Federal Government Assistance
The Federal Government has introduced numerous assistance packages totalling $320 billion to support businesses retain employees and manage cash flow in response to the COVID-19 pandemic. This assistance will provide temporary financial relief to businesses and their employees, and support cash flow to ensure businesses successfully emerge from the pandemic in a strong position.
Details about the economic support available to business can be found on the Treasury website and includes information about the following measures:
- JobKeeper payment
- Boosting cash flow for employers
- Temporary relief for financially distressed business
- Increasing the instant asset write-off
- Backing business investment
- Supporting apprentices and trainees
- Support for coronavirus-affected regions and communities
- Coronavirus Business Liaison Unit
More information about the Federal Government’s economic support measures for Australian businesses can be found here: https://treasury.gov.au/coronavirus/businesses
SME Commercial Leasing Principles during COVID-19
The National Cabinet has released a Code of Conduct to impose a set of good faith leasing principles for application to commercial tenancies (including retail, office and industrial) between owners/operators/other landlords and tenants, where the tenant is an eligible business for the purpose of the Commonwealth Government’s JobKeeper programme.
These principles will apply to negotiating amendments in good faith to existing leasing arrangements as a result of the impact and commercial disruption caused by the economic impacts of industry and government responses to the declared COVID-19 pandemic.
More information about this Code of Conduct can be found here: https://www.pm.gov.au/sites/default/files/files/national-cabinet-mandatory-code-ofconduct-sme-commercial-leasing-principles.pdf
JobKeeper Payment
Find the most up to date information on the JobKeeper payment here.
COVID-19 Government Assistance Guide
The Australian Chamber of Commerce & Industry has developed a guide outlining the financial and regulatory relief governments are providing to businesses affected by COVID-19, as well as providing advice to individuals and businesses and answering any questions businesses may have.
$1.3 billion to support Apprentices and Trainees now available to Small Businesses
Wage subsidies for small businesses employing an apprentice or trainee are now available.
The subsidy will initially cover 50 per cent of wages paid to apprentice between January to March this year and will continue until 30 September 2020. Businesses will be reimbursed up to $7,000 per quarter, up to a maximum of $21,000, per eligible apprentice or trainee.
Wage subsidies will be available to small businesses, including those using a Group Training Organisation, to help retain existing apprentices and trainees. Employers of any size who re-engage an apprentice or trainee that has been displaced from a small business may also attract a wage subsidy.
For further information on how to apply for the subsidy, including information on eligibility, contact an Australian Apprenticeship Support Network provider: http://www.australianapprenticeships.gov.au/search-aasn
The Australian Government has released a coronavirus mobile app and Whatsapp channel.
The app is available on both Android and iPhones. To access the Whatsapp channel, visit the website here: aus.gov.au/whatsapp
For school closures (government and non-government) please refer to state and territory education authorities here: https://www.dese.gov.au/news/coronavirus-covid-19#schools
For more information on coronavirus and the government’s response, please visit: www.treasury.gov.au/coronavirus or www.australia.gov.au. Alternatively you can contact the business.gov.au at 13 28 46.
