There are a number of measures to support small and medium businesses to keep their doors open and their workers employed.
Employees of businesses who are experiencing difficulty may access support through a Federal Government funded wage subsidy. For more details of the JobKeeper payment, visit the Australian Tax Office website.
The Victorian Government has announced it will pay JobKeeper to Victorian casual public sector employees whose jobs have been affected by coronavirus and who were ineligible for Commonwealth support. See here for more details.
The Federal Government will pay small and medium size businesses and not-for-profit organisations that employ workers at a minimum of $20,000 up to $100,000 to support cashflow and help pay their overheads.
There will be relief for businesses experiencing financial distress during the coronavirus pandemic, including changes to the thresholds for creditors to issue statutory demands and the time businesses have to respond to them. There will also be changes to the Corporations Act to assist directors.
The instant asset write-off threshold will increase from $30,000 to $150,000 and expand to include businesses with aggregated annual turnover of less than $500 million.
The Government is supporting small business to retain their apprentices and trainees. Eligible employers can apply for a wage subsidy of 50 per cent of the apprentice’s or trainee’s wage for 9 months from 1 January 2020 to 30 September 2020.
There is also commercial tenancies support available for businesses. See below in the renters and landlords section.
For more information on the support available for small business, please visit the Commonwealth Treasury website or the Australian Tax Office.
The Federal Government has provided coronavirus-related health and safety advice for a range of industries. Please find that advice at the Safe Work Australia website.