COVID-19: Funding and Support Initiatives

For a general overview of government stimulus packages and initiatives for Businesses and employers, including: JobKeeper payment; ensuring cash flow to pay bills and wages; apprentices and trainees; financial distress; investing in your business; credit and loans; supporting regions and sectors, view https://treasury.gov.au/coronavirus/businesses

For specific information on the latest COVID-19 news and support for businesses, visit https://www.business.gov.au/risk-management/emergency-management/coronavirus-information-and-support-for-business

FEDERAL GOVERNMENT INITIATIVES

We are living in extraordinary times and experiencing unprecedented measures to curb the spread of COVID-19. The following is a summary of Federal Government initiatives to continue to provide services, recent trading restrictions and government stimulus packages.

JobKeeper payment

JobKeeper is wage subsidy available to all businesses affected by coronavirus. The JobKeeper section of the ATO website has all the relevant information about eligibility, the processes, and applications: www.ato.gov.au/general/JobKeeper-Payment/

JobTrainer

The Federal Government will invest $2 billion to give hundreds of thousands of Australians access to new skills by retraining and upskilling them into sectors with job opportunities, as the economy recovers from COVID-19. The JobTrainer skills package will also guarantee support for thousands of apprentices in jobs across the country by subsidising their wages to keep them employed and their training secured. The new $1 billion JobTrainer program will provide up to an additional 340,700 training places to help school leavers and job seekers access courses to develop new skills in growth sectors and create a pathway to more qualifications. To read further, refer to the Prime Minister's press release: https://www.pm.gov.au/media/jobtrainer-skills-package-economic-recovery-and-growth

Supporting Apprentices and Trainees

The Australian Government is supporting business to manage cash flow challenges and to keep apprentices and trainees employed through a new Apprentices and Trainees wage subsidy. For further information on how to apply for the subsidy, including information on eligibility, contact an Australian Apprenticeship Support Network Provider (see below).

Advice from the Australian Taxation Office (ATO) - Working from home expenses

The ATO announced special arrangements to make it easier for people to claim deductions for working from home this year. Details are available at ato.gov.au/workingfromhome. This information has been summarised into a Working from home media release.

Another resource you may find useful is the ATO working from home poster

​Early release of Superannuation

Eligible individuals may apply for early access to their superannuation from mid-to-late April 2020 through the myGov website. More information, including eligibility requirements, is available on the ATO website: www.ato.gov.au/early-access

VICTORIAN GOVERNMENT INITIATIVES

The following is a summary of Victorian Government initiatives to continue to provide services, recent trading restrictions and government stimulus packages.

• Business Support Package (10/07/20)
• Business Support Fund
• Working for Victoria initiative
• Payroll Tax Refund
• Bushfire Recovery assistance for small business

Business Support Package (10/07/20)

The Victorian Government announced a $534 million Business Support Package, the latest support measures on top of the $6 billion in economic relief already invested since the pandemic began. The announcement and press release is available via https://www.premier.vic.gov.au/more-survival-support-for-victorian-businesses/

Business Support Fund

The Victorian Government launched the Business Support Fund to help small businesses survive the impacts of the coronavirus (COVID-19) pandemic and keep people in work. Find out more via www.business.gov.au

Working for Victoria

The Working for Victoria initiative helps Victorians, including people who have lost their jobs due to the economic impacts of coronavirus (COVID-19), find new work opportunities. Find out more by visiting: https://www.vic.gov.au/workingforvictoria

This document is also available for businesses seeking information about Working for Victoria.

Payroll Tax Refund

This program aims to provide full payroll tax refunds to small and medium-sized businesses who were impacted by the coronavirus crisis. More information about the administration of these relief measures will be sent directly to eligible businesses. Find out more via www.business.gov.au/Grants-and-Programs/COVID19-Tax-Relief-Measures-VIC

Bushfire Recovery for small business

To help Victorian small businesses recover from the recent bushfires, the Federal and Victorian governments are providing the following assistance:

• Small Business Bushfire Recovery Grants of up to $50,000 for eligible small business and non-profit organisations who have suffered direct damage. The grant is intended to help with costs of clean-up and reinstatement of small businesses.
• Victorian Bushfire Concessional Loans of up to $500,000 for eligible small businesses, primary producers and non-profit organisations who have suffered direct and indirect impact. The loan is intended to help pay for restoring and/or relacing damaged assets and/or to meet working capital expenses.

For more information visit business.vic.gov.au/bushfire-recovery or call Business Victoria on 13 22 15

NEW SOUTH WALES GOVERNMENT INITIATIVES

Southern Border Grant - Deadline Extended

The Southern Border Small Business Support Grant program has been extended until 31 October 2020 for eligible small businesses operating in the 13 impacted Local Government Areas. The Southern Border Small Business Support Grant opened 8 September 2020, with applications now able to be submitted until 31 October 2020. The expanded criteria will take effect from 14 October, 2020.

The grant can only be used for eligible expenses incurred following the closure of the NSW and Victoria border on 8 July 2020 for which no other government support is available. More information on the new grants is available at www.service.nsw.gov.au/southern-border-small-business-support-grant