Federal Government Support for Businesses

 

The Australian Government is supporting Australian businesses to manage cash-flow challenges and retain employees. Assistance includes cash-flow support to businesses and temporary measures to provide relief for financially distressed businesses. 

JobKeeper Payment

The JobKeeper Payment is a scheme to support businesses significantly affected by the coronavirus to help keep more Australians in jobs. Learn more about how the JobKeeper payment can help employers and sole traders.

Download the fact sheet (PDF 222Kb).

Cash flow support for small and medium businesses

The Government is providing temporary cash flow support of up to $100,000 for eligible small and medium-sized businesses, and not-for-profits (NFPs) that employ staff to help with their cash flow so they can keep operating, pay their rent, electricity and other bills and retain staff.

Download the fact sheet. (PDF 217Kb)

Temporary relief for financially distressed businesses

The Government is temporarily increasing the threshold at which creditors can issue a statutory demand on a company and the time companies have to respond to statutory demands they receive. The ATO will tailor solutions for owners or directors of business that are currently struggling due to the Coronavirus, including temporary reduction of payments or deferrals, or withholding enforcement actions including Director Penalty Notices and wind-ups.

Download the fact sheet (PDF 198Kb).

Increasing the instant asset write-off

The Government is increasing the instant asset write-off threshold from $30,000 to $150,000 and expanding access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million) until 30 June 2020.

Download the fact sheet (PDF 787Kb).

Backing business investment

The Government is providing 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.

Download the fact sheet (PDF 787Kb).

Supporting apprentices and trainees

 To support small businesses to retain their apprentices and trainees, eligible businesses can apply for a wage subsidy of 50 per cent of the apprentice’s, or trainee’s wage paid during the 9 months from 1 January 2020 to 30 September 2020. Employers will be reimbursed up to a maximum of $21,000 per eligible apprentice or trainee ($7,000 per quarter).

Download the fact sheet (PDF 196Kb).

Not-for-profit organisations

The Government is providing vital support for not-for-profits (NFPs) to withstand the economic impacts of the Coronavirus.

Download the fact sheet (PDF 205Kb).

Support for sole traders

The Government is providing vital support to sole traders to withstand the economic impacts of the Coronavirus.

Download the fact sheet (PDF 268Kb).

 

Take care of you and your employees

Utilise support services available to you and your employees from Lifeline (13 11 14) and Beyond Blue (1300 22 4636 or online chat