Is your business eligible for government assistance?

3rd April, 2020 | Written by Amber D.

As the COVID-19 Crisis continues to deeply affect our country, the Australian Government has put various measures in place to support the economy, and halt industries from crumbling. As of this week, the Government has pledged a total of $189 billion in stimulus packages.

Small businesses across the country, as well as entrepreneurs and local businesses can be eligible for government assistance. Not sure if this applies to you and your business? Well, we’ve summarised the key facts that you need to know. 

• Fees waived

  • The NSW Government has waived fees and charges for businesses that operate within vulnerable sectors. These sectors include the hospitality, events and trades industries. It has not been made clear how long this amendment will be active.

• Commercial tenancies

  • For businesses with less than 20 employees, the Government has deferred rent payments on government properties.

• Payroll tax

  • The NSW Government has scrapped payroll tax for the next three months. Note, the waiver is available for businesses with a payroll of up to $10 million. This waiver is being installed automatically. There will also be upcoming payroll tax cuts implemented in the new Financial Year. So stay tuned.

Introduction of the JobKeeper Payment for employers and employees. Look. Into. This!

Under the JobKeeper payment, businesses impacted by the COVID-19 crisis can access a subsidy from the Government to continue paying their employees. Affected employers can claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020 for a maximum period of 6 months.

Not sure if this applies to you? You and your business will be eligible if:

• Your business has a turnover of less than $1 billion, and your turnover has fallen by more than 30%. Or

• Your business has a turnover of $1 billion or more, and your turnover has fallen by more than 50%; and

• Your business is not subject to the Major Bank levy.

To establish that your business has faced either a 30% or 50% in turnover, you need to prove that this has fallen in the relevant month or three months, relative to your turnover last year. I.e. February to April 2020 needs to be compared to February to April 2019. For more information, check out this website.

Important: 

As the COVID-19 crisis is constantly changing and developing, the Australian Government is having to jump leaps and bounds in an effort to keep up. As a result, government policy, information and packages are constantly changing. It is crucial that you regularly check the official Government websites, and are aware of  any policy changes that may affect you and your business!

Throughout this crisis, be sure to get your information from official sources. We’ve provided some links below.

• Latest COVID-19 news, updates and advice from government agencies across Australia.

• World Health Organisation global statistics on COVID-19.

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In need of urgent Baristas, Bartenders, Wait Staff, Front of House, Kitchen Hands, Chefs, Cooks? SHFTHero has got you covered. 

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