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.
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
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
Queensland Government Support
QLD COVID-19 Jobs Support Loans – APPLICATIONS OPEN
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
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.
Real Estate Industry Bodies