATIONS OPEN

The Qld Government $500 million COVID-19 Jobs Support Loans scheme is being provided to assist Queensland businesses and non-profit organisations financially impacted by COVID-19 retain employees and maintain their operations.
 
Applications  are now open, we recommend submitting your application ASAP as numbers are limited.
 
Further details can be found in the links below:
Program details
Guidelines
FAQ’s

Queensland Government Payroll Tax Relief – Second Announcement

Employers who pay $6.5 million or less in taxable wages may be eligible for the following payroll tax relief measures:

  • Refunds of payroll tax for 2 months
  • A payroll tax holiday for 3 months
  • Deferral of paying payroll tax for the 2020 calendar year

Click here for the full article.

Queensland Government Support for Business – First Announcement

Two key announcements:
  1. Deferred payroll tax payments
  2. Immediate Industry Recovery Package

Click here for the full article.

Government premises rent relief

Six months relief for businesses renting government premises.

Click here for the full article.

Other resources

Northern Territory Government’s COVID-19 Economic Response.

The Territory administration will deliver a $65 million Jobs Rescue & Recovery Plan to protect employers and their workers from the deep economic impacts of the coronavirus.

Click here for the full article.

State by State Guide to Payroll Tax Relief

State and Territory Governments have announced several payroll tax relief measures to encourage employers to retain staff.

Click here for the full article

Preparing for Business Disruption

Find out more about how your business can strategically prepare for business disruption.

Click here for the full article.

Australian Government
https://treasury.gov.au/coronavirus

State Governments
Queensland
https://www.business.qld.gov.au/starting-business/advice-support/support/novel-coronavirus

New South Wales
https://www.nsw.gov.au/news-and-events/news/health-boost-and-economic-stimulus

Canberra
https://www.accesscanberra.act.gov.au/app/answers/detail/a_id/28/~/business-advice%2C-grants-and-assistance

Victoria
https://www.business.vic.gov.au/disputes-disasters-and-succession-planning/illness-and-business-management-plan/coronavirus-business-support

Tasmania
https://www.business.tas.gov.au/coronavirus_information

Western Australia
https://www.smallbusiness.wa.gov.au/blog/coronavirus-stimulus-package-small-business

Northern Territory
https://coronavirus.nt.gov.au/community-advice/business

Finance Industry

Westpac
https://www.westpac.com.au/help/disaster-relief/coronavirus

Commonwealth Bank
https://www.commbank.com.au/latest/coronavirus.html

ANZ
https://www.anz.com.au/promo/covid-19

NAB
https://www.nab.com.au/personal/customer-support/covid19-help

St George
https://www.stgeorge.com.au/about/sustainability-and-community/disaster-relief/covid-19?pid=iac:br:COVID_2003::hpg_a

Suncorp
https://www.suncorp.com.au/insurance/covid19-information.html

Macquarie Bank
https://www.macquarie.com/au/personal/coronavirus

Real Estate Industry Bodies
REIQ
https://www.reiq.com/

REINSW
https://www.reinsw.com.au

REIACT
https://www.reiact.com.au/?fbclid=IwAR1Xr_tLV8zCLbW2VVgZqyADXDNlf0C83_DBwjAu9wAvMLLdhK-Nw0Efg3g

REIV
https://reiv.com.au

REINT
https://www.reint.com.au

REITAS
https://www.reitas.sg

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